The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-05-26
pn..nre an warner,s SILVER mn.

On Saturday afternoon last the lower
house Of Congress passed what is known
as Warmers Silver bill by yeas ia, nays
81. The following is a summary OF It's
provisions: II fixes the weight Of the
standard silver dollar at 4l9l grains; au.
thori1es the owners Of silver bullion to
deposit the same at any mint to be formed
into bars or standard dollars; makes the
charges for coming such bullion the diff.
ference between its market value in New
York and the legal tender value Of the
coin; makes subsidiary silver coin ex-
changeable at the Treasury for legal ten
der money to the amount Of twenty dol.
lars; makes the standard silver dollars
legal tender in all payments at their nom.
lnal value; requires the Treasury to pay
out silver coin without discrimination the
same as gold coin in liquidation Of all
kinds OF coin obligations against the Gov.
eminent, and authorizes the issue Of GER
tifcates to depositors Of gold or silver coin
or bullion; also authorizes the issue Of
certificates representing coin in the Treas
u.y) in payment Of interest on the public
debt, both classes Of certificates to be re-
ceivable in payment Of duties on imports.
The certificates for bullion deposited are to
be for its average market value in coin Of
like metal during the preceding week in
New York and San Francisco. The gold
and silver bullion deposited is to be coined
to the full capacity Of the minis lin con
nection with other coinage) and il the
bullion deposited for coinage does not
amount to 100000 rer month, the
Treasury is to purchase sufficient silver
bullion to coin that amount, The act is
not to DO construed as authorizing the
coinage OF silver except into the standard
dollar.
When this bill was under discussion
several days ago in the House, the Hon.
Levi P. Morton, a member from New York
City, made the following comments on it:
Coinage by the Government is proper.
IL only an official at~testation OF the weight
and fineness OF the metal stamped or coin.
cd. 4 silver dollar thus attested to-day
should contain 4S4 $4,000 grains as the
equivalent OF a gold dollar. The present
value Of silver bullion in London is about
so pence per ounce. Until it is worth 81
or 10 pence the Government should have
the profit, il the fraud OF stamping 81
cents IS worth 100 is to continue. II this
bill is to become the law Of the land,
its title should be changed to read,
AN act for the relief OF the owners Of sill
yer Mines and an appropriation made for
the purpose Of erecting elevators and
warehouses for the storage OF silver coin
and bullion. II thu owners OF silver bull
lion al have their property carried by the
Government, as this bill proposes, and can
have certificates OF its deposit made a legal
tender for all dues to the United States,
including custom house duties, why not
clothe bonded warehouse receipts and all
other representatives Of property with the
same functions Of money? My constitu-
ents are not the owners Of silver mines;
but they are largely interested in wool,
cotton, wheat, flour, iron and copper. Why
should not the government receive all
these and other products OF the earth on
storage issue certificates, and make them
also q legal tender! And, II the supply
OF money should be still insufficient 10
satisfy the honorable gentleman from
Ohio, receive also titles Of real estate, and
issue money certificates, and SO continue
until every species Of property becomes a
part of the currency Of tile country?
Then We can issue for general distri6u-
tion-pledging whatever may remain Of
the faith and honor Of the nation-the
billion Of greenbacks asked for by the
reverend and distinguished gentleman
who occupies a seat on this floor