New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-08-25
GENERAL HANCOCK ON FINANCE.
HIS APPROVAL or A PAMPHLET FAvoRING AN IN
LIMITED COINAGE OF SILVER DOLLARS.
Ir1r u AnLI n IRInINEl

HIS APPROVAL or PAMPHLET FAvoRING AN IN
LIMITED COINAGE OF SILVER DOLLARS
10y TELEGRAPH TO THE TRTBUSE.l
WASHINGTON. Aug. 2i-Gcneral Hancock's views
upon one branch of the currency question, namely,
the silver division have become known III a GU
rious way in spite of the silence of his letter of ac
ceptance. In January last Dr. Charles p. Culver,
well-known Democratic lawyer of this city and
Secretary of the House Committee on Coinage,
Weights and Measures, delivered an address In
view of Secretary Sherman's financial policy before
Democratic association of this district. 1t was
printed and received the Endorsement of many
prominent Democrats. 1t treated at considerable
length both of the silver and the National bank
questions. Senator Eaton strongly approved of the
silver section Senator Thurman indorsed the whole
as the happy medium on which both factions OF the
party could unite. Senator voorhees, was enthu-
siastic over the whole pamphlet and wanted it
widely circulated.
A copy was sent TO General Hancock, and he,
through Democratic friends. made known the fact
that the views expressed by DR.. Culver in regard to
the silver question were IN accordance with his
own. This was six months before General Hancock
was nominated. but at the time DR.. Culver was
prominent In movements here looking TO his nomi-
nation. In the absence Of any allusiOn to the mat
ter since tine nomination, II IS interesting TO know
that at the beginning of the present year General
Hancock was in favor Of the unlimited issue OF gold
and silver coin and bullion certificates based on the
full market value Of the bullion and made lesal-en-
der for all sums and applicable to the payment OF
the public debt. Below is the language of the
pamphlet on this subject, which vas put into Cen
eral Hancock's hands and which he approved so
far az its views silver are concerned. In regard
to the part which treats of the National banks he
did not express himself:
They (our law-gvers must increase not diminish. the
volume OF our currency ny tne unlimited cohdEe ot
both gold and sver and To do this they must increase
Onr mint capacity. aud as the COIN accnai IN tHs
Treasury and at the mlnts or assay ouces issue gou
and bullion coin certificates especially silver
certificates. Make these ceruncltes lnierchahg@jDe
option Of the holder anf with their complete
ega-teuder qunlty they would be equal TO any cur
reucy the world. am here asked how propose TO
get these certificates into circulation. Will tell you
bullion or depOsits OF the same. would nave the
Government issue IN payment therefor certificate or
the ful extent OF the market value OF the
bullion deposited; and second. would, where
g7g9 III 700 of the ~ lie debt which natures
within less than two years IN these ceruneaes ana mus
cancel a large porticn of the public debt instead OF con
vering IL. Is recommended hy Mr -nerman into bonds
would get ont these bullion and coin certificates, vil
Treasnrv n, bass ~ ibair issue and nch coulc al
times redeemed in bullion or coin, and beng made
could be paid out again on the deposit
Of bullion with the Treasurer. Thus, tnls IN
crease of money would stimulate business OF all kinds
restore public confidence aud keep booming tAe
already forward movement OF Industrial en- terprtse
am told by the sires OF this money that 10 Is not
"honest money!" that II was not born OF legitimate
parenage. BE this so. VIII not take issue with them
on point but long this money worth its face
in gold and silver cannot see why t IS not an honest
currency At the least peepe want IL, honest or ds
honest legitimate OF illegtmate. and the increasinE
business the country wants IT, ana the more business
increases moncy that Is on with gold and
silver will be needed Let the Government then continue
TO purchase gold and silver bullion, it, and store IT
away, even 10 the extent Of our annual product or
500 900 900 certificates until the volume OF our
curreucy-gOd, silver and papcr-reaches go per cap
ta-it less than s17 per capita nOw-that i there Is
Sl7 head to the population OF The United
States actual circulation AS money tho balance Delng
In coin aud bullion the vaults OF the Treasury, or III
the of private parties and forms no part OF
the circulating melium. THIS accumulation may be
permitted TO continue gradually and as accumulate
from time TO time gold and silver within the vaults or
the Treasury certificates this too in excess OF the
amount needed TO pay interest our bonds held
abroad Those held at no re would receive their inter
eat IN our paper currency that kept at par with gold
pref