New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-12-17
POOR OUTLOOK FOR SILVER LEGISLATION.
TWO NEW. YORK MEMBERS WHOSE VIEWS pIFFER

! TWO NEW YORK MEMBERS WHOSE VIEWS DIFFER
| ON THE SUBJECT.
| WASHINGTON, Dec. 16 (SpeciaD -There is promise
of food of silver bills as the House is organ
lied to permit the introduction Of such measures Two
have so far been introduced in the Senate-one by Mr.
Mcpherson to suspend the coinage of silver dollars
and one by Mr. Teller to provide for the free coinage
of silver the same gold Mr. Hewitt will introduce
one in the House. but apparently he does not have
much faith in anything being accomplished, owing to
t absurd cry coming from the West and South that
it Is only the Eastern capitalists who want to suspend
the coinage of silver Mr. Hewitt says that the silver
to lose sight of the fact that the gold dollar
is by law the standard OF value winch enabled the
country to make its domestic and foreign exchanges
With case and certainty. Any fuctuaon in the value
will bring in his opinion, disastrous consequences tor
which the Democratic party will be held responsible
If it defeats saton this question. 1t will be the
poor man and the working classes who will suffer
from the decrease in the purchasing power OF money
The rich protect himself. Wages will not
increase espond TO the lower standard of value,
while the accumuatlons In banks benefit funds. aud
life insurance will shrink. and the industrious people
thus be robbed Of portion of their savings. He
estimates the loss in that Mt $3.50 900 600 or 10
per cent of the S3.OO00OO,OOO now represented by
the accumulation of the people 10 savings banks ben
eit funds and life insurance. Mr.. Hewitt hopes that
tor The sake of suffering humanity something will be
done 20 settle this question.
Representative Swineburne of Albany Ia probably
the ONLY Ne York member who will vote against
bill TO suspend the coinage of the silver dollar DR..
Swneburne will attend the Anti-Monopoly silver meet
ing in New-Yort next week, and there present his
views. Speaking on tho subject to-day. ne sad
" Silver is an American product. and We should do
nothing to lower its value. In my opinion. the law
shord be changed 20 retire National bank notes
aud issue in their stead greenbacks based our silver,
and gold certificates should be issued for bullion
deposited with the United States II that done.
then | would tor a suspension OF the coinage,
leaving II TO be resumed the necessities of the
country may require | would have the bullion certlh
Gates the SILVER certificates already issued and the
gold certificates and the greenback interchangeable
If any persons wanted silver they could get it, but the
Treasury could redeem certificates In either gold or
silver The people don't want TO carry around bag
of coin One Of the most unpopular things this Admin
stratiOn has d0he withdraw the 81 and 81
notes | know that my constituents very much
dissatisfied with that action. bill has been introduced
in Senate. see, to retire all notes below $40.
The who ATTEMPT 20 carry out such an unpopular
will be likely to hear from their constituents
Tue Of the Administration this subject Is
unfortunate Business will not revive under the policy
proclaimed by the President"