Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1885-09-20
SHERMAN INTERVIEWED

On the Warner Silver Bill-He Says the
Scheme Is Absolutely Impracticable.
CLEVELAND, September l9.-Senator John
Sherman who is stopping at the Kennard
House, was called upon by reporter this
morning and asked to give his opinion of
the Warner Silver Compromise bill, as re
ported in these dispatches.
What is your opinion ofthe Compromise
Silver schemeY was asked.
1t is absolutely impracucsble. The dis
patches represent Warner is claiming to be
able by his plan to prevent the buling OF
the silver market by producers and specu-
lators. 1t is no more possible to prevent
this in the case ofSilyer than it is in the case
of gram or cotton.
lis it practicable to give certificates for
silver bullion circula ing power when those
certificates are issued for silver al the mar
ket price on the day of issue, and redeem
able at the market price of silver on some
other day.?
"lr is not practicable. 1t is simply pre-
posterous-so much 40, in fact, that can
hardly believe that Warner nor any otha'
intelligent man would advocate it, although
it is 20 represented in the public prints.
Such certificates could nevec become
part Of the currency. Their value would
tluctuste from day to day with
he price OF silver. They could no.
coustitutlonally be made legal tender-there'
tore banks would refuse them. The Gov.
rrumeut would be the only party that would
receive them, and the Government would
have to take them for dues as fast as issued,
or redeem themin lawful money-not bull
ion-following the provision OF Warner
plan. The Government would, in that way,
become the depository of all the certificates
as well as all the silver, and the whole
thing would be farce 80 far as it assumed
10 provide currency for the people. Certl-
fcates OF the kind Wsrner proposes would
be as unstable in value as the red dog
money OF antebellum days. They would
lot be money in any true sense OF the term.
When asked if Congress had the power to
make such certificates receivable for public
and private dues, the Senator replied that 1t
had not The present gold and silver GER
,iicates," he continued, which .re Lot, az
many suppose, legal tender, but being re-
ceivable for public dues at liked value,
have great credibility and ir,ulaung pow
er, and are, in my Judgement as near as
the Government can get TO what the people
want in this regard, rXcepting always thst
the silver dollar at the base OF the silver
certificates should contain silver enough to
make ,hcm intrinsicaliy equal to gold.
He ssys the Government will have to as
1. - ~ ha -
in corn. He also thiuks there is no danger
Of issuing TOO many silver dollars, provided
the dollar was strerg gthened by increased
weight as he advocates, There would be
! 100000 600 such dollars boarded instead OF
cold as ls now the case. He thinks the
prophecy of suspending payments on the
public debt since Secretary Folgers death
! . mistaken one. The requirements OF the
sinking fund should have at least been KEPT
up lie inters that there are $1,000 1000
row in the treasury that sould go towards
reducing the public debt.
The alleged sale Of fractional silver III
New York for gold was silly piece OF bust
,pss There is no trouble in getting pIen'v
of geld for silver certificates it desired OF
necessary.
He continued that While Secretary h.
gave large amounts of silver cer0tcstc5 tC
.areigrers who came here to buy our pr
ducts Millions Of gold came into th'
rreasurv in this way. Mr. Naming, h
sq,a. is opposed to the silver issues and sc
.an short Of gold for a time.
lie expressed the belief that political pro
! libirion was on The waDe, and would not e.
feet The result Of the coming election II
! ,his State