The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1885-11-10
THE SILVER QUESTION DIS
CUSSED.
Mr.. Warner Presents His Views
and Answers Objections to His
Certificate Plan.

CHICAGO, Nov latter the regular
monthly banquet OF the Chicago Com
mercial Club last night, the Warner
bll'' was discussed. Congressman A.
j. Warner of Ohio, who had been invi-
ted to he present, could not come. but
he sent a tull statement of bis views,
which Vas read by M. Mccarthy Of
Chicago.
Mr.. Warner said that much Of the
opposition to the Bland act, 90 shown
by recent discussions through the press,
manifestly arose from the continuance
|of silver as money under any conditions,
and he asserted that the absolute repeal
of the Bland act would be the last of
silver. No one needed to be told that
il the Mint demand for 81 100000 worth
Of silver per month was shut of silver
would fall How far it would fall no
one could tell. To repeal the Bland act
and put the United States on the side Of
gold-standard countries, and England,
TO protect the rupee from the fall that
must otherwise eysue. following the ex-
amp.e of the Latin Union after silver
was demonetized in Germany, would
close the mints of Calcutta and Bombay
What would then be the bullion vslue Of
the silver dollar as measured with gold
nc one could say. At any rate, the end
would be such separation of the two
metals that they could never hope to see
them again united as equal money
] metals.
Could anybody suppose for moment,
he asked, that the mass of metallic mon
ey could be reduced from the two metals
to one-from 81, 500 000, 900 OF the. two,
or thereabouts, TO $4,000, 600, 900 of the
Eone-wi,bout destroying all equitable
fretations between man and man, labor
and capital, property and debts3 1t was
hard to believe that Christian men could
deliberately plot schemes of speculation
as vast and wicked as were involved in
this movement.
Three wsvs for the change TO bimetall'
ism are advocated by Mr.. Warner
Opening the min,s to unlimited coinagt
on the present ratio, changing the coin
age ratio to conform more Learly TO th'
present commercial ratio and coinag'
silver as freely as gold, and the suspen
sion OF coinage on the present ratio ant
the is uing OF certificates or STAMPED
bullion at it's market price. or actual ra
ito to gold at The time o! deposit.
He denied that the certificate pla
would be unconstitutional, because tb
power OF Congress to make Treasur
certificates receivable and payable b
the Government had always been ad
: nilted. As to the objection that th
: certificates would vary in value, he sal
that the price of silver bullion miet
vary, nut once issued there could be n
. variation between the certificates an
other money. including gold. When il
sued every dollar in certificates woul
be basel on a gold dollars wor'h of 81
yer. A close examination Of the wr
t ter's bill would show that this objectio
y mad beer provided against.
e The New York Tribune and oth'
II journals had vehemently denounced II
e measure as an in6ston scheme. A 81
), icient answer ought to be that infatic
= by metallic money, on a ratio commo
= to all the world, is as impossible as 1
= flation by gold alone. II silver is rate
II no higher here than in other parts of Il
Ie world it will no more accumulate he
t6an VIII gold, or than do tae waters
the ocean.
2 II the New York Herald's interview
>. with bankers throughout the COUNT
~ correctly reported them, the writer sa
:. in conclusion. the country ought to
convinced that, because one was ba
in ker, 1t no more followed that be unde
r. stood the science of money than th
,e one who operated telegraph instr
,e uent understood the dynamics of ele
4 tricity, or that one who bought and so
as wheat thereby came 10 understand I
at chemistry OF agriculture. As long
o. The issue was "repeal without comproI
n ise" the result of Congress's action
Mt the bill would not be doubtful, but wh
ed the country was ready for such rea
.al iustment of the metals as would ke
them s'from parting company" the "
o. ter believed that bi.metallists genera
y would cooperate to secure that end.