The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1885-06-16

IN the other, is under considerations
rhe determination OF either of these NAV
materially affect the ratio between gold
Ind silver II We put our ratio too high
,ur coin would at once 90 into the melt
ng pot, and II too low we should still
De coming what the opponents OF silver
;all short dollar. And If the dollar
8 short it makes little difference whether
{ is ten or fifteen per cent But the plan
speak Of monetizes silver metal at no
liked ratio, and therefore lays upon as
40 burden OF maintaining any RATIO"
"What do you think would be the ef-
'ect of the adoption of your proposition
'n European countries 7"
ON SOLID GROUND.
sit places US in . position where other
countries are powerless to hurt or affect
ls we stand ,ppop perfectly solid ground.
Their silver could not come here, FOR the
simple reason. that the price OF silver 10
New York would be no higher than in
London. The owners of silver bullion
On the other side would find no induce
ment to send it here, for the obvious
that they could get no more for
It here than it would bring at home, and.
in fact, less by cost Of transportation
Of course the coin silver OF Europe can
never leave the States 10 which it is COIN
ed, unless first demonetized aud turned
into bullion. Suppose that were done
even, which would break up any country
that attempted it, it would not come
here, because the price would fall here
as quickly as there. Our position under
this plan would be tentative. 1t would
leave rs in aposition at any time to unite
with other countries on q common ratio
for the two metals with unlimited coin
ani legal tender. We certainly should
not suffer while waiting for them to come
to our position"
WASHINGTON, June 6-Your CORES.
pondent is able, by the kindness of Mr..
Warner, to send you below 10 It's exact
form as 1t is now being considered BY
prominent public men, the silver propo-
sition, which is intended to form the ba.
sis Of legislation in the next Congress
First-Issue certificates on the deposit
OF silver bullion at its market price a,
the time Of deposit expressed in dollars
which shall stand as the declared value
OF the certificates while in the hands oil
the public. The average value of silver
for the previous month might be taken
as the market value at the time Of deposit
Second such certificates to be made
legal tender for all purposes except in
transactions between private parties.
Third They shall be redeemsble 10
lawful money, or at the option Of the
government in silver bullion at its mar.
ket price at the time of redemption -
When received into the Treasury fol
dues to the government or redeemed In
lawful money, they shall be held and
paid out again as other currency; but
when redeemed in silver bullion, to bt
cancelled and destroyed.
Fourth The coinage OF silver to b
suspended until required again to NEE
an actual demand for silver dollars. Or
the coinage OF any bullion the certificate,
representing the bullion shall be cancell'
ed and destroyed
Eth Fractional silver, or at leas
the half-dollar pieces, to be made ful
weight and full legal tender and the re
demption OF subsidiary silver 10 be dis
continued.
Sisth Withdraw the one and twt
dollar legal tender notes without redu
cling the total volume OF green backs; al
so the FIVE dollar bank note and issu'
one, two and five dollar coin notes, baset
on the silver dollars now coined. dolla
for dollar.
Seventh = Redeem and recon the trad
dollar Into standard dollars or fractiona
coin.
To this conversation with your CORES
pondent printed in this mornings Her
aid, Mr. Warner had not opportunity t,
correct certain errors in report on th
same matter, which also appeared in tb'
Herald, and which, OF course, he dit
not see until to-day. Your correspon
dent is able to say positively that sher
is no truth 10 what is asserted in this re
port that Secretary Manning and MI
Tilden have been in consultation on tn
silver question. There has been no sue
consultation between these two gentle
men, nor between Secretary Mannin,
and Mr.. Warner. In fact, Mr.. ManninI
and Mr. Warner barely know each other
Mr.. Manning said to-day: 81. hav
only slight acquaintance With Mr.. War
ner, but l have a high opinion OF hi
ability" 1t is . fact that Secretar.
Manning knew nothing Of the silve
plan until he saw it in to-day's Herald
OF course, therefore, he could not hav
consrlted with Mr. Tilden, Mr.. Warne
or any one else about 1t. Nor did Sec
retary Manning discuss this silver prop
osition with New York bankers when W
met them last week, but entirely differ
ent matters.
1t would be mistake, therefore, T.
suppose that this silver proposition ba
been framed by or at the instance OF o
with the knowledge Of the administrs
ton.