New-York tribune., 1885-01-28
SILVER IN BOSTON.

IL Boston bankers are mad all through" ns
dispatches represent. they should calmly con-
slider that they are chiefly responsible them
selves for the overdose Of silver certificates
they have been receiving Some years ago,
when the Silver bill had passed. the banks of
this city presented in clear and temperate state
ments the dangers which this measure would
involve, and invited the banks of other cities to
join with them in refusing to receive the silver
certificates or the standard silver dollars in de-
posits or payments. At the outset, the asso-
ciated banks in several other cities concurred
heartily, and the banks of Boston. we believe,
were among the first and the most Jealous. But
after time temptation came. Deposit0rs and
people who had money to pay wanted to use
silver dollars or silver certificates. Then the
banks of other cities failed to act upon their
pwn resolution. One by one they opened the
door, first little, and afierward altogether, to
the use of silver and silver notes, and. of course,
that kind of currency naturally went where it
was willingly re we'd. In process OF time, too,
the Treasury found itself greatly incon-
venienced to make its payments in gold. while
receiving silver certificates for large part of
its revenue AS tho banks of New-York had
long before predicted, the Treasury was com
pelled to palm of its silver certificates on some-
body. Members of Congress who had voted for
the Silver bill did not want them. Creditors of
the Government in the West and South, where
the clamor for silver coinage had been loudest,
were not anxious to taae silver instead of gold.
But the banks of some cities had begun to re-
ceive them, and so the ! reasnry naturally paid
out the silver currency most largely where it
would occasion least Inconvenience and meet
with least objection.
The consequence has been that in the other
cities, and particularly in Boston. lerge pay
ments in silver certificates have been made and
that kind of currency has collected in incon-
venient amounts. Intead of refusing to accep
it some time ago, when it was found that the
amount in circulation was larger than could
well be used in the payment of duties ut the
custom houses, the banks of many cities have
quietly continued to receive these iotes, an
they have consequently accumulated. A few
days ago, however, sumo Boston bank under
took TO pay with silver certificates balances due
to banks in New-Yorx. as if they did not know
perfectly well that currency OF that sort would
not be received. 1t was refused of course, and
now some of the Boston bankers profess To be
"mad all through" 1t is to be hoped that
little time for reflection will restore their
equanimty.
The banks of Ncw-York do not intend to be
forced into bankruptcy again by any blunder in
finance on the part of Congress. They have ac-
cunulated SIC ZOO, 900 in gold, and they show
a creditable disposition to hold it fast for the
use of themselves and their customers. If the
United States Treasury, or the Boston banks,
or anybody else. insists on making paymsnts in
silver, the practical result will be the opening
Of two accounts. 80 that he who pays In silver