Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1885-09-21
SHERMAN INTERVIEWED

/ On the Warner silver ill-He Says the
scheme is Absolutely Impracticabie.
CLEVELAND, September l9.-Senstor John
Sherman who is stopping at the kennard
House, was called upon by a reporter this
morning and asked to give his opinion Of
the Warner Silver Compromise bill, as re-
ported N these dispatches.
"Whs is your opinion ofthe Compromise
Silver SshemeH' was asked.
1t is absolutely impEsctcable. 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 ofsilver than it is in the case
of grain or cotton"
us il practicable to give certificates for
silver bullion circulating power, when those
certificates. are issued for silver at the nlr-
ket price on the day Of issue, and redeem.
able at the market price of silver on some
other dsyT' pre-
at is not practicable. 1t is simply an
posterous-so much 30, in feet, that c
hardly believe that Warner nor any other
intelligent mar would advocate it, although
il is 30 represented in the public prints.
Such certificates could never become a
part Of the currency. Their vslae would
huctuste from day to day. with
the price of silver. They could not
consti.utionslly bemade legal tender-there-
fore banks would refuse them. The Gov.
eminent would be the only party that would
receive thera, and the Government would
have to take them for dues as fast as issued,
or redeem themin lawful noney-not bull
ion-following the provision Of Warmers
plan. The Government would, in that way,
become the depository Of al the certificates
as well as all the silver. and the whole
thing woald be q farce 30 sar q it assumed
to provide currency for the people. Certi-
| 6cates Of the kind Warner proposes would
be as unstable in value as the red dog
| money OF ante-bellum days. They would
not be money! in any true sense OF theterm.
When asked if Congress had the power to
make such certificates receivable Tor public
and private dues, the Senator replied that 1t
had not. 1.-THE present gold and silver Ger.
| ti6cates," he continued, which are not as
MANY suppose, legal tender, bat being re-
ceiysble for public dues At 9 fxed value,
have great crsdib;ity and circulating pow.
er, ana are, in ny Judgement as near a.
! the Government can get to what the people
want in this regard, excepting always that
the uiIver dollar at the base Of the silver
certificates shoah contain silver enoueh to
make them i~ntrinsically equal To gold"
he says the Government viii have to as
sumo the riSk in the variation OF the vslue
in corn. he also thinks there Is no danger
Of issuing too many silver dollars. provided
the dollar was strengthened by increased
weight, az he advocates. There would be
| 100000 900 such dollars boarded instead of
| gold as Is now the case. he thinks the
prophecy Of snspending payments on the
| public debt since Secretary Folgers death
q mistaken one. The requirements OF the
sinking fund should have at least been kept
up. BE iniers that there are 5000 200
now in the treasury that sould 60 towards
reducing the public debt.
The alleged sale Of fractional silver N
New York sor gold vss 8 silly piece Of basi'
ness There Is no trouble IN getting plsnty
Of gold fot silver certificates isdesired o
neepRarT5
He cenirued that Ehils 6ecsstaT5 b.