Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1885-11-02
THE WARNER BILL.
Ths Silver cOnursssman's Scheme
As Expressed :
BEFORE THE /, coMMESosM CLUB
OF Chicago, iu a Communication
He Has to Say Of the
Bland Act.
WARNER SILVER BILL EXPLAINED.

CHICAGO, November l.-After the regu'
lar monthly banquet of the Chicago Com
mercial Club, last night, the Warner bill
was discussed. Congressman Warner, who
had been invited 10 be present, was absent
but sent full statement or explanation OF
his views, which. were gssd 10 The gather,
ing By Mr.. Mccarthy, q Chicago. Mr.
Warner held that the silver issue
OF this time presented two dis
tinct phases. First. the movement
to practically demonetize silver BY exc 'ud-
ing the product Of silver minis from the
money supply in the future and reducing
existing coins to the condition Of subsidi-
ary money. Second-The fact being
recognized that there has been q disturb.
snce In the relative value of gold and
silver so that neither the European coinage
ratio OF l54, nor cur own ratio OF 10 do
any longer represent the dollar OF the
commercial rstio between them the ques-
ton arises.
1t is desirable to attempt to readjust the
monetary use of these two metals to their
commercial2 And if so, how can this best
be done2 This he said was the phase OF
the question which bi-metsllists are called
upon to consider. 1t was with view to
such an adjustment the writer says
that he submitted plan TO
make the use Of silver money to
conform through paper representatives
to the actual commercial ratio between
the two metals throughout the world, aud
he answered at once that the main object
of his present paper was to reply to crit'-
cisms on the proposed bill and 10 explain
more fully some of its provisions. de
said that mucn of the opposition to the
Bland act az shown By recent discus
sions through the press manitestly is
frou those opposed the continuance OF sil-
yer as money under any conditions, and
he asserted that the absolute repeal OF the
Band act would be the last of silver. No
one needs to be told OF the mint demand
for two million worth OF silver per month
is shat off that silver would fail. How far
it would fail no one could tell.
To repeat 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 ensue
following the example of the latin union
sfter silver was demonetized in Germany,
would close the mints Of Calcutta aud
Bombay. What would then be the bullion
yalne OF the silver dollar as measured with
gold, 10 one could say. AT any rate The
end would be such a separation OF the
two metals that they could never shope to
see them again united as equal metals.
Could anybody suppose for a moment, he
asked, the mass OF metallic money
could be reduced from two
metals to cne. from S7,500,00O,0O0
Of the two or therea oouts to four billion of
the one without destroying sll equitable
relations between msn;and man labor and
capital property and debts. 1t was hard
to believe that Christian men could delib
erately plot scheme OF speculation ss vast
as were involved in this movement.
Three ways for the change to be made are
advocated BY Mr.. Warner: Opening the
mints to unlimited coinage on the present
ratio, changing the coinage ratio
TO conform more nearly to the present
commercial ratio and coin silver as fully
as gold and the suspension Of coinage on
the present ratio of the issuing Of
certificates on stamped bullion. at its
market price or actual ratio to gold at the
time Of deposit.