New-York tribune., 1885-08-14
to be preferred to either of the Republican
Administrations which preced ed it
yrw.YoRK FOXES WITHOUT TAILS

W-H
II would be interesting If the committee OF
the New York Clearing House would publish the
letters received from bankers in various parts
of the country in reply to the circulars sent out
hv the committee asking aid in distributing
subs;diary silver coins. The fact that such
circnlars were sent, not by the Treasury De-
nortment. which had the coins and wanted to
oct rid of them, but by the committee OF New
York bankers, who had none to send ana
wanted none, is of itself little suggestive. lt
remipds one of the generous invitation given
Inv the tailless fox to his companions that they
should all jon him in the new fashion. The
bankers of New York had been persuaded to
take lot of silver small COINS, upon the cOndi-
tion that they should not empty them into cir
culatiou. and it appears that they thought it well
IN invite all the other bankers and banking
houses in the country to assist them in this
cur;ous arrangement Accordingly, it is
stated. something over 1000 circulars were
sent out, and scanty extracts begin to appear
from some of the three or four hundred letters
received in reply.
These extracts, IL they are genuine, give the
impression that the entire correspondence would
be particularly interesting reading. A dispatch
from Washington-and one is interested to know
why the correspondence of New-YOrk bankers
should come to the knowledge of their depositors
and other customers by way of Washington,
and not in some more direct manner-afirms
that some of these replies speak of the advO-
Gates of silver coin and silver circulation rs
straitors to their country" and as !" a squad or
muddle heads, unfit to run second rate peanut
stands This elegant phrase really appears to
refer to the bankers who are urging silver upon
somebody else, rather than to the lawmakers.
1t leads TO the suspicion that the correspondents
did not altogether appreciate the kind invita-
ton from the banks of NewYork. According
10 the dispatch, the letters contained some
criticisms that were not veied at oil ; one, tor
instance suggests. it is said, that the interior
banks are to pull the chestnuts out of the fire
while the New York banks enjoy the eating
Others criticise the Government. One wants to
know why the President has shut up like
clam on the subject since he went to Washing
tor.," another pitches into Mr.. Jordan for
9foolshly thinking the Government is cramped
for gold, and thus again stirring up the silver
question" Still another expresses disgust with
a Government which appeals to people to help
it out of muddlo of its own making, and says
"a Government that will stamp 80 cents as
dollar doesn't deserve any help; it is rascally
to the core, and the quicker it sinks the better
Finally the suggestion appears in the corre-
spondence, one may suspect more than once,
that there is already too much silver in circu-
lation in this vicinity"
The number of these replies IL suggestive.
Out of about 1000 circulars, one in twenty
seems to have been answered; but nineteen out
Of twenty of tho bankers addressed appear TO
have thought the request not deserving OF any
reply whatever. Ii may be presumed that they
found il difficult to express their sentiments
with due politeness and 18th the exalted re-
spect which it was presumed the New York
bankers would look for. and accordingly
thought it best to say nothing. Apparently the
bankers out in the country arc not exactly
destitute of sense. Ninetccn-twenticths OF
them seem to be aware that there is quite
enough silver in circulation already, and part
of the other twentieth arc particularly indig
nant at the attempt to thrust more nto circula-
ton.
One banker makes an interesting inquiry.
The Treasury is going to ship the small change
10 him free of cost, but hc wants to know VINO
Is going to ship IL back. For back II must go,
or remain clog to trade, and source of loss
to bankers aud shopkeepers. What poor
makeshift it was, to tide over difficulty aris-
ing only from the political tmidity of the Ad-
mnstraton The Treasury will get the silver
out by bribing people to take it, il it can. 1t
then relies upon their unwillngncss to pay the
cost of transporting the stuff back n second
time BY that process it hopes to keep in use a
kind of money the people do not want, in order
that Mr.. Clcvelands Administration may escape
an unwelcome duty which would give offence
to its party.