The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1885-08-07
SHERMAN ON SILVER.
He Favors Increasing the Weight of Silver
Dollar to AS Grains.

WASHINGTON, July Ex-senator John
Sherman, Of Ohio, arrived Monday night.
He says he enjoyed his recent visit TO the
Pacific coast immensely, and Is In the best
of health. In conversation to-day, be pre-
sented his views in regard 10 the present
financial condition, which he considered q
very delicate one and one which would re-
quire the closest management on the part of
the Secretary of the Treasury to avoid
trouble. He said he did not agree with the
policy regarding the silver question which
was adopted at the recent conference be-
tween Treasurer Jordon and the New York
bankers. He said he had no doubt that
Secretary Manning was acting according to
his best lights and for what he believed was
for the interest of the people. Under the
circumstances he did not think |: would be
proper for him 10 criticize the Secretary and
no political motive would induce him to do
so. "Next WINTER" said the Senator, "lhese
subjects will come before Congress, aud
then l presume will have an opportunity
to say something about them" He was
asked If he thought the danger OF
GOLD ATTAINING A PREMIUM
And the business OF the country dropping to
an exclusively silver basis, as imminent as
had been represented. "That depends en-
tirely upon the way in which the finances
are managed, was the reply. 81 have grave
doubts whether Congress will consent i'm.
mediately to a suspension of silver coinage.
1t is possible, however, that Congress may
agree upon measure that will render re-
peal of the coinage act unnecessary. If
silver dollar could be made of the value of
gold dollar, there would be no necessity for
repeating the present law. l am In favor Of
increasing the weight of the silver dollar
from 4l2a grains TO 44S grains. 1t would
thus circulate on parity, so far as tie ac-
tual value Is concerned, with gold, aud sill
yer certificates would be Of the same value
as the gold certificates. | have no reason TO
believe that the supply Of gold Is diminish
ing, and do not fear that with just In
crease In the weight of the silver dollar, we
would, in the future, be again obliged to
increase the weight of the silver dollar. We
buy silver at its bullion value and attempt
70 keep IL In circulation on par with gold.
Now the Bank of France takes the surplus
silver that comes into that country at its
bullion value and sells 1t TO the best buyer
as bullion. The Bank of France is an actual
competitor with
OUR MINERS OF SILVER,
In the sales of bullion for coinage into
standard silver dollars. The law requires
that we shall buy silver at the lowest market
price, regardless of who may be the bidder.
II the weight Of our silver dollar should be
increased, IL would create an additional de-
mand for the metal and its price would be
enhanced. We may be required to 60
through the slough Of despend for year or
two, before any final settlement Of this ques-
ton Is reached, but in the end believe the
value Of the silver dollar will be made equal
to that Of the gold dollar. II gold once at
tains premium Of one per cent, 1t will
surely attain premium that represents the
exact difference in the value between the
silver and gold dollar, or about Is per cent.
Whatever is bought must be paid for on the
basis of the gold dollar, and for that sold,
the price received will be on the silver
basis" The Senator decliued to answer
question as to whether the Secretary Of the
Treasury had the authority of law to sell
bonds to maintain the gold reserve, and
again he refused to indicate bis opinion as
to what means could be successfully en-
ployed to relieve the Treasury Of its embar-
easements caused by the silver coinage.