The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1885-11-05
THE WARNER BILL.
vieus Of Its Author a. Read to the Chi.
csgs Commercial Club.

vao@sO VI Ats AutnOr rs heo0 TO tho Che
cage Commercial Club.
CHICAGO, Nov. 4.-Mr. Warner holds
thar the silver issue at this time pre-
sents two distinct phases. ~ The NJ
movsi ALPHABETICALLY dsmonetixed sill
YER by excluding the product Of silver
mines from tho money supply in the
future, and reducing tho existing coin
age to the condition of subsidiary
money, and (2) the fact being recog-
nixcd that there hss been u disturbance
In the relative value OF gold and silver.
and that neither the European coinage
ratio OF l6}9, nor our ratio OF 16 to I
any longer represents the commercial
rate between them, the question
arises, Is 1t advisable TO attempt to re-
adjust the money use of these two
metals to their commercial ratio, and
II so, how can this best bo done? This,
he said, WAS the phase OF the question
which bi.metalists especially are
called upon TO consider. II was with
view to such an adjustmenl, the
writer says, that he submitted plan
some time $50 to mako tho use Of sill
vor Nh money conform, through paper
| AGPAOoCht0btNH H1f W. tn0 hCsuhl GUtIl.
mercinl ratio between ths two met.
ais throughout the world, and he an
noaucsd ~ the outset that tho main
ohject OF his prasent paper was
TO reply to criticisms on the
proposal bill and to explain
more fully somo Of Its provisions.
He said that much OF the spposition to
the Bland sct, az shown by recent dis.
cussionS through the press, manifestly
arosc from the continuance OF silver as
money under any condition, and he
asserted that the absolute repeal OF the
Bland act would be the last OF silver.
No one needed to he told thst IL the
mint demand for S2,0O0,0O0 worth OF
silver per month Ia shut of tn At silver
would fail. No one could tell. To re-
peal ts0 Bland act and put the United
States on tho side or gold standard
countries aud England to protect the
rupce from the Tall that must other
wise ens.e, following the exam
pie OF ,he Latin Union after
would close the mints Of Calcutta and
Bombay, what then would be the bul.
lion value OF this silver dollar as meas.
ured with gold, no one could say. At
any rate tho end would bo such .
separation OF the two metals that thcy
could never hope to sec them again
united as equal money metals. Gould
anybody suppose for moment, he
acxed, that the mass OF metslic money
could bo reduced from the two mstain
to QUE, from $500, ,000, 600 of tho two,
or tbcreabouts, to $4,000 900 600 OF the
one, without destroying all equitable
relations between man and maii, labor
and capital, property and debts. It
was hard 10 believe that Christian
men coald deliberately plot schemes
or speculation as vast and
wlcked as wore Involved In
this Improvement. Three ways for
the change TO be made are advocated
BY Mr.. Warner-opsniDg the mints un-
limited coinage on the present ratio:
changing tho coinage ratio to conform
more nearly to the present commercial
ratio, and coin silver as freely as rold.
and the suspension OF coinage on the
present ratio, and the issuing OF oertIfi-
Gates or stamped bullion at lis market
price at the time of depbsit. REGARD.
lug the most popular objections to the
certificate plan, he denied, In the first
place, that the certificate plan would
be unconstitutional, because the power
OF the constitution to make treasury
certificates receivable and payable by
the government had always been adj
mitted.
The New York Tribune aud other
journals hsd vehemantly denounced
the measure NJ an inf alton scheme. A
sufficient anEwer ought to be that In
fiation by metallic money, on ratio
common to the world, Ia rs impossible
"a by gold alone. II silver Is rated no
higher here than In other parts Of the
world, II will no more accumulate
here than will gold.
The New York Hersld's interviews
with bankers throughout the country
correctly represented them, tho writer
said, In conclusion. The country ought
10 be convinced that because
one was banker, it no more
followed tbathe understood the science
OF money than that one who operated
o telegraph Instrument understood the
dynamics OF electricity, or TINT one
who bought and sold wheat thereby
came to understand chemistry OF agri-
culture. As long as tho issue was
"reposl without compr0mise" tho re-
suit OF Congressional action on the bill
would not be doubtful, but when the
country was rcady for such read.
juntment of the metals m would keep
them from "parting compauy,n the
writor beloved that bi-metalists gem
orally would cooperate 10 gain that
end. Wy
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