New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-06-25
WE4YEPS LUNACY.

CONGRESSMAN Weaver, Of Iowa, has mhue
h;,,,,oif veil known "a one of the most extraor-
binary lunatics extant on the money queS'io"
p,t l;ke many other men, he seems to be
forced by his own marvellous past I'd sViii
higher fights. He seems to have emahclpaVc"
himself entirely from all connection with iactS
or dependence upon them, Tor he ho"
announces with the same interesting soicmhiy
which has always characterized his utterahceS
an this 1uestion, that "The population oil our
. country is rapidly increasing and the money
u supplv is rapidly diminishing. We cannot
lone withstand the strain" If it is to be sup
nosod that Mr.. Weaver has ever taken the
trouble to look at the facts, he knows that the
snpply of money at present available IN thls
country is not only greater than 1t ever was
before. but vastly greater than 1t was Few
wears ago, and that the supply Is not
onlv not diminishing, but has been
for six years increasing every year faster
than the population. This is equally true
whether Mr.. Weaver reclOns all the money III
the country rs the supply, or only the money
outside of the Treasury, or only the money
outside of the Treasury and the banks. In any
case the supply to-day is greater than 1t ever
has heen at any other time. On the first of June
thore was in use no less than 1857, 12l,1G9
IN cnrrency of various kinds outside OF the
Treasury. and on the day of specie resumption
January l, 1879, the amount was
sss5. a71 .222, including all the gold which
nrior 10 that date had not been available a.
currency. and which was then suddenly added
IN the circulation Nominally therefore, the
increase in the amount of money in use outside
of the Treasury since resumption has been
more than - per cent, while the increase III
population during the same period has certainly
been loss than half rs great. But III actual
circulation the increase since the latter part o.
1873 has not been less than $685., 100000, or
nearly 90 per cent.
II is not surprising that Mr.. Weaver, begin
ming with such an amusing misstatement,
nrocecd, to declare his unaterlblc opposition to
the suspension of silver coinage. His declnra-
ton is especially interesting at this time,
because of his pronounced hostility to thc
narticnlar scheme which Mr.. Warner. of Ohio,
has on hand. Mr.. Weaver declares that he
would consent to stop the COINAGE If the new
certificates to be issued in place of bullion
deposited are to be made a legal tender for the
payment of all debt including bonds and
interest on the public debt. but if not he insist
that the plan wonld be utterly unjust ~ the
prOple. because. he says. the National debt Is
snow PAYABLE in coin. but cannot be- paid IN
silver certificates. In other words, the silver
certificates must have all the attributes oi
amoncy now possessed by the dollar otherwise
- the coinage should go on" Probably Mr.
Weaver is aware that n considerable proportion
of the Democratic members will dissent from
him in this matter. He will doubtless have
occasion to complain next winter that many oi
them. seduced by patronage. have gone astray
after false monetary gods. From present indi-
cations it may be judged that something like
half of the former force OF regulators and
inaationists will be found to have concluded
that the Warner roll to National bankruptcy l.
straight enough aud level enough for them
| Bnt Mr.. Weaver and the. rcmIining part OF the
force, it seems problbe, will insist that the
Nation shall continue rs travel the road which
was 50 shrewlly opened a few years ago. by th'
bill requiring he coinage of silver dollars an,
the Issue of silver certificates.