New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-11-16
m "
TIE SILVER QUESTION.
VIEWS OF TWO SENATOR'S AND ONE EX-SENATOR.
The silver question will OCCUPY much atten-

VIEWS OF TWO SENATOR'S AND ONE EX-SENATOR.
The silver question will occupy much atten-
ton In Congress this 1t will be OF the ques-
lions on which the Administration Will take sides and
endeavor to enforce policy already declared Senator
D. IT, Patt OF Connecticut, said to TRIBUNE reporter
on this subject Saturday:
No one really knows anything about this silver aues
ZION as rar as can discover The silver have their
theories and they talk volumes But cannot find when
they are dono talking that they have furnished any facts
or any sound arguments or know any more about the
matter than anybody else. There is one theory
about silver that las presented Itself with force.
1t is ecs illustrated by the of figures Our produc-
ton OF silver is say $40. oOO. 900 per aunum We
coming s2lOOOOO0 per annum. Now that leaves to
certainty Sl6,0000o0 OF bullion to be piled up
where unless portion OF IT is used in the arts.
which would dc small percentage. The constant piling
up OF so much bullion must necessarily dopreciate the
valuc OF silver. II all coined up fast pro-
duced 1t looks natural that the price would upinstead
OF down could be used instead of paper The
people do not object to It within certain limits.
man doesn't want to be paid hundred dollars in II,
even NIFTY But up to two or three dollars in change he
will make no objection It is indeed handy to have
dollar or OF silver in your pocket for current
Some time ago the1 was rule at the Treasury in
Washington that all employees OF the Government should
he paid 10 per cent OF their wages In silver. When
went down to the Treasury the end OF the month to
draw my salary used to get pile OF silver so large
handily That was a nuisance"
Ex-senator Hil OF Colorado has come East TO spend
the winter He takes deep interest in silver owing to
his holdings In silver mines and the general welfare
OF his state lie has been invited TO deliver address
the subject before commercial club at Providence
neIt month. In talking with him recently no said
The production OF silver il declining. 1t will not
therefore depreciate In market value unless forced
down by hostile Legislation. Tho fact that silver bullion
Is now deprecated Ia no argument which 10 demand
the stoppage OF silver coinage. Within twelve years
10 was worth three por cent gold and
IL may be again I'm short time. The country
cannot afford to strike silver and deprpcate its price,
because TO do would large contraction In the
volume OF money and disastrous falling OF in prices
generally. The withdrawal OF silver currency would
drive the country In short time to tho of ire
deemabe paper currency. IL is my impression that
when Congress meets majority will be found In favor
OF continuing the present coinage"
Senator hdrch OF Rhode Island. who was hero Sat
urday has been asked 10 be present vixen Senator Hill
delivers his address at Providence and will possibly re-
ply him. lie said that he does believe the coinage
Of silver by compuson thing either for tho coun
try or for the silver The trouble with the silver
mems argument Is, that It Is based on
statement OF facts that will not
bear inspection rs facts. He said "Tho
real fact Ia that the farther get away from an int r,
caugcable currency IN which the silver and the gold
dollar are equal the nearer we got to wildcat money
because the gold Is driven ont OF the country
by the forcing OF silver the people, the silver Itself VIII
become deprecated as grconbacks once were Tic dis
continuance OF compulsory coinage Is absolutely es-
scntia to sound principles OF finance