New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-02-05
MP RJaND,S QUESTIONS


II must be said that Mr.. Bland does not act
as if he had safe majority. There is every
reason to believe that large majority in the
Uouse will support him. But he has shown
disposition from the beginning of the session to
delay action, and now, instead OF reporting any
measure. he offers resolution OF inquiry, so
cunningy drawn that men on either slde OF the
House can vote for it. Thus Pie resolution was
In fact supported by some Republicans VINO DO
not favor silver extremists, bat think 1t well
that the Secretary should have opportunity 10
remove misapprehension regarding his course
If the Secretary chooses, he can make most
convincing reply. He can show that no law
compels him TO choose the one or the other OF
several legal tenders in ordinary payments
He is intrusted with discretionary power. lie
can show that any bani er or merchant, desiring
public confidence aud good credit, lakes the
utmost care to consult the preferences OF thoSe
who have claims against him regarding the KIND
of money paid. Thus, if a country banker
shOuld compel creditor to leave his money, OF
TO take away a wagOn-load OF silver dollars, IL
would be instantly inferred that he was airald
of n run and wanted 10 discourage other people
from asking for their money. Sensible men DO
not trust money if they can avoid 1t to those
who show a disposition to take advantage OF
every petty trick and technically against their
creditors.
Had the Secretary in the exercise of his dis
erection found il desirable to force more silver
dollars into circulation, it would have been his
dutv to nav all salaries of Government en-
ployes within the country i'll silver, because
such persons, whether pleased or not, could not
have made Just complaint. The credit OF the
Government would thus have beet less dIsas-
trously affected than if n kind of money not
desired had been forced upon foreign creditors,
or upon creditors of the commercial Classes,
who require gold in their international and
| other exchanges. To force silver upon the
latter class of creditors would have crippled the
! public credit at once.
| But the Secretary may also show that, even II
! silver dollars or certificates had been most
! literally paid ont, they would have come back
into the Treasury through the custom houses,
and in place of gold. The amount of coined
dollars which the people will in fact carry Is
determined by their own convenience and not
| by law The surplus they will send back
through the custom houses, as they actually
have done So OF silver certificates, which pass
only because they are payable at the custom
houses; if the amount outstanding hal b. en-
larger more would have been sent back IN pay
ment OF duties, and the gold reserve would
,, thus have been reduced. Without gaining a
single penny, OF getting more of either kind OF
money into general circulation, the Treasury
would thus have destroyed the credit OF the
Government. The Secretary will not find 1t
difficult to show that persistence in that policy
would have driven gold out of the country. and
that disasters to industry and trade would have
resulted to which it would have been criminal
to expose the people. 1t is quite likely that no
such statement of facts will influence the
majority in the House. But the Secretary vii!
not forget that it will be read by the people, and
will do much 10 educate public opinion.