Savannah morning news. [volume] (Savannah) 1868-1887, 1886-04-09
The Free Coinage Bill.

There Is no longer any reason to fear
that the House will pass bill author
fzfng the free coinage 81 silver during the
present Congress. There never was at
arv time occasion to fear thai the Senate
w.ua pass such a bill Mr.. Bland
was So confident. however, that his bill
would pass the House, and boosted 90
Frequently that he had secured a majority
i'm its tavor that there was a feeling Of
uncertainty 10 various parts OF the coun-
try with respect to It's fate.
The vote on Mr.. Dibble's amendment 70
suspend the coinage of silver after 1889
unless, in the meantime, an international
ratio between gid and silver should be
established, indicates pretty clearly that
there is no hope for the suspension Of
silver coinage at present. The House APP
parently does not believe, that there is
any immediate danger, under the pres
ent silver coinage law, that the silver
dollar win not continue to cir
culate at its face value. II it did the
vote on the amendment would doubtless
have been very different. Briefly stated, the
position OF the House seems TO be that
FAiNEl iABiBtllGAA IAl1iAA - AlFA hHoli opANf
and that the coinage OF silver a. the pres
ent rate Of coinage can be continued, for
several years at least, without making
silver the standard
The impression that the debate and the
action on the bill are calculated TO give is
that the House is not as well informed on
the silver question as it ought to be, aud
that tits u1certaIn what course to pursue.
The two votes taken yesterday, therefore,
NAV be construed to mean that IT has de-
ciled 10 do nothing, and wait for further
developments. No decisive action NAV
be expected as long as the silver dollar
continues TO circulate on an equality
with the gold dollar.
The question which now presents itself
is, how long will dollar whose
bullion value is only 70 cents continue TO
circulate at 100 centsY The Secretary of
the Treasury in his annual re-
port pointed out that shortly before
the meeting NJ Congress the danger that
the silver dollar would be refused, except
at its bullion value, was imminent. and
was only ayerted by the united action the
Treasury and leading New York bankers.
The refusal to accept silver except at it's
bullion value is liable TO occur at any
time, and when it does occur it will
doubtless be followed by great financial
troubles.
There is no doubt that the uncertainty
respecting the place that silver Is to oc-
cupy in the currency has much to do with
the existing depression in business and
all industrial interests. The country has
been waiting very patiently for Congress
to relieve it Of this uncertainty,
and new that 1t is discovered
that nothing is to be done 1t
would not be surprising if the Treasury
should experience greater d tiiculty than
ever in getting the silver dollar into cir
culation. The anxiety to get rid of il for
fear that it will cease to pass at It's face
value will be more marked than ever.
A few weeks may he sufficient to bring
about a very decided change in the atti-
tude of the House with respect to silver.
It NAV discover that the country is not
so anxious, as it seems to think, for more
Of the 79-cent dollars.