The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-02-13

Declaring They Have Been Snubbed by the
Administration--No Legislation Probable.
Special to Philadelphia Times.
1t is generally conceded by anti-silver people
here that there will be no legislation suspending
the coinage of the silver dollar this session or in
fact, this Congress, and there does not seem to
be the same concern among the advocates Of
suspension that there was at the opening of the
session. 1t has come to be prevailing opinion
among inanciers that the moneyed and business
interests of the country-for the present at least
cannot suffer by failure to suspend the coin
age of silver. A prominent banker here, who has
studied the financial situation thoroughly. said
to-day that the silver scare is over The fnan-
cial public, he continued, has at last discovered
that long as the balance of trade is in our
favor there is no danger of any large export of
gold. Notwithstanding our diminished exports
OF wheat and the lower prices we receive for
agricultural products this balance of trade is
still in our favor. and has been since the coin
age of the silver dollar in 1878 During the eight
years which have since elapsed we have increased
our store of gold from less than two hundred
millions of dollars to over six hundred millions
of dollars, while on the other hand we have ex-
ported more silver than we have imported While
this state of things lasts he argues it is idle to
talk about getting on a silver basis.
As already stated. it is generally conceded by
those who favor suspension that it is idle to ex-
pect 1t from this Congress, and in the present
condition Of things there will be probably not
any further agitation of the question from them.
Strange to say, the principal agitation comes
from the silver men themselves, who have every
thing their own way, and have nothing to fear
from the influence of gold bugs" in Congress.
Their only policy is regarded as o very simple
one-to do nothing The law is all on their side,
and no one supposes that the policy of the ad
ministration can be changed. Yet these silver
advocates in Congress are doing more just now
than any other class of persons to keep the pub
lie agitated on this question They have just
now fresh grievance against the administra-
ton in the reply of Secretary Manning, which
was agreed upon in the last Cabinet meeting,
70 the resolution of the House of Representa-
tives calling upon the Secretary of the Treasury
for his reasons in not putting more silver dollars
into circulation and for the silver policy of the
administration. This reply simply directs the
House to the message of the President and the
report of the Secretary of the Treasury on the
subject and is in perfect accord with the Presi-
dents settled purpose to interfere as little as pos
sible in congressional matters to fully make
known his views on public questions in his an
nual messages and then 60 his way and let Con-
gress do the same. Yet il is regarded by the
silver people as q snub from the administration
and they are very bitter in their denuncations.
They have Joined hands with the anti-civil
service reformerE in all sorts Of schemes against
the President to preventhis election if he has
such aspirations. They charge that his admin