The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1889-12-09
nirec,nr Leech,. oninion.

Director of Mint, Leech, in an interview
to-day on the subject of Secretary WINDOWS
proposed silver measure. said il commends
itself 10 his judgment as the best plan for
the present utilization OF silver and contains
in itself solution of the silver problem.
"lt will afford. ! believe" says Leech, "a
ready market for the surplus product of the
world, the normal effect of which will be To
gradually and permanently enhance the
value of silver until Il reaches point nearly
corresponding with its value in coinage. We
can with safety do away with all tempor-
measures and restore the law as II existed
from the foundation Of the government II
il curious fact that the papers represent
ing the extreme gold sentiment Of the east
and the extreme silver men OF the west
should both oppose the plan and for dia-
metrcally different reasons. Tue farmer
because il proposes 20 utilize -lrer more
fully as money and the latter because they
say II degrades silver to the level of COM
modify. With regard 10 the latter obiec-
tion fail 10 see how II is any more degrad
ing 20 silver 10 rec i've IL IN unlimited Quan-
ties aud issue notes upon il rodeemable al
the option Of the holder IN full legnl tender
dollars, than the present law to buy silver
as "A commodity.
The proposition 20 issue certificates on
in congress in various forms by most ad-
yanced silver men. In some manner il has
been repeatedly proposed IN congress TO is-
sue certificate on gold bullion md IN my
Judgment this proposition should become
law. believe IL would have been recon
mended by the present secretary of the
treasury, but for the fact that he did not
wish 10 entangle the present measure with
any other proposition. Gold bars are used
more extensively in the settlement of inter
national balances than coin. Why
IL II not Just Ms degrading
to make payments in gold bars instead uf
gold coin NJ IL would bc Ia receive silver
bars and issue representative of coin upon
II. The plan proposed by the secretary is
far more advantageous 10 silver producers
thnn the enforcement of the extreme limit
of the present law for reasons because un-
der lis operations more than four millions
worth per month conld be received. ANY
restriction acts M a menace 10 the price of
silver, Increased coinnge under the pres
ent law would not continue indefinitely and
il would be only a question of time when il
would have Ia be discontinued. BY supply
ing an unlimited market for the product Of
silver II lenves IL open 10 all natural opera
tions Of the law of supply and demand.
The tendency of this will be 10
gradually and permanently enhance its
value, enabling producers 10 realize larger
price for their production and at the same
time il will materially enhance the intrinsic
value Of the large stock of silver in circua
tion in this country either as coin or its rep
resentatiye. l believe the adoption Of the
measure recommended by the secretary
would in a few years 30 enhance the value
of silver that am international agreement
looking 10 the opening of the minis of the
world, or al least states of the latin union
and countries of this continent, 10 free
coinage Of both metals NJ fixed ratios would
not only be possible but desirable. and
readily accomplished. So far as concerns
the criticism that the plan would make large
additions 10 our paper currency based ON
silver and thereby imperil continuance of
the gold standard, nc most. IL must be evi-
dent to every one that the predominant
sentiment of the country IL in favor of the
use OF silver as money and the only thing TO
be considered Is what is the best way 10
safely use IL.