The new North-west., 1889-09-27
WHOLE NO. 1O55.
"THE TRIUMPH OF SILVER

James G. lIallock. in Fink Les,ie'x
Weekly of the 21st instant. discusses from,
Il non-partisan standpoint the status of sill
yer. Alter reviewing the history of the
TWO great parties on this question and
scoring both for their cowurtlly attitude,
he concludes that the silver interests only
hope is in the Republican party and refers
i'll support of that conclusion to the silver
plank i'll its last National platform, Con
tinuing, he says:
"i'rcsldent Harrison cannot, without
breaking faith, continue the silver policy
OF the Democratic administration, or re-
turn, t9 tlHo5e lGh,sf ,Fhs the safllc lis the
| Democratic. He is pledged by the plat
form to reverse, retract and abandon alto
gether the only policy as to silver that the
! Executive branch of the Government
whether under Republican or Democratic
control, has had since this coinage Of stan
dard silver dollars began in 1878. The
day OF noisy, trucuent opposition to silver
| on the part of the Executive is over. A
new departure, a revolution in policy. is at
hand.
Even ii the policy hitherto observed
had not been condemned in the Rcpubl-
can platform, it could not be pcrpet,,a,ed,
would soon override an obstructive policy
by stringent legislation. The admission Of
four new States in the West will add eight
| votes to the silver majority in the Senate.
On April 4th, 1883, only thirteen Senators
voted against, while thirty-cight voted for,
| increasing the monthly coinage of silver
| dollars. The addition OF eight votes to
such majority is very significant On
April sth, 1886, the House Of Representa-
tlrcs refused, BY 4 vote Of 81 to 2Ol, to s,ls-
\ pend this coinage Congress will only
need a prctcxt to pass the most cxtrlordi
nary laws on this subject--ir necessary,
| over the Presidents veto. A financial re-
vnlsion would probably call forth law for
the free coinage of silver Upon evidence
Of bad faith in President Harrison. Con
gress would probably revoke the discrc-
| tionary powers Of the Secretary Of tie
Treasury rs TO tho purchase Of silver. and
compel him 10 buy the maximum 600
| 600 worth monthly.
New York, that rave President lIarr-
| son more electoral votes than all the silver
States combined, did NOT suppose that tie
stand against silver maintained under
President Hayes. Garfield, Arthur. and
| Cleveland WAS To be overwhelmed by his
election. Nothing has happened as vet.
| The old policy is continued. Mr.. Win
dom. after II long residence in New York
| City is again ii the head Of the Treas
ury. conducting il in the same conservative
manner US during the Garfield administra-
ton. The silver men have not had Il
trunh of comfort. Their turn may come
when Congress assemblies Meanwhile the
action Of President Harrison will show
whether he proposes to keep or break
| faith. liis1oslchsonc is the monthly pun
chaS" nf silver. The miners arc asking
him lopurchase Si,O00.00 worth monthly:
! that is. double tie present purchases. on
the strength of the Republican platform.
and as IL measure of projection 10 their in
duStry. They complain that the price Of
silver IS lower than for many centuries,
twenty per cent. lower than when this /
monthly coinage begun in 1878. They
would look for on advance and recovery in
price ii the government purchased the
maximum amount. We're they merely 10
request the purchase and coinage. for Il
single month, of $i.0OO,000 worth, prcsi
dent Harrison could hardly answer that
the single amount Of s200O, 900 worth in
excess of what has been bought and coined
monthly for over eleven years would ito
harm.
"practicaly the Treasury gets the silver
in exchange for certificates mere pieces
OF printed paper and issues extra pieces
besides to Il considerable amount. IT the
result of purchasing the maximum once,
that is to say, practically cXchangin" more
paper for more silver than usual. wills tln
satisfactory. the President could abandon
the experiment 1T the end Of the month.
The effect of maximum purchases cannot
be known until after Il trial of them Ii
begun soon, they would evincc their merit
or disadvantages before Congress met in
December The experiment is entirely
safe in the hands Of President Harrison
and Secretary Window Willie hound Ny