Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1889-12-11
TALKS OF SILVER.
Director of the Mint Leech Give Some
Opinions.

Director of the Mint Leech Give Some
Opinions.
WASHINGTON, Dec. 9.-Director of the
Mint Leech, in an interview to-day on the
subject OF Secretary WINDOWS proposed
silver measure, said it commended itself to
his judgment as the best plan for the pre-
sent utilization OF silver, and contains in
itself solution OF the silver problem. ut
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 it reaches a point
60 nearly corresponding with it's value
in coinage. We can with safety do
away with all temporary meas
urts and restore the law as it existed from
the foundation of thegovernment to 1873.
It is q curious fact that the papers repre-
senting the extreme gold sentiment OF the
East and extreme silver men of the West.
should both oppose the plan, and for dia-
metriealiy different reasons, the former be-
cause it proposes to utilize silver more fully
DO nOu0yS duu UuO tdUtCI OCCdupC lACy soy
it degrades silver to the level OF q commod-
ity. With regard to the latter obje ton
fail to see how it is any more degrading to
silver to receive it in unlimited quantities
and issue notes upon it, redeemable at the
option of the holder in full legal tender
dollars, than the present law to buy silver
as q commodity.
The proposition to issue certificates for
silver bullion is not sure, but has been ad
vocated in congress in various forms by
the most advanced silver men. In some
manner it has been repeatedly proposed in
congress to issue certificates on gold bull
lion and in my judgment this proposition
should become law. I believe it would
have been recommended by the present
measure with another proposition. Gold
bars are extensively used in settlements Of
International balances than coin. Why is
it not just as degrading to make payments
in gold bars, instead of gold coin as it
would be to receive silver bars and issue
representation OF the coin upon it? The
plan proposed by the secretary is far more
advantageous to silver producers than the
enforcement of the extreme limit of the
present law, for the reasons that because,
under it's operations, more than $4,000.
600 worth per month could be received.
Any restriction acts is q menace to the
DrlC0 OI EhN0T. 4uCEcdSou COludS0
the present law would not continue indefi-
| nitely and it would only be question Of
time when it would have to be dis
continued. By supplying an unlimited
| market for the product OF silver it leaves
| open to all natural perations OF the
aw of supply and demand, and the ten
dency OF this will be to gradually and per.
nanently enhance it's value, enabling pro-
ducers to receive larger price for their
product. It seems to me it will naturally
inhance the intrinsic value of the larger
stock OF silver in circulation in this coun-
| try, either as coin or it's representation. l
believe the adoption OF the measure recon-
mended by the secretary, would, in few
years, SO enhance the value OF silver that
International agreement looking to the
| opening of the mints OF the world. or at
| least the latin union and the countries Of
| this continent to free the coinage OF both
metals and fixed ratio would not only be
possible, but desirable, and readily accom-
| plishtd. So far as concerned, the criticism
| that the plan would make O large addition
| to our paper currency, based on silver and
| would imperll the continuance OF the gold
| q andard at most, it must be evident to
| everyone that the predominant sentiment
of the century is in favor OF silver as a
money, and the only thing to be considered
is what is the best way to safely use it.