Evening journal., 1889-12-09
ONE CENT
The SILVER CUES TON.
The Director ofthc EEiat Lakes
a Statement.
HE FAyoRs MIR. WINDOWS PLAN.

Director Leech Answers Several Press Crit
iclsms aud Says the secretary's plan is
an Original and Excellent one Live
News from the Capital.
WAsHIScroN, Dec 0-Director Of the
Mint Leech in an interview on the subject
Of Secretary Windom's proposed silver
measure, said:
1T commends itself TO my judgment, not
only as the best plan for the present utillxa-
tlon Of silver, but / believe it contains In
itself the solution Of the silver problem; that
il will afford rendy market for the sur
plus silver product Of the world, the normal
eject Of which will be to gradually and per-
manently enhance the value Of silver until
il reaches point so nearly corresponding
with rs value in coinage that we can with
safety do away with all temporary measures
and restore the law as it existed from the
foundation Of the government to 1873.
have not seen a single objection In news
paper comments which was not fully conaid-
cred by the secretary in tho preparation OF
bis report,
A Curious Fact.
1T is a curious fact that the papers repro
senting the extreme gold sentiment Of tho
east--those who are opposed to any usa OF
silver as money except for change purposes
--and the extreme silver men of the west--
those who would force free coinage OF silver
regardless OF the dangers of our financial
prosperity--shonld both oppose the plan,
and from Numerically different stand
points the former because it proposes TO
utilize silver more fully as money, and tho
latter because they sny it degrades silver to
the level Of a commodity.
II IL an Original Plan.
"Before answering these statements wish
to correct a statement which has appeared
in print 10 the effect that the secretary'a
plan Is similar to one suggested by Mr. Sher-
man some time ago. l am familiar with all
the plans for utilization Of silver which hava
been presented IN congress since 1878 and
have them before me, and no plan has been
suggested by Mr.. Sherman, or any one else,
50 far as | am aware, which in its essential
characteristics is similar to the one proposed
by Secretary Window. The plan is entirely
original with him, and while a suggestion 10
issue certificates on silver bullion based on
mnrket value, redeemahle either in quantity
or value, was contained in pamphlet pub.
lished by Mr. l. w Sylvester, the plan Of
the secretary is essentially different.
The PLANS Enect on silver.
IN regard to the obiectionFrged by some
/ Of the advanced silver men that this measure
| would degrade silver from les position al
money, | fail to see how it is any more de-
/ grading TO silver TO receive il IN unlimited
quantities and issue notes upon it redeem
able at the option Of the holder ia full lega
tender dollars, the notes themselves being
tor all practical purposes q full legal tender
tirst, because they are receivable for govern
ment dues, and second because they ar,
interchangeable with a fun legal tender
coin, than the present law TO buy silver as
commodity.
Pave the Way to Free Coinage.
Moreover, believe It will pave the wa,
TO what is most desired by an true bi-metal
lists, free coinage OF both metals at dxct
ratio. ! do not know Of any bi-metalist oi
national or international reputation who
would consider IL for the interest Of our sill
YER producers or Of our country for this gov
ernment alone to open its mints to the FIRE,
coinage of full legal tender silver dolari
while the market price Of silver is nearly 3l
| per cent. less than its value as coin Certain
/ y Cernuschi, Horton, Gibbs and the mos
| pronounced bi-metallists, who have for year,
fought the battles Of bi-metalism in Europe
| 10 not advocate IT,
Another Criticism Answered.
''In reference to the other criticism that
the plan Of the secretary would make a larg,
addition to our paper currency based on sil
YER, which would imperil the conunuance oi
tho gold standard, Il must % evident I,
every one that the prodominent sentimont o.
the country is in favor Of the use 81 silver al
money, and the only thing to be considered
is what is the best way to safely use it,
"'lhe currency issued under this measure
would be absolutely safe, having behind il
always a dollars worth OF silver as well a.
| the faith OF the government 70 redeem itn