Morning journal and courier., 1890-01-23
wINDom,s SILVER soHEmE.

What Some of New Haven,s Bankers Think About It-Oshers Who DOnss
 Think About Is.
 The plan of Secretary Windom to make . better nee of silver than has hitherto been made in the monetary system of this country is attracting general attention and exciting much interest. A reporter of the JOURNAL AND CeuIHR talked with some of New Ha-. ven's prominent bankers yesterday with the following result:
 Mr. George A. Butler, president of the Tradesmen's bank, who is an authority on the science of currency, expressed himself e follows: There are objections to 1t, as to all other similar bills. It violates the primary and fundamental principles of currency, money as e measure of value, as we'll as Q medium of exchange; and to make . stand ard of value of material continually fuctu- ating in value can never be wise legislation. It is impossible to tell how it will operate when put in practice. If tho owners of sil- yer can obtain from the government only the market price, why should they turn 1t over to the government unless that be their most convenient customsra If 1t does become operative, and accomplishes what Secretary Windom and it's supporters hope, 1t will bring the country to silver standard. In that case silver coin might rank on par with gold, but there is no assurance for be- lieving it. It might be worth as much, or more. If silver continues to fall certificates would be depreciated; should 1t rise, then the certificates would be worth more than gold, which would had to the withdrawal of silver and the probable exportation of it. The | fluctuations of silver would be so uncertain that it would be impossible to tell whether or not we would have steady currency. At first there would arise an enormous expan- sion of the currency, rise in prices and an outflow of gold. Then if the silver advanced | in price there would be @ contraction of the currency by exportation of silver, caused by l this rise in value. In any case the value of currency would be huctuating, being Of l greater or less value, according to the rise or fall of silver in this or other countries. Con- sequently we could not say we had real standard or measure of value. There is noth- ing to warrant or justify such experiments in | currency.
 Mr. Wilbur F. Day, president of the Ma. tional New Haven bank, had not studied the questions sufficiently to give a detailed ex' pression of his views further than that he
 thought 1t an able attempt toward settling ( vexed question which must be settled in the
 near future. If there should be any loss re-
 sulting it would fall on the government, and
 not on the individual.
 l Lieutenant Governor s. E. Merwin, pres-
 ident of the Yale National bank, had moi
 read the plan sufficiently to give an opinion.
 E. z. Stoddard, president of the New Ha.
 ven County bank, was too busy to talk about the scheme.
 Hoadley B.. Ives, president of the Fail Haven 6 Westvilie horse railroad company
 had not read the plan but was favorsbly i'm
 pressed with it from what he had heard. H,
 had heard much comment upon it and mos
 of this was favorable to the scheme. Ex President F. s. Bradley of the Yal : National bank Lad been too busy to read tn
 details of Secretary Windom's scheme. Ex-Governor James E. English of tn First National bank had not read the plan
 'I do not give much attention to such mat : ters now," said he, ssbut hear that it generally approved"