The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-06-21
MR.. MANTON MARBLE
6iYeS His Views Upon the Pend
ing Silver Bill.
THE TREASURY NOTES FEATURE
1 Condemned. Gold and Silver Certificates
Being Preferable-The Importance
of an International Ratio

Especial TO THE HERALD-Examiner Dispatch
PARIS. June 20.-[By cable to N. Y.
World. -Manton Marble, in long letter,
BAYS: "The Democratic Representatives
who hesitated to vote for free coinage as
mpracticable in the face of an executive
veto, may well reconsider their position
now that free coinage SO clearly hangs
upon Democratic votes chiefly both in the
Senate and in the House. Amy silver pGr-
phase bill complexities the silver problem
without solving it; any free coinage bill
Should be made as perfect as possible, so
lhat the President the more easily may
abstain from veto. which it would be
absurd to anticipate and in order the more
9urely to defeat his party at the coming
elections if veto is interposed. Some
features are still retained in the silver bill
that excuse, even justify, an executive
veto; others will paralyze an eastern
Democratic effort to override Veto For ex-
ample, the new tangled treasury notes have
>Spc better warrant OF legality than
supreme court decision reversing rightful
decision, therefore righteously reversible
But such notes, even if lawful, are inferior
TO silver certificates and worse than a need
less substitute. Our silver and gold Ger
hhcates are paper currency so admirable
that they need no change. Free bi-metalIic
coinage without other help will perfect
that paper currency of ours, making ii I'M
aoubtedly the best in the world.
A Another defect in the silver bill invites
veto. Why should Congress cast away
into foreign hands that large profit Incl
dent to recoinage which is itself incident
TO free metallic coinage at one ratio on both
hides of the Atlantic. Let it be granted
atrrilt ha n
by the great American republic at
Bither ratio and it viii at once con-
Join again in renewed efficiency
two now almost adverse ratios, and the
jMOnometallists of the world will create
.isgain their bi-metallic par and will perma-
- nently give dominance TO that adopted
ratio between the two monitary metals in
domestic trade and foreign exchange
around the globe from China TO Peru. Ex-
listing gold mon0metallic coinage can pro-
reed unchanged; the silver monometallic
coinage can proceed unchanged Any re-
forming of the lost link by free metallic
coinage at whatever ratio will suffice them.
Ii our free bi-metallic coinage does not
fpread, prevail and become international,
II Is apparent that our gold may be prefer
red to our silver as foreign remittance
The New York Democrats can defend no
such laundering toward silver monometal-
hsm. Adherence to our eccentric ratio will
postpone, if not finally prevent, the re
sumption of free bi-metallic coinage by
France at any ratio Our republic is great,
but two republics are greater.
ANY silver legislation should adopt a
roinage ratio of l 10 1879, midway between
pur earliest error of 1872, ! to 10, and our
latest error Of 1884, ] to II, thus conform
ing 10 the ratio of all other great nations by
its metallic coinage. That RATA retains the
present gold dollar and requires a silver
dollar of 400 grains. The reUoInage either
Of silver In the United States or Of gold
In Europe being tue only possible way tt
rSrive together upon common ratio OF
Wee bl- metallic coinage, we who take its
risks should keep and not cast away tt
Yoreign holders OF gold coin the profit Incl
dental to recoinage. With the ulti-
mate cooperation of France thai
of every other foreign bi-metaliC
coming power would thereby be assured
The dreaded silver inundation would be
VisiblE precluded when free bi-metalliC
coinage became international and recog-
spized by the United States at a ratio thus
af&ee universal would insure its interna
tionahty. The dreaded drain of gold would
be visibly precluded when silver became
equally acceptable and frequently prefer
Rble for remittance under one unvarying
bi-metallic par. The slow and steady with
drawal Of greenbacks would not only full
nil the nations pledge, but would alst
transform all our paper currency into one
Of the best kind and in due time release Il
private ownership all our immense treas
ury reserves save an ample working bal
Rnce.D