Telegram-herald., 1890-04-30

Hears Cess eIrculzr. Cf 80 3eth
ulsE. l4selss ul1ch " q spaes - a
ala ~ TIE silver s1ss--on- L
regards tae peaG-ag b.ll as : sslAllAnt,
RAIDER laa ie1r .faeieut. % tie .sslti-
alaf business u E-s co-EtTy he
conservative ua1eEce 0f Nl1aon ass
made ssf fe1 "a Ire bi4 sa4 ths
.er ol .uEaton las 9esn greatly d
L-.l.-.-el.
lae .al- 5 T.tA. o-e az Fresent
$3.50 So gf- 1lr readers tle 1eaent q
l-e e.---lar /. says,
Tie gllspscl of s.lEer -eg-s.4lon .
alL.l 3 poaerrll samll4us upon
lse slgck llaI ket- Although the s.ll
sl.cl reeH.s mo-t lzely ~ pass, th4t
.-lta ped Republican eauc4s Aednes-
o4g llzal, SATISFIES con paEAuFely Les
set .veEFoue La. olt 0le opinlSa as .
.Es -tlni ala-llg eject upon values, Which
nel oliF coln LegacLs opposition, Dot
4Fes e support shlcn otner~lee
would uef le -s.corded. 10 = essentially
tl4l1 promise measure, 4ud therefore
l.ay te ~ srroazly opgosec D the rz4i-
.-4 silver faction 4s y tne strongest
au-.-,l.F.r Le-. for tie same reason,
aeavser. g IS tle more likely 20 become
t-a tt..4se lLe Iua1 - Who under
--tul Lt-.e about 8 .stAlt consequences,
eil regard 10 as tle happy medium
tle plaza agreed lpOn luc.udes the
same forms tos redemption u the GER
l1r4te. a- contained q tbe Window bill
ana ALSO tlA-0l Lle senate nn4nce com
4lttee The notes - De- lssusd Slll be
releeualle .u 0ullon Or lawful money
tur . scgrt.Gn or the Secretary.
Which ,crtuon wiil, e 5 expected,
enable lm to protect the Government
against rne schemes OF speculative
holders of bullion. The compulsory
coinage ot rhe silver dollar j. 70 o. sus-
a-ll-d alt tle Secretary will b Te-
alrel 90 purchase 500. .OOO ounces OF
-..rt u.r month, thus practically absorb
HE 4l ot Ll.s cOuutrys prod act and
shutting ou exports % Europe. Mr..
ISL llolI d e, uot entirely favor the
r-, naturally prelerrng the plan
ul.cl. l, uwn Judgment, he con
slrt..l safest, but be has 40 least been
-l.U.s-tu in Introducing such safe
-l4rI- ts oill reduce all dangers % a
u--.uuu. There j.. OF course, some
-scculAtOl as 20 what President Har-
u-on sail do In the case: whether ne
VIII Cvc lI Official sanctiOn, or exercise
tue power Il veto. Thus Tar the Presi-
G.ut las been conspIcuOgsly silent; still =,
il. .s su WA tuat he Is largely influenced
Psi tlr advice ot Secretary Window IN
--el matters, and now that the most
radical dangers OF silver imitation have
been avoided. the bill may receive his
approval Political eNgencies are such
l4.t &c Wolid be "A grave misfortune for
the party power 10 md itself IN
aote-ousm with the Chief Executive
upon such an important question as
tl.s. Conditions are such as compel
tAe Republicans 10 MAINTAIN harmony,
and uO bll. which would invite veto IS
likely 20 be passed. Without wishing
to predict. Wc incline 10 the opinion
that President Harrison's position IS
sufficiently well understood 10 secure
the drafting OF a bl!l that will meet
with his approval.
LOT course the effect OF this contem-
plated expansion of the currency Will
be- highly stimulative. In the more
sp3rsclv settled parts of the country
there have been very severe complaints
about the scarcity OF money, and even
aL the centres OF population business
has been hampered by the same cause.
| Ou the 81 OF April the total amount of
/ money OF ali kinds in circulation N the
United states was 81 437 ,494, 900. II IS
true this vas an increase Of about sSl,
/ 600 900 within the year, but what IS that
amount divided between a pOpu-
I alton OF about 6j.000.000? The
/ present supply of currency has
7 proved inadequate 20 meet press
.uE demands arising from the
wonderful development of industry
I now progress. In this country II IS
\ now about So per capita. In the United
I Kingdom, WheFe u compact population
+ greatly increases the efficiency of cir
. culati0n Il IS about $40 per capita, and
I IN France, where similar conditions
I prevail. IT'S nearly $40 per capita. In
q country 20 sparsely populated as the
United states. where currency IN some
/ sections necessarily moves with les:
facility than ln others; in other words
,...re a gwen sum IS able to do mpcr
f.ct worS. 10 IS evident that we car
-ff.'v stand considerable expansion
whether 10 be considered advisable o.
not. There : no doubt that the dan
gers of silver imitation have been mucl
exaggerated. and. real or fancIful, thel
are so distant as TO have no effect OF
tlc early future