New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-10-29
THE SILVER POLICY.
STATEMENT FROM THE DIRECTOR OF THE
MINT
DlsPoslNG OF CRITICISMS OF THE TREASURY
MISREPRESENTATION OF PURCHASING
CAUSES Of THE DECLINE IN
TIE. PRICE OF SILVER.

TIE PRICE OF SILVER
Washington. Oct. 2o.-E. .. Leech the Director Of
Tue Mint, males the following statement in regard u
'c treasury purchases OF silver bullion aid the cau-cs
I'll W.; recent decline ia Tie marEe; price OF silver:
~: Treasury method Of purchasing silver has been
pmrrha'cs IN IN 'mc'e rcnlaTs tirs ,nst ie ,gc
silver bCngnt; second the London prize is uiei
a. brl> oi Government pur base third. that tn bids
! iavorti,m.
.ol In "t"d to The nr, rriicism may ssy that the
Government pure has, silver IL II does bonds or III,
aed any ariel, required ia considerable quantities Dy
pubic competition. the lowest onc'S being always az
pre. tHr Leleii, Of sGrsIl pradaccT, however
Ghn "'"I o'r"i,r b. "niScd 70 Ii'"" ,rosn AM
n""hed To- ptr' ee small lot. at price nNea l,Hm
i Tug nlar.ct price OF silver Thcs" phrc''c, aVrFas'
possibly hail million ounce monih' ala are IL
Ne"old. 1t I, true that London price lilN been
iSFi ~ the basis Of silver purchases hih"r INC ne"
the London price the only prcs used In making
pmIh1,c 'r ilr Depsrnent did not pay 'hr h e W,s
lTn win show. bu, made counter Offers Z, bldd~r'
on IT, theory that silver wa worth rss n New YORK
tUrdIt" "'",> the wacr. The pr sent AInlliS 'Tailo
| -, hci Governed IN ii, purchases hy The New Ioie
i|'''' ara ma r'id at Time" III A'rNs VI NY nm
prc - "hirh rIilntltS sold In the ciiy WE same
! DAY uf coHsc III, toverninrnt ACCEPTS the lowe,
BIO i1' tn" SALE Of silver, but i does NOT rl}ee TI
there no I,"cr bid, viii accept any bids within
Of the >iIvor law. indeed ior some months
',.,. Ina, iGr rIru,gl% trit Itself limited !" 'V !"
Th-l In cta.,i 10 the Government quotations being
Fl u'''na. ,Mis, Or 81 our 'nr -, "n :, tho
Governments purchases Of late Is that h'i-H o":ia&
Large lots have been nideYld 10y fhc hnna|th pn ,
! n cent. me government Quotations ar ILL.,, VI.
II dcclmal basis. winch l. great advantage to thoHr
Mhn ma' havr adN3r"d nloF.rn III III c Syr drS
Vow in regard 10 M, nny b. Ia h,a, ~" nI xhnt
ever seal" ,t tloa hr> An prrHn WIZ dn r, house
may offer II at any rice lr ser NJ II ,, ",V ~ ,hn
t;",rrnmcnt 10 define the lower bill bccansc Of 'hr
| 4 rimal rlc idea II ANY Hex hNlhs nu ~. n
pa, !, rdIculou, and mp ,Ihlc the ore', Tor u''
al" Of silver all i1"!" by 'er:rIpn MM h, ~,
idrn VIII, II VIII pa, utl all thu OTTER, are "pfn"d
f. acrcta"'r. hns s%I"Fn'@ r!rT J , oil ",c D are
nrnd, va, one 10 4.r"rtI Or r""c'"i ar and the
,"N o', , ,,,c 'in'n n,' 80 o" t,rrly ard p"naIy
* him. and rIr i'ld - nnnr by 'r4raph Of u"
~ n', ,.' ar r.. ION Of h"'r bids. Th" whole
.,d's .s un orlup, Gf.ren ,nlaltc,. T! I'M
;" n ,. ,' i viii inn i, 10 acrcpt tho Iwc,.
in'h' i@ t""; w.' Tor The Director and III,
| h''>' Vac "'N ,Irw,,,i,' ,Im, low much ms yvu
'r r,vc DAY ,l how favorable the Offer
compared with IN" market prr' IL t''iv ,""
E' o Imf L "% r,uG be drnU
GIVE - sn'H 80, rr,,.,r ~ ' ,,r: All Admn,
! 'T.r nr. ,'t%. -
Ii s'r To- III" !r'''n d"r, G ~ ' nI ' :" mr., :,
,ptnrut that ih"l u.'i "nN d" stated tina thIl ul
f,i.. ma, l." M a>ur'- IN m" fr>' ra'' ~" ri',l
neutrality-suspicious. the lurrIn~" ~ The "'rtn'"''I 81
I3@7G - our'.> 81 silver 'i"'" W. li'i L.. .",,
ar- al undinni-h'd "ck ,ithirt ~ ii", :"
hah" p''" '.,,'..i" ~ w. - ,,h. " m.nai
'"u.s" mt D.. "!'t 81 y -, 81" J." ',l' ,,is
- r'ri t.''N 80" -'h VA =" Ia 'n,r '' nv I,..
t'' t"r'i ni '''' &C., It" MI'''I y, ~, , IT.. H., e.,
Il r'li" - .-'' port i"'t "'' r'': "'r 80 49, 49,
o." -, m.'r =" r' -" CO.. Vs., - .,, ,l ",.r
d . -,f II .r ~ l"'' !. ',rl'' ~ -, such
/ hH' tom IT, go in"I't''l "t ~. - " cory nm
r".hnc' - ', re ~ en-, ,H' ,.vc, t. :ccun,nat"
.. 'i-' 1' 5,d .,I,,.;r,,I /, Narta"a l;i. AID
=, ath. Ia. It IT, rAe fo.! al 81 ,;Ivrr: TO
D. lpdeu"' Their ,h"!lt nr law cna'''i against
d". e., r,',. or ,, ma-, ,r e,ro-, ba, almost
1"" r'"fI t"ntnl Tor NIvr tor rnV"l "I iui inr.s
%st' - i"r'c' ,i'v h'y" h", >Mip r ,' =. fac,
ih'' " lnl''- q, >','f -" 'm. ,' ,.,r have ~,
'', -" .r'.' .. d., @, w,ii,. f,r m" core
.,,,rIrd IN" la,p"u, bv ai"i 800 !, d:rrHnc" Of
-io-;-.ir. mi 'cc"ri, f. III" ta', tlat ,, M''ir
~" '"N""m'"i "a pr h'>r' -, . j ,t L," no,
',n -r' '"rr "a" un" = az t"' ~ ,.
,,,,, - ,. ,,', Lrl,w The usual am"uli
;!'" to- "lIt 49, G'' , r'r ,i nj 81 tr~.
49, ,, ~ r.r;rd T., ire na,.r. ,no,rui"n % -il.,r
t',' " ,H So" ,lr Si,-,,t- f.,In San Frau, 800
x H., u, d" , ,,,.' - Steer hurIIr, b. brri .np,.d +,
re- tr,,3t t.,m ,,m lr, ,cl.,o >,a,. Nay "i il.,
n'n' wan" ~ w.; 81 - r,", X,,r
!
me" - -, 81 ~ ~ - r :" ,.' . r,'r
'"H'l '' ' ~ h,'. ,.,, 81. y,ip,.,.
! 'i'h. MI - = "i ''"''''h, ' ~" NIX. s'P.
( ir'W L'1pN ~ '', '''"', u, % - ~, -
'I'n ;'N wa 'I"' :" "a = D." ~ ~, '' w., $50,
: ''' '''." 80 ,,, ,..,n, ~. ,Lt :, f,r. a ~
D -. -, year. nj t'at I'I''nm 4" utl ~ '"' q "
+ i'i".Hl q old her lt"r q Il "N ~ w LINN
/ Fran IVA a large m M r nv r N u "'hl
L.. '--I'i 20 l"at. fhu~ dom "a WIN W" u" a.
! i"mr:i ( ,llN in That empire, a." IN ~ - .
e. tr' I'm" pr ,ft ~" p 80 ""u , :. =,
! -. WIrh Wb. e. " n'"n III PIE "l >'N'r ms -
,,,df'y i,,d.r. ,.l from Imlua' on Of t'' pr -
= l,rlan - 81 luc., "a. qu .rd N l,udo" Tie p"ca
-. f., +. /. -! ON Il. ia. t. . 81 Ma liet
-, - a.. ,..'..t t.,r tint T., fr ~ 90 c"ut,
g.. ,,.r, ~, ,rc,.,.c 81 . r.; pr rnrc. This.
j.. +" ay. ever, Fur'' m"r.Ia!: w. ..hl Nh 20
i,f h,Ii ii -, h,"r. tn,u n" a. -" IT, t ." Jana