Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1890-04-26
WINDOW ON SILVER.
Dangers Which Monaco tho Financial Sys-
tom of the Government Through Logis"
lation Proposed by Congress.

Dangers Which Monaco tho Financial Sys-
tom of the Government Through Logis"
lation Proposed by Congress.
WASHINGTON, April 81. Secretary
Window has addressed letter to %
western correspondent in answer to
comments and inq qIiries about the pres
ent status of the silver question. The
Secretary, discussing the pending meas
ures before Congress, and the silver
question generally, says:
"The bill recommended by the Treas
ury Department was framed mainly for
two purposes. First, to meet the de-
mand for an increase of circulation, and
second, to enhance the value of silver
by providing for it an additional and
safe use as money. If approved by Con-
gress it will, in my Judgment, accom-
plish both of these objects and at the
same time afford fair and just basis
for harmony OF action on the silver
question. To the silver interest it
offers every substantial benefit that can
be granted without peril to our tinan-
cial system, and far greater advantages
than can be found in free coinage. To
those who demand more money it offers
an annual increase of from $50, 900, 900 to
0,000,000. To those who insist upon
sound currency, it gives the amplest
guarantees against degradation of the
American dollar. But to those who
would initiate the currency by injecting
into it a large volume of money without
adequate safeguards against deprecia-
tion, it offers no comfort whatever.
And right here is found the secret of
IF hn 20 nf ito
redemption features.
''In reply to your friendly criticisms,
let me invite your attention to the ex-
traordinary concessions which are Of
fered to the silver sentiment of tho
country:
First It is proposed to absorb all the
silver produced by the mines and reduc-
tion works of the United States, there
by withdrawing from the market nearly
one-half of tho entire silver product of
the world and thus greatly enhancing
the value of the whole.
Second. Not content with this con-
cession, which is surely without par
allel as to any other product, the Senate
committee insists that the Government
shall be compelled to purchase 81, 10000
worth of silver each month, making
SD, 100000 n year, which, with the
amount needed for the arts and for our
trade with China, will exceed our own
production by about ten millions per
annum. How is this excess to be OBJ
tanned? Only by purchase from abroad.
In the event of an unfavorable balance
of trade, when our gold will be most
needed at home, we shall be compelled
to export ten millions of gold which we
will then sorely need, to pay for ten
millions of silver which we will not
need at all. This compulsory purchase
of so great an amount will make the
Treasury Department the largest opera
tor in the most gigantic corner ever or
ganized.
"Third, the bill reported by the House
committee provided that notes issued
for silver bullion shall be redeemed in
standard silver dollars, il demanded by
the holder This will give to the owners
of silver bullion the power to convert
every ounce produced in this country
into standard silver dollars at their own
pleasure. True, there is not the slight
est danger that this power will be exer-
cised, because no sane man will prefer
to convert treasury notes, which the
Government is bound to redeem in gold
or it's equivalent, into standard silver
dollars, unless he may want a limited
number of them for some specific pur
pose. Under this bill the Government
will not force silver dollars into circu-
lation, but it will permit any one to
have coined as many of them as he can
pay for with treasury notes. What more
can the advocates of silver coinage de-
mand?"
For all these unparalleled conces-
sions to the silver interests, what is de-
manded in return? Only the privilege
of protecting the honor and credit of the
nation by grant of power to redeem it's
notes in either gold or in it's equivalent
of silver bullion. All of the bills on this
subject contemplate a policy to extend
over an indefinite period, and which will
result in the issue of very large volume
of treasury notes. If they be made re-
deemable in lawful money they must be
paid in the best lawful money, in ac-
cordance with the high rule of honor
which this Government has thus far
maintained, and by which it has estab-
lished credit the pride and boast of our
people. If the balance of trade shall
turn against us, or If distrust shall arise
as to our ability to pay in gold, as it sure
ly will under such provision of law,
or If for any other reason we shall be
unable to redeem in gold when de-
manded, the Government will be COM
PEELED to discriminate against silver dol
lars, when gold will at once command
premium, and this nation will step down
from its present proud position, and take
its place on the financial basis of China,
India and South America. 1t is to save
us from this danger that have insisted
SO strenuously for the provision to re-
deem in gold its equivalent of silver
bullion"
Illie't Love Ends In Tragedy.
BROOKLYN, N. ", April 21.-A. R.
Waterman, manager of Jacobs Lyceum
Theater, this city, shot and instantly
III 1n1 =.