Morning journal and courier., 1890-04-21
FROM ALL QUARTERS.
TIE COINAGE OF SILVER
Twelve People Injured in a
Bridge Accident.
A FATAL POISONING CASE.
Heavy Gales Encountered
BY a Steamer.
MINERS SUFFOCATED IN A SHAFT.
Several Desperadoes Killed
In West Virginia.
MINERS SUFFocAIED IN A SHAFT.
THE SILVER QUESTION.

THE SILVER QUESTION.
A Letter in Answer to Comments and
Inquiries Upon tho Present status OF
the question - The Purposes for
Which tho Bill Was Framed-Atten-
tion Invited TO she Extraordinary
COncessions which Are offered to the
silver Sentiment OF the Country.
WASHINGTON, D. O., April 20.-Seeretary
Window tonight gave out the following
from letter addressed by him TO western
correspondent in answer to comments and
inquiries upon the present status of the sill
yer question:
The bill recommended by the treasury was
framed mainly for two purposes-6rst, to
meet the demand for an increase of ciroula-
ton, and second. to enhance the value Of
silver by providing for 1t an additional and
safe use as money. If approved by con-
gress it will, in my judgment, accomplish
both of these objects and at the same time
afford fair and just basis for harmony
of action of the silver question. To the all
yer interests it offers every substantial bene~
fit that can be granted without peril to our
financial system and far greater advantages
than can be found in free coinage. To those
who demand 'more money" it offers an an
nual increase Of from $50, GOO, 600 to $780,
600, 900. To those who insist upon sound
increase it gives the amplest guarantees
against degradation of the American dollar.
But to those who would initiate the currency
by injecting into 1t a large volume of money
without adequate safeguards against depre-
citation 1t offers no comfort whatever. And
right here is to be found the secret of much
,Ek H. ,S he I'm,
features.
Let me invite your attention to the extra
ordinary concessions which are offered to the
silver sentiment of the country: First, it is
proposed to absorb all the silver produced by
the mines and reduction works of the United
States, thereby Withdrawing from the
market nearly one-half of the entire silver
product of the world and thus greatly en-
haneing the value of the whole. Second, not
content with this concession, which is surely
without q parallel as to any other product,
the senate committe insists that the govern
ment shall be compelled to purchase
81, 5000, 900 worth of oliver in each
month, making $54, 900 q year,
which with the amount needed for the
year and for our trade with China will
exceed our own production by about tep
millions per annum. How is this excess to
be obtaineda 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 surely
need, to pay for ten millions of silver which
purchase of 30 great an amount will make
the treasury the largest operator in the most
gigantic "corner" ever organized. Third,
the bill reported by the house committee,
provides that the notes issued for silver bull
lion shall be redeemed in standard silver dol
lars 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 will and pleasure. True, there is not
the slightest danger that this power will be
exercised, because no sane man will prefer
to convert treasury notes, which the govern
ment is bound to redeem in gold or its equiv
alent, into standard silver dollars, unless he
may want a limited number of them for
| some specific purpose. Under this bill the
government will not force silver dollars in
| 40 have coined as many of them % he
can pay for with treasury notes. What
more can the advocates of silver coinage de-
mandi Surely nothing, unless they desire to
| compel the treasury to force standard dollars
into our circulation for the sole purpose of
deprsciating and degrading it. L. It not
enough that we take nearly one-hslf of the
worlds silver product and lock it up in or
der to increase the value of the other half,
that We join the silver producers IN the
most gigantic "corner" ever organised, and
| that we give to the owners of silver bullion
the right and power to convert every ounce
of our product into standard silver dollars If
they choose to do sol
For all these unparalleled concessions to
the silver interests, what is demanded in
returni Only the privilege of protecting the
honor and credit Of the nation by grant OF
power to redeem its notes in either gold or 10
it's equivalent of silver bullion. All of the
bills on this subject contemplate polioe to
extend over an indefinite period and which
will result In the issue of q very large volume
of treasury notes. If they be made redeem
able in lawful money they must be paid In
the best lawful money if demanded in &C
cordance with the high rule of honor which
this government has thus far maintained and
by which 1t has established credit, the pride
and boast of our people. IT the balance
of trade shall turn against III
OF If distrust shall arise as to our ability t
pay in gold as 1t surely will under such {
provision of law, or If for any other reason
| we shall be unable to redeem in gold wher
demanded, the government will be compelled
to scriminate against silver dollars, wher
gold will at once command premium anG
this nation will step down from its presen
proud position and take its place on tn
financial basis of China, India and Soutl
America. It is to save us from this DANCE
that have insisted 80 strenuously for tn
provision to redeem in gold or it's equivalen
of silver bullion. know of but two ways b.
which the proposed issue of treasury nste
can be anchored to the recognized values o
the commercial world. One is tho bulliol
redemption feature provided In the treasur.
bill. and the other Ia authority to soil bond
, in order to provide reserve fund to NEE
the constantly increasing volume Of proposes
treasury notes. The latter believe to b
both unnecessary and unjustihable. IN
former believe to be entirely PRACTICABLE
and safe. Even with this safeguard agatns
destruction to the fair fabric Of our nations
credit the extraordinary concessions abov
mentioned approach a. near to the changer
GUS edge peril" as prudence will dare t
tread. Rather than 20 one step further !
that direction, firmly believe that 1t wout
be far better to have no legislation on tn