New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-03-10
THE TITO SILVER BILLS.

Voting in the House Committee on Currency
on Saturday resulted in favor of some vital
features of Secretary WINDOWS sllver-bullon
plan. Mr. Blinds motion to strike out the
first section of the Secrctarys bill and sub
stitutc the first section of the Senate bill
which provides for purchase and coinage OF
81. 800. 900 per month, was defeated by five
yeas to seven nays. Another motion by Mr..
Bland to strike out Mr. WINDOWS restriction
Of silver deposits to bullion of American pro-
duction was defeated, three yeas to nine nays
Mr.. Mutchlcr, Of Pennsylvania. moved to limit
the purchase of silver to S4.400,00O per
MONTH which would have destroyed an cs-
sential feature of Mr.. WINDOWS bill, but that
was also defeated by the same vote.
These decisions are all reasonable. This
country does not produce As much silver as
81. 500 OO0 per month would buy at present
prices. and there is no sense in requiring the
Secretary to import silver rather than gold
bullion if the country is to buy and import
either, it might as well get that for which at
any time il has the most use. Neither IS there
any reason for declaring that particular sum
should be taken or should not be taken by the
Treasury in any month. If more currency IS
wanted at any time silver bullion can be de
posiicd under Mr.. WINDOWS bill in such
amounts a may be necessary. But when no
more is wanted, the compulsory purchase ana
coinage, which is the distinguishing feature OF
the Bland bill under which the country Ilas
been living for twelve years. must be held
supcrlativcly foolish Restriction to bullion Of
American production will sufficiently limit the
amount offered to the Treasury, if the mint
estimates Of production and use in the arts are
approximately correct and should a better
price for silver result III a larger output by the
mines, that larger production would presently
tend to deprcss the price again. unless the
higher price should prevail in other countries
also. in which case it would he all the safer
for this country to lee carrying bullion worth
more than the notes issued against it.
The Scn1toS Finance Committee has reported
its bill through senator Jones. and II i stated
that Senator sherman was not in favor OF 1t,
and that Mr. Mcpherson, of Now-Jcrsey, also
| opposes. But in that committee the people
who believe thai coming metal somehow gives
il a value which il had not before appear 20
have the upper hand. The net result of the
coinage of over BOO. 100000 of subsidiary
dollars has been 70 dcprcSs the price Of silver
20 the Lowest average ever known during the
last year, and to confuse the minds Of a great
many people so completely that they no longer
know good money from bad If the two house,
should pass conflicting bills, the Senate OPP
posing and the House adopting the recon-
mcndations of a Republican Administration,
action at this session might be prevented. hui
the people would not find it difficult TO decide
which Of the two measures deserved preference.
For the notes issued under Mr.. WINDOWS bill
could never have any other than an established
value in terms of gold, while silver dollars and
silver certificates issued AT the rate of so 900
900 yearly might soon come TO be worth less
than 20 cents on the dollar in all dealings.
exactly as the grecnbacl., came TO be worth les,
! than 30 cents on the dollar.