The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1890-12-27
NATIONAL FINANCES.
Director Of tho Mint Thinks there
will be no Legislation.
SILVER MEN TOO GREEDY,
Thoy, nro Hurting Their Cause by
Rcachin. forTo0 Much and Prob.
ably will Block Everything.
Handling Silver Coinage.
Specto, Dtpo!c4 to he n,eilfgeacr.


WAsulSGTo%, D. G., Dec. 2G.-"l dc
no. believe Congress will pass any kind
Of financial bill a. this session." said
Director Of the Mint leech 10 your cor.
respondent to-day. "rhe cagerness ol
the free coinage mon will beyond reason.
able doubt defeat every proposition look.
ing towards the enlargement OF the cir.
culnting medium, and especially all
propositions relating to silver. 1t Is un.
fortunate for the free coinage interests
that It's advocates cannot SEQ that any
movement in the direction OF free coin.
age at this time 10 q death blow to their
proposition, and that although the bus.
iness interests oi tho country demand
tho adoption Of u general financial meas.
ure, they will detGnt it II they continue
to preeB their views upon Congress. |
some times think that the friends of FREQ
coinage are In reality its enemies at this
time. Think the Senate will pass free
coinage bin, but the House will refuse
to do 1t, il for no other reason because
such proposition cannot get out OF
committee, and any effort made to amend
bill by providing far free coinage will
be ruled by th9 Speaker AZ nos german
10 the subject matter under cona;lera.
tion. II the free coinage men were
tacticians they would not now contend
for anything, but simply bide their time
and 20 10 the front in the next Congress,
the lower House oi which will be organ.
lied by free coinage advocates beyond
reasonable doubt"
"Would the Treasury Department OBJ.
iect to the proposition to buy up all the
American bullion in sight?"
In reply the Director Of the Mint, who,
by the way, ID as good authority upon
financial matters az Clmcst any man in
Washington. sold: "Therc could be no
objection whatever 10 not only buying
up all American bullion in sight, but
making Law for the purchase OF the en-.
tire American product, for under the
present law We more than conBume all
OF the silver produced by the American
mines."
Mr.. Leech was aeked what provision
could be mado without imposing duty
upon foreign silver to exclude from our
makets the products OF foreign mines, il
free American silver coinage lava
law providing for the purchase of Amer
lean silver only upon free coinage
basis-should be adopted.
'The United States mints,' said lie,
would simply ctamp all foreign bullion
received with the word 'ioIeign,' and
under the law it could not be purchased
or coined. Certainly foreign producers
or dealers would not send to our markets
an article which could not be sold. All
foreign coins which are not OF proper
weight or fneneHs would DO thrown out
by our merchants and q. the minta. The
most serious feature OF the entire asita-
ton about silver and financial legisla-
ton lies in the fact fiat the Tree coinage
advocates. being unwilling to yield their
hobbies Tor the good OF the country ct
large, are going TO defeat all financial
legislation. The question OF a new or
permanent financial basis for the Gov.
ernment is by all odds the moe. import
ant that has come or can come before
the people, aud it seems that this is to
be cast aside without any action, simply
that few men who are making capital
cut OF hobby or have interests to be
advanced arc unwilling to yield their De.
mand for free coinage at this time, when
it is impossible" i"