Omaha daily bee., 1890-06-07
THE SILEER DISCUSSION.

The silverquestion has taken its proper
position in the attention of congress as
the most important subject that awaits
decision, and better opportunity is af-
forded to Judge with some degree of cer-
tainty as to the probable result. The
indications are distinctly unfavorable to
free coinage, but the advocates of that
policy may be able to compel
a compromise that will provide
for the redemption of silver notes
in lawful money This the bill
introduced into the house by Mr.. Conger
proposes to do, the measure being in
| nearly all other respects identical with
the house bill. 1t is probable that the
republican advocates of free coinage in
the house are numerous enough TO pass a
| measure through that body with the aid
of the democrats, but it is safe to say
that very few of them could be induced
to carry insistence upon their policy to
the extreme of making an alliance
with the democrats, particularly in
view of the certainty that II free coinage
bill passed under such circumstances
would be vetoed by the president. 1t may
be doubted whether there is single re-
publican in the house, or in either
branch of congress, who is so irrevoca-
bly, welded to the free coinage principle
that he will embnrrass his party by an
alliance with the democrats in opposi
tion to the views of the administration
and of a ma iority of his party. The conces-
sion of the caucus bill regarding the
redemption of the silver notes issued
against bullion, and the provision for
coinage, Cor the benefit of the owners of
bullion, whenever the market price of
silver is one dollar for three hundred
and seventy-one and quarter grains of
pure silver, is all that can reasonably be
asked by the advocates of free coinage
Oh. yielded by the conservative friends of
silver, and there is reason to believe
that measure embracing these
provisions will be- adopted. 1t
is almost certain that none more
radical will be approved by the ad-
ministration, so that us the situation
now appears the free coinage men must
choose between legislation of this kind
tblu lciNIllS SllNcE WlcEO IL ID III Etld-
ton to the currency.
The most valuable contribution thus
far made to the silver discussion is the
speech of Senator Sherman, which may
be presumed to reflect the position of
the administration and of majority of
the republican senators. The distin-
guished tinancier, whose opinions re-
garding all matters connected with the
monetary system of the nation have not
lost their authority with the people, is
ready 10 go to the farthest point this
side of free coinage in employing silver
as II basis of currency. He had no doubt
of the entire safety of notes based on
silver bullion, and he would have no hes
itation in giving such notes pery sane
tion and value the government could
confer He had no objection to tn cir
being made legal tender for all debts,
public and private. There would be no
serious danger in such IA policy, but free
coinage would be a reversal of the estab-
lished policy of the government that
must inevitably result in the practical
demonetization OF gold by forcing it into
private Golfers and into foreign markets.
"As sure as fate" said Senator
Sherman, 'silver would, with free
coinage, be the only standard of
money in the United States" Every man
who will look at this question fairly and
without prejudice knows this to be the
case. No advocate of free coinage has
been able to present single sound
reason against the argument that his
policy must inevitably force gold out of
circulation and to II premium, thereby
making silver the standard, and some
of them have candidly confessed
that they did not regard this as
condition TO be avoided. 1t is
most inadequate answer TO the
argument in favor of maintaining the
established monetary standard of the
country by which alone we can continue
unimpaired our commercial relations
with other countries and preserve our
financial credit, that those who oppose
free silver coinage desire the abandon
ment of silver as money metal and its
use only as a subsidiary coin. The eX-
treme silver men betray the utter selfish
ness that actuates them when they have