New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-06-24
THE SILVER SITUATION.
VIEWS ON THE QUESTION OF CONTINUING
COINAGE
GENERAL INTEREST IN THE PROBLEM whlCh
coSFRoyrs THE SECRETARY OF
TIE TREAsUR'

CONFRONTS THE SEOtETAhi VI
TIE TREASURY.
TIM intcrvews which appeared In The IrDnno
Yesterday regarding further coinage OF sl'cr "
after July l attracted much attention III nn'n' %
commercial quarters The general schtlnen' u, .n0
direction Of a suspension OF courage "i"O' 49,,
tari,ed the printed opinions appeared 10 me- VIZ
,,,.ys ~ all who talked upon the subject Yesterday
ho.her for nublratou or not. it Is evioei, li"'
the recent suggestions that the secreturS Va w
rrcasnrv may under the third section OF the act o'
the full amount OF 100000 OUNCES VI
month has taken conservative b1oKer , " earing
A well known nnancler voiced TINS vie" W s"' ,,.
"a soct,on N the law which meant In lts splri'
rd nurpose To be prohibitory in the nlatVT VI H"''
tho coinage Il being construed as perrnlss'Ne. ,
cr,tcIsInU further that section of the law Hi.
- harseT said: AT the time the law was passed
the COMPROMISE feature was disuhcuV roN's
II vas understood that the secretary Oh Tue
while directed to purchase cer'ain nlSA''I" .h -
~ silver each month, was not 10 com ni''o W
,n. ba neccssary to provide for the redemption vi
,ho Trcasury notes issued under the PROVISIONS "a
.no hill The meaning would have Oceh ve'Vci "a
O'o .s :. ,ha act had read 'And after that time
fIulv 1so10 he shall coin OF the s'Nc' O
nrrclased only as much as may be necessary e =,
~. ,ho vor, only does not appear IN the teAO y.
the bill. and under the proposed ihierpi0''"'A -
Tho Language the real spirit Is ignoroa'
Additional interviews are given below ana reaons
., thnm will demonstrate the strength OF the Se,''-
mont AGAINST increased coinage. IL VIII ai'o 's
49, tc, which will be mos; pleasing 10 oil friehds
~ silver that the opposition to further oo'hNso
~. nroceed from any hostility 20 silver ''' pou"e
~ the country, but from apprehension y, a,aI s
departure from the principles Oh d eo"s -, provton
tom The temperate views expesSeo W -, "a
49,, ~ tho ceneral subject Of a silver cur'en0y on
~ ,,,nro service which the metal IS oesV'noN "
nondor will be read with especial h'ereSV, AL. =,
,a. Who returned to the city yesterday ai'cr "
long absence salu -. -, on,osed 10 the continu
Tn the first place should be Oppose ras,s on tina
- ., tho coinage Of silver on The presen' -. nd
ance oil ue oo ,,, o,rcady exceeds the demand ana
-. s,,uanee would tend 10 diminish 1he 'a - -
amornt now on hand. II is wen hho" rras,,r, and
80 o., the huge amount OF the com ia "0 -. =, .ha
S- an Increase would in accordance WIN Oh. Atn
uereiore 100, ~ trade diminish the value OF I'a"
-, 80, been coined. 1t seepls 70 hle ''o -.
- ,oEe a mistake also In ad'oeS''"s 80
,roca beeause the tendency OF silver AZ ooted by
coihage, ' rno and this rise would be pronio'u "
ahsto,ninQ from anything whieh "0U'N
=, coin which IS not now neeoeu' =, . roo COO
VI v sract to coinng the full amount o i'' t.
o.rces ner month"; and thereby cohNeI's ,nt,v il so
a no 600 Of coin, it may De saiu ' .bat ~ could
rich and powerful and its ccu' - ,,nort injury for
ao,,h,,dlv pursue such a course "i'O ,,,no "a tho
,,, 20, u would be such O palpaDie 'iVio -,
mol, Established laws OF finance that n, Iuo a man
100, unfayoraby and in the same way Wv let for a
I,-fgo Might Nlol1Je uio i""N
b,icf period the time must lhe'i'HO'
,soI the bad effects OF such cou'Se' .s with this
''', W , danger It seems to mo, associated WIN sD -,
entire question to be found IN 'ne =. O., financial
ho moral tone OF the" country IN resa v ~, hosis NJ
W, ,,,,s We cannot afford to deIert ron uo 49,, =
oDiisN ,.,,tv wish II distinctly undersVoOu Oi". ',
' .SI ,os,t,on not a. an opponent OF siNer, -
$3.50 I believe silver Will surely resu"ie' ~ 400
,,,,oIv short time the place IL helu only >. ,or,a
,1s % circulation 1 think the tchu'hc, u a.,
that direction,
I'LL ~ - %, reonle tD decry silver o. o"S VI "a
,a,ion although this seems to be Vne pVpa ol, nor
do at the present time. In oruef " . ,ho ovcassiye
-. clear let me say that my oppsVoh " o,inst
- silver Il based, not on any preJuu'oo s,.,,
co'h'S0 ~. % ,be country but principles OF p'i
'V nd financial honesty which ha'e 0o -,
eeonU's ,ho only sound policy Of government " 80
CIVILIZED nations ,,, ,,,oro nc followsi
-. T white-The finances OF the eO' =, n
hoo cold basis and It will be the Des'hnlns a.
eo, deal Of trouble when we ma o sa, ., foreign
or,ino therefrom. There has Ueh 81 49, t,yeatrnent
ontal sent to this country IN 'ne p aS that all
% =. g. ordinarily accompanied by ins'fur"o 'ron,
ouV " I'll no made payable In gold 1ney o.! IS,
~ novable principal and interest," IN so'u rSIs
oct 70 buying anything that Is ho' at,on Of the
COO, tolls its own story. inc con'' -, much of
i"S "a crrrcncv questions is rosponsioie lor 49,
@rh orr - O. husiness from which we s'uisF .'
,, rc, IA 70 destroy future calcuaeiouS' vtn
- ,bs and foreign countreS' Ahi' p -, .o,,,sd
,,ro until this currency question az l." 81 remain
W 10 toted It is be hoped that We '""'
upon gold basis. -, ,ho Corn Exchange
.,tn1 the issue Of silver eertlnca"S sno -
.no1v pnon bullion. We have more si'' ~ oo,,o,n,v
whos snd their way into circulation am coras
s 70 the issue of certificates that have no
,ro bohtnd them, seems 70 DC INC p =
Nv. -. the new law. 1t is great deal Dee''r oi -
~ s notes that are on q parity with the se'u'g 70
ia tbam than to make new money Ouseu VA VIZ
noo ., the profit arising from coinage. 49, ,,,,
,aroe. w Conrow Of the Empire state banA-i .',,
. n"d no On excellent idea to stop coinng sn'ri u"
Iuv l. We have silver coined no" u'o" " 90,
ha. % do with The vaults Of the Treasury ae o'oi
evnp with IT, and the quicker its coinage Is e'opo1
hotcr Tor everybody except. perhaps few mine o"ner
Fernando Baltes cashier of the Mechanics ana Iraoe'
-, -. rerfact confidence in new Secretary OIL
h Treasury and do not TO make any suggestions "
him think the can stand the continued co'n's
- a limited amount Of silver. a year ago we III ho
Fast all thought that to the coinage OF silver
would bo DISASTROUS but no bad effects have yet been f
and don't knowthat there ia now any Danger from uA'
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