New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-06-23

why the Government sn0uld pTacucdhy sPeVnn.
from coinage Of the bullion is concerned without
s siEs being nothing behind this p'0n' IN inc shape
S. v. White said
1t really is matter Of very small consequence
tpqes to coin silver dollars. This coinage does not
Ssr ado a. an ny to the the seSrea the
Treasury whereby he makes Treasury assets already
% ss S1aS1 and rage
resulting from the desssed coinage y does not initiate
month is direct increase se" Of the ercSiatSs medium
Eong without any appropriation directly on 1.S
no Ss'ss ssT bought
ounce TO morrow there 10 In circulation ~ + o
sos be which sSy
But the Secretary coins that me asset
ana nc Treasury payment t GDy GG
Sosrs Of s ounces s and paid ali
the addition In new money rs the sesniyaE s tb,m
Sefr ne hSS S 81 tst only changes the
form ana not the substance Of the Treasury asset
Lewis Thompson. cashier of the Madison Square
Bank. said:
and s aaYe not a0f a RSn 8 al the proVsSH act
cay very frankly, howevsr tst am n s srns
q Silver, or anything that looks llc IT, should say
that we had at present, or would have IN tns near
future. much money as VIII DC heeoeo ior u'e oN
ness OF the country.
The cashier Of the Knickerbocker Trust Com
pany Frederick i. Eldridse, expressed the follow
ing personal opinion
whsn the act authorizing tho coinage Of $500 900
Of silver bullion month went into eject nsa
serious doubts as TO its adyisabhy Inc Per The
law has worked injury TO the business hserests Oh
ss Senss but na %c 20 Ss w sff
the to ,1nt Gm the hSS w 81 should
say for him to 20 any further in that direction
TO his discretion in the matter am not prepared 70
UeS cont bonds on the terms proposed by the NcwYork
banks would be an excellent idea
George Montague. president OF the Second
National Bank. spoke as follows:
IT would not be a wise thing on the part Of the
Secretary TO continue the coinage Of silver after july
although such course would doubtless be popular
the weshy questions Of finance as well as hCs eu who
make make them s%pS nso Expansion and
Quent depreciation Of the currency For my psr r.
snne% am one Of the oidfasoned bankers who
believe that the circulating medlnm OF tne coulnvry
selves.
The cashier of the Second National Bank.
Joseph s. Case, entertains views entirely dlnerenb
from President Montague. He said:
am in favor OF free coinage. and think the people
should have all the money they want.
President Alexander II. Stevens, Of the Sixth
National Bank, said
am monometallist ! think silver has IT'S iegn
ny coin, but we have enough Of it at present, and
question Whether it would De wise on tne psr1 OF Of @
ouptry but Of course uptown bankers 90 not make
Sessntsve. OF the larger institutions in Wall street
STILL the extension of the 10 per cent bonds, ADDING
in S ss CT Of sbont
IL 1t seems to me- to add anytMng 10 tne
maturing bonds think it foolish to hagse over the
price Of per cent. offered by the oanks. Az per
cent the banks extend the bonds without expense
10 the Government and at no loss to themselves at
10 per cent they would do the business al loss
The Secretary Is in no need OF money, ana II ne IS h
lie RI
to enable him to borrow all he wants without any
trouble.
Ex-Postmaster.General James, president OF the
Lincoln National Bank, said
have no doubt that 1t is discretionary with me
secretary of the Treasury to continue the coinage r
exercise that power in the direction Of the further
coinage Of silver dollars We have got too many
with bags Of them. The people do not want them
and will not take them i they can help IT, But w. we
dimes Coins Of those denominations are getting badly
abraded.
The president of the Bank of New-Amsteraam
Thomas 9. Acton, said
power to continue the coinage of silver but hope he
sonbt the wisdom Of his carrying the coinage any
further. l glad that We escaped free coin
promise act that finally passed and which qua well
enough for time Bmt Just az present we n"Ve cent a
lS AZ less than per cent would work injustice,
am sure to the holders large number Of whom arc
W small estates is not always good policy in the
long run to Ee Hea at mi Ss time
crowd the mourners" The whole loan. however,
could probably be Aoated at l-2 per cent
o. NJ Denton. president of the Kings County
Bank said:
/ am In favor Of gold basis for everything 90 90
not believe in going coming 100000 ounces ounces OF
well for the secretary to have power to issue silver
certificates in case Of need 1t is, l know, great
power 10 give TO one man. but we have seen the Tune
that quick expansion absolutely necessary.
George w White, the president of the Mechanics
Bank Of Brooklyn, said:
think that we ought to discontinue the coinage OF
silver entirely.
President Edward Merritt. Of the Long Island
Loan and Trust Company, sail:
| am opposed TO the free coinage of silver fear
would be s tq Would be- disappoed in that
respect and not entirely clear as to what THINK
should be done under the present circumstances
Ex-Congressman Felix Campbell who has just
succeeded William II. Murtha as president OF the
Peoples Trust Company, of Brooklyn, said:
am certainly opposed TO free coinage. l voted
70 Change nv views. / do not think there shouh be
any change in the amount Of silver coined at present
amonnt now coined but DO not want to keep inter
ferng with financial conditions and SO prefer tat no
change be made.
John Ditmars, the vice-presldent OF Tue Long
Island Bank, said
feel that needmorc currency Silver Will answe,
that need all right If 1t Is kept at proper fao win
dollars
The Eastern manager of the Empire Trust Com.
pany OF Kansas is b. X. COrwin. When asked
Tor his opinion, he replied
At we p snO With goa inc DON'T hood US with silver shin
pIasters. Remember you can make them out OF silve
AS well as out OF paper. The best Kansas banker
feel ~ I do We want q moderate amount OF silver
only Look at the export Of SEQ 100000 q gold VII!
IL there no panic? Because the crops will soon brin
II back That is our only safety. have just received
letter from the Governor Of kansas o in which n
saws that within thirty days 50,0OOOO0 bushels o
W6ent will be harvested In Kansas. That will brinl
$40 100000 back from Europe, and he says 1t VII
enable Kansas farmers to pay all debts falling Que
hui for that we should have trouble
J. A. Nixon, cashier Of the Fulton Bank. said
believe it would be greatly to the advantage o
he country 70 disc ontnuc the coinage OF INC presen