Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-01-11
Free Coinage Not Exactly Shelved,
but Postponed for Awhile.
MATTHEW MARSHALL'S OPINIONS
After an Interview With Mr.. Springer,
Whom He Describes as
A NAN OF INTELLECTUAL ABILITY


ested only in the daily fluctuations of tn
prices of stocks and bonds. the notabl
events Of the week have been the fall il
Chicago Gas Trust certificates, and the ris
in the stock of the New York and New Eng
land Railroad Company. l have no NOR
knowledge of the true value of these securi
ties than has the public in general, nor car
1eKplain their ups and downs any better thai
any one can who derives his information
merely from what he reads in the news
papers. As to Chicago Gas, however, will
say that wonder that people who live il
this city would buy 1t at all, when they car
buy stocks of our home gas companies or
nearly as favorable terms. and with a mucf
better assurance that they Will get wha'
they pay for Consolidated Gas stock, foI
example, which sells for only little above
par, yields dividends of 5per cent pei annun
now, and, as the company is earning fully
per cent, and its business is steadily grow
ing, the dividend must sooner or later be in
creased.
The low figure at which the Legislature OF
1857 fixed the price of gas is an effectual
barrier to further competition. and the
existing rival companie the Mutual and
the Equitable, cannot keep up with the de
mands of new consumers. The Standard,
too, though it has been badly managed, has
now brighter prospects before it, and is not
unlikely to prove to be good property.
certainly would recommend the purchase
OF the stocks of any of these companies in
preference TO Chicago Gas, as well as 10
that other Western fancy, Laclede Gas.
The Tide Bound TO Turn.
As to the New York and New England
Railroad, the entrance of Messrs. Austin
Corbin and Charles Parson into the COM
pany's management entities the stock to
respectful consideration, but whether it is
worth the price it is bringing is one OF those
things that no fellow can ind out who is not
in the confidence of the men who have lust
fhsa
/ cannot help renemb mbering, too the numer-
Gus occasions on which the stock has been
pushed up even higher than its present price,
upon quite as plausible stories as those now
in circulation, and with bitter disappoint-
ment in the end to those who accepted them
authentic. Still. that is no reason why,
this time, the hopes of buyers should not be
fulfilled. Because man 1ailS to throw
double skies or double aces with the dice
nine times running. he is none the less likely
10 throw them at the tenth trial.
Far more important than these local cat
aclysms, to one who takes a broad view of
financial subjects, is the emphatic and posi-
tive declaration which the Democratic
Chairman of the Committee of Ways and
Means OF the House OF Representatives the
Hon. William NJ. Springer, of Illinois. made
at the jackson dinner in this city, on Friday
evening, that there is not the slightest
probability of a free coinage bill becoming a
law during this Congress, nor is there the
slightest probability of any amendment be-
ing made to the existing law on the subj
Abandonment of the Silver Issue.
Mr.. Springer, from his position is the
recognized leader of his party in the House
of Representatives, and as that party is
largely in the majority in the House, what
he says in regard to prospective legislation
is authoritative. 1t may safely be assumed,
therefore, that since the present Congress
continues until March 4, 1898, the silver issue
viii not enter into the coming Presidential
election, and that the agitation OF it as a
political question may be regarded as aban-
doned for the present. This is in accord
ance, also, with the declarations of both
political parties in this State and Massachu-
setts made previous to the recent fall cleo
tions, to which L called attention as far back
as the end of last september.
Nevertheless the partisans of free silver
IN Congress are not to be eXasperated by
this delay in bringing their cause before the
country for its Judgment. They are too nu-
meIous, and control too many votes to be
summarily suppressed. To placate them,
therefore, a bill is TO be at once introduced,
with the assurance OF its speedy passage
providing for an international monetary
conference, 20 be held in Chicago, cotem-
poraneously with the Worlds Fair in that
CITY in 1888 at which the silver question is to
be exhaustively discussed before the whole
nation. as it were, and an effort made to
bring about settlement of it which shall
commend itself to the majority of the peo-
pie after they have been more fully informed
upOu lll6 SUBJECT lDan I0eN are at present.
Some Significant Expressions.
This is probably what Mr.. Springer had in
his mind when he added to the declaration
I hsve quoted, that, eff any measure on this
SUBJECTS passed it will be one which Demo
Gratis, North, East, South and West, can and
will cordially support. 1t is possible that
such measure, acceptable to Democrats gem
orally, may be a-reed upon and become a
law at this session Of Congress. 1t is of the
utmost importance that we should not per-
nit differences of opinion on the coinage
question to divide or embarras us in the
Presidential contest upon which we are
about to enter"
To this may be also added remark made
the same day by Senator Carlisle, of Ken
lucky, that III free coinage comes up now
and is defeated it simply retires for the
and comes up again. 1t cannot be /
killed by defeat. and by itself the United
States cannot afford to undertake the work
Of rehabilitation or of maintenance of a
double Standard
had the pleasure OF an introduction to
Mr. Springer on Friday, shortly before the
Jackson banquet and OF few moments,
conversation with him. / was much i'm
pressed with his manifest intellectual abil-
ity, and charmed with his unaffected sin
cerity and candor. He made no secret of
ms personal preference for the silver stand
ard, while admitting, as he did, in his speech
hat evening, that the Democratic party was
not unit on the subject and that Eastern
Democrats, like Eastern Republicans, were
mostly in favor Of gold, ma jority of both
PARTIES at the West and the South being on
he side of silver.
why the Matter Is to BE sheIved.
His motive in postponing the further agi-
alton OF the question until after the next
Presidential election was, he said, as he after |
yard repeated in his speech, to get rid of a |
llscordant element in the coming Presi- |
iental canvass, and also, what L don't find |
n ha 80 A.
zoters of the country fuller opportunity |
han they have yet had OF hearing every- |
hing that can be said in favor OF silver and |
lgalnSt it, The reports of the debates in |
he conference being printed in the daily /
'apers would, he said, be read by multitudes |
Who have never seen any OF the numerous
'amphlets which have been printed on the |
uD1ect, nor SO much as heard of the pro-
eedings Of former international confer
noes on the monetary standard.
MI springer furthermore expresses a
purpose to submit to the proposed confer
nee the subject of uniform international |
'elghts and measures, the adoption OF such
Dpllances for facilitating International !
ommeTce being, in his opinion in the line
4 the progress OF civilization and a stem !
Upward in human development
Altogether, think we may rest assured
hat there will be no free silver coinage bill
assed by Congress for the next two years. |
{ is true that We have had for some time |
resident liarrlsOn's promise TO veto such |
Dill II II were passed, but there remained |
ie possibility OF its being again passed over
IS veto, and that possibility is now
verted. |
An Acknowledgment of Interest.
The acknowledgment, too, by so fnf1uen-
ri Western Democrat as Senator Carlisle,
nat the United States alone cannot under
Ike to rehabilitate silver, is significant. No
ne who has watched the expressions of
Hcial opinions Of the European States can
r moment believe that they will in our
" at least adopt the double metallic
andard- Great Britain, certainly, will not;
rance and her associates in the Latin
mon, which have suspended the Coinage
silver for more than l2 years. show no dis
.sifinn. o 1asnrnn il and A 1, st,.ia uhinh hac |