New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-12-04
Mr.. BLAND ON SILVER.
HE THINKS THE CONFERENCE WILL
AMOUNT TO NOTHING.
THE REPEAL OF THE SHERMAN LAW WANTED
IF SOMETHING BETTER FOR SILVER

CAN BE GOT
| Washington. Dec. 3.-Rcpresentative bland OK MIS-
scuri chairman OF the House Coinage Committee ana
the champion Of free coinage OF silver was hsAei o.,
an Associated Press reporter what he thouEht "o"-
h. the effect Of the failure OF the international Monetary
Conference TO agree anything. He lephen
II don't see that 1t would have any erect ono
way or the other. / never regarded 1t as amounting
10 ANYTHING more than makeshft to toe over
| and perhaps help n movement 10 demoneu'c silver
always regarded it as having those objects IN vie"
moro than any real expectation OF doing GOOD 10 SIVr'
don,t think the public generally expect much OF It,
| ado you expect anything from the conicrencei
al do not and (dersively) / never nave
asnppose that the conference should fall and that
proposition should then be nlahc 10 repca' 'io "
| law what then"
THAT will be proposed anyway, presume am
IN favor Of repeating 1t. II We can get anything better
| ,or oliver I don't like the sherman law myself
At the time II proposed stated on inc h'or Vi
| the House and in my report that II would not IN
| crease he value Of silver or tend I" promote us
restoration as money; that 1t would be failure III
that ,cspect. Yet you might say 1t Is connecting
INK between total reconciliation and something
better Hence, think 1t would be bad pohcy 10
n unless We can something else at the same
time Our bill and the stewart bill repealed the
Sherman law, but substituted free coinage
ADO you think there Is any prospect OF silver leg
isation''
~ would not like to express nv opinion on that.
because ! do not know how members feel. From the
wav they voted last there Is not much prospect
OF It,
Aside from free coinage, what plan can you sug-
gest that would improve the financial situation -
81 would 90 TO work and coin all the bullion which
has been purchased. That would be great rciiei
because II would show that were determined TO
mako money of silver the same gold nj fixed ratio.
| 10, which deficiency In the
Treasury could be met. All the bullion We have IN
the Treasury under the present policy might Just as
well be dumped in the Potomac far as making
money OF IL Is concerned. 1t IS treated n COM
modify and, treated by the Treasury now. 1t Is 50
much dead capital. We have purchased since the
sherman law went into effect nearly l23.OO0OoO
ounces of silver which would coin about slG2,o0O,
900. Rating the purchases nj an average price Of 80
cents an ounce, would gain approximately $50
600, 900 on coming the bullion, which would bridge
over any difficulty arising from the deficiency In the
Treasury the coming fiscal year, that We need not
Issue bonds nor take any other steps than coming that
bullion TO provide ourselves with necdful funds"
Don't you think the proposition 10 make silver
legal tender mp to five pounds shows more liberal
disposition toward silver the part OF Great Britain -
That would make II "a subsidiary currency a
mere token. Any prop osifion tint does nO mako II
full Legal tender Is not making mOpcy OF II. What
Great britain wants is TO drive the United states 70
Gemonetzc silver TO make 1t simply subsidiary cur
rency What we should do Is TO drive Great Britain
10 the u-e OF silver money. And we could d. H.
We would only have 10 make money Of silver and
Great Britain would have to act with us for it has
many interests not TO do it. RothSchih has
stated that Great Britain could not AFFORD - do
ANYTHING frat would hurt us. Austria, Russia. and
other nations are buying god. Suppose should go
into the narhct after gold. Yes. II has been talked
about: II has been said slrould sell bonds or
should issue legal fender n)tcs. and provide
basis for them by buying gold. II we went into
the market would beat them. The price Of gold
would keep rising; there would be scramble for It,
and then a crash when the people would 10
realize what this sole gold basis means