The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1892-07-05
THE SILVER BILL.
Opinions of Senators and Rep
resentatives.
The Bill Discussed Pro and Con-HartsF Of
Ohio Says Il Is BungIInE
Measure

NEW YORK, July 4.-The Times Washing
ton special says: Some free silver men
are beginning to wonder whether the free
coinage measure which the Senate passed
Friday would really accomplish what they
have been aiming to bring about Il it
should become law. Apparently very
few of them knew previous to Friday that
Senator Stewart proposed to offer sub
stitute for his original measure, and most
of them seem to have been ignorant OF the
provisions OF the new bill. Now that the
bill is in cold type, the impression is grow
ing that should it finally become law, the
free silver men would soon realizs that
they had been led into a ridiculous position.
examining it, SAID il note 10 the cores
pendent Of The Times, that he believed a
serious mistake mad been made.
THE BILL" he said, provides that the
uncoined bullion in the treasury must be
coined Taking the amount on hand and
the capacity Of the mlnts into c0nsidera-
ton, figure that over three years would
elapse before any bullion, not yet delivered
would be handled by the government
The man who drew up the substitute
which was accepted evidently did not
think Of this"
Representative Harter Of Ohio says it is
the most bungling measure which ever
passed. a legislative body "Should 1t be-
come law said he '.Lhe most ardent free
silver men would soon begin to uDbrsid its
trainers. First, It provides for the stop
page OF more purchases of silver, and also
stops the issue of silver certificates. This
ENDS the accumulation Of silver more and
more, and puts a period to the vicious in
crease OF silver certificates. Observe 1t
absolutely closes the market for silver bull
lion. and is likely to cause the price 10
drop way below S. cents per ounce. So far
you see, free silver people have, IN their
ZEAL killed the goose which laid the golden
Tor silver egg, and If the bill should ever
become a law, the curses from mining
camps would be loud a1d deep. Go step
further and notice that the bill orders the
uucOined bullion in the treasury &c
be coined. This viii cost say
S1,690,OOO, which is, so to speak, thrown
away, but will occupy minis on govern
ment coinage probably not far from two
years Meanwhile our free silver friends
can keep their silver cool ana their feet on
the sidewalks. Suppose you had S100,OOe
in silver bullion and proposed to get the
benefits of this BILL YOU would take 1t 70
the mint, but as the mint has not storage,
it would be wholly impossible (though le-
gally and in a Pickwickian sense, possiblel
1or tue ROVeEnu6ub " saho ~ II O1hSH
words it may be two years before the gov
eminent could take your bullion. 1t may
be five years. "But suppose the govern
ment does take it; will you be kind enough
to tell me when you would get your silver
dollars in returns Here is q nice sum IN
arithmetic for the silver men and after
they have figured it out they can go and
buy OK teams and be ready to transport
their coin. l am satisfied l have said
enough to cause any man TO see that the
whole bill is a delusion and snare"