New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-08-10
MR., CARLISLE ON SILVER
HE DOES NOT BELIEVE IN ANY 6s-CENT
DOLLAR
HOPEFUL THAT A SATISFACTORY RATIO CAN BE

HOPEFUL THAT SATISFACTORY RATIO CAN BE
FIXED BY THE COMING CONFERENCE.
Washington. Aug. Ex-senator Carlisle has addressed
letter TO John A. Lyme, OF Henderson, Ky In answer
to his question whether the Senator had heretofore
been in OF the free coinage Of silver and whether
his views the subject had undergone any change
He says "The answer to your question drpehcS
largely what you mean by the free coinage OF
silver II you the policy urged by many unner
which the Government OF the United States wOua NC
compelled by law 10 receive G8 cents worth OF SILVER
bullion when presented by the owner and coin II
at the expense OF all the people Of the country ana
compel the people by law TO receive the coin rs inc
equivalent of 100 cents. my answer is That am ho'
now and never have been in favor of IT. stand now
where my lamented predecessor. Mr. Beck ana stoou
together In 1873, when the sOcalled 'Bland'AlhSoh
bill' passed by Congress, under when the Secrc
tary OF the Treasury required TO purchase anu
coin monthly not less than $2.O0OOOO nor more u''i
$4,000, 900 worth Of silver bullion.
"When that bill passed the House OF Representa-
tives 1t provided for the fire.: and unlimited oohaso
Of the silver dollar but after It went TO the senate
Mr. Peck offered an amendment which provided thht
the Secretary OF the Treasury should purchase NJ inc
market prize. each month. not less than sJ,ooVoO"
worth OF silver bullion, much more us con"
be coined at the mint the senorage TO be paid in'o
the Treasury, and whenever the bullion cVniu ho' Nv
purchased at less than par with legal tender ho'es
any owner OF silver bullion might deposit it for co"ge
on the same terms gold was deposited
Senator Carlisle quotes at some length from Sp"eche
made by Senator Beck at the time OF the passage vi
the bill to the effect that he (Mr. Beck desired INA"
the people OF the United States should receive 'he
benefit OF the difference II any, between the actua
and the coined value Of the bullion AT the tlnle says
Senator Carlisle silver was only 10 per cent
below gold while it IS about A per cent below
and II it right and just 10 the people then 10
donate senoragc OF or 10 per cent TO the conDha
tons OF buonstsn it certainly cannot be right and
Just now TO donate four five times that much
Mr Carlisle then quotes from his speech in the House
In 1873 when the original Bland bill had been amended
By the Senate. Part of the quotation reads
my position upon this subject is briefly this:
an opposed to free coinage Of either gold or silver
but In favor of unlimited coinage of both metals upon
terms Of exact equality. No discrimination should be
made IN favor OF against the other, nor should
any discrimination be made in favor of the holders of
either gold silver bullion and against the great body
OF the people who other kinds of property" sen
ator Carlisle says: This paragraph shows precisely
what my position then and always has been upon
this subject / believe that gold and silver bullion
should be treated exactly alike In the mipts Of tho
United States-that is, dollars worth Of gold should
be coined into gold dollar and a dollars worth OF
silver should be coined into silver dollar, and If no
charge Is made for the coinage OF one then no charge
should be made for the coinage OF the other
The Senator quotes the silver plank OF the Demo
demands cannot be met unless the metal IN gold
and silver coins is OF equal value TO the coin while
In bullion form, for coinage In his view adds nothing
to the intrinsic value Of the metal He asserts that
ncither gold nor silver coin, excepting subsidiary
coins Will ever agan enter very generally into
use In any great commercial country, but they VIII
serve only q basis for the Issue OF the currency
Any measure that would broaden this basis wouh
benefit the world generally but this cannot be done
by the fabrication OF two Of the same denomina
tion but OF unequal intrinsic value. This has been
demonstrated by experience during the last four
teen years with silver legal tender and we are
which the basis OF circulation be broadcned BY
First, by the coinage Of the silver dollar
containing q dollars worth OF silver; secondly,
BY an international agreement on ratio. He admits
Alone make the present value OF silver bullion the
basis Of adjustment because the partial decentralization
of silver, by limiting this coinage has undoubtedly
had considerable influence in depreciatng its price
and approaching the price Of gold. Free coinage OF
silver would bring the values nearer and true ratio
for coinage would be found at some point between
10 to and the present relative prices OF silver ana
gold bullion. In conclusion. the Senator says he Will
support any measure that will fully remonetize silver
and insure equality Of the dollars coined from the
metals and he sincerely hopes that the approach
Ing conference will be able 20 reach such an agree
ment will meet the approval Of AL Governments
participating in II.
The Secretary Of State has sent 10 the United States
delegates 10 the International Monetary Conference
oftcial notification Of their appointment Senators
Allison and Jones held conference With the Secretary
to-day respecting the organization OF the commission.
but II was understood settlement was made