New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-07-06
AFRAID OF THE SILVER BILL.
PRICES GO DOWN on The STOCK EXCHANGE.
EFFECT OF TIE ACTON OF TIE sENATE-vIEws
OF HENRY CLTWs.

EFFECT OF TIE ACTON OF TIE sENATE-vIEws
OF HENRY CLTws.
Tho action Of the Democratic senators in Congress
In passing the Free silver Coinage BIZ received nm
qualified condemnation In Wall street YESTERDAY. The
Stock Exchange had adjourned or Friday before the
bill had passed the senate and Yesterday was the hN'
business day after the news was received Inc enec'
OF the unexpected revival Of tie silver agitation was
to causc materially lower prices. BANKING HOUSES
with foreign connections sold stocks freely 81 :he open
ing and the bear faction renewed aggression IN at
lacking values The first hours business was con
adorable but less activity Shown later IN the
day. Prices steadily declined. however. and ~ the
close net losses from Friday OF to per cent were
scored
There also was a furry in the. call loan market
rates rising 20 8 per cent and once touching per
cent Part of the furry was traced to the shifting
Of loans that IL sasonablo to the July disbursements
of dividends and interests. Some of the trust com
panies 1t reported had called loans heavily si''
this thought u be precautionary ~ was az
said on good authority that aueut S2Joooo goa H"u
been shipped &c Montreal
There were engagements OF gold however, '''
shipment to Europe and this wes regarded As ieaN>"
ing Bankers thought that there would he 10 a'u'"
scare over the silver question. they rely upon 'He
Of the silver measure should IL ever 'e''" ~"
Presidents hands II Is not generally uef>o" ''"''
the senate bill Will pass the House OF Keric>f""'N'''
lilo strength or the hOneStlh0ucS NTH !" '"' D'''
It is hoped will dcfea, the bill and the h'eneN % e
session OF Congress with the possible need OF ahlcn
ING the bill in any case, will help TO onDari''S iN
prugesS. Tie Sena;e's action was denounced oH al
ex-prcsiient Of the stock Exchange as an l'Nu' ~
the Nations which have been Invited 10 TAKE part III
the international Monetary Conference lhc 'o'o
OF the Democratic Senator's from the Eastern states
received condemnation Is violation OF 'ho "iS''' '
opinions o. Their constituents
Few OF the New.York bankers have opposed INC
Free Silver LII more vigorously IMAM h"> "."''
C1ews lie Is extremely indignant at the acton Oh '"e
Senate in passing that measure and SpeaN> ""'
against those who voted for the bill in the strongest
farms lie said yesterday 10 Tribune reporter
am ac,tost the increase Of tensions In connection
with the war; as that affair has Ions since passed INTO
ancient history, and the amount Of pensions no" p'u
IA la 90 enough for the good Of the Nation DIV s'r"tN
favor nang O pension bill at once amply 70 p'o'iue lo
all members OF Congress who have FcccntN eN'nx"'a
themselves In Professionally voting fot the bI" silver eu
AntlOpon bills such pensions to poNGc OIL course io'
the permanent retirement 0. all such member. rom active
service I'm state s,ranship The sharp p"ucc uSfu !"
pas,,na the Fnee siver bill Ia the Senate, AAinl "l,
vantage OF the absence Vice'rresident Morton. uu
many others who had gone home foT the fVuh OK IN,
wa. diabolical As the passage OK tae f'hNef u"
NV the seoa, has caused paralysis m all the eNehseN
here great many members are now ANXIOUS 10 INV
the cholera attack Washington as to drive inc members
Of Congress home aud bring about an sdtcrrinen',
Ths country IS great factor IN tlc wolp o0'S
,crco 70 he permanently injured by such ui'e Iossa
toa as now attempted such the Free SILVER s'u ".
Otion measures; srl while these ridiculous s1temp'N |"
moke such laws in Congress are oVefhahg'"s' w" o
,co,n ~ the county stand aghast awaiting hhni resu
Tb,s meanwhile entails immense losses to all VINO are
connected with business One.rs on an impor""v sur
couse they are necessarily inundated rvm entering o
,,ns,cons Of MAGNITUDE Consequently general stgna-
Zion hos invaded almost all undertakings. If Congress
would now speedily adjourn. the President ought 10 "
,nyokod IN issue a proclamation for National hohu@y
10 celebrate the event and word fr IT, II womb u"
celebrated 80 az 10 put shame any eo'S OF th'' N
actor such o. thus far have any reNoiu +" U" ""'
Fourth OF July in the Nations history
Tho SILVER bill % passed by the Senate represents d"
od me.suo, introduced ond put on the ca'endaf ohs
time AGO Since It's Introduction. however 'p Dcin'
,c chicago convention BY silver plank superseded
the views advocated by that measure. Inc SAM" VS. VS.
d,no ny the Republican Minneapolis convention. Ils
consequently takes free Of politics In the pres
cnt Presidential campaign, Us tho paoorns oil Oo"' pa we
on. not adyocates Of IT, but che contrary aie pro
na,ced o-ajnst IT, and Presidential cahuiuo" 'o
aa,a ac,inst such legislation. There can, tser1oie' !"
m, fear Of Fee Silver bill becoming Jaw ec'l""' VI"
Ell a,cr 1907 four wears and eight months hence hce'
to. the fact that the Senate has just passed such o
which cannot possibly become law ui'o'r INV s
stances should not BE- particularly disturbing =, .,.
an hu.ness circles still there Disgusting the fsc' ue'
~ moral Influence fail TO be more or less hu..
Tho effort TO pass the Free Silver and AntopVi'h o
~. r,cs.,, Time represents exceedingly unwse political
action in Congress as they are both rnsouhd a"u ui'
tr,h,nc measures While neither OF them is az all ikeH
70 become laws Nation, stu. the persistent 7"ss'
in Their behalf rcprcs,sts reckless disposition 0" "e
p,,t Of large number Of the caosen representatives III
ro,p,c,s and which apieal favorubiy to Foreign
Nations which is danger at this enc 10 such
selfish attempts at Rational law making