The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-02-08

The United States Senate On Monday by
decisivs vote refused TO take up the bill
to repeal the silver purchase act of July
1850. This turns the silver problem over
to the next congress for settlement There
is no doub. THAI President Cleveland will
cast the whole weigh. OF his personal in
fuencs and that OF his administration to
enact . Suspension Of silver purchases. II
IL true that the Democratic party is pledged
TO repeal the silver purchase act by their
platform. bat it IL also true that the ma
jority OF the party represented by the West
and South mean TO replace the Sherman
oct OF July. 1880. either with free coinage of
silver or with the Bland silver act OF 1873.
The amendment offered by Democratic
Senator yest 10 the bill repeating the ell
yer purchase act Of 1880 is substantially
the Blsnd-Aliison act of 1873.
Mr.. Cleveland Is an obstinate man. hut
he will never get majority OF his party
TO vote for suspension of the silver pur-
chase act of 1880 except 10 replace it with
free coinage or the Biand-Allison act Of
1873. If he makes an unrelentlng fight On
this measure he will surely split the Dem
ocratic party. The silver mining states
say that the price Of silver Is now so low
as to materially reduce the number OF
mines which can be worked with profit,
and that every fall stilI further red lces
the number. The governments monthly
purchases under the Sherman act are
fall TO much lower prices for sill
yer. The mine owners therefore will
fight the repeal Of the Sherman Law
To the death. OF course they may be
obliged TO compromise by replacing the
Sherman act OF 1880 with the Bland act of
1873, but there is not the slightest present
probability that President Cleveland Will
be able To persuade the next congress. 10
suspend the purchase OF silver.
The present senate has clear silver
majority. and the senate which will as
semble March next will be stronger for
silver probably by at least a senator from
Wyoming. The refusal OF many Repub-
licaus in the senate 10 take up the
bill for the repeal OF the Sherman
silver purchase act OF $50 was due
10 the fact that they ielt GER
bv a worse measure. the Bland-AlIison act
Of 1875. This Bland law of 1878 was prac-
ticaly repealed by the Republican con-
gress when the law Of July II, 1890, was
enacted substituting an honest silver dol
lar for dishonest dollar. Under the
Biaad law o silver dollar" containing
zl2h grains silver nine-tenths fne-or
s7IL grains of pure silver, worth about "a
cents or e5 cents in the market-was coined
Of orr minis.
Under the silver purchase act Of $3.50
a new silver dollar was provided in the
form Of treasury note. which represents
At the time Of its Issue 100 cents worth of
silver bullion purchased in the open mar
ket. Under the Bland law the secretary
of The treasury WAS obliged % buy at ,east
5000. goo worth of silver bullion. and IL per-
mlt,ed him 10 buy 81. 000, 600 annually, and
directed HIM II coin this bullion pur-
chased into 4l2js-grain dollars. Re-enact
this Bland law and at least s2f, coo ooO
worth Of silver bullion would be purchased
and coined into eS-cent dollars" an an
nua, ou;put of n least 81. oco. 600 OF light
weight dollars. Under the Law OF lSsU, 8;
the present. price OF silver bullion. theTe
is an annual issue Of about s4S, COo,Uo Of
silver treasury notes, every DO ~ oil
which at the time OF It's issue represents q
gold dollars worth Of silver bullion. The
lower the price of silver bullion went the
greater would be the number OF "dosisfs