New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-06-02
aTTENPTED SILVER SETTLEMENTS

The air is full of settlements of the SILVER
o,os,ion Many have been sent to THE 1RlB-
,xp with earnest assurance that each Is eX-
ootlv tho desidcratum for which the whole
,o,ld is waiting. II is needless to say tha'
these have been examined with interest," II.
world is really waiting for some se'tlene'' Vi
the question which has disturbed all hhan'es
for years. II would be most gratifying 10 hhd'
even in the least expected quarter any sus
gestion pointing TO a practical solu'Ioh' DIV
c,raful search thus far has failed To DISCLOSE
ovon = germ of settlement among the multi
mdinous plans offered by advocates OF pi-
metallism.
Most of these plans involve the issue oi some
form of paper redeemablc in gold OF silver 1T
tho option of the holder, with more or less
restriction aS TO coinage. II does not seem ~
occur 70 these investigators that paper re-
deemable in gold or silver would be piacicali!
,odeem,ble in cold alone. until some dcVice
not vet propoSed brings silver into larger actual
nse ,s money. An optional paper the holder
having the choice, must always mean p'P.'
rodeomable in the scarcer metal-that Is. III
the metal for which the world mas al p'e>e"'
lo,st monetary use. All sorts OF conti1vanceS'
many of them peculiarly complicated anu III
oenioU.. are offered for restriction OF SILVER
coinage. But they all miss the mark because
coinage of silver is matter OF small cohSc
ouence in itself. If no paper were 70 be iSN"eu
rcdeenube in silver or for silver deposited
and having the debtpaying quality, 1t Is quite
| likely that free coinage of silver W0uld no'
hrinc any more silver into actual use IN this
country than is now in use. Bu, unless more
! silver car be brought into Use a money. ther'
| is little hope of attaining a change III IT. mar
ket value.
| If is also obvious enough that an issue OIL
n,ner. nominally against silver deposited or
! c,;nod but actually Iedeemable either by terms
! of l,v or from necessities Of the Government
in cold. would in no way add 10 the actual
mo Of silver as money. 1t might. indeed IN
crease the nnsold stock of silver stored III GOV
eminent vaults. there 10 be a constant mrnac"
70 the markets Of the whole world. vi I'M,
kind of remedy this country has had se'e'aI
wears trial under the Bland-AlliSon DILL ana
| some wears more under the silver fuichaSe
act. without the slightest benefit as respect
the market price Of silver. One other reIned!
s suggested by some-namely, to make silver
coin and PAPER redeemable in silver, lcgil
| tender for n somewhat large, amount. though
NOT for an unlimited amount But this again
| rests upon the false notion that the small bill>
| or weekly payments, in which legal tender
| fixed by law may be made available, are oil
Indefinite amounts. The fact is that such pay
| mou:s are limited by the am)un' 81 wages
earned and paid and by the amount OF pnr-
chase, consequently within the means o. the
great body of the people. No silver law VIII
materially change the weekly sums thus pay
able. nor can any law make ans other thar
the best money Of the civilized world volun-
,arilv accepted in larger settlements.
All these attempts fail TO help. because they
fail 70 provide a larger Use for silver aS money
One plan remains. which the President ana
his Democratic advisers are supposed to be
consdclng-namcly, to put more silver bnlIion
into every coined dollar Al a glance 1t may
he seen that this would only add to the weight
of silver used TO represent the same amount
in current weekly settlements. The country
now uscs about So o. 900, 900 in silver coin, and
bv putting more bullion into each dollar might
contriye to find sort Of Use for larger
weight of silver representing the same value
Reyon1 that it is difficult 10 see what good this
Plan would do Whether il would tend t.
make silver bullion advance or decline in price
i an open question, which Democratic philoSO
phcrs are at liberty 70 settle il they can.