New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-24
NOT IN FAVOR OF AMALGAM COINS.

Baltimore July 23.-WIllard q. Day. OF this city,
who gives much OF his time TO the study OF economic
questions recently addressed letter TO Senator J0hn
sherman, OF Ohio making a suggestion regarding the
issue OF coins composed of alleged silver ana gold
He says:
Let the silver and gold now In the Treasury be
coined into mixed electrum dollars. composed Of
90 cents worth OF SILVER bullion and 40 cents worth
II gold bullion. BY purchasing 1O0,0Oo.OcO more
OF silver at cost OF say S'o.Ooo,oJo the
Treasury would have bullion enough to coin $500
100000 OF standard eectrum dollars worth 100 cents
each all over the world. The deprecated silver
dollars. could be called in and replaced by the new
dollar Of full value
senator shermans letter In answer TO Mr. Day 5
follows:
Mansfield Ohio July o. 1893.
Yours OF the 10Th Is received. The experiment OF max
Ing called the go!oId CON- consisting purity OF silver
and partly gold thoroughly tried when was Secre
tsry Treasury but IL found that this coin could
be distinguished from the silver COIN The quantity
Of god in the trfDg that IL did change
the color silver enable any without
distinguish the so.od coin from the silver coin TO
avoid this difficulty proposed 10 insert the gold por
ton this not satisfactory as IL would
be very small like a dot OIL the silver coin.
No doubt it desirable to USE both gold and silver for
coinage to the utmost extent will
of them Even ratio should be adopted. unless II
the chief European Powers 1t will not
ure,ent nuctuaton value OF gold and silver
Now that the choice be made have doubt the
subject will be given the careful attention and may
be solved. Very truly yours, JOHN SHERMAN.
THE SOUTH'S DEBr TO THE SILVER SENATORS.
Washington July .3.-Congressmcn who were most
interested IN defeating the passage OF the Federal
Elections BILL II is reported, may aid their Western
colleagues In opposing the unconditional repeal of the
sherman silver bill This state Of Affairs Is repre-
scnted to been brought about by correspondence
between Western silver senators and many southern
senators. The Republican Senators from tho West
who helped defeat The Elections bill AR now the
most interested in continuing the use OF silver as
money A southern senator said to-day that he
felt very much like going TO the aid of his fellow
Senators in the West the principle that one good
turn deserves another. by 80 doing lie added that
he could repay an obligation that both he and his
people felt was due 70 those VINO AIDED To defeat
tho !" cursed Force BILL
GENERAL WARNER FULL OF CONFIDENCE
Chicago July a3.-Generai A. q. Warner. OF Ohio.
the active spirit in the bimetalllc convention which
will meet IN Chicago August !, IS at the Grand
Pacific Hotel in conference with local silver
the arrangements OF the convention. General War
her said
4Tbe battle OF blmetallism has been fought In The
forum OF the world argument Is passed; what Is
needed Is decided action. We expect large con-
vention There will be many earnest men present
men who understand the subject thoroughly. Tile
country is aroused as II never before. sense
Of alarm Is manifest all the country at the pos
abilities of the establishment Of single gold stand
ard. The present financial condition Is largely arii-
fetal and amounts almost public crime. The gold
men should be held responsible for II. lie is fool
who Is made 10 believe that the present money
strfngency IS due 90 the Increase Of S4,OOO,OOO
monthly under the sherman purchase law"
Speaking OF the much mooted question OF the re-
peal Of this law, he said: II will not be repealed
without satisfactory substitute"
London. July 2J.-Thc conviction that gold will be
in heavy demand during the autumn months. cspe-
cialy for the United States has stlencd discounts In
the last week. and the rate has remained steady at
liz per cent for three months. Money has been
plentiful. and 1t has been difficult find borrowers
ut l.. OF per cent. Early In the week silver was In
GOOD demand In several quarters, ana inquiries wer.