The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-07-04

The Presidents proclamation calling
courrrss together on Aug has heou 'a'.
lowed ut "a prrrepiihC Improvement m
tho financial situation Do is castor for
. borrowers 10 get money aud business cn-
+ terpriscs are undertaken more frroir be-
. cause there is greater confidence shat
. thcy can be- conducted successfully.
. There is very little doubt that $50 much
T Of The silycrplr. act as requires tho
/ government 10 purchase silver will b. re-
pea-Cd very soon after congress-
meets. Only the extreme silycri;cs
say this will not bc dolc,
and il is plain that they do not speak
their convictions. They are trying 90
stem the current Of public sentiment
that is now running strongly aqaiust sill
yer, hoping that they can muster suif
Gent opposition to repeating the at 10
bring about compromise that will oe
something of a concession 10 their views
In our dispatches yesterday, ex-senator
John B. Henderson, of Missouri. is quoted
as favoring the selling as bullion of at
least one-haf the silver dollars that have
been coined under the acts of
1878 and $780, and of minting
the remainder into subsidiary coin which
shall be legal tender for not more than
$40. This would seem to be an extreme
measure. If the silver dollars already
coined should remain a part of the cur
rency, there is no doubt they would CON
tinue to circulate at their face value.
The credit of the government is sufficient
to take care of them The ilver-purchase
act causes financial trouble, not so much
because of the amount of silver currency
already issued under its authority as by
the amount that may be issued, if the
monthlypurchCses of silver and theissuing
Of silver certificates are continued. What
caused uneasiness when the Greenback
craze had possession of the country was
not the amount of greenbacks already is
sued, but the amount that might be is
sued. If the greenback advocates had
been permitted to have their way, they
would have had Rreenbacks issued be-
yond the power of the government to re-
deem them. It was the fear of this that
caused the agitation that put a stop to
the greenback issues, and it is the fear
that the government cannot keep much
more silver money on a parity with silver
that is destroying credit and strengthen
ing the demand for the repeal of the sill
ver-purchase act.
The question whether there will not be
a contraction of the currency that will be
hurtful to business. interests if the issuing
of silver certificates is stopped is being
discussed. There is plenty of money in
the country more, in fact, in proportion to
the population than ever before. If CON
tdence in the government to keep all
its currency at par is restored, the vast
amounts of money that are now locked up
in safety boxes and vaults will be put
into circulation. There will not be a
dearth of money, and, besides, congress
will make provision for such an increase
in the currency as will be ample for the
needs of the country. There is no good
ground for fear that the supply of cur
rency will not be fully equal to the de-
mand, even if the silver-purchase act
should be repealed without any provision
being made for free silver coinage