The Durham daily globe. (Durham, N.C.) 1889-1894, 1893-08-18

lean traffic, any more than foreign yes
sells are allowed to engage in the domestic
coasting trade, whether they comply
with the interstate commerce act or not
Representative Hit takes the view
that as American roads are placed at a
disadvantage by the interstate commerce
act compensating restrictions should be
imposed On their rivals. He proposes a
a license to do business in the United
States, to be granted the Canadian rail.
ways, subject to revocation for violation
of the terms of the license and involving
the condition that the officers of the
foreign roads shall at all times appear
before the interstate commerce commits
sion with their books and papers in ODE
dience to the orders of the commission.
Undoubtedly there will have TO be some
modification of the highly advantageous
privileges which the Canadian roads en-
joy from this government, but any at
tempt to entirely cut off this competi-
position from New England and the
northwest.
One feature of the silver situation
which affords some encouragement to
the repealers is the fact that some of the
moderate silver men are now talking of
compromises which stop a good deal
short of the Sherman law in their effects.
Two Of these propositions are the coin
age Of the silver bullion in the treasury
as fast as the minis can carry it on and
the limitation of purchases to 1 900, 900,
900 ounces or 81 600, 900 worth per month.
Probably either Of these propositions
would be accepted by the repealers and
by Mr. Cleveland if they were convinced
they could do no better.
The Sherman notes have been treated
substantially as gold notes secured by the
gold reserve. This makes it useless to
hold the silver bullion as security and
makes it a dead asset on the hands of
the government until it is coined.
1t has been stated at the treasury de
partment that it would take about five
years to complete the coinage at the rate
of $4,000, 900 per year. This would be a
considerable infusion of new silver into
the circulation, but some Of the gold men
admit that the real danger of the She%
man law would be removed if a definite
limit were put to further purchases of
bullion.
The proposition to purchase 600, 900
ounces of silver per month would, if
adopted, do no serious injury, in the
opinion of the gold men, to our currency
system. 1t would cost at the present
price Of silver about $4,000 per month,
or Sc, 600, COO per year, which would be
insignificant.
The purchase Of 81 ,000,O 600 worth of
bullion would mean more, and if it were
coined at the present price of silver
would add nearly $50, 0O0, 900 to the vol
ume Of silver in circulation. Either of
these propositions would not be danger
Gus, it is thought, if they were not put in
force until after the present accumula
ton of silver was disposed Of.
The rapid growth of the country and
the demand for silver for small change
might absorb this amount, while the
larger obligations of the government
rested upon a firm basis of gold Neither
Of these plans has yet been presented to
the repealers, and neither can be voted
on[in the house under the pending special
order. Ii is possible that one Of them
may be tried in the senate if the silver
men ann secure more.