New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-21
WHAT TIE VEST BILL WOULD COST
SECRETARY CARLISLE GIVES SOME fI'rFt
FOR MR. VOORHEES, To rNE

FOR MR. VOORHEES, To UsE.
Washington. Aug. 2o.-In an ar'ici" headed 'nr
Present situation which 9TH" Washington f">'
makes the most prominent featur" In TO-DAY : ISSUE
II say: 1.-THE free coinage Of silver nj r"""
q, 90 70 or At any increased ratio IS practically
impossible
This T. the trump card which senator voorhees,
is 10 MAY In the senate on Tuesday. II j, behind
,his barrier that he 4, 10 inircnch himself Ink is
10 be his explanation for abandoning ia" 'onNl''"h'
Of n lifetime: this Is 10 be- his answer T." iho," VINO
will quote against him his memorable spr"ch>N III
the past. This trump card has been plHc'h III
senator Voorhees, hands ~ the Administration.
Secretary Carlisle who. dcSpt" all assertions u" TIE
contrary Aoynl 10 the President 10 I'll" last degree
FIRST gave " senator VOORHEES, verbally %" data
TO make this assertion tbat free coinage j. lmprac
,Icable lie has gone further than thu. and has pre-
pared an clabcritc letter which ia" senator VIII
read In the senate on Tuc-day. In thl, letter IA"
statement Is made that It viii cost tn country b'
tween slIa 900 and $4,000 900 10 carry ont
ihc provisions Of senator Vests frce.colnl-c iii.
II Is true that there Is nothing f. senator vests
LII about reconagc. But It doe, not need Il
prophets vision - know that dollars below par,
which only the Government Is compelled 10 take
will drift with alarming rapidly into The Treasury
I'm payment Of custom dues and taxes, and there
will remain, adding t. the cong ,iln Of III" cur
rricv Unless they can be- rrcolnc1 they Will b.
Al an increased ratio some OF the silver nnanccr'
I'm the senate NUT provide the secretary Of the
Treasury with over sIOoo 100000 10 execute the
law.
Altogether r. would seem II the silver men
were involved In situation from which II viii b,
dincut for them to extrlcaic Themselves.
Tile letter OF secretary Carlisle referred 10 III TIE
foregoing T. follows:
Sir: Referring to our conversation relative to tn"
10
conlng ratio gold and silver u - - FOR the
standard ,ivcr dollar. and TO i91 FOR snbs diary silver
IL a ratio Of 10 90 you are respectfully Informed mat
to number Of syer dollar coined oncc 1873 Aggregate,
40 1892 $50 without any allowance for abrasion and
loss incident to melting the Ia" coinnc value Of
these dollars at a OF 20. would D. 1893 DO, j.
or sS4 | 10 2ss lees than their present face value
To rrcon thee dollars ut ratio OF t, 20 would re-.
aulrc the addition OF 81 700 Of bullon
which, the AVERAGE price paid for silver under the
act Of July H. 1890 Ct003, would cOu S1j,s-3 700.
In addition 70 this estimate that there would 10 a
los from abrseol and In the melting OF these dollars Of
At least az 900 900. which amount together VITA the
difference In the face value Of the coins go 81
would have to reimbursed 10 tac Treasury by an a
pi0pr alton for TINT purpo'c.
From the feet dat the silver dollars dI,tbotcd
throughout the county II would be necessary a. thc'
a redeemed the several SubI"asurieS to transport
hom TO the mlns. And the expense Of transportation
for $500 coo 600. the amount Of the stock on hama AT
oie Sub.Trasurles and minis Vt Philadelphia. san Fran
cisco and New orleans, would average at least ls Der
cent or si5O0.o0O
therefore estimate the cost Of rccoinng the silver
dollars already coined follows: New bullion - b.
added s75 1873 700; los by abrasion and melting. 5000
ooO Of coinage dabor materials. e'. sG.2?0ofo;
coppr for alloy scs 200 transportation OF dolla's TO
mints 81 500 coo total $50 7iI90o The Of sui.
sldlary silver coin In the country T. cstim,"d AZ
az 900 600 which at full weight would contain 5jo9o
S7J ounces of fine silver. This amount ~ ia:o ~
1 20 would coin s55 ,si3,so2 or l@7 c"-
than the present face value 10 rccoin s,7OOO,OO of
subsidiary silver into equal amount Of frirtlonal
coin a ratio Of 20 would require the addition Of
707 G25 fine which, at 49,, scents per I'm"
ounce the price pail for silver under TIE act
OF July II. 1892 would cost SLIPS. 49,.
There would be loss Of about - per hy abrasion
from the value about si?.5OoO would therefore
estimate the cconIng the subsidiary .ver In tie
country at a ratio Of TO 20 foows: New bullion.
Al 7s5 loss By abrasion ~ 02j 600 cost 0f coinage
500 coo copper for slloy sljOg OF ran>porta
ton ~ ,I55. 600; total s23 I24 .t2i.
Reorganization Estimated cost Of rccoInng silver dol
lars al 300 timsted Of rrcoinng subsidiary
silver s23 1924, iol total, ~ II 1896 3e1.