The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1893-09-14
THE WILSON BILL.
It. Louis Globe-Democrat.

st. Louis Globe Democrat.
There seems to be more or less mis-
conception of the purport and tend
ency of the Wilson bill in its general
relation to our currency system. 1t
does not involve the decentralization
of silver, as is being suggested In
certain quarters; nor does 1t revive any
previous Legislation upon the subject.
The effect of its passage-and the
same is to be said of the Voorhees,
bill-will Do to stop the purchase of
A ,500, 900 ounces of silver per month
aud the issuance of treasury notes
therefor. In all other respects it
leaves the silver question just
where 1t was before. The amount of
silver coin and certificates in circula-
ton will not be diminished, nor the
quality of the same In any way i'm
paired. There will be no more pur-
chasing of silver by the government
for coinage without further legisla-
tion--that is all. The present volume
of such currency baoked by the pledge
of the national faith to maintain 1t at
parity with gold, will Iemain in the
channels of trade, without any faint
of Legislative discredit, or any danger
of depreciation In purchasing power.
But there will be no law left In force
for increasing this kind of money IL
Ii shall be deemed wise at any time to
coin more of 1t, congress will have tn
make provision to that effect; but in
the absence of new law for that pur-
pose, there will be no addition to the
existing amount of silver currency.
The repeal of the sherman law does
not imply any intention or disposition
to eliminate silver from our currency
system. There is general wish, as
there has always been, to retain IL as
q permanent part of the circulating
medium; and whenever the amount
can be safely and expediently In
creased the people will not object to
further coinage. The trout BILE Just now
is that the limit has been reached In
the power Of the country to absorb
and utilize the white metal for mone-
tary purposes. 1t Is question not of
partiality of one metal over the other,
but of securing the largest use of both
without subordinating either to the
other; and the only way to insure this
result is to regulate the relative guam
tity of each In accordance with
well established financial laws
and presidents. The stua.
tion may not long remain as 1t is.
There is strong probability that
within few years at furthest the con-
ditlons will change in such way as to
justify new silver coinage law; but
IL Is the business OF craftsmanship to
deal with current facts and to shape
public policies for present uses. 1t is
to the interest of all sections and
classes to have o currency OF uniform
value, with every dollar passing at
par for all purposes That is the ad-
vantage which the stoppage of silver
purchases is designed to conserve and
promote. We have as much silver as
we can profitably and prudently en-
ploy, and the proposition is simply to
discontinue its coinage until such time
as we shall have room for OF it in our
commercial and industrial operations.
Such is the meaning and the object OF
the Wilson bill. practically speaking,
and no one need be in doubt for
moment as to the effects that will fol.
low its passage.