Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-02-03
MIR. BLAND'S REPORT.
4 Majority of the House Committee
Favor Silver seigniOraEe Coinage.


Favor silver seigniOrage Coinage.
The silver question again presented itseli
TO the House today. when Representative
Bland. chairman of the House committee
on coinage weights and measures, made a
favorable report on his bill to coin the sill
yer sefgniorage in the treasury At the
Same time Mr.. Charles W. Stone OF Penn
syivania presented an adverse report from
the minority Of the committee.
MI. BANDS proposition Is advanced with
Q view to supplying the treasury with s5s,-
VU.OOO of silver or silver certificates to meet
current expenses. 1t was originally intended
that the coinage Of this amount Of silver
seisniorage would prevent Secretary Car
Isle from issuing bonds.
Tne reports are voluminous and dea
with the silver question broadly as well as
TO Its relation to seigniorage and bonds
Mr.. Bland states IN his report that the
seisniorage amounts to SIS. 156, s61, accord.
ing TO Secretary Carlisle's last report. The
Dill proposes to make this Immediately
available The bullion may be coined al
the rate OF eight or ten million dollars a
Gates would probably not be NECESSARY
though provided in the bill to meet a pos.
sible emergency.
The report adds: The fact that the Sec
L
thority to issue s2OO.OOO,OOO of short-ttme
oonos and Tor authority to use at his dis
cretion the proceeds for the payment OF
sns current expenses OF the government is
OF the bill. thus utilizing the assets now IN
tne treasury instead of increas sing the
burden by further bonded debt"
Inc report says that the proposed coin.
ege VIII be SUFFICIENT to tide over any cyl
eency until next December, by which ti,no
congress will be able to estimate WITH
teater precision the effect OF recent fiscal
LEGISLATION. A dispatch from Director OF
possible monthly coinage of silver is "a :
coo,Zoo. but Mr.. Bland suggests the extra
hours TO get out the requisite coin.
M: stone, In the minority report points
and that there is no seignioraee in exist.
ence- Until the coinage Is actually &C.
compished there can be no seigniorsee
on the bullion. and hence the bill seeks n
WIN something which does not exist
No Juggling INDUCED In.
FURTHER the report says: The credit of
the nation ought never be traded upon
except In case Of necessity, and then il
should be done boldly and frankly with no
!usshng or sleight Of hand devices to mis-
lead the people II such necessity exists
To-Day let 1t be frankly stated and fairly
demonstrated and not hidden behind man.
ufactured definitions and false methods
tending to mislead the people
II may properly be noted that this hill,
goes not In any way enlarge the market
Tor silver. nor benefit the silver owners
nor contemplate the use of any more sill.
yer as money than is already represented
~ our currency. Ii simply provides for the
watering, IL we may use a term which
mas obtained recognized and definite
meaning In financial nomenclature Of $50
ooo.Oo or the paper now circulating and rep
IesenthS silver bullion in the treasury,
and this. too when the amount OF this out
Standing paper already exceeds the real
value OF the bullion which IL represents by
over $J6.0OO.OOO