The herald., 1894-03-30
The TOOL or WALL STREET
Grover Does the Bidding of
the GOIdbugs.
He VetOes the SeigniOrage
Coinage Bill.
His Reasons Are Sophistical and
Unlawyerlike.
a Long aud Laborsd EpistIs in JustIn-
cation of His ActIou-A Fight
VIII Now Ba Made for
Free Coinage.

By the Associated Press.
WAsHINGEoN, March 29.-Representa-
tive Bland, author of the Bland silver
seigniorage bill, vetoed today, author
izes the following statement concerning
the veto anA its effect upon the future
of silver:
"The main point Of the veto is that
the president does not wish to introduce
in the currency any more silver until he
has more bonds and greater gold re-
serve. He insists on the fight that has
been in progress for the !ast year on the
one hand by those who wish to increase
the bonded debt in the interest of ma
tional banks by selling bonds for gold
and for money to pay the current ex-
penditures OF the government, and on
the other hand by the representatives
OF the people who are opposed to bond
issues and in favor of coming the silver
bullion-the assets we have on hand
and using this money in the payment of
current expenses. The first Sec
tion of the bill provides for
the coinage of the bullion held under
the Sherman act. That act provides
that the bullion shall be coined into
standard silver dollars. The Sherman
act is not repealed, and hence the presi-
dents observations that it is not clear
into what kinds of coins the bullion
shall be struck is not lawyer-like, as q
lawyer would know the bill is q mere
supplement to the Sherman act, and
leaves the bullion to be coined under
that act. No friend of the bill in the
house or senate has ever considered il
as wanting in certainty or requiring any
amendment. These criticisms OF the bill
itself were wholly unnecessary by the
president, when he gives congress to
understand that no bill could sibly
20 drawn compelling the coinage OF tine
siiver bullion which would meet his
approval.
"A president in sympathy with the
purposes OF the bill would have signed
it. College professors may criticise its
language, but man who sprung from
the people, like Abraham Lincoln, and
representing not the money power, but
the interests of the masses would have
signed the bill, although college profess
sors might have stigmatized him as =
rail splitter"
Concerning the future of the silver
movement, Mr.. Bland said:
ut is evident that under the single
gold standard nothing can be done on
the currency question without consult
ing the few people who own the gold OF
the world. These people have dictated
the veto OF this bill. The fight from
now on will be whether the people Of
this country shall control the currency
by permitting gold and silver to come
to the mints free, and thus supply
themselves with constitutional money,
or whether we are to be mere slaves OF
the owners of gold in Lombard street
and Wall street. The day is fast app
preaching when the peoples president
will sign free coinage bill. intend to
do everything in my power to present to
the president free coinage bill, and let
him exercise his rules of Lindley Mur-
ray on that"
Comments by silver men in the sem
ate and house make it evident that free
coinage bills will be introduced and at
tempts made to pass them as the result
of the seigniorage veto.
The Republicans profeas elation over
the presidents veto. Many Democrats
express dissatisfaction.