The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-03-30
President Cleveland vetoes the
Seigniorage Bill.
IT WOULD BRING BACK PANIC.
Besides. the Measure Is Full of Am.
biguities and Absurdities.
IL Would Ne . long Step Toward SILVER
Mono Mstall fsm-- De ccrats OF she
He1se. IsfariAsed by Republics Fn-
ibnstering. rrsmpie Cpoa the Rsies.


sentative Bland. author Of the Blaad sill
yer seigniorage dill vetoed today. author
lied the following statement concerning
the veto and ats effect npon the future Of
silver:
THE main point Of the veto / $ that the
president does not wish 10 indact into the
currency any more silver until he has
more bonds and greater gold reserve. He
insists on the tight that has been in pro-
gress for the las, year. on the one hand hy
those who wish TO increase the bonded
debt In the interest of national
banks by selling bonds for gold
and for money 10 pay the current
expenditures of the government. and on
the other hand by the representatives OF
the people. who are opposed to bond Is
sues and in favor of coming the silver
bullion, the assets We have on hand. and
using this money in the payment of cur
rent expenses. The first section of the
bail provides for the coinage OF the bullion
held under the Sherman act That act
provides thas the bullion STALL be coined
into standard dollars. The Sherman act
Is not repeated. and hence the
presidents observations that it,. is
not clear into what kind of
coins the bullion shall be struck
is not !awyer-tike, as lawyer
would know the bill is 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 a. wanting in certainty or
requiring any amendment These criti-
cisims of the bill itself were wholly an
necessary on the part of the president
when he gives congress TO understand that
no bill could possibly he drawn COMPEL
ing the coinage of the silver bullion
which would meet his approval.
president in sympathy with the pur-
pose OF the bill would have signed 1t.
A college professor may criticise Its
language, but man who Is sprung
from the people like Abraham Lincoln and
representing not the money power, but
the interest OF the masses, would have
signed the bill, although college profes-
ors might have stigmatizeti him as rail
splitter"
Concerning the future of the silver
movement. Mr.. Bland said:
''it is evident that under the single gold
standard nothing can be done on the cur
rency question without consulting the few
PEOPLE who own the gold of tue world.
These people have decided the veto OF this
bill. The tight from now on will be
whether the people of this country shall
control the currency by permitting gold
and silver TO come 20 the ussHse ffoe and
thus supply themselves with constitu-
VI
mere slaves OF the owners Of gold in Lom-
bard street and Walt street. The day 10
fast approaching when the peoples presi-
dent will sign coinage bill. / intend 10
do everything in my power to present 10
the president free coinage bin and let
him exercise his rules Of Lindley Murray
on that"
Representative Henderson. Dem, fol-
lowed the presentation Of the presidents
veto message by submitting a bill for the
coinage OF the silver seigniorage. The
text 10 the same as the Bland bill. omit
ting the second section and some of the
explanatory language OF the first section.
II directs the secretary Of the treasury TO
coin as fast as possible the silver seignior-
age into legal tender silver dollars. The
bill was referred to the coinage committee.
PORTLAND, March 29.--To an Associated
Press reporter Gov Pennoyer today said:
"The veto OF the Bland bill, which re-
stored silver as standard money, by .
president elected on q platform declaring
for 1t, is a most iagrant breach Of honor.
for which there is neither pailiation nor
excuse"