Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-12-13

WASHINGTON. D. c. December l.
.{sneciaD.-The silver situation throughout
the world is at present agitatins the IL
nanciers Of this country consldeTapis. IL
is believed that the conditions that nave
recently developed will have an lmpor-
tant bearing on the coinage laws OF thls
country, as we'll as those for the Phll'p-
pines The House, at the last SESSION.
passed the Hill bill. but the Republican
leaders of the Senate could not be induced
70 take it IN. Now they have decided to
do SO, and will, probably, pass two OF
its three essential features The bill. 1t
will be recalled, removes the limit OF one
hundred million dollars on subsidiary Sill
yer coinage, stops the coinage OF the
silver bullion purchased under the Sher-
man act into silver dollars, now going on
al the rate Of S1,5e0,OG1 a month. and pro-
vdes for its gradual coinage INTO supsa-
diary silver, and also for the conversation
ultimately of the dollars themselves into
subsidiary pieces
1t is the plan Of the Senate leaders now
limitation on subsidiary silver and to stop
the coinage Of the silver dollar, but not
to provide for their recolnage into SUD
sidiary money. 1t would be, in any event.
from five to eight years before the pos
sibility Of this use of the silver dollar
would be reached and the leaders hesi-
tate to give this affront to the silver peo-
pie unless it is absolutely necessary to
do So The objection is raised that legls-
lative conditions may not be SO faVorabie
for action then as now. and that the ques-
ton would be out of the way were the
recoinage of the silver dollars provided
for. There is now twenty-five million
ounces of silver in stock. which would
make about $50, 100000. 1t is estimated
that there is to-day eight million dol
lars more of subsidiary silver in circu-
lation than a this time a year ago. al
though this is larger than the usual in
crease.
Silver Miners to Fight.
Representatives Of the silver mining in
terests are preparing to make a fight
against the whole or any part of this pro-
gramme. except, of course. the removal
of the limitation on the subsidiary silver
coinage to which nobody can object. Ed
ward Brush. secretary Of the American
Smelling and Refining Company. is here
urging upon Senators some OF the old sill
yer arguments in a slightly new form. He
calls attention to the volume OF the
American export Of silver. and Of the
Importance in consequence of this coun-
try's doing business toward stemning
the world movement against silver. He
says that its continued fall will seriously
affect the output Of both copper and lead
which are SO largely produced with it, and
points TO Canadian experience in this line
Word has been received here that the
P~itish Government has appointed 4 COM
n..ttec to take testimony in January as to
the means Of introducing the gold stand
ard into the Straits Settlements. The ac-
ton Of Siam. recently reported. the persis-
tency of rumors regarding MeXicos go
ing to the gold standard, and our proba-
ole action in the Philippines, have alarmed
the silver producers. They say that no
increasing demand for silver in the arts
offsets its almost total tiisuse as money
and they argue that the United States. as
the great silver producing nation. should
try TO check this tide. AS a concession
TO these interests. the Senate Republicans
WILL proboby. pass on only so much of
the Hill bill as is Immediately necessary
although all its chief proposals are in
line with what the European nations are
doing with their stocks OF silver