Year: 1878

ment OF the people it would pass. 1t
would certainly pass the house. and nv
impression is that it would pass the
senate. Ii these New York people make
much OF fight against the silver dollar
we will organize our silver league
made up OF both political parties in the
house-and we would, l think. be able
to beat them. saw Secretary Sherman
the other day. He said he would have
gold, silver and paper on an equality on
the lst OF January


How Is he going to secure this -


Judge B.-"rhcre are but two WAYS
that l can see. He has either got IT,
diminish the amount coined monthly or
increase the silver in the dollar He is
not coming much more than the mini
mum, 81 900. 900 a month. now IT. is
all Il mistake to say that silver will not
C rculatc. Or cuurrc the dollar wa the
cheapest CON. and was picked up at the
beginning Ia pay customs duties here
tore IL CIrculateS from the treasury To the
custom-hnuse and back agaln AS soon
as there Is more than enough for this
use coined, it will circulate. Our peu.
pie want the silver. The banks IN every
section OF the county would take the
silver and use it as a reserve fund. Of
course they would not take it in very
large quantities. but enough of the
banks want some of it Tor the purpose
to exhaust all we could coin for some
time to come"


GLOW about free coinage?"


Judge B-"I think bill tor free
coinage will pass tho house without
doubt. and it is also my impression that
it will 20 through the senate. The bills
now pending i'll the house provide for
putting it on an equality with gold, aud
to be used for the saline purpose. The
country is never going to be satisfied
until they get that. do not see why
Secretary Sherman does not put ou, the
silver Tor resumption purposes. unless
he thinks it will send god out of the
country. There certainly will not be
such depreciation in silver as to drive
gold out tor some years to come. Now
the Tribune's articles arc ali on the
ground that we who are for silver are
rcpudlatOrs; that the bonds all mean
gold when they say coin. etc. Now.
that Is utter nonsense. The standard
coin was the silver dollar rs we'll as the
gold dollars when those bonds were
issued. and we have the option. Suppose
that by some means the gold dollar had
depreciated, then il We were to offer
payment in them, that would be repu-
diation.'


do you believe that we can have BIZ
metallic currency


Judge B-"I think It doubtful .cousii-
erlng the action OF toreigh countries. 1t
We must have one standard, ! am n
favor OF silver. We could readily get
| rid OF the cumbersOmeness OF silver by
! the use OF certificates; gold would leave


us. In the countries whe~e we trade it


would have the effect OF increasing


prices. This is not desrabiity but Il
| probability. BY the course OF the foreign
| governments III demonetiZing silver the
disparity between gold and silver has
! increased. | see NJ immediate nec.s-
slty OF this question being acted upon.


1t will depend much OF the amount oi
silver we will coin. | think the people
viii choose silver il We are to have one


standard They know they have the
option and Will never submit to gold


They would be doing what every man


would do in his individual case Tues,
| Clearing house fellows wants to nuliIly
! the silver act | am anxious To see what
! Sherman will recommend in his report
, to Congress. There Is one thing sure
Those New York nulliiicrs canuol hood,


wink the people on tinancia! Legislation
any more. While there is much w!iC


talk, and while the people seem often to


he misled by wild theories, yet they


know pretty we'll what is i.ht. and they


vii! have that right.


How about resumption generally ?
Judge B.-"As long As The bn!ancc o.
trade remains III our favor do not SIC
| why the treasury cannot succeed. IL
| fact, | want Sherman t. try it. and hope
he will succeed. He told me that he
had only increased the bonded debt by


S95.OUU.uOO in getting gold; | had


thought it was more. We must get rid


OF this tiat idea and reputation by in


crease OF greenbacks. What we want


TO do is put out silver and take circula-


ton away from the national banks and


give 1t to the government, thereby


making q saving OF from so, 200, ,opO to
$50, ,00O, 900 year.