Show WHITE METAL What Our Business Men Think of It EFFECTS OF THE BILL It Will Be a Big Thing for Utah and the West A BIG RISE IS EXPECTED Prominent People Discuss the Bill and Uomplij ment The Herald for the Enterprise Displaced in Its Exclusive Publication The members of the stock exchange bankers and business men were discussing the silver bill yesterday and many were the favorable mentions of the enterprise of THE HERALD in furnishing them in its Sunday Sun-day edition the complete text of the bill to the exclusion of all the other newspapers Such a scoop happens so often that the people are beginning to accept it is a matter mat-ter of course So much has been promised for a silver bill that it has occupied the attention of the business men more intensely than the tariff legislation or any other measure Even the appropriation for a government building at Salt Lake has proved a side attraction beside the allimportant silver measure HERALD reporters being dispatched to I gather an expression on the silver bill from the bankers and brokers first called on I 3IR HILLS cashier of the Deseret National bank but found that gentleman not inclined to give up his views on the measure acd he would not say whether It was such a bill as he would have prepared had the duty fallen on his shoulders or not The next person sought was W S 31CORXICK Mr McCornick had no hesitancy hesi-tancy in saying that the bill suited him first rate and far better than the free coinage legislation which THE HERALD had been advocating As it now stands said Mr McCornick there is a menace against the world dumping its silver here i they see fit The purchase of 4500000 ounces of silver monthly will take up all our nroduction and will have the effect of nhancing its value which is enough for the present We ought to come to free coinage by degrees The country is not prepared to take it atone at-one dose well work into free coinage gradually by this system as day succeeds night and without any jar disturbance to our monetary relations with other coun tries A great many silver men demanded free coinage but as far as I am concerned I prefer it to the Bland bill until some arrangement can be made with the European nations to adopt a bimetallic currency It will put money into circula ion and in that way lighten the present stringency I believe silver will go to 120 within a year M H WALKER who is an intelligent studentof silverlegis ation was a little disturbed lest there might be a dead fly in the ointment so care fully prepared and as one of the speakers aid it was written in a fine Italian hand I read the bill in THE HERALD said Mr Walker and I think it was the only paper that gave the full text of the measure meas-ure The reporter modestly assented hat the banker was quite correct In reading over the bill I aui little afraid they gave too much latitude to the secretary of he treasury You remember the last act gave the secretary the power to purchase not less than two million nor more than bur million ounces of silver monthly and for some reason he saw fit to only purchase he minimum amount Mr Walker referred refer-red to the following extract from section two of the bill as giving a latitude to the secretary of the treasury that he might use to defeat to a certain extent the spirit of he measure That upon demand of the holder of any of the treasury notes herein provided for the secretary secre-tary of Ibe treasury shall under such regulations regula-tions as he may prescribe redeem such notes in gold or sliver coin at his discretion No one can forsee what regulations a secretary of the treasury may prescribe In section three the secretary is given more latitude in these words That the secretary of the treasury shall each month coin XK000 < ounces of the silver bullion purchased under the provisions of this act into standard silver dollars until the first day of July 1E91 and after that time he shall coin of the silver bullion purchased under the provisions provi-sions of this act as much as maybe necessary to provide for the redemption of the treasury notes herein provided for The secretaries of the treasury have always been in sympathy with Wall street and when they are given any latitude that can accrue to the interest of the money owners as against the silver producers of the country they do not hesitate to exercise exer-cise it Otherwise the bill is all that we want and had the secretary been shorn of his power it would have led up to free coinage How will it affect the price of silver I would not be surprised to see silver 5113 inside of sixty day from the signature of the bill by the President Anyhow it is a better bill than the old one and will more than consume the production of the country coun-try and if carried out in the right spirit will go to par in a year making fine silver worth 129J9 to 2067 for an ounce of gold Mr Walker also took exception to the clause which made the treasury notes legal tender in payment for all debts except when otherwise expressly stipulated This exception will lead bankers and other money lenders to insert a clause in the contracts con-tracts requiring payment in gold which of itself would mitigate against silver und artificially ar-tificially appreciate gold Mr Walker thought the latitude given tne secretary to coin two million a month until July 191 and after that time as much as may be necessary not wise as there was no advantage ad-vantage in having the silver that is piled up in the treasury vaults coined it being quite expensive to put it through the mint JUDGE ZAXE I dont think I care to say anything yes the bill is a good one and I dont want to be interviewed andof course thevbill will help the west if I can pet along without saying anything why it will be a great boon to this section COUNCILMAN JAMES The bill is a good thing It will prevent the breaking down of silver by its enemies which might otherwise have occurred had a free coinage bill been passed It will help this country wonderfully and I am heartily glad it passed JAKE IUMBERGEH The bill is a good thing It will open a channel for silver If the measure had been a free coinage bill the first failure would have been seized upon by the gold bugs to crush out the metal As it is now it will be different I think it will help out the west wonderfully It will cause mines now unworked to resume and tOe general resultscannot help but be beneficial T AV WAMPLER I think the bill is a good thing if wff couldnt get a better one It will use up fifty millions of silver a year and as we only produce seventyeight million forbotn the arts and coinage it will consume toe production 1 am for free coinage first last and all the time The bill is a forerunner fore-runner of what is to come and while I do not exastly believe silver received all it deserved I incline to the opinion that the measure will bo a great help to the west It will stimulate the mining industry and will bring several dollars westward that would otherwise have remained in the east Bye and bye we may be able to get more You know I introduced the free coinage resolur tion to the silver exchange but somehow Congress did not pay any attention to our request They seem to have a notion that they can run the country without us AL SORENSEN The bill as passed was a party measure and partisan politics entered into the contest con-test greatly Still I think it is a good thing While wo did not get all that wo asked for the compromise will help the mining country to a great extent It will be a good thing for us all wo want moro money Incidentally you might say wo need more silver and 1 am in favor of coining coin-ing it It is handy I c c GOODWIN The bill as passed is a good measure It is a compromise it is true but its passage means a great deal more than now appears Silver will advance in price and by the next session nf rnrurrMR will hfl SI 1R or S11S By that time its true value will hayo been demonstrated and a free coinage bill can be passed without difficulty FRED AUERBACU A half loaf is better than no bread at all and this half loaf is a good big one I think the passage of the bill oven though it is a halfway measure will have a wholesome effect on the finances of tho country In a short time I think the nations of the earth will adopt a bimetallic measure and then we will bo in clover When that time comes we can talk free and unlimited coinage L F KULLAK I believe it will do moro for the western country than any act passed during Barn sons administration It will revive the mining industry in Utah Montana Colorado Colo-rado and other states and territories an STEVENSON the stockbroker said I am satisfied with it in the absence of anything better I wasnt at all afraid that free coinage would upset oar monetary system but there are a whole lot of cranks in tim country It ought to put the price of silver sil-ver to from 115 to 116 In six months From the fact of the large enquiries coming com-ing from the east for silver and lead mines I am convinced that we will have a mining revival How will it affect the stock exchange I think the last few days sales indi icate that it will increase the sales on the Salt Lake exchange I look for a revival in the mining industry such as we bad from 70 to 73 ORLANDO WATSON POWERS The election has been lively and while we havent got the earth still wo have done well As regards sliver as Dolhver said a night or two since the Iowa schoolhouse is a thing of beauty and a Joy forever I am an advocate of free coinage of school mnrma thib ti hi1 41 from every schoolhouse in tho country The text of the bill as I understand It is to provide for a limited coinage of dollars to pay the teachers employed in Utah Should the President sign the measure and t think he will the effect will be wonderful because we can employ more teachers I am going down to ask McCallura what ho thinks about it itC C E WAXTLAND The eastern grangers have awoke at last and they have come to the conclusion that more money means larger prices and tde payment of mortgages I am glad the bill passed and look for better times COUNCILMAN COHN The bill is a good thing and I am glad it passed A UANAUER JR Yes the measure is a good one it cannot fail to have a good effect upon the west generally A L WILLIAMS thought it was a good measure Hardly as good probably as a free coinage measure would have been but a good one nevertheless neverthe-less II AV LAWRENCE Mr Lawrence was in high spirits over the passage of the bill It meant a great deal for Utah and the west generally |