| OCR Text |
Show Milver versus Gold. Washington, 16. The action of the! Bos'.on banks, concurreut with that of the New York clearing house,' practically tabooing silver as u cur rency. excites much attention. That the silver men will countermovj by attempting to attack banks through; congressional legislation, ia autici- I pated. The bank men, however, accept the isaite, calmly believing that il uiuet be met sooner or later, or that the operation ot the silver bill will drive gold out of the country so com-plett com-plett ly as to bring all business transactions trans-actions and property values down io the basis of the depreri it. d 6iiver dollars. They arguu t:mt if .r..i4 n!i iti'd Ifoirlate to as to cut oft' tho surplus revenue, . either by reduction ot taLitoa, or by enlarged appropriations, aud thus remove re-move the power of tbo treasury to nM bonds, iu order to maintain resumption, resump-tion, it would lake at least eight years to eihaust the present stock of gold and replace it by silver. Thu plan, therefore, is futile. Tbe more likely plan is an eflort to secure unlimited silver coinage, but it is not believed that this measure can pats the senate, in view of the Bcven months' experience experi-ence showing that people do not w&nt silver and will not have it. Congress may compel people to accept silver in the settlement of prtsent debls, but if tbe banks are firm, ninety days will have put all business on a special gold basis, by the banks making opecial contracts for loans payable ; only in bankable fuoda, wbicn silver i would not be. But the proposition i for unlimited silver coinage did not command a majority ol the Beuate ln.t voi an it was not Hkelv to obtain the two-thirds which g wot; Id be required re-quired to poss it over the executive veto. |
