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Show THE AD SUM I STB AT ION ON THE SILVER SIL-VER DOLLAR. The Hayes administration is becoming be-coming seriously exercised on the question of the romonelizalion of silver, sil-ver, and tho president imd Secretary Sherman are Hooding the press with their views on this topic. There seoma to be no doubt that the ad ministration min-istration has adopted the double coin standard theory, which will probably bo lho subject of favorable comment, in tho president's message to congrejB in Octoter. Secretary Sherman, however, does not hoid with Sonaior Jones that tho old staudard dollar Bhou'd be restored and made a legal tender for any amount and for all debts duo to and by tho fcovornment, but tho secretary wants tho silver dollar dol-lar made a leg- lander only to the. extent that the greeubacks are legal tenders, that is, the new saver coin iv'.il not be received for customs dues and cannot be paid on the interest or principal of the national deb;, powers which, silver coin always pesscjied in common with gold previous to the legislation of IST-idemoaetiiitig silvor. To this extent Sherman holds that the issui of silver coins in the redemption i of legal tenders will bo an aid to the resumption act of 1S75, but the demand for silver coin for the: purposes of change being supplied,1 it is not npparent that under, the circumstances of their is.ue there-will there-will be any considerable demand for silver or a general desire to exchaugol lejiitl tender notv3 fr bilver cum. Our tilver dollar now rau'cs in the market at some 10 per cent, bo'.ow gold and at about o per cent, bJuw greenbacks, and the acemtary of the treasury fears that to restore the legal tender character of silvor coin would practically drive gull and greenbacks out of circulation and leave nothing hut silver for all purpom-a. Well, if 10, upoeio payment would certainly be resumed, rhich seoma to he the great aim of the secretary, tjiivcr i3 a part ot our constitutional legal Lender currency, cur-rency, and should nover have been deprived of this character. The truth is that Secretary Sherman's plan is in no Boiiso a plan for tho remonotizv tion of fiilver. It simply provides fur the employment of silver tokens in limited amounts for popular use, to take the placs of Lh fractional currency. cur-rency. Under it silver coin would cut no broader figuro than this. There H another and prnntfr awindln in. thin proposal. Secretary Sherman pro-poaos pro-poaos that tho government shall purchase pur-chase silver at 10 per cent, discount and furnish it to tho people at par for legal lender notes. This is legitimate according to ad m nitration ni-tration ideas, but it is held to bo a monstrous wrung to pay tho bondholders in silver, in compliance com-pliance with law and tho option of the government when tho bonds wero issued. This seems to be a discrimination discrimi-nation against the peoplo of the United StateB and in favor of the foreign bondholder, and this is the way our financial policy has come to bo viewed in the central wostenl states. In Ohio and Indiana politics still continue con-tinue to turn on financial questions, and the attention now being paid by tho administration to the silver question ques-tion shows the necessities and dangers of tho republican campaign. From present appearances the democratic convention of Ohio, while demanding the restoration of silver as currency will not do so at the expense of the greenback currency. The republicans will attsrapt to dodge this question, doclaring for tho silver dollar, without with-out specifying tho extent of its use, and making glittering generalities do duty instead of a well-defined and explicit platform. Ihe administration adminis-tration leaders are very anxious in regard to tho Ohio election. Tho president's southern policy has demoralized de-moralized his party, and it is regarded almost cortaiu that, with a bold popular platform, the democrats may easily overcome Hayes' small majority major-ity and rodeom tho state. There is every prospect of democratic unanimity unan-imity to this ond. The defeat of the president iu his own conservative state would bo ft severe blow to the administration, and a sourco of corresponding cor-responding consolation to the democrats. |