A telegram has been published in London stating that the
American President has determined to veto "the Silver Bill." That is, we imagine, not the case. The President dreads in- flation, and will veto any Bill for the free coinage of silver; but he will not quarrel outright with the immense interests which desire a larger consumption of silver. The result, there- fore, it is believed, will be a compromise under which the Treasury will buy 2900,000 a month of silver, and issue certificates against it, —that is, in fact, will issue $100 notes secured on silver. This will consume the present output of American mines, but will not, the friends of the com- promise say, suck in silver from the whole world, as a scheme for free coinage would. The President is pro- bably right ; but we confess to a wicked regret at his decision. Nothing can ruin or greatly injure the United States, and the world would benefit by a great object-lesson in bimetallism. If Washington could tie gold and silver to- gether in the ratio of sixteen, so could the rest of the world and, the possibility is just the undecided point. For the moment the Senate is "debating," but in the United States debates never mean anything. Everything there is settled by out-of- door arrangements.
