Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1873-11-01
which should be stamped upon the
coin. are as follows:

Weight Of
$50 g.. COS sSld; sSI Il One gold sovS g s 9
Er' s sS silver. silver cyl sSI ss q anne sns s son:F, 'i'Si's
$50 1000 $50 100000
$40 lilo grains Of pure silver are worth
In our old dollar Of 4l21a grains, only
81. 6O93 cents. at which valuation. as
before said, It Is now at par In Lon
don. This would give only 99.79l9
cents as the value OF gold and silver In
the proposed coin. IL will, therefore,
be necessary to raise the value OF sill
yer, as compared with our old dollar.
.2aT per mill. or between 1.5 and 4
per cent. This gives US on 34O.!
grains. Of pure silver. an Increased
value Of 5000. POSI-. making the whole
value OF silver 9l.S174 cents, and the
coin exactly 81. As we have no legal
unit OF value for silver, this can be
readily done without disturbing pres
ent values In any way. For the sake
Of convenience, I then state the COM
parative values between we'll known
units as follows:
(&Old IN Sil- yer EUQ.
yeras std OF
Proposed coin:...."-lgls S Sss equal % Ss, assd
T Trs Soe eoliar 1n 10 equal S7.s7sd
Although some"nas ionS We 4"o
at length from his reasoning In favor
of this coinage:
Starting thus, a. we do, at a point
mneIs vi, Iae 80 !. s,,sh,,v ,hovs that In
INTO t.'s SoII, 10 siisn,.y o. n,asta.
tne Pr'nc'PA' anu a. ns,,c% ,hs
OF nc "oIiu, a.e a. ur,ors natal
.eia,ise saiues vi t"e "esr cIosaiv ~
sU'i ,os a. co~mmodit,.s,
.une" Lii 49," ,h,, rho immedIate
y e., n,S, ha ~ chact anv further de-
oiiuo q, ~ U,,c. nT silver ma IL onions
hn,nn n,a,ta, Sor onr entire nrotlnct
nSa,,en aSovo tbs, abroad. 10
CO.. no,h;nn -, shs exnsnses of LAYING
IL Sawn IN . foreion market. And ms
,SSs nrodnc IA naarlv fiftv ner cent of
,ha, ~ the world M withdrawal from
other markets must sooner or later pro-
duee a sensible effect upon the market
Psiye ) anu ~ sme sT sIic ci m A.
Somn and ,h,. mntsrIaiIv Contributes
TO a resumption OF specie payments.
You will also observe mat II can oe
made to entirely supersede our frac-
tional subsidiary silver coin with per-
feet safety, as the gold 1t contains acts
precisely as n seignorage does In pre-
venting It from being melted or ex'
ported. For purposes OF the arts,
either at home or abroad, no one can
afford to give a dollar In gold to OBJ
tain n~lnety-two cents In silver; and
this gold would add no practical value
to siiverware. even II the silversmith
could demonstrate Its existence in his
plate. And rs l have already explain
| ed that silver containing gold Is at a
discount abroad. as compared with fine
silver-to say uothiug Of shipping ex-
penses-you will perceive that silver
must advance In price very material
ly before Its outturn would equal It's
par as money, IN foreign exchange
and hence It will not be exported.
Mr. c,rn., than nronoses somo OBJ.
-, "a IN,
Jeetiohs which u,'y oe i"i'eu' ""u ~"
sweEs them as follows:
WIN 4. have the effect of driving on,
,oILp .tb;nt n~ot-rrrtainly TO nc
Srs,,sr asten. than NOW. I hive given
r.,.ons WIN I think gold must continue
~ .nnrocIs,e win referencc IN tht
'.I psSIs v,,ro of .iIver "a we'll N.
~ 80. 81 ,hi, ,.nd.vcv
. ess p LII VS. a.,v neon msce y,,t
.mw nroha hIs aavam.e IN tb, nrIce OF
S,Eiyrr sna ,Sns nrsssrve ,bsir relative
sa,ns 40 nssr,v pa 70 l.avs NO Induce.
msut ;" shin eithsr. sxcent in the even,
~ ,h,. ;naporshIe ns,e.si,v NJ adinst.
,nr ,ho hoIancs of trade which we
,uS n,. =" Io 10 aoidWwbirh leaves
no" d., g. u .uan, ,ha, i,
' uS " lii hav. no natal Ian
uau; y W." w, ns,nid anahlo M 70 donbIs
"n"I .o,"s,ta,,on no would In
our ~ hs.,on IF
any event., NC oe.Io.
|, o. u encourage uunseIIeI.lnss .
believe not. IL Is rue tna ths sulouht
OF gold Is 10 small thas tue ainerehce
In the specinc gravity oi tnai ehetai' no
compared with silver, con,d o oe
really discovered oy the weigna Oh .ns
CON- II II were enslreIy 9t s',ses anu
copper. but, as q go,u Is iess na
nine per celt ol Its s"'ue, you wv"
observe IL wouiu req9ite Husse az AZ
capltai 70 90 inVesseu ,m s,lve, " yio
a smail nount o' p !r,,n W sno
oi oun.elsesn"s ,,ah ,o,,iS ha IireIv
ieit, tneIeIote, WHICH Nv Sr rS;ny
o oe as.en'pseJ ,h., wonia onniv -
oase METALS , anu W. s.adiIu az 10 - one
Containing gold.
Is any injustice done to creditors by
Issuing a coin as a legal tender, con-
currently with go,T, i, III" nsmno. No
rssIizsd a. Commodity. in conse-
oueuce of the greater expense attend
ing such conversion! Clearly NOT, l
.h IN ..taSiisb;no the denomin.
ate value ofa precious metal, as money,
no more undertakes to guarantee Its
exchangsaoIe value as a commou,.y
~; iu" arcb u. ~aiues Of other nro.
ducts. It Is true that such a principle
Is partially recognized In the limits
placed upon subsidiary coin as legal