New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-02-18
SILJEH 1N 4 UEf T..


There is great and growing excitement IN
san Francisco over the late fall in the value
of silver. 1t seems that the merchants and
bankers there have been in the habit of taking
trade dollars in all payments OH the same foot
ing a. gold coin. Thc-c dollars. considered is
bullion formerly rated M or above par Ill gold,
and are now midway in exchange Nalur he
tween gold and grc"uback>. heir number
has RAPIDLY increased Of late and they have
been used extensively AZ the Nevada mines
and elsewhere tor the payment oi wages.
They have now become Il nuisance on the IA
clfic coast threatening, moreover, to drive the
gold coin out of circulation. The merchants
and bankers of san Francisco have bat one
course 10 pursue if they do not wish To see
GOLD pieces entirely disappear from cneulatl"n
They nusf refuse The trade dollars for oil pay
ment> larger than five dollars. This remedy
the law allow, them. Some of IN" cw>papcrs
there are alicad, urging Congress 10 make
silver an uAlimited tender. That. in the pres
emf state of things. would ne y formal rcpudia
ton ON the part OF the United STATES oil II
considerable percentage Of H. indebtedness.
Tie propositions 10 make silver legal tender
for ten and twenty dollar are open To the
same objections. We are glad 10 see that 'N-
COY. Low Mr.. Charles Sutro. the Hon. Milton
:. Latham. and Other prominent men VINO
have been consulted on the subject br the san
Francisco new rpaper reporters condemn " foto
the project of Senator Jones 10 change the
standard from gold to silver, and dcbi-c the
silver dollar to level with the glccnbdck.
That indeed. j. abOu, ~ cool ~ anything yet
broached by the inilai0nsts. NongIcSs VIII
hardly consent, We think, 10 disgrace the Re
public i'm order 10 Keep M the dividends OF I'll"
bonanza mine owlcrs.
Duriny the la.i three years observing per
sons have had many chances 10 learn the
meaning of the word glut. There have been
of lafe glts of iron, glut, OF cot
ton goods, and glnt> oi many other
things besides silver. All gint> that We
have seen or heard of have passed away after
n short time. II too much cotton has heeH
raised. What j. the remedy TO lower ilif
price or plant less the next season. Ih'Tr arc
two distinct outlets for the ovcrplu- of silver
either Of which is sufficient to take It OF without
rcSorting 10 q dehascmeut at our coinage
Great Britain France and the United Statr'
import every wear from lnda and emma pro-
ducc and merchandise Ia the value OF about
three hundred million gold dollar. those
imports are paid for partly in silver ana
partly in other productions 81 tn0pc aho
America. The Chinese. ~ il well known, have
yc,y stilf notions ON tho balance of made
They like il favorable, and the, are wiling Il
take. and have taken for centuries
almost unlimited quantities of silver The
rade dollar was expressly devised loi
the idoIatcrs. and L. said already 10 hr TIC Ia
voritc coin with them. MAXI silver ANA trade
dollars cheap and the Asaiics viii take more
| silver and less merchandise i'll return FOR th"l
/ tea The Manchester -sliibncis are already
! loudly complaining of the mIiofiidhleteHs Z"
/ their trade with the East. They are III reality
competing with The Nevada mines. ht u
the wants Of trade" IN India and China, en-
cOuiagcd by fall of one or two pence more
i'm the price of an ounce Of sis cr bullion At Lon
don. cause more silver and fewer cotton
goods In be- sent INFO Asia, what can the Man
| chester summers do hut submit ! Is il an,
harder for the rich Senators from Nevada I,
stand 4 falling off in their dividends than i
is for the Mancht >ier epihier> and on South
e,n planters 10 take lower pjces ior their pro
ducts. which they have aheady hccn com
PEELED to. and much love- ones i'll proportion
than that now ruling tor silver Within fou
wears. indeed. silver hts fallen hut ten Uc
cent, as measured 10y its gold price in London
bui cotton and cotton goods measured by In
same standard. have fallen in the same Tim
from twenty TO forty pcr cent.
In the second place. tons ~ silver are us"'
for watch cases, knives, forks, spoons, tea
pots, Ice pitchers, and other things vastly to-
many to he named hee. Lower the price n
silver and its use in the art- will quickly in