, 1876-12-18

Wo earnestly invite the attention Of Con-
grcss, and especially Of those members who
officially nro intrusted with the details of our
financial government, to the famine iu cur
roncy with which the country is threatened,
and which is daily drawing nearer. The
lntcAt quotations. Of silyer were given in TIE
TRIBUNE yesterday; these quotations wore
Fine silver, 68{ pence per ounce in London.
This gives rs tho bullion valuo Of tho trade-
dollar (i2O grairs) 0.0JGl; the gold value Of
tho old American silver dollar {41ai graias)
is 0.078J; aud Of a dollar of s.nall silver
coins, 0.9l5; aud OF tho grecnback, 0.0275 to
0.03e5. 1t will 10 seou that tho tradc-lollar
and tho old silver dollar are now Of considora-
bly, greater valuo than the greenback, aud
will not circulate iu competition with IT.
whilo the margin of difference betwcun the
gold va1uo Of the fractioual silver and tho
grccnback in reduced to fraction, which IL
rapidly disappearing. It il at most but
question Of few wcoks when the fractional
silver coin will exceed tho groenbnck IN
yal,te, and at once it will bo boarded.
Tho inferior currency will exclude tho
other, mud then We will havo no small
change, either of coin or Of paper. The
fractional paper currency Inns boon retired to
the amount Of 5l2, ,000, 600, and has become
exceedingly scarce; tho amount of small
silver authorized Is only $40, ,000, 900, but, Of
tllis, tha most Is dependent Oh tho surrender
Of smallpaper, which docsnot soom to exist
at lcast $15, ,000, 900 OF TINT currency having
been destroyed, and therefore lost. tits the OF.
perionce that when any coin is worth even ono-
eighth Of por cent moro bullion than it is as
money, TINT moment it will disappear from
viow,-bo hoardod, or, rs bullion. shipped
We hayo practically got rid Of tie small paper
currency, and now silver has advanced 10
closely upon tie va!uo Of groenbncks that
there Is immediate danger OF the limited
amount Of silver disappearing from circula.
ton. It requires but aa additional half
penny to tho quotation Of silver in London
to nuke ono fractional silver coin wostl,
more than greenbacks, anil then the coin
will 10 put away or melted to be sold for
bullion.
VIII Mr.. Senator SHERMAN, and Mr., Sen
ator MORRILL,, and Mr.. Senator BAYAnp, aud
other experienced lnombers Of tho Fiuan co
Committee. tako notice of this rapitlly-ap.
Proaciing funlnc IN silver currency, nllii will
thoy ask tl'o Senate to givo fnw hours to
uaturing bill to avert this calamity9 Never
was there such MI opportunity to place tho
business Of tho country upon specie basis
permanently. It caI lunko no tliifercucc
Whothor HAYES or TlLpxA bo President, so fa,
rs tlo necessity anil duty of supplying thu
country with money Tor che..sa is con.
cerned, mud It will bp sha,nclul re.
proac'l to tho intelligence md statcs.
manshlp Of tic country tia. tho poo.
pie Should bo left without sufficient uo;,,
to transact THUR business, when t&p siiyss
bullion IL pllul up by Ions III warvh ,us J.,
Ut tho mines waiting permission to b.: cn!nes,
Tla bill passed by tile llunsa OF Repre-
santattvos is a'l proper und jna, bu. tle Iii
does not cnbraa2 e'.ouSh To rsect t4o esser
gency. It Ii TN duty Of Congres* 10 TIL,
advantage OF tho l,ro'sont tavosnI':" condition
OF tho silver lungkut to advance the val,c u
tho grouuback. aud thus save onr .a;n.sJ.
There should DO un immediate provision tn
froo co,iago ok thu silyer dollar Ut tao Oh
stantlarsl; tue privilege Of eoinnse s!sonl.l Ii
ulade ut once, aml tho ySl1s OF tho grepu
back dollar should bu lna,la rIual to tim. t.
tue silver lollar by providing fu. tl,u RI
tlen1ptioI OF tl,oso grcanlacka with silver dol
lars in limited quantities at stated intervals
Tue entire appropriation for n'd income o
tho sinking fund should bo applied to t!4
purchase Ut silver, with which 10 rctlcen the
paFt OF lie public debt represented In til