Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1876-04-10
rnr DxrRrcIariox or slLvER.

TIE W SA..@
The silver question 10 now beginning
to loom up in Nevada and California in
immense proportional. In San Ffsncisco
IL has taken . very practical shape. and
the w~orkingmsn q that city are begin
ming to feel tho effects Of the dsprscia-
ton Of our silver currency. Trade dol
lars. which when nrxt coined command
ed q premium over our half dollars, are
now at a discount OF ten cents. and Mex.
leo 10 sending her dollar coins TO San
Francisco by the thousands and selling
them at a premium. The great discount
on orr trade dollars which has been the
result OF the refusal Of China TO take
them at their nominal valne. il most dis
astrous in its effects on the workingmsn
In California. and very soon. unless their
market value increases. will Affect the
workingmen OF Nevada. By law. five
dollars In silver Is a legal tender. bot all
sums over that must be paid In gold.
This Law. however. 10 practically Of nc
account just now. In California and
Nevada there are thousands OF working
men who need employment. The result
10 that propriston Of manufactures have
the trump cards in their own hands. II
they choose to pay their employees in
deprecated silver-and the majority Of
them do-the man TO whom they onsrit
dare not refuse ID. because no knows
that there are hundreds ready and wait
ing to take his place. Thus the en-
ploysr gains his ten cents on the dollar.
and the employee pays ten cents more
for every dollars worth Of household
necessities which he buys.
In nearly every branch Of trade in
San Francisco the proprietor now refuse
70 take silver except at the regular dis.
count. ten cents from trade dollars and
eight cents from half dollars. The cigar
makers Of that city held . meeting last
Wednesday evening aud passed the fol-
loving resolution:
Resolved. That in consequence OF the
depreciation OF silver and tho advance Of
imported goods. va ind ourselves COM
PEELED TO raise our retail price about ten
per cent. on al cigars and tobacco from
the present rates. TO take effect Monday.
April 10. 1876.
This il but q sample Of what has been
done OF will soon Be done by all branches
Of the retail trade. not only In Cali
f~ornia, but in every State in which gold
and silver Is recognized n the currency.
In q ssnss the propristors Of the re-
tail stores arc right in this action. Tssy
have 70 pay for their goods in gold At
the Wholesale store. They arc forced to
sell them for silver. n IL is very seldom
that q hill OF sale exceeds Ave dollars.
which BY Law. Is . legal tender in silver.
II Ia evident that u they sold on q gold
basis they wouldioss the premium which
they have to pay for the gold with which
they purchase. Therefore they have Id.
vanced the prices in oil their goods 80
n to cover this margin. and the poor
consumer 10 forced to pay this premium
on gold. or starve.
What has caused this great deprccia
ton OF silver Il il very difficult to deter
mine, One NC undoubtedly ID the
return Of so many Of our trade dollars
from China. which has flooded the mar
kst. Another and more powerful cause
is the Silver Coinage bill. which has
passed the House Of Representatives.
and 10 now under consideration by the
Senate. providing for the issuing Of sil.
yer In the East to take the place Of the
fractional currency now in use there. II
the United States. under its contract
with Flood and O'Brisn. can afford to
redeem its paper currency at par. the
inference IL that the silver IL really worth
no o than tho paper. and following
the universal rules OF finance. silver ut
once drops to tho same level with the
paper money. This result has been
reached BY . variety Of causes which II
In useless TO discuss. The effect is APP