National Republican., 1877-09-18
A PRACTICABLE PROPOSITION.

Ih1t1ItIBLE fhOfOSIIION.
IT seems TO us that the questions in issue
between the advocntes of the remonetiza-
ton of silver and their opponents are
chiefly those which relate to the existence
Or non existence Of certain facts. Those
who oppose the policy Of having our coun-
try recoin the old silver dollar found their
objections upon three principal reasons.
They say that silver is permanently depre-
riated In value, and is, therefore, no longer
Fitted to circulate rs money along with gold,
because, first, the production Of u from the
mines ms compared with gold is excessive;
second, the decentralization Of silver by
certain countries in Europe will greatly de-
prcciate its value; and, third, that there
has been, aud will continue to be, falling
of in the demand for silver in Asia.
Now, If ID be granted that the claims
made by the opponents of the remonetiza-
tion Of silver are true, then they have the
best of the argument. Tho silver men, how
ever, deny all the above allegations The
first thing, therefore, for any one to do who
wishes to consider the subject impartially is
20 settle these disputed questions Of fict.
There are, to be sure, other subjects Of con-
troversy between the two parties, but they
are Of minor importance as compared with
the sbove, which really embrace the gist OF
the whole dispute.
There is one important fact which should
not be overlooked, for it serves as starting
point for all inquiries upon this subject.
That fact Is that gold and silver have hith-
crto held their own with nearly constant
ratio until very recent period. The bur-
den, therefore, rests upon the anti-silver
men Of the country, showing that such n
change has taken place In the value of
silver as compared with gold that the
former can no longer properly discharge
the functions Of money. The question in
one purely statistical in it's character. Alb
stract reasoning, however ingenious Is not
entitled to much weight. The controversy
must ultimately be decided by facts and
figures.
II Is therefore absolutely necessary that
all statistical information which can throw
any light upon this subject should be col
lected from the most authentic sources.
When such . compilation has been made
md has been duly systematized and di-
gested, statesmen who are fhmiliar with the
true principles of finance will be able to
propose and intelligently defend such legis-
lation rs the facts when thus discovered
will clearly Indicate to be necessary.
There is no necessity for hasty action in
regard to this subject. Those who favor
the maintenance of the single standard
and the advocates of resuming the coinage
Of the silver dollar are 50 wide apart that
nothing short OF the unansver;ible logic of
facts can ever reconcile them. Meanwhile
the question will continue to agitate the
public mind, and will interfere more OF less
with the business of the country until it IL
settled. Under these circumstances it
seems TO us that il would he wise to make
N m af thia Iat
when il assemblies Immediately pass q bill
for coming fifty million silver dollars. 1t Is
admitted that this is rs much rs with the
present capacity Of the mints could be
coined within year.
Some Of the advantages of this plan are
as follows: II would serve rs an expert
ment to test the practical effect of the re-
nonetization Of silver upon the market
value Of that metal 1t would postpone the
necessity Of any final action upon the ques-
tiOn for y year and thereby give . full op-
portunity for its mature consideration in
the light of all the facts which could
meanwhile be collected. Even if the views
Of the advocates of the gold standard
should finally be adopted the fifty millions
Of silver put in circulation rs above pro-
posed would not materially interfere with
the practical execution OF that policy. If it
Is Thought hest 10 issue the ffty millions
as an experiment, the sooner il is done the
earlier will the nation lie able to profit by
the lessons which it would teach.
u is high time for us TO be getting down
to the solid rock of facts. There Is very
little profit in controversies carried on with
disputed data. If the correctness and au-
thentieity of the statistics embodied in Mr.
GRoEsBECK's recent SPEECH can be estab-
lished an easy victory awaits the silver men.
Their opponents, however, constantly as
sumo that the opposite stilte of facts exists,
30 that the only effect produced by these
conflicting statements is doubt and confti-
sion, not so much rs to what the correct
principles of finance are, but as to what data
arc to be considered as trustworthy.