Lyon County times. [volume] (Silver City, Nev.) 1874-1907, 1877-04-14
MORE ABOUT SILVER.

Give our silver coin commercial
value and there can be no loss oy the
adoption of the double Standard
[Lycn County Times.
There could be no loss 80 long as
the commercial value and the nom
inal value we're equal, Of course. But
II we give our silver coin CONNER
cial value this year, and next year we
find that the standard we have adopt
ed IS below or above the commercial
mark. what are we to do thens Mani
testify future coinage should be made
TO conform to the altered condition,
but how about the coins already In
circulation To call them in and re-
coin them would incur great loss to
the State, were il practicable, which
it would scarcely be- Footlight.
Our contemporary seems to agree
with US that future coinage should
be made to conform to the altered con-
dition" of silver in its relative value
to gold, and of course we understand
the impracticability of recoining our
silver every year to make it conform
to slight fluctuations. But we believe
a standard-say at the rate "f SD or
56d-might be fixed which would be
practically suited to commerce for
many years. Our contemporary over
estimates the difficulty and loss at
tending the calling in and recoinage
of the present deprecated coins. The
numerous mints of the United States
could recon the whole within few
months, and the loss would be moth
ing in the purchase Of the outstsnd-
ing coinage, for the government can
buy silver as low as any other pur-
chaser. Again we quote:
And then while our coin was above
or below the commercial value of sill
yer, spectators would buy ingots,
get them coined at the legal relation,
and thus gold would disappear, or
the reverse would be the case, as the
situation might warrant to specula-
tors.
Speculation in our silver coin by
foreign capitalists would be hindered
bv at least two causes the full
worth of our coin in any foreign mar
ket would always be known to our
people, who would not part with it
below its value; and, second, our
standard of alloy is different from
that Of most countries. In England,
for instance, silver coins are eleven
twelfths fine, while ours are nine
tenths. This difference Of alloy would
operate as a cheek to the expectation
of our silver coin, and our gold as
we'll. The Footllght says:
The only way to raise silver above
the laws of trade is for the chief COM
mercial nations to form compact
with respect to the relation which it
shall bear to gold. Without this COM
pact, all arguments in favor OF a
double standard are worthless.
The subject of an international
convention to consider and fix the
relative value of silver to gold has
been good deal talked of, and we
believe meeting Of this kind would
do much good, even if no compact
could he agreed upon. But without
this, we do not believe "all arguments
in favor of a double standard are
worthless" We keep in sight an i'm
portant consideration which our con-
temporary seems to entirely ignore
oroverlook the artificial disturbance
of the relations of gold and silver.
The regular operation of commercial
laws did not cause this change, and
over production of silver has been
mole imaginary than real. We will
admit that the wild stories overesti-
mating the value Of the bonanza
mines influenced for time the for
eign markets, but their real worth is
now as we'll understood abroad az
here.
In conclusion, We will say that, in
our opinion, commercial value and
legal tender power must be given TO
our silver coinage, or we must aban-
don its use as medium Of exchanges.
THE reforms now being prosecuted
ia the departments at Washington
threaten to break up some very pleas
ant family parties. One instance is
I'LL .-h..~ .a-.n ,~,aN, ha~x Al r.