The New York herald., 1877-07-02

metallic standard provided silver continued depre'
article OF merchandise below par ID goio.
would produce demand TOR not less than this ui sum
In silver But where are $780, 000 900 OF silver TO oe
at once obtained Germany has mol low more tnan
900 OF silver to dispose OIL ana prooaoy no
more than eighty millions wniie all tne otneI
countries cf Europe combined woud DOT iurhisn as
large a sum Two hundred millions additionai NJ less
than IN gold Can any one point out any other
sections of the world where other supphes oI SILVER
can be speedily obtainedY .
REORGANIZATION OF silver In the United States VIII.
therefore. undoubtedly bring silver 10 par WIN soid ~
the open markets OF shc world and WIZ IN no wsy
benefit deutor he counts benefit the oppor-
tunity pay his debts in less than he received.
BY restoration Of the b metallic standard, also,
the debtor VIII be benefited, bat Is certain to be
materially injured He will obtain silver money
or merchandise at less than he would pay Tor gold,
and he will thrust upon the community a currepcy,
cumbersome TO handle anu use; an antquaed, made
auae tool Of trade; CON that practically cannot be
used our international transactions, and pohcy
sure to hinder IL not arrest, the revival Of bus.
ness and national industrial and commercial develop.
meut. And The burden OF all these evils VIII lall
anke upon The debtor and creator In Short for the
debtor 10 advocate decentralization OF silver or the
restoration OF the bi-metailc standard IS TO play the
fool In history who. sitting upon imo sawed u on
between himself and the trunk OF the tree Up to
the pres time tie main elect OF Tue uemOnet'1d'
ton OF SILVER boon to deprive Germany ol the op.
portunity of selling her cumbersome silver and
dumping IL at par on 10 this country; ano W ASK tn's
nation 10 now remone,ize silver s 10 emoo', % os
garments oougnt al full prices, whch otner naohs
sre anxious to discard.
To sum IN There can be no objection to paying
Debts contracted prior 1878, with tho "Doar OF The
fathers" or, rather in the commodity-coin-in
which they we're CONTRACTED; but debtors generally
viii lind that advantage whatever VIII accrue 70
them from the privilege There further be OBJ
Jec.on 10 the use OF silver a subsidiary or token
currency made legal tender or legal tonder IN OK
cess oil "a smali sum ior any one specific payment 70
any the people viii desire But when II Is pro-
posed further aud require the sons 70 accept the
dollar OF the fathers Tor The payment Of future debts
answer 10 this proposition, simple aud concu-
sve IL that the dollar OF the fathers ~ not on
grounds oil convenience. adopted for SUCH use
~. tNtp hat fhn ntnof
improved tools OF tradc-as they want better
menods OF conveyance, OF warming, vi light
rSs news. than did the fathers. They want, as .
condition Tor success business the coin receivable
without discount by tho great commercial nations wan
herein another point that ought not 10 ia OF
Receiving full consderaton--namey that whereas IN
most cases. rst OF Improved TOOL - greater
than that OF poor and uniinproved one,
the conditions are reversed Tor ne sshs
cost tue good tool-a gold currency1sxwill be no
greater at the outset tho coyrAsy n the first cost
OF silysef CURRENCY; while In all subse-
4ds,t reSsfecs the advantages nre UNNECESSARILY in
favor OF the gold. We have, furthermore, no embar-
RAISING antccedents In the OF our adoption OF the
hest mach merry OF trade We have an
amount silver in country, aud 1t would the
heght of folly TO adopt currency not receivable ny
the commercial countries with which we sustain the
intimate relations and Objectionable on the
and the changed condition oi tho
times. II we were overloaded aud crowded with u
deprecated silver currency We might decline to
abandon but having the opportunity TO start rcsh
and, wore from the beginning, II not clearly
the correct puoilc poHcy 70 auopt coin currency
suited to wants ana the aver Any way, 'the
OF the old silver dollar TO It's place lawful
money, without qualification or limitation" s s0me-
thing can't be legislation any more tnun
stage coaches and sailing vesses can be reestablished
their former place and employment by legislation.
l am, yours respectfully DAVID A. WELLS.
NORWICH Conn June, 1871
table. prepared for the writer by Mr. E.
Is. Elliott OF the United States Treasury Department.
represents the weights in pounds avoirdupos Of various
sums of United States silver coinsge:-
Weight in
Number Of PoMuis
UtNiurs. At0(rduiOs.
100. ACKNOWLEDGEMENTS. 55l
1000 5511
1uUOo ....................... 551 l6
10000 OBSERVATION-DISCLOSURES. 1,65347
.'Iul1A'