Lyon County times. [volume] (Silver City, Nev.) 1874-1907, 1877-02-07
THE SILVER QUESTION.

this week, tno nrBt since tuey scPa
rated in New York two months ago,
and that reports will likely be made
to Congress within ten days. 1t is
said majority and minority reports
will be submitted /; the former,
signed by Jones, Bogy. Willard.
Bland and Groesbeck, will strongly
favor the double standard. and will
recommend the passage of a bill by
Congress making silver full legal
tender for all public and private
debts except duties on imports. 1t
has not yet been decided what rela-
tive value Of gold and silver will be
recommended. The minority re-
port will be signed by Bowen,
Boutwell, and Gibson, but the points
of difference are not stated. Senator
Jones has taken particular pains to
ascertain the exact amount of silver
produced in this country, and his
investigations have been so thor
ough that his statistics will be re-
csived as correct, and it is thought
the report will SO fully cover all
relevant questions that it will take
prominence as q standard authority
among writer's and legislators on
finance throughout the world, as its
scope is by no means confined to
our own country, but worldwide
in research.
Nevada has reason to be proud of
Mr.. Jones. He has proved her
ablest Senator thus far-industri-
GUS, ever watchful Of her interests.
and possessed of ability to advance
them. and bis efforts in her behalf
are likely to result IN general bene-
ct to commerce not only in the
United States, but in Europe as
we'll. His great speech in the Sen
ate Was no. doubt prime cause in
checking the panic in silver, by
showing that there was no excessive
production Of that metal, and that
the decline was caused by demone-
tixing laws OF several governments
which would be righted by reverse
action and the needs of commerce.
To Senator Jones will be due in
large part any legislation favorable
to silver which may be had in Con-
gress, at this or future sessions.
Through his incessant labor we shall
have before Congress and the coun.
try the accurate information upon
which to base intelligent legislation,
and we may reasonably expect the
passage Of laws to fully protect
American interests, and at the same
time equitable to other nations.
We fully agree with our Senator
that the adoption of the double
standard. with legal tender condi-
ton extended to silver. is the
proper policy in the United States.
1t will give impetus and stability to
our mining industries and will be
the easiest, surest road to resump-
ton. The richest countries of
Europe have found an absolute
need Of silver in the ratio of 50 80
to each inhabitant. and the business
modes Of this country will require
an amount even greater when the
currency becomes metallic. The
full product of our mines for sew
sral years would be required to
make up this ratio, but it must not
be forgotten that commerce will
continue. IS heretofore, to take
from our shores largo part of our
product. And it should be remem-
bered, too, that our rapid increase
Of population will constantly aug
ment the total Of currency required.
Experience has shown that the
country is safer from panics when
the money of commerce is in suffi-
Gent volume than when much OF
the daily transactions are based
upon bank credits. When business
10 largely dependent upon the latter,
the failure Of single house may
cause the fabric to come tumbling
down. carrying widespread panic
and general loss to the community.
In establishing the relative value
Of the two metals We do not favor
the Bland bill, passed by the House
several weeks since. which We be.
lieve fxes the relation at sixteen to
one. That 10 rating silver higher
than do most nations with which