The daily gazette., 1877-09-20
September 20, 1877

THE SILVER DOLLAR AND ORGANS OF
THE BRoKRRs.-All the newspapers
owned by brokers, bankers and large
hondholders are just now using all the
sophistry which their writers can develope
TO prevent the remonetization of silver
that is to prevent Congress repeating the
law which it passed in 1878 limiting sill
yer as legal tender to S.. II Congress
repeals . part of this clause and makes
silver legal tender to any amount as it
was before the war, we should then, no
doubt, be able in very brief time to ex-
change greenbacks for gold just as we
exchanged bank notes for gold before
the rebellion. The brokers and private
bankers are opposed to this;it will greatly
lessen their business, and equalize the
currency, thus stopping the trade in it to
great extent; or to an extent that would
hardly pay clerk hire.
1t is astonishing to see to what extent
the organs of the brokers 60 to keep
down the value of silver and elevate that
ofgold. They did the same when the
greenback was struggling up toward
gold but now they effect their purpose by
stigmatizing the silver dollar alone. The
wealthy brokers hold large interests in
nearly all the great city papers. Jav
Gould's organ the y. Y. Tribune, in a
long article denoLncins the remonetlzinc
of silver, gives circulation to the follow
ing which we extract from that paper of
yesterday.
"Germany Is waiting with very large
sum in silver. anxious for market in
which TO sell 1t. Attempts 10 sell else
where have pushed down the price rapid
". Though writers differ as 10 the
amount which Germany has for sale. no
one questions that il is much more than
the entire produc, of our mines for a
year. and the product must be sold at
any price
We don't believe that Germany has A
silver dollar to sell al a sacrifice: and we
do believe that the paragraph is bald lie
coined with the object to delude the peo-
pie and help the lobby in Congress. ANY
one who has silver is ready to sell it if
they can MAKE money by doing so. If
Germany has it and can sell it to advan.
tage she will do SO and she would sell
her surplus gold if advantageous terms
were offered. And this trade is going on
every day in California where the miners
make merchandise of both gold and sill
yer. We repeat Germany has not dol
lar ofsilver to sell lower than it is worth
in this country. That kind of talk
by the Tribune is bosh. If silver is so
cheap in Germany would not it be we'll
for the U. S. banks to buy it, and GO in
for its being made legal tendero Would
II not be good operation TO fill their
vaults with it and thus get ready for re-
sumption. The people do not refuse 10
take silver, if it is cheap. If Congress
will remonetize silver it will Immediately
become more valuable. Before the war
duties were paid in silver; and il the Gov
ernment were TO receive it now in paw
ment OF duties: or receive 50 per cent. in
silver and 90 per cent in gold, the silver
thus received could be put in circulation
by paying it cut for services rendered BY
officers and workmen. and to the army
any navy. 1t would not be refused: nor
would il decrease in value; on the con-
,-ary It would increase and assist also n
carry the greenbacks up TO par with
gold.