Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1877-12-15

debts of all sorts; let the tariff
which il such burden to our COM
merce be thrown off; let the sense
less and obsolete navigation laws be
modified in unison with modern
progress, and the unexampled album
dance Of this years crops be allow
fair play in the markets OF the
world, and, our word for it, 1885,
600, 900 worth of silver will be the
reverse of an excess when thrown
into our circulating currency.
There is another error still at the
bottom of all this eroaking. 1t is
assumed that the present deprecia-
ton of silver as compared with gold |
is going to be permanent. We are
decidedly of an opposite opinion;
everything points in our estimation
to>a recovery of value in the silver
market. Many causes are at this
time contributing to the probability
of a rise in silver. The main de-
pressing agency has nearly done its
work-we mean the repeated chok-
ing of the market with the sale, in
the form of bullion, of that silver
which Germany 50 unwisely de-
monetized. A heavy demand for
silver must inevitable arise in In
dia, for the British government has
undertaken extensive irrigation
works there to guard against future
famines, the work on which Will
have to be performed by native
Hindoos. and all the millions spent
in their wages have to be paid IN
silver alone; even the fractional
currency we have been coming in
America has contributed something
to the appreciation of silver, and
lastly the near approach Of resump-
, ton in France. 1t is true that it is
at present contrary to existing ar
rangements with France and the
Latin League for silver to be coined
: in France and the other nations
t constituting the league, but Europe
= an financiers are confident that
: though France is at present the
2 largest holder of gold in Europe
] the task she has set herself of re
t deeming her Immense paper curren
CIV cannot be affected without calling
! in the aid of a silver coinage.
I The one obstacle to this anticipa
: ted rise in silver is perhaps ever
: more worthy of attention than tn,
: other points. We have been quot
T ing the above causes of appreciation
in silver from the London Econo
O mist. The same writer gives as
/ main obstacle to the rise in silver
u the actual rise in the value OF gol'
: which has occurred of late. In thi
); connexion he says:
|. HAs the price of silver is in great meas
n | ure the value it bears IN relation 10 gol
( | and as gold is not at this time tending 10 IA
O | in value the gold price of silver, IKE IN
rold nrice of cotton or tin or anything els
i | will In part be kept down by any enhance
| ment in the value of gold"
1t is now kept down by 1t; IN
= history of man does not record sue
- a frantic scramble for gold as nov
: exists in Europe, and will exis
throughout America if this natlo
should be so infatuated as to attemE
resumption in that metal alone
. 1879. 1t is certain that in that cas-
: all the nations of the world cannt
get the gold they want, and for thoS
W that fail, national bankruptcy is tt
~ necessary consequence. Mr.. Bou
X well found several years ago ho'
y impossible it was to draw gold
'e to this country when Europe an
y especially England had need Of i
q the obstacle would be n hundrf
i fold greater in 1879, and, if so, hel
!" is the place where the bankruptc
=, would occur; the whole world woul
~ in that case resemble the gold ROOF
y in Wall street in Sept. 1869, an
a the United States Governmel
ie would represent one of the firm
l. which failed to get the gold
:, needed.
IL We have dwelt upon this poll
he the more at length because wren v
es come to discuss the right and wror
III of reconciliation, this will
III of paramount importance. OurOW
ne conviction is that even now sllV
Oh is not seriously deprecated in pu
II chasing value in comparison WI
nc any other commodity except gOl
ne and only in comparison with tn
Oh on account of the terrible stringent
II of the gold market caused the ira
tic scramble for gold now going
III throughout the world; so that it
III more correct to say that gold is Gle
II than that silver is cheap. One
raj the effects of reconciliation, the
me- will be so far as it extends, to dimi
W. ish this pressure for gold and. we
81 the measure adopted by all natlOl
"u the pressure would be relaxed all
'"' gether; gold would come down
lse its normal price and silver won
ry' stand side by side with it at its O
ne average relation Of 1850.
Tee Our next paper will, we hol
lot close this long series. Its subIt
10 will be RECOMMENDATION in Gonna
ooo ton with resumption of specie pa
~ ments," and incidentally will
III ~! discussed "the right and wrong
RECOMMENDATION"
NY THE FALL OF PLEVNA.
tnS