Lyon County times. [volume] (Silver City, Nev.) 1874-1907, 1877-04-11
THE SILVER QUESTION.

Since We last wrote on this SUBJ
iect there has been q heavy decline
in silver. and this instability Of our
great staple, IL We may use the term,
Is doubtless initiating against the
proposed remonetising Of silver in
the United States. This condition
Is certainly discouraging. but we
hope the friends Of the measure
will not abate their efforts until this
desirable end is accomplished. We
think the disturbing influences that
have caused such violent fuctua-
tions will finally be removed by the
natural laws Of commerce when
once the artificial causes are sus-
pended. II il we'll known that the
disturbance in relative values has
been caused mainly by demonetiza-
ton of silver by some governments.
especially Germany, which would
not have occurred. perhaps, bat for
the plethora Of gold in that country
caused by the payment OF the large
indemnity from France. When
these influences cease we think
silver will again assume q compare
lively fixed value in commerce and
be q reliable medium Of exchange.
Tho opponents of demonstration
Gay 1.-THE United States cannot none
tize silver without falling q victim
70 Gresham's law, az France and
japan have none. II. for instance,
No should have silver with q nomi-
nal or legal value Of l6 to l in
weight Of gold, and its commercial
value in other countries fell below
that ratio, silver would be shipped
here and exchanged for its legal
equivalent Of gold. and tie country
drained, according to Gresbam's
law, Of the better money by the
worse. The reverse would be the
case if the commercial value OF
silver Wis greater than its nominal
value. At no time would the cur
rsncy rest tranquil except when the
commercial and nominal values OF
the two metals were equal, which
would, we may safely judge from
the past, sea. cely ever occur"
The statistics furnished by Sena-
tor Jones show that for long Pc
riod prior to the artificial disturb
ances, silver was almost without
fiuctuation. The causes which have
led to the decreased value Of silver
are wide in their scope. Depreci-
ated paper currency caused its
withdrawal from circulation and
decentralization in the United States,
and the same thing has occurred in
several European countries, notably
in Austria. Russia and Italy. But
it is fair to presume that those ma
tions, like ours. will recover from
their era Of irredeemable paper
and require large amount OF silver.
We think the period not very dis
tant when the double standard will
be practically in operation in most
countries. and we believe the people
Of the United States will run no
serious risk in its adoption al once.
We believe. however, that the
relative value Of silver to GOLD
should be fixed much lower than
has heretofore prevailed. II the
legal standard be fixed by statute
at fifteen to one, or even less. We
believe the people Of the United
States would be benefited. It
would be much better for us to
make our subsidiary coin Of stand
ard value with gold at the present
quotations, than to continue to mint
the deprecated coins now in use.
Give our silver coin commercial
value and there can be no loss by
the adoption Of the double standard.