New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-11-05

laton and would in fact be known only to money
brokers and exchange dealers. -.
These metals are subject TO changes in their relative
value which render it dHcu II not llnposslDie, 70 70
tain for a considerable period OF tmc in any country,
the concurrent Of legaender coins OF both metals
liked ratio. IL double standard be adOptu oy u
country, one or the other OF the metals NM oi
payment 10 the exclusion OF the other The cheap ohey
worls tba c oe selected ior n heinz is the
cheaper will he taken the mint for coinage wbe me
other will be exported Condition as both metals may
change in greater or less periods OF time the double
standard may therefore, be properly termed al alternate
The greater the number, population and wealth Of the
countries adopting double standard on the same ra9
relative valuation IN their coinage, the greater would
be the probability or maintaining II until such system
shall have been adopted by number of the most ini0r
tant nations Of the world. The United states SHOULD
treat the question to be settled according 10 us
own situation and requirements.
After resumption Of specie payments reteemaDle II,
paper money Will constitute the greater portion OF
tH9 circulating medium, even II me WS ilgar
standard should prevail. such paper money VIII.
no doubt. Do used to much greater eA A.5
than would be the case under gold stahdir 81,
Tor The reason that given value IN silver ~ouI Do
about sixteen times as heavy as IN g9d, 9 bt pro
poruonatey announcement to handle ana on ta' nc
count far less desirable than paper money Inc
advantage AZ OF single gold standard, WIFI Win s tSe
double or alternate STANDARD OF gold anu siIyer WpG
to its present position in reference to the metallic money
standard change from the gold 10 the silver standard
oy the United states does not 10 be advocated D
any but the issuing Of silver dollar the old
basis or that Of relative valuation Of one TO fifteen aud
coinage, would probably place this country upon silver
standard for years 10 come.
The law OF March Is. 1869 TO nghen public credit,
ordered In positive terms all OF the existing money
obligations OF the United States to be payable in coin or
its equivalent. The word coin, used I'm this act,
must be understood to refer TO the coins OF the United
states OF the then existing conditions Of ucness, weight
value and legalender, and embracing the gold coins
OF 259iO grains, $40 fine. TO tho dollar;
and the silver dollar of 42ll2 grains and
Same nnenoss Referring to the act Of July ii,
1870 10 authorize the funding of the National debt he
strictly construed, the word coin 81 the present
standard value used IN this act, must De re-
garded meaning the fun legaltender coins,
which az tho time represented the money OF
account, that is, all the gold coins coined
at tie rate Of $3.50 grains 80 fine to the dollar,
and the silver dollar Of 4l2l3 grains OF the
same fneness. Payment OF the principal and
interest OF bonds issued under the act must
be IN gold coins containing 23I2lOO grains OF Inc
gold to the dollar silver dollar containing 37llf
grains fine silver The coinage OF silver dollars having
been discontinued by the Coinage Act Of 1873, ana
very limited portion ~ those coined prior to that year
having escaped the meltnSp payment OF the bonds
can be made only IN gold coins; unless coinage
such dollars with unlimited tender, should again be
authorized. In connection with this question, II should
be stated that for nearly thirty-siN years pre-
yl0us TO the passage OF the Reminding Act
gold had generally been recognized, particularly
Europe, actual money standard O this country,
silver dollar coin considered practically OBJ
sOcc Notwithstanding the option to the payment IN
gold coin or silver dollars given to the Government by
tied FOR on the gold basis and that 81
yer in the meantime, comparing itS commercial
value with that fixed by Law in the silver dollar, mas ma
trriay deprecated renders ~ douptfu 20 the
least whether the United state, could, with Justice pay
either principal its bond IN silver dollars.