Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1877-06-12
rELEcRAPHIc.
TELE
The Financial Theories Of
Secretary Sherman.
Ne BELIEVES IN A DOUBLE
STANDARD.
President Hayes Views on
Civil Appointments.
Additional Particulars or the
Chisholm Tragedy.
PENNSYLVANIA COAL MINES ON
PENNSYLVANIA COAL MINES On
FIRE.

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PENNSYLVANIA COAL MINES ON
Isrsc,AL p,sr,rruss To rux Coin Hill
DN.r Nrws
Secretary shermnn's Views on
Finance.
CHICAGO, June H. SECRETARY Sherman
furnishe. the Tir;Ln.s'. Washington cor
respondent with a statement Of his finan-
ciai policy. Of which the following Is the
substance: Tho silver question has two
extremes, equally threatening and plansi'
lie. One represented In the East aud the
other in the West. The disputes will re-
suit in = refreshing shower Of silver to re-
place paper and facilitate resumption In
both gold and silver. To compel creditors
TO take silver coin for all debts. when 1t Is
ten per cent. below gold now. would inn
mediaiely dspreciats the purchasing
power u . dollar five per cent. below gold;
would utterly destroy public credit, stop
our funding operations which are rednc-
ing eur public debt, drive from the
country all gold and leave ns with what
onr silver friends so mnch d~enounce-s
single standard Of silver bullion. Good
sense reveals the results OF this doctrine.
Tho other extreme opinion would to
moralizs silver. which Is absolutely s-sen-
tial for the daily want I; which IL the coin
more universally used by mankind than
any other, and in which the rich and the
poor are alike interested. The free use oil
both metals are convertible into each other
and both equal tho current value OF the
genuine. The bi.metAlic standard OF value
i assumed by the gold monometAlist to
lie impossible In the face u the Tact that
gold cannot be- divided 80 as In meet one
IL the hundred daily wants Of life. Both
these extreme opinions will assnretlly be
Abandoned eventually. 10 IL an old dis
pute. which tho Government has always
adjusted by issuing both metals a. coin
and maintaining them equal, at Q liked
rate, by limiting the amount u issues.
Metal NOR. valuable. In the market than
its legal ratio must he limited in its issue.
leaving the absolute need ~ u tn fix the
AMOUNT. In our country, whero We afc
struggling to make our paper money EQUAL
10 coin, We are happily In aconlition to do
this easily ani with profit 10 the Govern
ment. The way Is to issue silver coin
whenever demanded. the smaller coin be-
ing exchanged for either fractional paper
money or United States notes. which may
then IT, retired. Silver coins have already
.uperseded the body of fractional curren-
CIV. aud they are a legal tender To the same
extent. Let the Government buy the sill
yer bullion at what II IL worth. coin silver
dollars aud issue them freely to everybody
who will surrender u paper dollar. This
l. q fair and voluntary exchange. A sill
yer dollar ought IN b. received by tho Gov
eminent and made legal tender precisely
A. the paper dollar. In this way perhaps
81. 900. 200 silver dollars will supersede
50, 900. 100 paper dollars, more or less:
This process will bring both paper u
silver nearer and ncar,r Ia the stand.
point Of gold AMI will soon bring all
our money Ia the same value. We
will then have paper money sup.
ported by the public credit, with gold AMI
silver coin Ina abundance. 20 tlist livery
man who has either his labor or prodnc-
tons tn sell can have either Kind OF money
and ali u the same value, and according
she ~.n's 49, 49, tor iorrirn rx.
change. he will take paper. silver or gold;
Thi. will make all interchangeable. and
make geld the ultimate standard. II would
doubtless he better u gold snd silver eon
have an International put WIS y
now impraeticable. We may use shNcr
alone. a. china docs, anu plenty W run
tries are really 10 take All tho soiu W. nav.
We cannot afford to buy and sell IN 'he
world at the gold standard and compete
with them. nor can We deny ourselves tue
great convenience OF an ample silver cur
rency just equal to gold by c"nhhins IL
issue To the actual demand ior u. We AZ.
now so near the uniform gu All
kinds Of money thai nave 700 mucn con,
ndence IN the shrewuhtss ., our P.oP,e
70 peie's 'ha' '"'y WI" ''"' a""P 1851"
wari' r-.v.
W~,sriNoroS' Junei2'-A i'''ef r'se,'eu
at the TS-,. bureau dated Jackson. Miss,
lima ctb. avs "Jnjye Lee, Unitnl States
49,. D.. ,, ,,s,,,., In ~hi.h
pts''''' N''o'"'' '" 49,
occurred the Chisholm ma'saere' has eon"'
menc,l an investigation into the tragedy.
J,dee Lee left Jackson for Meridian, June
al. :. - VII. ,na Mr.. uo,.om.
.m. "s,, 90,
weiis Us Iu'iy a'Iuanpu 49,, lii
III, Chisholm family from the time of the
tragedy to the death Of Miss Chisholm. In
his letter our correspondent SAYS, rom A.
you ~ go! =, ,h., ,,,cir sahI,a,i
n'ue W y .hi,h, ;namaIi.