The Wichita city eagle. [volume] (Wichita, Kan.) 1872-1883, 1878-01-10
The Silver Dollar and it's Valus.

The Hon. Hiram Price, father-in-
law of Judge Dillien, and one of the
ablcst men of iowa, has been called
out upon the silver question. He
writes to the Davenport Gazette, and
we make the following extracts:
Do the men who oppose the remon-
citation of and coinage of the silver
dollar, and making it legal tender
in the payment of debts as it was for
nearly the entire life OF the Nation,
know that we have to-day III circula-
ton nearls forty millions of dollars of
silver that have in them only 335
grains, and that this dollar of 385
grains is at Ear with legal tender
notes and consequently worth little
over uinety-seven cents in gold ? And
do they know that the demand for it
is so great that the Secretary Of the
Treasury says we must have more of
it to meet the demands of the business
of the country? Now q few figures
in the single rule of three will satisfy
any one who is willing to be convinc-
ed that if 3S5 grains OF standard silver
are worth ninety-scven cents in gold
or 100 cents in legal tenders, that
4l2 1-2 grains of the same kind of sill
yer are worth, when coined, 103 90
cents III gold, or 107 lilo in legal ten
ders. And this view of the case is
strengthened by the fact that prior to
1873, when it was dropped out of the
coinage, the silver dollar of 412 1-2
grains sustained about that relation
to the gold dollar, sometimes running
up as high as 100 is. If to pay debts
with that kind of money be TO 10 cheat
the creditors, then | want every man
who owes me anything to cheat me in
that way. But, say some people, the
poor man, the farmer, mechanic and
day laborers, will be cheated if we
paw them in silver. | ask these men
who use this kind ofargument wheth-
er we are not paying these men now
with silver III each dollar of which
there are only 3S5 grains of standard
silver? And now because it is pro-
posed to put 4l2 1-2 grains of the same
kind of silver in the dollar with which
to pay them, the charge is made that
the poo man will be cheated.
As the case stands now the bond
holder gets gold Tor what is due him,
and the farmers. mechanics and day
laborers take their pay in paper, or in
sive, of light weight. What the adj
vocates of the silver dollar propose is
to make a silver dollar that was al
ways, while it was coined, as good as
gold dollar, and to pay all kinds of
debts with it, unless a -special con-
tract has been made TO the contrary
This puts all men on an equality,
treats all, whether rich or poor, alike.
This is eyen-handed justice, and 10
amount of sophistry can get around
it. Ii you know of any person who
CLAIMS that the silver dollar of 412 l-2
grains win only be. worth ninety-two
cents on the dollar Of gold, and is will
ling TO sell at ninetysix, please let
me know. | think | can find him a
purchaser, and If he can make four
per cent. he can ''put money in his
purse" Any man who says an article !
is only worth ninety-two cents and |
refuses TO sell at ninety-s six proves
either his insincerity or that he has
no faith in his own judgment.
Some of the very countries that are
now crying down silver and attempt
ing to demonetize it, did the same
thing with gold no longer ago than
1916. Then silver was the object of |
their praises, and gold of their denhn-
citation.
Now the tune is changed, and silver
is denounced and gold is worshipped.
If we are wise we will use both these |
metals as money to keep alive our
and to furnish basis for |
our paper currency. For when we |
have all the gold and silver we can
get, nine-tenths of all the business of |
the country must be done with paper
in the shape of bank issues, or Gov
issues, or checks, drafts aud
bills of exchange,
Paper, if you please, furnishes the
sails for our commerce, and the pre-
;ious metals the ballast. If the sails
ire out of proportion to the ballast,
we will capsize. The more ballast
we have the more sail we can spread
% the breeze-and consequently the
more rapid and prosperous will be the
yoyage of our ship of state.