Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1878-11-23
GOLD AND SILVER COIN.

The New York Gruphie OF the 18th
instant. referring to the insolent action
OF the national banks. in assuming to
annul tn, Silver Bill. publishes some
pertinent facts with regard to gold and
silver coin. We are not conscious"
a y the Graphic. "thst the national
banks were ever chartered to be the
special eonssrvstors Of gold aud deprs-
cistors Of silver. nor that the introduce
ton Of these coins should depend upon
them. Both gold and silver. by the
Constitution OF u country. N made
legal tenders, subject to Congressional
acts. Congress. by q large majority.
restored the silver dollar to its former
value. and 1t is now a lawful tender
without consent OF our banks. Is 1t
not q pertinent question to ask Of this
committee which has the greater in.
trinsic value. the silver or paper dollar 7
The latter Is only worth the paper 1t is
printed on. and has but q local value.
while the former has an intrinsic value
and purchaseabls power in every part Of
the world. even where gold Is not known.
Yet this committee seek to make over
$500, O0O. 900 OF paper. intrinsically
worthless. equal to par in gold, and do
preciate the value Of q few millions Of
silver dollars having an intrinsic aud
universal value. and. practically. are the
normal currency Of the world.
Between the years 1885 and 1873,
silver was in value from n to siA per
cent. above gold. During that period.
when both were lawful tenders. was 1t
deemed injustice to pay In gold. or was
the payment Of a debt in gold q "na-
tional humiliationi" Did 1t ever ocou
to the mind Of this committee that IL
there should spring mp . demand for
silver for the East. which may set in
at any day. there are no stocks OF
silver to draw from except q German
supply. which would soon DO exhausted.
and then the only resort would be the
iive-franc and the despised American
dollar. which must DO purchased at a
price above goldr Did 1t ever occur to
this committee that every silver dollar
coined at a cost OF So cents will soon
bring more than gold. as before the year
1892 Did II ever occur to this COM
mittee that IL would be . great bargain
for the country at large to part with its
gold and parchass with II cheap silver.
which would have to be repurchased in
gold ct advanced ratssi Did ii ever
occur to this committee that since the
year 1852 to the present time the
production Of gold to silver has
been as 500 OF gold to so Of silver.
and that this over.production Of gold
must Don tell upon its valuei Did II
ever occur to this committee that II gold
should ever pass through the same cru.
eial test as silver. aud the mints Of the
world should stop its coinage from over
production. that there would DO NO mar
ket value for gold bullion excepting the
small demand required for the artist'
Did IL ever occur to this committee that
the world could do without gold with far
less Inconvenience than silver1
We suspect that IL this committee
should ponder over some OF these ques.
tons, there would DO less talk about
national humiliation. injustice. obsta-
clss in the way Of resumption. conflict
Of the laws Of natural justice, etc. and
that possibly before long silver would
assume its normal value at a price above
gold"