Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1878-12-05

GOLD kGNASI
The silver editor should reflect upon the
fact that remonetization has not increased
the price Of silver. as he predicted 1t would,
before he auiter annihilates the obnoxious
gold bug. Is he sure the S5-cent dollar
won't be a 75cent one in another three
months?-N. Y. Tribune.
The 1900, 900 or moro a month Of silver
dollar coined since the adjournment Of
Congress lie rusting in the Treasury
vauIts. despite every effort Of the Depart
meut 10 infect it into circulation. 1t draws
po.intcrest. 1t cannot be paid for Govern
usnt liabilities without breaking down the
National credit. Buffalo Express.
This seems as much like lunacy as any
thing that ever appears in any newspaper:
The idea Of silver trusting" is unique, but
the affection Of 20, 900, 900 Of silver dollars
rusting in the Treasury vaults is Offset by
the awful spectacle Of $3.50. oo0. 900 of gold
growing mouldy and widowed in that
same receptacle, and defying the most
Herculean efforts Of Secretary Sherman to
force it into circulation. Yet, as the gold
is needed as much as the silver as a pledge
Of National solvency and a redemption of
greenbacks, it cannot perhaps be said to be
absolutely worthless. And let the Buffalo
Express watch very sharply and see if the
National credit breaks down when lin
thirty days, silver dollars are paid out for
Government liabilities to men who will
prefer them to gold.
The Tribune's criticism needs a different
answer. 1t is this: There is no assurance
whatever that s'the S5-cent dollar" may
not, in its bullion value, still further de-
cline, unless free coinage of silver is de-
creed by Congress. If the Tribune would
d a minute to think, it would see how
the matter stands. Why is the bullion
contained in q silver dollar now worth
only s. cents in gold? 1t was worth 103
cents in gold only six years ago. What
has caused this fall? Plainly German de-
monetization, and nothing else. There is
nearly So, 900, 900, 900 worth Of silver in
use in the world. OF this ST. 600, 900, 900
are in use as money. Germany suddenly
decreed that one-sixth Of this, oil $3.50, 0o0,-
900, should no longer be used as money :
decoined ii, and drove itinto the arts-tbis
for the avowed purpose Of increasing the
value Of gold, of which she had received .
vast sum from conquered France. Silver
went down instantly under the blow, be-
cause its most important function was
crippled and partially destroyed. Now, il
some nation like France or Germany should
decoin gold-decree that it should no
longer be used as money within the realm
-all the gold in the world would instantly
fall ten or fifteen per cent. in value, be-
cause the demand for it would be dimin-
ished, and gold and silver would then be
worth the same, Or, if any great nation
should coin as much silver as Germany
deccined-say $500. 900, 000-t that act would
instantly raise the price Of silver bullion to
par with gold bullion. Nay, more; if such
. nation should express her intention to
coin that amount Of silver, the effect would
be the same-the profit would be dis
counted in advance, and silver bullion
would at once rise to par in gold.
The United States has the power to do
Just this. Being one Of the nations that
degraded silver, and being herself the
producer Of silver from ore, she
ought to do it. Who would lose
by such . policy? Congress passes a law
offering : dollar to every man who will
bring TO the Treasury 4l2k grains Of sill
YER. That silver can now be bought for
IS cents, but any broker or banker can see
that II would instantly spring to n dollar
al over the world on the passage Of such a
law. The holder Of the bullion would
make Is cents on o dollar. So much is
But who would lose? Silver and
gold would be at par the world over.
Would anybody losea II the supply of
silver we're unlimited, like air and water,
IL anybody could as cheaply add to the
product rs to the product Of wheat or
crockery or wooden-ware, the United
States might sbe bankrupted by such an
offer. But there is no possibility Of the
least embarrassment. The amount Of sill
yer in the world would not be materially
increased. Europe has not $40. DOC, 900
worth TO sell us. and the demand Of Asia
b incessant and insatiate.
-s ---
BONANZA HOMES.
It appears that some Of the bonanza
kings are going to eclipse the castles Of the
railroad magnates on Mob Hill. The
Lyon county Times has the following:
~. G. Flood and J. G.. Fair, two Of the
members Of the bonanza firm, have given
. contract for grading their lots on Mob
Hill. in San Francisco, preparatory to the
erection thereon Of mansions that will
eclipse anything on the coast in that line.
When the work Of building the mansions
y fairly commenced, 800 men and 10 teams
will BE- kept in employment for about .
year. A. the class Of labor employed will
BE- Of that known as skilled the wages
paid will be from 81 to So per day. The
example thus set by the gentlemen Of the
bonanxa firm IL worthy of imitation. More
and better houses should be built by the
Wealkhy men Of the coast, and q demand
fpg skilled labor thus created which would
60 far toward allaying the discomfort now
existing among the laboring classes. Were
every laboripg man who il willing to earn
m honest living to be given employment
- fair wages, ct least just cause for
discontent would be removed. and all
classes Of the community would find it to
their interest to smooth over the obstacles
In the way Of . perfect understanding be-
tween the workingmen and the capitalists,
between capital and labor
The leading dailies have published a
pretty fair synopsis Of the Presidents
message. II is not a marvellous document
lin fact. II Il . very commonplace one.