National Republican. (Washington City (D.C.)) 1872-1888, 1878-02-14
Two Gold Arguments Answered.

attack of eacethes scribendi, even 10 the
golden point Of silence. ..
Two Gold Arguments Answered.
The cumbersome nature Of silver Il hardly
an argument against Its use. Practically, all
financial transactions in these days are done
through the medium Of paper A gentleman
in this city had occasion recently to purchase
a one thousand dollar four per cent. Govern
ment bond, for which only gold Is received.
He took to broker tho value Of a thousand
gold dollars in grecnbacks, and got-not
thousand gold dollars-but . gold certificate
for a thousand dollars. The Government agent
accepted this Of course, for its face value in
gold. Nominally the whole business was done
in gold, but in reality neither the buyer nor
the seller caught glimpse Of that precious
action paper is used where gold is the basis, no
great fears need be entertained that the cum.
borsome character Of silver will interfere with
its use rs the standard Of our currency. II re-
mains to consider the final and the only really
forcible objection to the reconciliation of sill
yer. We are told that as an article Of mer-
chandise the standard American dollar (4l2i
grains) is worth only ninety-two cents In the
London market, and that to force 1t upon our
creditors for hundred cents would be to cheat
them out Of eight cents on the dollar. But let
us see what we are doing every day. Our half
dollar is not half-dollar. 1t contains, instead
Of 206t grains, only 1872 grains. We coin 3S4
grains Of silver into two half dollars and
pass 1t for dollar. There Is said to be hun
dred millions Of 1t In circulation. II Is not q
legal tender for more than five dollars, and yet
the cheapest that II can be bought In large
quantities Is at ninety eight cents on the dol
lar. IL 3S4 grains Of silver gain 50 much In
value from being coined that Il Is worth in our
markets ninety-eight cents, what would be the
effect Of coming 412i srainsf That appears to
be simple question in arithmetic. And 1t Is
to be observed that Mr. DAVID A. WELLS, the
strongest and most intelligent advocate Of q
gold standard, while vigorously opposing sill
yer, freely admits that its reconciliation
would restore its full relative value as COM
pared with gold.-Utiea Observer.
We desire to say, in this connection, that
The REPUBLICAN, has advocated the remon-
etizing of silver for the reason that, in our
Judgment, the business interests of the
country have suffered materially from the
consequences Of its surreptitious demoneti-
zation. When the unit of coin value was
rendered a monopoly with gold it became q
commodity of commerce and speculation,
and ceased to perform the Office of factor
in our coin circulation, except by purchase
at q premium and at burdensome expense
to the purchaser. Heavy premiums having
been paid for gold under necessities created
by its monopoly in few hands; it be-
came matter of great importance to ali
the business interests of the country that
they should be emancipated from these en-
barrassments and burdens.
We saw but two ways by which relief
could come to the country through break
ing up of the gold traffic and monopoly
One was for the Government to issue its
paper promises to pay under law that
would make them legal tender at par for all
debts due itself and to individuals, in suffi-
cient amount to subserve the wants of bust
ness and trade-and the other to remonetize
silver, and thus secure bi-metallic coin
that should become equal in value, and re-
ceiyable at par for national and individual
debts. The silver measure was precipitated
upon the attention Of Congress in advance
of the other, and under sense of duty u
the public welfare we have advocated IT.
success, always subject to such condition.
as Congress, in its wisdom, might
impose upon it. We never have and never
shall advocate measure of reputation tC
the extent Of one penny Of our national oil
individual Indebtedness. We want a silver
dollar as part Of our coin supply, for the
reason that we desire to break dOYn the
monopoly and speculative character of gold
as a unit. But with this we contend fol
honest money, and if BLAND's bill does moi
! afford an honest dollar, worth one hundred
cents, then we say let it be so shaped that
it will secure that end. We discount the
opinions and prejudices of the advocates o.
purely gold standard of coin, for the reason
that it has done much to fatten the Golfer
and hamper the pride of that class at the
expense of the general business welfare o.
the country, and hence they naturally
desire its continuance. We do not plac,
much weight upon their argument,
and objections, for the reason that they cen
tire, we fear, too strongly in avarice and sci
fshness. History, during the period of de
monetization, has taught us that the peopl
who have been compelled to use gold hav,
been subject to q system Of grieyous taxa
ton to subservs their purposes.
1t is time that they were relieved of thes
burdens, and while resumption is deferre,
for nearly year, and there is no door of es
cape now offered except through the returl
to a bi-metallic coin standard, we mus
continue to advocate this as
source of deliverance from gol
appreciation = and speculation a
the expense of the people. Give the countr
an honest silver dollar and make it the peer
gold, and then its business interests vii
swing back into safe moorings, and ro
Of confidence, prosperity, and happiness wi
be entered upon by the American people
This is the only hope now presented fo
escape from the ills that beset tn
country, and at the hazard of calling dow
upon our efforts the most approbriou
epithets from the adversaries of silver, W
propose to champion the measure to the en-
of the chapter. The country needs hone'
relief, and we cannot advocate any other.
: Proposed District Government,
The bill for new form of government
this District, reported from the House Con
} mittee by Mr.. BLACKBURN, is a non-d
script. The present name is retained.
? triumvirate is provided for-one officer