The Hillsdale standard. [volume] (Hillsdale, Mich.) 1851-1909, 1878-09-17

Ia iican party will not lower. woul
m rather stand under il with the true 10,
e aiist OF the south, black and Door. an
|. Ignorant though most of them may be
v anu suffer defeat, then march TO victor
Dy striking IL and abandoning them
v a government which will not do its nj
4 most to accomplish what this resolu
Q tion proposes. is unworthy OF suppor
and unfit to live. Do right and oh
; serve Justice, is the simple aud effec
! tive rule OF pacification which the Re
, publican party prescribes to the south
To R'e Editor Of he DAILY Ne,gs.
In your criticism of my letter pub.
ilshed IN your paper of the 9th inst.
You say
I'VE publish communication In anothe,
column concerning the Silver Dollar In
which the writer rciterates that such a coin n
worm but IS cents lu his effort 10 answer
the Inquiry which he had previously mad.
ne shows that la Canada. and ia iternatlonal
isl iansaelons, silver is not equal TO gold Very
hkey but a most OF Us do not spend our
money Ia Canada or In Europe, the state
ment - no reply TO the original Question."
But Is not that dollar worth the most
which does all q dollar is intended 60
dop Is not money q machine designed
TO do particular work? and. like all
other machines. is not that form worth
the most which does its work in the
best manner, with the least friction aud
the greatest economy? You claim thar
the silver dollar is worth as much as
the gold dollar because 1t will exchange
Tor as much In the home retail market.
but 30 Will two half dollars, four quar-.
ters, or ten dimes, confessedly only
token CONS, and vsluable only within
certain limits.
Now L claim that the work which the
money OF this country is intended 70
do, is:
Ito facilitate exchanges between
our ovn citizens.
second, and equally important.
10 fsciliate exchanges between our citi-
zeos and those of foreign countries.
10 sustain this last proposition il is
only necessary To- refer TO the enor.
nous amount OF the exchanges which /
actually take place between this and 4
foreign countries, as shown by our ex.
ports and imports; and To the great de-
sire to extend the foreign market for
our manufactures; ond to the great 40.
gregate OF government, municipal. cor
poration and private debts owed bv Us
TO foreigners, the principal aud inter
est OF which rust be paid by commod-
ities sent from home. Money facili-
tates these exchanges by acting as
iaedIum OF exchange, and a regulator
OF prices, and by supplying unit OF
price or common denominator of
values" and standard Of deferred
payments" and by being convenient
medium for the payment Of foreign
iebts and adverse balances Of trade.
The essential qualities which enable !
money TO DO this work s.e: 1
stability OF vsl1e or purchasing !
Dower. Z
2.-Universsi currency. or aouoI !
'alue IN all civilized and commercial
!
Nov compare the gold and silver 5
iehars, and see which IL the best fitted i
or the work our dollar has to do. /
Told is more constant in yalue {
han silver. This is shown by the con. y
taut fluctuations OF the gold price of &
ilver ia the London market. and il n
annot he said these fluctuations are b
ne IA whole or Ia part 20 changes IN q
lac value OF gold, for If they were the y
old prices OF Rll other commodities q
'ould change in the same way: but q
hey do not. h
2:-tsold Is current in England. | d
rance, Germany and all commercial
Duntries; silver, except as token ! q
oinage, is current only an the Latin nj
aud the Asiatic Conn. nj
les; but ia France aud the other -
nropean Countries, the coinage of te
liver IL limited while that OF gold ~ v,
nlmited so that even there the gold -
)liar Will be current while the SILVER N
10 VIII not As TO the Asiatic conn. II
les, commerce is carried on with them WI
Oils OF exchange drawn on Enpland VI
nlch must be paid for in golS--and af
Trade Dollars, so that the standard ia
Iver dollar cannot fnd an outlet no
ere:- =
3:-In large transactions at home :, bo
NOT as good n medium of exchange wi
eoioI because ITS weight makes il 10
ere uiihcult and expensive 10 store TO
Il transport: m,
i:-Erices being at present adapted th,
enc gold unit, change 10 the silver inl
~ Will necessitste an entire change be-
prices, and tho silver unit when II
opted will be great damage TO ste
de owing to Us liability to factuate cat
value. are
The adoption Of the silver stand. adj,
oil deferred payments will work a La
at hardship to creditors whose debts not
hot come due for one two wears. viz. vor
time enough for prices TO be adapt. to
10 the new unit; aud also to such IL il
ditors as are indebted 10 foreigners. saw
ON they must pay with gold, pur. cy
SEQ nt a premium with the silver VIII,
4 them. uas
q iact IN only one field il the silvAr is n
lar worth as much as the gold one zen
that ~ for use IS token cei-. - | Mic
nj purchases: To This fieli Seorn- mar
ohermap - trying 70 eeulate II pro
ssaing " IN exchange for the one wei
Two dollar dotes. hon
ne Civilization of no,n,.v :. mar
'sured by the facility and pcorooS sbo
which the producer and the con. infe
Ter can De brought together. They you
Drought together through the in. ion.
mentality OF money and nothing you
'ei0re can be OF greater Importance bell
= tnan That we should have the best anoi
icy nttainablo. At the present time ed 1
pontlcians are debating the oues. desi
:. what shall we use for moneyp mist
az Silver or Fiat pAper?" twill pie
,sbiy be tho most important issue and
Ine fall campaign and some of the tbeii
y genuemen now ia Newport who win
.ne'led = 0V 70 speak with authority on ocra
,Ions Ai.' oil finance, will do their fel. theii
service II they will devote lette
OF their leisure time 10 making 1t
ugh your columns, clear state' the I
ts OF the principles which sbopId proy
rol us IN deciding the great ones. Bib
what shall we use for moneyS- is wi
'P''' "e"s' RN.r that
Ae
act.
at.tee IN trglanA. - A