Morning appeal. [volume] (Carson City, Nev.) 1877-1906, 1878-12-19
PAYING THE INTEREST OF THE PUB
Lie DEBT IN SILVER.


The following very interesting statement
concerning the relative positions of gold and
silvef coins comes in the press dispatches
from Washington under date of December II:
The Secretary Of the Treasury sent to the
Senate to-day communication in response to
the resolution of Beck, adopted on the Sd in
slant, regarding silver coin. The Secretary
transmits the report made to him on the sub
ject by the Treasurer, and adds under the ex
isting law either gold coin or standard silver
dollars may be used in payment of interest on
the public debt The law does not direct
which shall be paid, but leaves this to the dis
cretion of the department. to be exercised
upon considerations of public policy, and the
practice of allowing public creditor the op-
ton to form and denominate the money III
which he shall be paid has been observed.
The manifest object Of the Act to authorize
the coinage of the silver dollar and restore i
legal tender character, when construed in con
nection with the Resumption Act, is that gold
coins and standard silver dollars shall be
maintained at par with each other, and this
object can best be obtained by paying out
such coin as may subserve the convenience of
the person to be paid and not to force upon
him either form of money. Any other course
would discriminate against the standard silver
GilGllan, in his report, says no distinction has
ever been made between gold and silver
moneys in the Treasurers general CON &C
counts The total receipts of standard silver
dollars from the first of July last to Novem-
Der 50 were s. 17S, 1851, 800, 900 being on
account of customs. These figures do not
cover silver certificates. The Treasurer has
exchanged standard silver dollars with the
public for gold coin to the amount of 81 ,534,
785. The coin interest paid during the cur
rent fiscal year amounts to 500, :45 ,224. Silver
coins received during the current fiscal year
have not been specifically applied 20 the pay
ment of interest upon bonds and notes Of the
United States, except SO far as fractional sill
yer received has been used in disbursements
for coin interest in making payments Of frac-
tional parts of dollars.
This, then is the full vindcaticn of the
silver movement so ably chameioned by Sena-
tor Jones. Indeed, the silver certificates are
st once epitome of that measure and ali
answer to all arguments against it. ''This
certificate, says an authorized line upon the
back of one OF these beautiful devices, sis
receivable for customs, interest upon the
public debt and all moneys due the Govern
rnent, and when so received may be reissued."
That makes silver as good as gold. Also the
authority to reissue the note practically
doubles the amount of silver on deposit in
the vsults of the Government. All this |
shows not only what one clear headed man |
can do by persistent and intelligentiy- directed
sffort, but it illustrates how utterly baseless |
are all the sophistries of the gold rings, and |
hOpr t3St wa q ia mt his kiISIn
world when silver was demonetizcd. 1t is
assuring TO know that Mr. Secretary Sherman
~ sclictous to have il known and understood |
by the Senate that he il carrying out, and not
evadiug, the provisions Of the Silver Bill.
The zeal displayed by Mr.. Director Under
man i'll behalf of the single standard, led the
public to suspect that he was slmply obey ing
the orders of his superior. Whether he was
80 doing or no, the fact Gf it be fact that
that gentleman is about to be retired from
his position of Mint Master General would
seem to indicate that he was going to receive
the penalty of disobedient officer, or, what's
Just bad if not as inevitable, the reward
Of a scapesoat. At all events DIR, Sherman
has descended from his high horse and come
to accept with such grace he may command
the situation az it is presented to himself and
the country. In all probability, Congress
~ill, when it has got through talking politics,
Or, what's more probable, taken time to
breathe between bouts, pass some measures
which will still further do justice to the cause
IF silver and promote fair dealing i'll behalf
Of the producer of that metal.