Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1878-01-06
rruE SILVER QUESTION.

THE SILVER QUESTION.
Representative Price. of Iowa. having
been attacked by the Hawkeye for vet
ing for the Bland Silver bill, writes
that journal in reply a most able letter.
We do not believe we can devote our
space to a better purpose than by Civ
ing his views in full. They are as
follows:
WASHINGTON. Nov. 10, 1877.
Editor Hawkeye: In your issue of
the 18th instant you express some sur
prise that / should vote for the silver
bill. Will you allow me to say that
you cannot he more surprised at my
support of the bill than l am at your
opposition. 1t was but reasonable to
ex pect sumo opposition from the specu-
lalurs, adventures, stock jobhers and
gold gamblers of the Atlantic cities,
and from English capitalists who seek
to regulate affairs for us on this side at
the ocean, but it never occurred to me
any one outside Of such influences
could he found to oppose the circula
ton of honest silver dollars. II this
was an experiment; If it was some
thing new, something that rested alone
on mems opinions supported only by
theory, there would be ground for dit
ference of opinion. But this is not the
case. For nearly the entire life Of this
nation silver has not only been An i'm
portant part of our money, but has
been u legal tender for debts, public
and private. By some maneuvering,
by interested parties, never yet fully
and satisfactorily OK planned, silver was
q few years ago dropped ont of The
coinage, and thereby demonetized
Why this was done remains, 10 some
extent, = mystery, unless it WAS to give
the b~ondholders the power to say, you
must pay us in gold, a thing, by the
way, which we never agreed to do.
What we did agree to do was to pay
in coin, aud silver was then coin. /
propose to do exactly as we agreed
to. l am not one of those. who de-
nounce the bondholders. On the con
trary | believe those OF them who are
in this country deserve a great deal of
credit for putting their money into
those bonds when the Government
needed ii. / am for keeping the con
tract with them and all others TO the
very letter. They shall have every
ounce OF their pound OF flesh but not
one drop OF blood. The bondholders,
I presume. are as good as any class OF
our citizens, but they are no better.
Bondl olders and gold gamblers in
Wall street may not like to take silver
in payment of debts due them, but /
have yet to learn that the farmers. me-
chanics and laboring men are opposed
to it. If you will find me one man
who has too much silver, / will find
you len thousand who Have not
enough. You say it will retard re-
sumption; l beg leave TO differ with
you. The reconciliation of silver will
do more To aid RESUMPTION than anv
other one thing. First, because it will
increase our ability to esume. IF VT
have 500, O0G, 900 in gold and 500, OO0,.
600 in silver, making 5000. OOO, 900, we
are certainly in better condition to re.
sumo than If we had only S20O. OOO, 900.
Second, we must have some kind Of
in small denominations to
circulate among the people, both rich
and poor Now we have $40. 900 900 OF
dollar bills in circulation, and il
YOU will ask the bankers in your town.
or any other town in Iowa, they will
tell you that they are troubled to fur.
nisjl their customers with change.
The silver, which is called .'subsi
daryl and the small bills do not sup
ply the demand. Ii this il not SO la
burlington, then Burlington il an ex
ception to the rule. When resumption
takes place these $40. 900, 900 of small
bills will, like the other Government
notes, be retired, leaving nothing
In their place. You will not say
that gold dollars will supply
the place because you know that
gold dollar pieces found to be so in
convenient that the coinage Of one dol
lar gold pieces has been stopped. But
You are troubled In common with
many other good men, with the fear
that these ell yer dollars will be an in
ferior currency. Allow me to ask you,