, 1879-08-14
HIGH GOLD AND LOW SILVER.

10 fAf EiHltof o. ihf 1faDAftk
RooRFoNp, ILL.,, Aug. 12.-John ). Knox,
Comptroller Of the Treasury, III bis recent
speech, says the United S.ates docs not possess
double standard because tic silver conugc is
limited to g. 00o, 600 per month. Now, II there
wns limit by Inv TO The colnnge Of silver terc
would still DO limit IN tho capacity Of the
tnints to coin, which does not exceed frosn
1000 coo to $40. .030, coo per month All the df-
ference, them It makes Ia IN the amount OF silver
coined, and two 0r three years must Of ncceiaItT
clapsc before sufficient silver could bo coined TO
take the place OF gold. He says, further:
.tlmmcdIatcly, upon tho passago oE the
proposed FREQ silver coinage We should pass
irun, gold to a silver atandard.''
Whatt With ono-tcnth OF tho amount OF
silver necessary for the use Of the people, could
nc pass from, gold to silver stant'ardf ls
the gold currency OF tho country sort Of vapor
tut will puck Itself up md set itself down tn
sono othus country without some equivalent
betuf paid for III is tie mlut value Of our guild
any greater in any other thnn IN our own coun-
trya II not, then gold will not leave our coun-
try. r!lo arguments used by Mr. Knox arc like
tlusc used Iii n Bcoo}boy's Grafton, and It
canuot be possible that they will haEo any
more influence before convention of bankcss.
Docs he not know TINT got nnd silver aro COM
moilitIcs until they are converted into lawful
,noucy by some country, through ttlcir mlnts Of
/ co!pagc7 Their value when they aro dug frum
tlp ni,cs Of the Garth Is the number Of pieces
OF tno,.sy they wilt mako per ounce. soubWhoFe
in this world, and this Is tho market these met
a!s SEEK Mr.. knor aiudes to paragruph In
troluccd in 1876 hGadcd, "The Silver Dollnr;
lis Discontiuunnco as d Standard." This
was tlrea years before the passaGo OF
| thu Inv 1t had no elect upon the
country m ~ ond passcd out Of memory. It
would not have been cons'deeco ~ tae
creditor class ary moro ttan the proposition to
reduce the standard sllycr doilar ~ le''!' oVef
which thcY had sug. tlnae,al aen1; a w.. eng i,
tje fractional silver coin so that 1t could be kept
tu circulation. ......'
4 sufficient answcr to Mr. Knox's long nre!1-
,ncrt, that the, sountrs must have hsen l 1aliy
s,,rnrsci tnat it had tione 10, aud itutne.
tlIatuly sought, by morn than q two
{S's I'd uass sio!y II yie to CONS 9os et the eonssy. IL
Ills "t ths pAe country Nv was detcse BY this sa.no
creditor class, nl.il whys because silver had bo-
come cheaper than gold It would bo easier 10 pay
the nexnrable action OF laws passed. against 1t.
Tle mtnts lad bopn closed ncai,,st it; its n.arkes
mad tccn cut oil. Now, Mr.. Knox ought to
know aud thoso bankers a. rv e
W. ~
IT Dnow he '"as world ID az a"t tho S value Il e"
md silver both, relatively to cnel, otllcr
| 'Fhn lnws Of those nations which control tit
market fnr these metals say TINT 151& OUNCES ol
silver shall o0lal ono ounce Of gold. Thts !.
thu ratio or yaIue fixed by tho law 0f nations,
all1 il il fo.lnJad upon tho amount oi tic two
inetaie produced from the mines OF the work
for a Iong period Of time Wh5 did tho rclatlyt
vnhln nj thpsc two metals change from this rntit
! in tlrir bullion focml Was 1t not hecaust thu
mws OF thcss ,,atinns closed their mfnts ae ains
ailyer 30 ns to cut oil lts markot, III
| lawful uarket1 1t hnB no ot1lrr market
, II hns no othcr uso TO amount to anything, OK
cont for n,pnoy. At thr present DIV gold ID uBes
1nnra largely In tho arts md stl Its prico Catl
mn yo nhnvn III mint value; neither can ellie
| ~ ia ,nc1ai. IN hnIow their mint yAue In prlc
~ Innw A. ths mtnta nro oprn to them and til
"rnmst nrot1urei in mi buyop(l their capacity +
s.,rte mn rnir,. hv which proccss both metal
naa. pnanr thn nrotacti0F nj The Inv fixing thci
, vai~c n" "'1s'
'"WeH- Krox IN . nuotation refortluy t
, ,.,tnn,o 4eAvr' s.vs ihc nrasrnt law authorize
t solurGH;; vi; a1o,ar mil and silver tiu
1.r so,m mi, dilYe,inr IN intrinsic ynlue
ut IT. nntI y rs,ea roa rs.,,v ortan frtnn tutrnai
!; nu tHs ~. M.st shso ~. ra,i'cr tI.C law al sntn
i ',t5an n.1fnna that ,,scd 4 JifYorcnt eundnr,
gs we .h"'t cr"o,.i th,s ,lit7eropco In YaIu,
~ ~ w., t.atsi.1 TheIr lawful stnndaru ,ya
n, ,,er 1 cnt ,nss tnn our iawfui staniard on I'll
uptr cens lsss LINN LINN ~. .a ma =. nnTs flr hi
yer, hhu 9ola auGat ue t esnu ts "a s,o fnreiT
yer bn1on souEht .g '.steo a'. ~ ,ro 1' Xviii IL
FL -. !, 2,t. tl,sn mr. iaws wnuld nliuw to l.
Il mndc ucr onmrr. We weru pattlpg again