The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1880-12-04
GENERAL PRESS REVIEW,
F,ture Policy of the Government I, 4as
: 90 the:CoinOSe of silver. --s'---

20 the:Coinage of silver -.-''---
r.=> s. New York Mail.
. tits ranorted from Washington that Presl
dent HAYES and Secretary Sherman VIII
mite in recommending to congress the adop'
zion of gold basis for the coinage OF silver
The Importance of the subject will attract
attention to the apparently authentic report,
and England, Germany and France will dis
cuss the policy foreshadowed almost as earn
es,ly as we of the United States. The coin
currency of the country tho first of the pres
ent month WAS reported by Controller Knox
as follows:
Gold coin. '''''''o2. i,5' 0E
Silver coin. lo2,ZZ' 'oo
The adoption of the proposed policy would
involve the recoinsge of the silver now In
circulation and in the treasury, and 1t IS be-
Ieyed that the change would overcome mueh
of the reluctance Of the people 10 use silver
dollars.
1t is evident that congress cannot delay ac-
ton concerning the currency OF the nallon
without seriously imperilling. great interests;
Although q large amount of silver has passed
from the treasury to the national banks DUR
ing the last year, and the banks nave sue,
ceeded in putting considerable amount OF
silver, not heretofore circulated, INTO the
hands Of the people, the fact remains thaI
the coinage of two million silver dollars u
month, which are worth much less than TWO
million gold dollars, and which many banks
refuse TO receive on deposit, threatens serious
embsrrassments in finance. II is believed
I'll. l.ll.
contain metal enough to give them the in
transic value Of gold dollars they would be
received so readily that the silver now held
by the treasury and the national DanRsWou
speedily pass into the hands Of the people
The paper currency less than So in denomi-
nation is now So follows;
Two-dollar notes"...,........,.....S2 l Joy 3d
One-dollar not ACKNOWLEDGEMENTS. 2l,4T4,sS
Should the silver dollars be madethe equa
Of gold dollars in intrinsic value, it Is proba
Die that these small legal tender notes coult
be withdrawn, silver displacing them
Neither England nor Germany issues pape
money Of less denomination than our No
and France has only about 81 600, 600 ofsuc
notes. To raise the standard of the sllye
dollar to gold basis will certainly much II
crease its circulation, and the displacemer
of the small notes will not be the measure
he extension. That the policy Presider
HAYES and Secretary Sherman are believe
o be about to present to congress Is WIS
he Evening Mail has no doubt 1t is we
20 have one measure Of value, just as it
hest TO have standard yardstick but it
not wise for the greatest silver.produeln
country on earth TO virtually exclude silvC
money fromits circulation; let silver be coine
az freely as gold, but, as Colonel lngerso
puts it, "let every silver dollar BIO worth
dollar in gold, if you have to make it fot
feet in diameter" The Evening Mail secs
The proposed policy n way for the nation OF
OF many embarrs;sments, and its adoptic
may soon simplify, hundredfold, the r
tirement of legal tender notes. The pap
currency, the first of the present month, W
as follows;
Legal ten er notes. ,....,.,,,...,., SjlO6ol,C
National bank notes. ..............., 2E,O0j,i
The increase Of silver coin the count
would permit, If not require, rs the result
the adoption of the gold basis, might ma
The retirement Of legal tenders progress wi
rapidity, and the issue Of silver certuicat
might increase to such an extent that t
greenbaCks would become extinct without
protest from the most fanatcal advocate
lat money. The adoption OF the gold ba
for silver coinage may be ~ achievemt
second only to the resumption OF specie pt
inents in the honor it will reflect upon
republican party.