The daily gazette., 1880-01-19

OF what we speak. And yet we believe
there has been much progress in sobriety.
THE SILVER DoLLAR-WHATI 1T DID
Nor DO, AND WHAT IT DID.-Mr. Price,
In the House OF Representative, January
18th, said :-"I have said, Mr.. Speaker, In
the preamble which offered, that the
coinage OF the silver dollar should be CON-
sidered as factor in estimating the pres
ent prosperous condition Of the country.
This silver dollar seems TO trouble great
many Of our would-be financiers. When
the bill for its resurrection (for 1t had been
dead and buried by Its enemies for several
years. was under consideration In this
House many persons Of all parties prophe-
sled that If 1t became q law the premium
on gold would be largely increased. The
funding OF the national debt In per cent.
bonds would cease, and resumption OF
specie payments would be very much en-
barrassed. and possibly embarrassed. and
possibly entirely defeated. These were
the arguments made and the reasons
given why the bill should not become q
law. l did not then, and do not now,
call in question the good motives or hon
est Intentions of the men who took this
ground. We who favored the passage OF
the bill contended that these things
would not only not happen. but that the
very reverse in every instance would be
the result. Now, Mr.. Speaker, we have
passed the point where mere opinion,
speculation, and theory were not guiding
stars. We no longer grope in darkness, or
even the twilight of uncertainty. The
silver bill became law. The silver dol
lars, that were said to contain more ene-
mics than the Trojan horse, have been
admitted within the gates OF commerce,
and yet no armed enemies have made
their appearance to destroy the commerce
OF the country. on the contrary, all the
business interests Of the country are In q
more q Jurii hing condition since than be-
fore the passage of the law. The premium
on gold instead of going up has gone
down out of sight. The funding of the
national debt in 4 per cent. bonds has
been carried forward more rapidly and
on better terms for the government than
ever before, and such is the credit OF the
Government since the silver dollar became
al phih VI lub biculum biht
there is serious talk of putting a 81 per
cent. bond on the market, and resumption
that was to be so much embarrassed by
the coinage of the silver dollar Is an as
sured fact Today beyond cavil or contro-
versy. In short, sir, every prediction
made by those who opposed the coinage
of the silver dollar has been proven by
the logic Of events TO be utterly without
foundation. What they were pleased 10
call solid arguments have proven to be as
'lnsubstantial as the baseless fabric OF q
vision
And yet, sir, notwithstanding all THU
formidable array of facts against them
the enemies of the silver dollar continue
to carp about the short dollar, the ligh;
dollar, the clipped dollar, and the snids
dollar. Some of these men now say, In
order to cover their retreat and maintaiI
a show OF consistency, that If we will pu
enough silver in 1t to make what th ey gr,
pleased to call an honest dollar they hav,
no objection to the silver dollar. Well
suppose we undertake to find out jus
how many grains Of silver at the bullion
valueis equal to the coined gold dollar
and suppose we succeed with the price @
bullion to-day. Tomorrow bullion goe
up or down in price; then we must chang
again; and so on from week TO week ant
month to month, until we should have a
many kinds OF dollars as there are month
in the year. But we are told that unles
we put more silver in the dollar II will b
the cheaper dollar, and will drive out tn
gold, and we will be left with an exclusiv
silver coin, and other nations will hay
al the gold. Now, Mr.. Speaker, this
mere theory, mere assertion. without on
solitary TACT to sustain IL. But, on th
contrary, all the facts OF history and q
the experience of nations are on the oths
, sld9. / assert, and challenge contradictio
, that our dollar has more silver In II, {
compared with the gold dollar, than u
dollar of any other nation on the glob
I unless we count Mexico and Spain. "
: give l6 of silver TO of gold, and other N,
E tlons do moi.
France gives l51@ of silver to one of gol,
which, OF course, makes their silver dc
lar cheaper dollar than ours, and v
I with l51x of silver to / of gold IL has n
driven the gold out OF France, for fI
E from the last report of the Director OF Of
I
Mint that France has s425 ,S44, $50 In silve
nearly all of which Is an unlimited tel
s der, and has also 1913, ,4co 600 of gold, ar
u in the last few years the gold OF Franc
If as find on examination Of carefully pr
pared statistical tables, instead of bell
driven out by the cheap silver dollar, h
: been increasing. Now, sir, If this prov
1t anything, 1t proves that instead of havil
l. too little we have too much silver In o
st dollar; and II these gentlemen who q
clamoring for increasing the weight
stopping the coinage of the silver doll
will look at the vol OF coin In O
g own country, they will find that we ha
10 more gold to-day than we had the day ,
. commenced to coin the silver dollar.
n the political and financial life OF this &c
ernment continues until IL is terminal
IL by suTfeit OF silver dollars, II will be /
ar oldest and most prosperous nation recol
ed in the annals OF time. Why, sir,
IA gentlemen who oppose the coinage Of /
q silver dollar under safe and wholesol
restrictions know whereof they affil
when they ask Tor legislation unfrienC
to IL? Have they coolly and Without d
le judice tested their statements by the 1
70 ures? imagine they have not.