Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1880-12-30
More Silver In the Dollar.
ISsn Francis o Bulletin |

,hs silver dollar. Secretary Sherman has
,ecOm mended that more silver should be
mi into the silver dollar, in order that il
NAV become In tact the equivalent OF the
cold dollar The President, in his mess.
AGE, indorses the suggestion of the Score.
t,ry. The dollar which is now being
colnld contains 4l2h grains OF 900 ioe
silver. III is coined Ia the ratio of Is sSS
grains OF silver to one gram OF gold Fne
average bullion value according 10 the
Pres dent, OF this dolial during the past
year, has been oS1a cents Nhe year before
The coinage OF Inc dolla the ave, age
value rao from 80 TO % cents. Two mill.
lons OF dollars or thereabouts are now
being coined Ut these pieces each month,
under the present laws OF Congress But
they do not go into circulation as last as
they are iurned out by any means, though
Of ate very considerable Improvement
in MS particular is observable.
Tie ld,a OF the Secretary and of the
President Is that II more silver were put
10 the dollar, 80 as to make it the eQuiva
lent OF goid, all obstacles to the clrculs
ton OF ,ul5 coin would be removed The
exact amount OF the additional silver TO
be put IN to make 1t OF equal value with
gold involves pice calculation. A 4SO
gr. 800 tine dollar would be par at 5000
Tor 925 (the English alloy fine silver. But
silver has hactuated very nsGerably
As the result OF German dtmonetizstion.
IL went from 6O1a the ounce to 46j. The
par OF the ARA or. dollar is 59i the
ounce. Previous 10 German demuueiiza-
ton, II We nad any 4121a gr. dollars in
circulation they would nave been at once
shipped out OF the country, for they were
then worm 81 Oh But since the violent
fuctunuoo, ~ which reference has been
made, silver has become more steady.
The avtrsRe Tor the year last past has
been Il /, which made The average val.
ne OF In, 4l21a or dollar as stated by the
PEesld, mt, oo1ac.
The oitiio.l which has 10 be enc0un.
tered in utung more silver in the dollar
is this: Ii we take 524d, the average
bullion value of 1880, ss the basis, and
put silver enough INTO the dollar TO m AXE
1t The equivalent OF the gold dollar, and
fsllver suoul0 rise above the rate stated
113d., Hour dollars would at once tie
snIpped out OF the country as fast as they
could De gathered. An increase of 1Hd
about 3 cen,s-would be sufficient TO
bear the expense OF freight and make a
percentage the transaction. There has
been more variation than that In the
value OF silver during the past year. This
is q possibility which should not be left
out OF consideration. 1t may be stated
concisely IS follows: Ii we increase the
silver lii the silver dollar on the basis of
524 10 tue ounce, SO as to make the
silver dollar equal 10 the gold dollar. An
increase IN the value OF silver from 524 |
to 5334 per ounce would deprive US VI
The saver dollar as q Gil Culallng medium.
Tuis was what happened to the dollars of
the ialhers wien they were first put in
crGulatlon. When they were worth 81 90
they disappeared rs II Oy magic.
Persons VINO have made finance a close
study hold that We should take no steps
! in This matter until an understanding has
been reached with Feance. This country
sld France now occupy the same tinsn-
chl position Both ale repared 10 set
up the double standard the moment the
opportunity presents itself Both al this
moment are using silver Ms token money.
The two nations acting together Can re-
Store silver pretty much 10 lis old place.
france tor long time was enabled to do
THIS alone. 1t was Ony when Germany
demonetz2d SILVER that she abaud med
The functions OF maintaining the tqulpolse
OF the metals. France and the United
States can do the same to,day wlhou.
much regard 10 what course either Eus
!and or Germany may pursue. The Pres
luenl shows very clearly that constitution
any We must have gold and silver IN the
united States as the circulating medium.
EhglaLd, bong creditor nation, Will
SUCK as long as she can to the single
standard OF gold But she will not make
snythlDg by II II France ard the United
states should unite 10 keep silver II IT'S
pace. Ia That event it might be necesss
y 10 put some more silver IN the DOLL r
CUT not much. A grain or two grams IN
'he rallo might be oil tina, would be re.
CURED to secure the desired equilibrium
But We should not on our OWL r. spOnsi.
olh'y indulge in any more financial esca
paIes We have already overyalueo silver
ana sent sli The gold cut OF the county
Te!vslued COLO sud sent the silver cut.
me trCuhie about the circulation OF the
NYef dotisr Is not that lis average value
n' me year mas been only SS15 cents.
me average Va ne al the hs,luoliars,
4l'fteIs sn0 dimes WAS spil less, tor they
Tpltsln only 800 ~ grams 10 The dollar.
Dul lhtV clrCu ate quIlu freely. Tine lrou.
ole WIN III sltvtr DOLLAR IS mat ~ has to
compete ~Iip smsll DuIep, VII ich sre more
easily carried, | Ine latter could be got
Uut II Inc ~ay, tn re would be no trouble
aOout ibt circulation or these dollars, SO
'ug IS hey we've not IN eAcess OF the
public want.
The experiment has been made OF