Evening star. [volume] (Washington, D.C.) 1854-1972, 1880-01-24
GOLD and SILVER.
How a Metallic Currency Is Re.
garled in England and France
The Peculiar American Fancy.

There are possibly few things more curlously
interesting TO stranger in America-when that
stranger has been In the country before-SayS
George Augustus Sala In the North American
Review, than to observe the strong dfsinclina-
ton which is felt by the people at large to make
use in the daily transactions OF life of metallic
been resumed; and the United States treasury
has accumulated an enormous reserve In gold;
but the public still cling with apparent fond
fer five-dollar bill to five-doilar gold-plece,
but $50 it strikes me) would much rather have
one-d0llar note than dollar in silver grant
that the latter Is, albeit a handsome somewhat
OF a cumbersome coin. In England we contumelf-
ously call our SHILLING pieces, which are even
more cumbrous specimens Of mintage, 'cart-
Wheels" and make haste to change them,
whenever we have 1nvoluntarily taken them,
for smaller currency; but when did you ever
hear Fl enchman complain Of having pocket
full OF five-tranc pieces? And the tive-franc
Frenchman ha, m nod respect for note
OF the Bank of France for 20 francs; but bills for
smaller denominations he utterly loathes-re-
member1ng the unredeemed dSSigilGtS of 1893
and from the bottom of his soul abhors. In Eng
land we admire and revere the Hve-pOund Bank
of England note and its higher denominations:
but an attempt to force currency OF one-pound
notes or OF hye-Shillfng notes ON the nation in
time of peace would lead to a revolution. No
LOndoner will have anything to do with an Irish
One-pound note, or for one issued by the few
provincial banks which are still authorized to
emit such securities We believe only In gold,
silver, and ..fiimsies, OF notes above the Value
of five-pounds. The American does not seem to
care for gold and he seems to dislike a silver
coinage in the higher denominations intensely.
/ have been more than once reminded by
American friends, to whom 1 have mentioned
the ito me) pulling persistence with which
printed promises to pay, instead of solid bullion,
are adhered to, that the public have yet to be
educated to the employment of metallic cur
rency, and that there are millions of young
Americans Of both sexes who, until they were
IA or Is years old, had never set eyes on an
American gold or silver coin. But remember
to have read that in the beginning of this CEN
fury we in England, during the continuance of
our great wars with France, a period of about
fifteen years, were afflicted with an irredeem-
able paper currency-never, however, Of lower
denomination than twenty ShillingS for we had
always plenty of silver and that the general
disfavor with which the suspension of cash pay
ments was regarded found its embodiment In a
song which obtained immense popularity, and
which began
I'd rather have guinea than one pound note. ~
The resumption Of specie payments at the con-
cluSiOn Of the war was hailed with almost deli
rious enthusiasm by the public at large; and he
would be bold statesman indeed who attempt
ed to withdraw from circulation that gold which
is held sacred among us, and to substitute for 1t
1rredeemable paper.