Savannah morning news. [volume] (Savannah) 1868-1887, 1881-07-16
The Silver Discussion.
st. Loltis RepubLicnn.


There are none so blind as those who
will not see. The monometalists affect
to regard the International Monetary
Conference as a scheme to bull the silver
market and to place it on a fictitious
basis. They say silver must rest on its
merits relatively with gold and com
modities generally. Meaning by this
that the cost of producing it must deter
mine its value, and that no other fact
can determine its permanent value. This
remark is either uncandId or superficial.
Does not every one who thinks know
that cost of production of an article
often depends upon the amount to
be produced ? For example, the de-
mand for the products of agricul-
ture Is so great that not only the best
and most fruitful soils are worked,
but others, such as yield harvests
only with great expense of labor and
fertilizers, and then in meaere quantity,
are also cultivated. The price of agri-
cultural products is governed and fixed
by the cost of production on the least
favorable soils. In other words, chain
is no stronger than its weakest link. So
with silver. If it require 81 300 600, 600
of silver to supply, as is now estimated,
twenty four of the leading commercial
countries of the world with circulation,
and by demonetiZation of this metal in
three-fourths of these countries, $780,
600, 900 only be required, all the least
profitable mines would be abandoned and
those worked only which would yield at
the least expense of labor. Each dollar of
the $400, 900, 900 could be produced at
Of loh hN oh a all cf
the 81 800 600. 600. The potent factor,
therefore, in determining the value of
silver by the standard cost of production
would be the extent of the use to which
the metal is devoted and the consequent
demand for 1t. 1t is against the demOne-
tization and the inevitable resultant cur
tailment of demand that the friends of
silver money are battling. No doubt
silver can be made no better than a base
metal if it is not allowed to perform the
Office of money.
When it Is sought in Germany and
other countries 10. restrict and destroy
the demand for American meats by in
dustriously teaching that our cattle and
hogs are diseased. every friend of
American agriculture and every Jealous
man of business Indignantly protests
against the blow at our interests. 1t
requires no argument to prove that if
the leading countries refuse to use
American meats that, restricted to this
continent, the demand for them must
fa'l off aud the price decline. The chief
use of cattle and hogs is for food. If
they are not available for meat they are
of little value. The chief use of silver is
for money, and if it is not available for
this purpose, like rejected meat, it be-
comes worthless. The strange feature
in this discussion is that there is a single
American who favors the destruction of
the value of one of the large products
of the United States.
All that any friend of silver money de-
mands or desires is that it shall not be
dishonored by any sort of demOnetiza-
ton or restriction of its coinage, but that
it shall remain what it has ever been since
the day when Abraham bought the field
of AIacpelah as a resting place for his
wife and paid for it with silver. To first
dishonOr silver by depriving it of the
quality of money and refusing to allow
it to perform the Office which has be-
longed to it through all the ages of the
world and then cry out dishonest dol
lar" and stigmatize it as fraudulent
currency" is but an effort on the part of
the monometalists to take advantage Of
their own wrong.
The Paris conference has adjourned.
1t did nothing definite; but a spirit of
inquiry is abroad and will no doubt re-
suit in good. The representatives of
countries not having a 1.-THE of the in
terest in the subject we have were found
to be well rooted and grounded in the
doctrines of bimetalism.