, 1881-11-08


In TmE TninuSE yesterday was published
another nt(t fuller statement Ut tho nuti0n Ut
the Government III ruspcatto The colraRo Ut
tile silver ,lollar authorized by the net Of
Marcl., 1878. Tho malignant hostility Of tito
Treasury Department toward the silver dollar
Inns been ullreluhtIng, and thOrlgh Secretary
Sherman ltas becn out of tho Treasury since
last March this spirit Of opposition Is still
shown OIL NIL occnsinns md by all the Of.
1lccrs. Treasurer Hilnllan Is tho latest 10
exhibit his dislike OF tho silver dollar.
Tl!u Inv OF MarcE,. 1878, directed tho cosll-
nEc Uf silver dollars ut Il rnte not exceeding
s4,O00.o0 nor less tllan s2,0o0, ,0oo pcr month.
This was met by very pronounced stnsc-
1lnnts lhut tho public would never takc,
Use. or handle tito nancy. al,d, lost tho public
might tnke such money, the policy OF tho
Treasury Inns been mover to pay aly silver
dollars out Of the Treasury unless tito public
creditor insisted upon having tlleih III
preference to gold ur greunhacEs. As
tho lnoncy WINS coinctt 1t WIS piled
1way Ill tho public vaults, aud the
Treasury officers mado spccial point
If referring to the fact tint thu silver
dollars were utterly useless amt that tic pub
lie coultl not bp Induced to touch thenf.
Though tho United Stntcs Treasury eXpendott
for salaries n1,tt other purposes sri. .o0,0 COZ
lnol,tI,, the Treasury Department declared
tint 1t was unable to distribute tho coin.
which WIS acc,tnulatlng iii steli uun1ltty ttnr
new building would soon bo required to
liold tho money. The New Yorl; banks Ill
ttucet tho Treasury tn t1itu with them In
MI arrangement by which butll hunks ai,d
Treasury were to exclude silver dollars FROM
their financial transactions. Following tho
cofnngc Of tl,esftscr Lallars, thcre were no less
than six months during which tho Treasury
never ].nil ont ono silver tlu'ar, but boarded
them nwny III tho Treasury vaults, at the
same timu demanding the repeal uf tic silver
net because tho peoplu did not wait tho
money!
Up to tho last dny of Sep.omber tSSt, tho
whole tlntnbur of silver dollars cntnett was
0s,A2.,GT1. THESE are NIL now tho prop
crty Ut the public. Tile handling or silver
| dollars Is different fn one rcspcct frbnl TINT
Of guild coin. Cold coin Is tic property OF
tho pcrsons dcposttIng tbs bullion At tic
nlinas; there is frce coinage Of gotl-tllat Is.
any purson call lia9e 1t cotnutl for hln, td nny
amount for which he will deposit tho bullion.
but tlU citizen can dopnstt silver a,,d IIneU 1t
Coined. Thu Government las II monopoly OF
! silver coinage. 1t buys thu bullion, and tic
coin Us IL is mtused Is exclusively tile prop
erty of tic Government. [nsteatl of paying
out thEs silver md placing 1t in tho hands OF
tho people, tho Treasury Department 'las
persstently discouraged Its use, ahh llns held
II IN tho Treasury vaults.
Dut tlts policy lIas at last been broken
down. All the silver dollars c0El,eA are li0w
In ,tse US money; the Treasury ias only a
small balance of silver HOW belonging to
tho Government. Ot tho 0s,000,0oo ii
silver dollars c0incd, there arc 1000,
0oO iii netual circulation among tile peuplc,
and tiiore nr0 tJ.0U0V outstanding In
the form Of silver certificates, 30 Mt this tint
tllere are Ito silver dollars In the Treasury
| belonging to tile Government; the ownnr.
sltp Inns been transferred To tho general put,
lie. Tho silver certificates nrc rcdcetHab]s m
demand In silver dollars, nit, these Sui 000, 10;
aru atlIe1 to tho general currency Ut tic
country.
hut tie Treasury officers, truo to tl.e1r hos
tIElty to the silver ti0ttnrs, always speak o
tho silver III tha Treasury rs SO mich
coin refused by thu proplo rs currency, mt
cnrefutty iglloru the fNct TINT Ill cQnfyalen
in Treasury certificates for every o,,e u
these silver dollars Is outstanding. So thu
all tho silver doilnrs coined since 1878 ar'
how practically circulating annllg tho pco
pie. Tho ue1and for these silver dnIInrs /
itcrcaslng, and such Is tho demand for sllve
certificates tint the Treasury las recBitl.
becn forced to rufuse to Issue silver ccrtitl