Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1881-12-10
eureka Dailp. 5entinel.
SATURDAY. DECEMBER 10. 1881


Mr.. Arthur's message, for which there
is not room in any but a great m%etropol-
itan journal, is a very voluminous affair
1t is but a plain paper, covering all the
ground conceivably included within its
sphere; in other words. it is a resume OF
the entire situation without any marked
impression Of Executive policy, except
that it everywhere emphasizes Mr..
Arthur's determination to follow out
the road indicated by Mr.. Garfield. On
its face this looks like a coup d'etat for
the healing of political wounds; but II
it is honestly proposed and vigorously
carried out in purifying the service and
breaking up the Hayes swindles, the
country will be satisfied to have MIR.
Arthur enjoy the fruits of his political
strategy to the utmost. The people oil
the Pacific Coast unexpectedly lind IN
the new President a familiarity with
finance. 1t does not cost him many
words to hit our silver mining interests a
very severe blow. He advises an early
retirement of silver certificates, and
gives as a reason therefor that they are
an unnecessary addition to the national
currency. 1t is somewhat remarkable
that while Mr.. Arthur's financial genius
brought him go plumply to this con-
c~lusion, that with his eagle-eyed insight
into our financial status he did not see a
few millions in high per cent bonds that
may be retired by proper legislation
and replaced by new issues at
extremely low rates. There are piles OF
accumulated and idle capital in the
country that run to an investment in
United States bonds at three per cent
per annum. Mr.. Arthur shows his SYM
pathy with our silver interests again by
recommending the repeal of the coinage
law, by which 50, 600, 600 standard dol
lars are now being coined monthly. And
he suggests that silver be coined here
after only as it is needed. How nearly
this affects us in Nevada is apparent
when we know that under the existing
law the United States Mint is closed the
greater portion of the year. Mr.. Ar
thurs opinion as to the place of silver in
the commercial world, the quantity OF
the precious metal that we "need," to
use his own term, is no doubt as accu-
rate as his notion Of the policy which
dictated the issuance of silver certii-
Gates. Among his several dicta he al
firms that these certificates were put
upon the market for the purpose OF
bringing silver nearly up to the standard
of gold. The reception by the Govern
ment Of revenue duties in silver paper
was to accomplish this grand result
That an auxiliary law Of our great u
try could establish a value for the pre-
cious metals, or for any commodity in
international trade, is as novel as it
would be refreshing if we were sure that
some crank financier had not imposed
upon Mr.. Arthur this cheerful and fairy
like notion. But our profound Execu-
tive and subtle economist, President Ar.
thur, while he assures us that Congress
has the philosophers stone, advises that
august body of Lawmakers not to use it
any more for our benefit 1t is to be
hoped that in some respects, at any rate,
the President Of the United States may
be no more harmful than a man Of straw.