Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1883-07-19
soMBrHIaG MORE ABOUT Silver.

The silver question is taking on form
now that is demanding new attention, and
it is dus to the agitation relative to the
trade dollar. It has been discovered that
instead of calling upon the Government to
redeem the trade dollar at par, or even to
buy it in at bullion value, we should enter
rev protests against the process of heard.
ing up silver that is now going on at the
National Treasury. Long since this jour.
nal concluded that its full duty had been
done by pointing out the dangerous policy
the Government was purEuing. But the
situation has become such now that even
the Assistant Secretary of the Treasury, a
rabid silver man. has been brought to the
confessional, end admits that we had best
oeaee coming. We cannot see how any
sensible person could form any other judg-
ment. Let US look at the situation as it is
to-day. June lst there was in the
Treasury los, sos, 977 silver dollars. July
LIST we had slll,9l4. 0I9. This was an
increase in one month of no less than
S2,0l5, 042. half million in excess of the
whole coinage. The increase of silver GER
tifcates in the month was SS92, 295 issued.
The advance Of the balances is steadily
hesvier on The silver than on The gold side
of the sheet Now itis clear that unless
some good reason can be advanced for the
accumulation Of silver, coinage of it should
cease, because it is the hight of folly to
coin money for which the country has no
use. It is notorious that the silver dollar
is just as plentiful as the need is
now. No wise nation coins money
to hoard it up When more coin of
given character returns to the Treasury
than it is able to pay out, the simpleat
financier in the world should be able to see
that it is unwiae to continue the coinage.
That is exactly the condition Of the United
States Treasury now and the silver dollar.
There is one class the continued coinage
benetits-she producers of silver, and yet
we confess to not seeing how they would
be harmed by the cessation of mintage. for
the worst thing that can happen to them is
have great glut Of silver. One Journal
OF acknowledged skill in financial caloula.
tions estimates that at the rate of demand
of the past five years there are silver dol.
lars enough now coined to last thirty years.
We agree with the Boston Advertiser that
now is good time for the press to do mis-.
sionary work by preparing the readers of
the country for the step which must be
speedily taken, uniess We arc willing to see
the whole currency debased and our money
system brought down to that of the single
standard OF silver. Mr.. Burchard, Di
rector of the Mint, long since concluded
that we were making too many silver dol.
lars. The New York Post, rema-king
upon this subject, says that the month of
June shows, in truth, that there was Lit.
tie more favor shown to gold, yet the rel
alive advance in the accumulation of silver
WAS Neutrality-suspicious., silver dollars and
bullion accumulated as the rate of 5 per
cent, while gold coin and bullion accumu.
lated at the rate OF ? per cent. In short,
silver coin is at this moment serious bur.
den to the United States Government, and
to add the trade dollar to the pack will
break the bearers shoulders.