The Mineral argus., 1883-10-04
SILVER CURRENCY.

1t is a well known fact that there
exists in this country - largely in the
East, a strong opposition to silver cur
rency, and every now and then a great
cry is made on the part of those who
believe gold the sole standard of value
and the only metallic medium Of
exchange, against the vast accumula-
ton Of silver in the United States
treasury. 1t will be seen by the last
treasury statement, as in preceding
ones, there is no foundation for this
claim on the part Of the single stand
ard advocates. If the opponents Of
double standard ever expect to abolish
the silver dollar from our currency
they will have to come forward with
Stronger evidence of its worthlessness
as a circulating medium than the
treasury statement produces. In this
connection we quote at length from
the last number of the Mining Review,
a.journal that is ever ready aud able
to defend the silver interests:
"1he treasury statement, made Sep
temDer 18th, shows that there was on
that day in the United States treasury
S2O4, ,52l ,354 in gold coin and bullion,
and Sllo, vi ,33l in silver dollars and
bullion. Deducting the outstanding
certificates the treasury statement
shows, not in actual circulation, gold
coin and bullion $l4y, ,4J3, ,4U4, and in
silver dollars and bullion 81, 1856, ,476
The excess of gold coin and bullion
over silver dollars and bullion is $lU7, :
U14,S2S.
lhis showing, i'm view Of the fact that
every effort has been made by the
strongest forces that could be brought
to bear to destroy the currency value
of silver and retard its circulation, anC
every advantage has been given to make
gold the circulating medium, is Ger
tainly II satisfactory one, and prove'
the utter failure Of the attempt to ruiz
the silver currency of the country. 4
might De well To question the ifppropri
ateness of applying the term super
nuous" to the silver dollar i'll view o
the present statements of the treitsur,
department. The fact begins to appea
that it might better be applied to tn
gold coinage.
Ii is very evident that the accumula
ton Of silver in the treasury until IT
amount might be used rs an argumen
against coinage, was one the plans q
! the eargentphObists, and to this plan tia
government officials unjustly lent thei
assistance. The Eastern press starte
the cry Of bursting treasury vaults, ton
1 Of idle silver dollars in the treasury, tn
supertiuOus silver dollar, etc, whic
was re-echOed by foolish and unthink
ing followers in the West, some even i
the mining camps. But the treasur
statement, although carefully arranged
by the logic of its figures, wrough
more injury TO the cause than man
columns Of Misrepresentation coul
repair.
The statements of the treasury d.
partment have been the best argument
to prove the fhlsity of the charges tina
have been made to injure the value {
silver af a circulating medium.
The shameful discrimination Of tn
Government in regard to its own coil
age, to the injury Of the people VIII
are entitled to justice, marks an epoc
of disgraceful prostitution which wi
not be forgotten when silver, overcon
ing all obstacles, will again becom
what it has been III the financial IN
tory of the past, and practically
to-day, the standard Of the world
measure of value"