The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1884-12-27

GEORGETOWN. Colo. Nov. 20, 'S4
To the sHver producers and oil MhO
favor its Tee and unlimited coin
age: throughout the United States
and Territories.
In the face of abundant agricul-
tural crops throughout the country,
the cry is heard from all parts of the
United States that times are nard,
confidence is unsettled IN financial
circles ), and money is hoaroed by the
banks and individual lenders, instead
of circulating among the people. The
| cause of this is from the fact that an
insufficient supply of money exists,
and the people are compelled to trans
act too great a proportion of their
business on a credit. Under the ex-
listing laws of congress, Is 80 grains
of gold nine-tenths fine, containing
1922 grains of pure gold, constitute
a dollar, and 412.5O grains of silver
nine-tentks fine, containing 37l.25
grains of pure silver, constitute a
dollar, and the producers or owners
of pure gold can take it to the United
States minis in unlimited amounts
and have it coined into money by
paying the cost of the alloy, the ex-
pense to the government for getting
the coined gold into circulation being
only the mintage. While the com
age of silver is limited to not less
than $2,0 OO, 900, and not to exceed
81, 00O,O GOO per month, and instead of
coming it on the same footing that
gold is coined, the government
purchases it outright ad keeps it out
of circulation by locking 1t up in its
vaults.
Since the law was enacted, in 1878,
limiting the coinage of silver, its
annual production has been from
$37, DOC, 900 to $48, OOO, 900 actual value,
and the annual coinage about $685.
100000 coli value, or $24. OOO, 1900
actual value, after deducting the loss
of about Is per cent, sustained by
the producers.
The annual loss to the producers on
the entire product of the country
aggregates IS, 600, 900 to 81, 100000 by
reason of this unjust legislation
against silver, and aside from the
loss to the entire people by retarding
Its production and circulation, the
expense sustained by the government
is practically about $24, OOO, 0O0annual-
ly, which would cease, and this
amount would be saved to the people,
and could be applied to other pur-
poses if individ ual coinage of silver
prevailed as formerly. Besides, with
individual coinage the silver would
60 into circulation from the hands of
the producers as fast as it is coined,
and the price being advanced, it's
production and coinage would be
doubled in a very short period, there
by stimulating all other business
enterprises and benefiting the whole
people.
The rapidly increasing population
and more extended commerce. to-
gether with the falling off in the pro-
duction OF gold from year to year,
and the constantly increasing amount
of gold used in the arts and manu-
features, are potent reasons for in
creasing the coinage and circulation
of silver.
The opponents of silver money
tell us that to coin money free and
unlimited would induce foreign sill
yer to flow to the Uuited States bv
reason of its EXCHANGED value here.
and the foreigners would realize an
average profit Of Is cents on the dol
lar, but they fail to tell us that the
coinage of foreign silver would cost
the government only the mintage,
and being worth more here with the
United States stamp upon it than 1t
wou Id be in other countries as tul-
lion. 1t would rema!n in circulation
in this country.
In 1878 Reuben E. Fenton. W. s.
droesback ana Francis A. Walker at
tended the International Monetary
conference at Paris, France as com
missioners from the United States
and In 1881 Allen G. Thurman. Wi.
liam M. Everts and Timothy O.
Howe attended q similar conference
at the same place. At both confer
ences the efforts of the frienos cf
silver availed nothing; the represen-
tatlves in attendance from monarch
lcal and despotic governments not
acceding to the demands of those
from France and the United States.
Hence we should moi longer hope for
the recognition of silver from foreign
by any united action. HIT
the United States, being the largest
silver producing country in the
world, should take the lead in the
matter of coinage. and If the great
flow of silver to this country occurs
that is claimed by the mono-metalists
Who are so agitated from fear that
the people will prosper, then an inn.
port duty might be placed upon it. as
is u"w the ,ase with i:or. lead aud
other METALS.