The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1884-12-13
OBJECTIONS TO SILVER NOTICED.

OBJECTIONS TO SILVER NOTICED.
It will be noticed that mono-metal-
lists do not maintain that the coinage
of standard dollars is injuring the
country or that it Injuries any indus
try pursued In it. If they could
show wherein the prosperity OF
the country is checked OF
it's credit impaired, or large enter
prises crippled o. any business suf-
fered through the continued coinage
of silver, their diatribes against the
metal would be entitled to some con-
sideratioB. But nothing of the kind
is maintained. Their opposition to
the standard dollar is based upon the
following propositions: First, that
1t is light weight, or In other words
that 412a grains Of silver will not
bring as much in the market ~ the
gold dollar Of rs $40 grains. Second
that it is not accepted by the people
on this account. Third, that foreign
nations will not accept it at it's
stamped value. Fourth, that it Is
accumulating to an alarming extent
In the vaults of the government.
Fifth, that it will drive gold out of
the country. Sixth, that unless its
coinage be suspended it will become
the measure of values in the United
States and Seventh, the cranks' OBJ
lection, that it gives 1.-The inferior
metal a gold basis"
We believe the above embrace all
the objections advanced by the gold
bugs against silver. la noticing
them we will here state that, with
the exception of the fourth, in the
above series, every one Of them has
been urged by monometalists since
the passage of the Bland act in 1878.
1t is the same old cry we have
heard for years and which has
been iterated and reiterated by
such sheets as the Inter Mountain
and other Trays, Blanches and
Sweethearts of National Banks and
Wall Street bond holders.
The first objection is that Of the
u~nthinking. Gold, silver and United
States treasury notes are money and
excnangeable simply because they
are coined, stamped and issued by
the government as such. A legal
tender note and 4 National bank note
do not owe their value to their
weight. They are accepted by the
people because they are issued by or
upon the authority of the Govern
ment. This is the case with the
silver dollar. 1t is received, passed
and circulated as money because it's
use as such is sanctioned by the
That is enough. Its
weight cuts no figure in the question.
The second objection is not founded
upon fact. The silver dollar is &C
,epted by the people and the $50, 00O.-
400 of certificates issued upon the
oil in the treasury vaults serve every
purpose in the channels of trade as
;he same amount of United States
egal tenders does.
The third objection, that foreign
nations will not receive our silver
;oins at their stamped value may also
urged against the rest OF the
currency of the country. They won't
our paper currency at all and
metal currency only by weight.
)ur government accepts foreign coins
July by weight also, and refuses to
eceive their paper. There Is nothing
lew or alarming in this condition
# things.
The fourth objection deserves no
A government that cannot
provide for it's coin, will soon be in a
position where it will have no coin
0 provide for. There is more idle
old than silver in the treasury vaults
nd if this objection holds good
gainst silver 1t holds good against .
,
Silver has not yet driven gold from ,
be country. On the contrary, our {
IMPORTS of that metal are annually in
xcess of its exports. Fears are not I
rgu ments, and the fear that the con- {
lnued coinage of silver will scare I
old out of the. country exists only in {
he minds of gold-bugs. +
The seventh objection Is that there 3
danger of silver becoming the q
1easure of value in the United
tates. Well, what if it should?
rom the foundation of this Gove1n- j;
,ent up to 1873 1t was the measure :
t value, and the country prospered q
|ght along. Gold has been the :
leasure of values about IL years. 1t l.
becoming scarce every day and the y
old-bugs wish it to remain the &
leasure of values indefinitely. 1t {
'ould make money dearer and in \
rest higher. We, for one, hope .
silver will resume its royal n
ACE among the metals and again q
ecome the unit OF values.
The last objection has been an
vered in the foregoing. We will #
lily add that by the report of the .
lperintendent of the Mint, the pro =
let of gold is steadily falling off. In :,
81 it was sos, O23, O7s in 1882 it was "
s, 69s, 5Ss; in 1883 it was but 1874, 027- n
0; or in round numbers it is de- n
at the rate of 81, SOC, 600 per f.
mum. In the United States the ~
ling off for three years has been az ..
1881. $34, 0OO, 900: 1852, $32,- is
1000; 1888, $50, O00, OOO. Meanwhile r.
e demand for it for coinage and the Fl
Is il stea0ilv incroasinr. T.ast