Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1884-12-26
PROTECTING SILVER.

The REGITEE is in receipt of q call for a
State and National Silver Convention from
the Clear Greek County Silver Association
of Colorado. 1t is addressed to the Cor
eruor, and urges in support Of the call;
THAT an insufficient amount Of money
exists, and the people are compelled to
transact too great proportion OF their ousi-
ness on a credit. Under the existing laws
of Congress, $3.50 grains of pure gold, nine
tenths Gne, containing 1922 grains OF gold
constitute a dollar, and ALSO grains OF
silver niue-tenths fine, containing Sid.Zo
grains of pure silver, constitute dollar;
and the producers or owners OF pure Sotu
can take it TO the United States minis IN
unlimited amounts, and have It coined oy
having the cost of the alloy, the expense to
the Government for getting the coined gold
into circulation being only the mlntage.
While the coinage Of silver is limited to not
less Than $1,000. 900, and not to exceed
s. 600. 900 per month, and instead OF coin
inc il on the same footing that gold IS
coined, the Government purchases 1t out
right and keeps it out Of circulation oy
locking it up in its vaults.
Since the law was enacted, in 1878, Inn
ting the coinage Of silver, its annual pro
duciiou has been from S3T,OOOOOO to
SIS 100000 actual value, and the annual
coinage about SIS, 100000 coin value, or
$4,000 600 actual value, after deduchng
the loss ofabout - per cent, sustained Oy
the producers.
The annual loss 10 the peoiucers on the
entire product OF the country aggregates
S. 600 GOO 10 100000 BY reason OF this
unjust legislation against silver, and aside
from the loss to the entire people by retard-
ing lis production and circulation, the eT-
pense sustained by the government Is prac-
ticalIy about $2i 5000 annually which
would cease, and this amount would be
saved to the people and could be applied to
other purposes If individual coinage OF slL
yer prevailed, as formerly. Eesiles, with
individual coinage the silver would 60 into
circulation from the hands Of the producers
as fast rs il is coined, and the price being
advanced, its production and coinage wOuld
be doubled in a very short period, thereby
stimulating all other business enterprises
and beneGttiug he whole people.
The Clear Creek County Silver Associa-
ton wants protection. To accomplish this
it wants Congress to bolster up the price Of
silver BY allowing it to be coined free andin
unlimited quantities. II this should pro-
duce an influx Of foreign silver it further
wants a tariff on SILVER. In other words
the whole 56,OOO,OOO Of people in the
United States are to be enormously taxed
to support the Clear Creek County Associa-
ton of Georgetown, Colorado. 1t saws that
the present hard times are because can in
sufficient supply of money exists and the
people are compelled to transact too great a
portion oftheir business on a credit This
latter clause is true, but no. because too
little money is coined. These bitter times are
ina great measure the outcome Of the
rage for protection that throws the money
into the pockets of the monopOGsts, as it
would do we're there thrice the present
amount coined and circulated, thus causing
the rich to grow richer aud the poor poorer.
Silver is below par the world over and this
people even were these the best Of times
can not afford to pay more for silver than
the people of other nations simply to allow
the stockholders of a mining association to
GROW rich.