Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1884-04-18
FACTS IN FAVOR OF v
CURRENCY.

intelligent understanding Oh 1he SH'oi
currency question. Tremendous efforts
are being made to render the rich richer
and the masses, who are poor, still
poorer by excluding silver from circuia'
ton as far as possible. There is no other
reason for the attack upon silver but to
increase the millions to be made by the
speculation in ~greenbacks and national
bank notes that wouldfollow the establish
ment of gold alone as the basis of money
value. The fimsiness of the argument
against silver as a monetary andard is
shown by the New York Mining Record
very clearly in the following statement
of undeniable facts:
1. Up to last Wednesday, the num-
Der of standard dollars turned out since
their coinage was directed to be resumed
by the MINIS of the United States, ag.
gregated Sl6S, 425, 500, which, assuming
that all thus minted remain in the coun-
try, would give barely So per head OF
our population.
2. At the present moment, the three
thriftiest nations of Europe, industrially,
have had for years a materially larger
circulation of similar legal tender silver
than our people have at present or can
have under the present coinage law
That is to say, as Mr.. Hewitt dare not
deny, that the French people to-day have
a circulation of silver 6ve-franc pieces,
equivalent to $l4 40 per head of their
population; the people of Belgium have
a similar silver circulation of SO 46; and
and the people of the Netherlands have
$l3 30 per capita.
Now who will dare to say that the
~pecuniary fortunes of the workingmen
or any business interest whatsoever OF
the French, the Belgians or the Dutch,
have been brought to a disastrous plight
by the possession of SO large a silver cir
c~ulation-one from four to five times
larger per capita than that possessed by
our people?
8. While living for so long a period
under a concurrent legal tender circula-
tion of gold and silver, France, in addi-
tion to her legal tender silver circulation,
has accumulated a gold circulation equiv.
alent to 1923 %. per head of the French
people, Belgium a similar circulation
of SIT IS per head of her popu-
~lation, and Holland more than IS
per head. That is to say, in addition to
the large amount per head of silver
money accumulated in France under the
bimetallic system, the French have a
gold circulation of fully $l3 per head
greater than that of our own people at
this time, and that of the Belgians also
is greater by at least 81 80 per head,
while that of Holland is but 81 per head
less than is claimed to be in the United
States-chiefy locked up, be it noted, in
the Treasury and bank vaults in SIC
pieces.
4. The strongest bank in the world,
the Bank of France, at this time, has its
SOL per cent of its specie reserve consti
tuted Of silver five-franc pieces, that il
to say of 5000, l59, 600 or fully $40, 900,
600 more full legal tender silver money
than was in possession of the United
States Treasury last Wednesday. Thii
great sum of silver, coupled with $l97,
46l, 900 in gold, forms the specie basis O.
an outstanding note circulation of the
Bank of France about the LIST of March
1884, Of 1894, S69, 900, notes that are al
current anywhere in Europe as an En-
glish sovereign or an American Eagle
Moreover, the stock of the bank of the
par value of 5000 per share is selling fol
not less than 81, 034, and the sharehold
ers last year received in dividends more
than s per cent upon the appreciated
price clear of taxes.
5. Should our MINIS be kept coming
standard dollars at the present average
rate of 2, 1874. 900 per month, it will take
until the Both of June 1897 to ado
enough standard dollars to the sun al
ready coined to make the amount minted
equivalent to the legal-tender value o.
the silver fve-franc pieces now circulated
in France. By that time, however, oul
population will have been increased tC
not less than ", 500. 900 souls, and con.
sequently, with ever so many as $40,
OOO, 900 standard dollars, our people
would have but S. 81 per head, or 81 4C
less than the French people have pei
capita at the present writing, without
any of the disastrous consequences WISH
BILE, so blatantly asseverated by Mr..
Hewitt to be the inevitable result to this
country, should the present silver coin.
age be materially increased.
THE BLAIR BILL.
The bill of Senator Blair passed the
Senate by the emphatic vote of 80 to IL.