Salt Lake evening Democrat. [volume] (Salt Lake City, Utah) 1885-1887, 1885-12-09

will probably increase as time goes on
for the reason that the nearer the perlot
approaches when it will be obliged t.
offer
SILVER IN PAYMENT OF IT'S OBLIGATIONS
The greater the inducement there will b,
to hoard gold against depreciation IL
the value of silver, or for the purpose
speculation. This boarding OF gold ha
already begun. When the time come
when the gold shall have been withdraw
from circulation, then will be apparen
the difference between the real value o
the silver dollar and dollar in gold, ant
the two coins will part company. Golt
being still the standard of value and nee
essary in our dealings with other coun
tries, will be at premium over silver
The banks which have substituted golt
for the deposits of their customers may
pay them with silver bought with sucf
gold, thus making handsome profit.
RICH sPEcULAToRs WILL SELL THEII
HoARDED GOLD
To their neighbors who need it to liquidate
their foreign debts at a ruinous premium
over silver, and the laboring men anC
women of the land, the most defenseless
of all, will find that the dollar received
for the wages of their toll has sadly
shrunk in its purchasing power. 1t may
be said that the latter result will be but
temporary, and that ultimately the price
of labor will be adjusted to the change
but even if this takes place the wage
maker cannot possibly gain, but must
inevitably lose, since the price he is com
PEELED to pay for his living will not only
be measured in coin heavily deprecated
and fluctuating and uncertain in its value
but this uncertainty in the value of the
purchasing medium will be made the
pretext for
AN ADVANCE IN PRICES
Beyond that justified by actual depreeia,
tion
The words uttered in 1884 by Daniel
Webster in the Senate of the United
States are true to-day: "The very man
of all others who has the deepest interest
in sound currency, and who suffers
most by mischievous legislation in money
matters. is the man who earns his daily
bread, by his daily toll" The most dis
tinguished advocate of bi-metallism, dis
cussing our silver coinage, has lately writ
ten: "No American citizens hand has
yet felt the sensation of cheapness either
in receiving or expending the silver act
dollars, and those who live by labor or
legitimate trade never will feel that sem
sation of cheapness, however plenty the
silver dollars may become. They will
not be distributed as gifts among the peo-
pie, and if the laboring man should re-
ceive four deprecated dollars where he
now receives but two, he will pay in the
deprecated coin more than double the
price he now pays for all the necessaries
and comforts of life'' Those who do not
fear any disastrous consequences arising
from
THE CONTINUED COMPULSORY COINAGE OF
SILVER,
AS now directed by law, and who suppose
that the addition to the currency of the
country. intended as its result, will be
public benefit, are reminded that history
demonstrates that the point is easily
reached in the attempt to float at the
same time two sorts of money of different
ratios of excellency, when the better will
cease to be in circulation. The boarding
Of gold which has already taken place,
indicates that we shall not escape the
usual experience in such cases., So if
his silver coinage be continued we may
reasonably expect that gold and it's equiv
llent will abandon the field of circulation
% silver alone. This of course must pro-
luce severe contraction of our circulat-
ng medium instead of adding to it. 1t
will not be disputed that any attempt on
he part of the government to cause the
circulation of
THE SILVER DOLLAR WORTH S6 CENTS,
Side by side with gold dollars worth 100
ents, even with the limit that legislation
loes not run contrary to the laws of trade,
o be successful, mnst be seconded by the |
of the people that both coins
will retain the same purchasing power
nd be interchangeable at will.
A special effort has been made bv the
ecretary of the Treasury to put an
mount OF our silver coin in circulation.
ut the fact that large share of the linn
ed amount thus put out has soon return
to the public treasury in payment of
uties, leads to the belief that the people
o not now desire to keep it in hand, and
lis with the evident disposition to hoard
Did, gives rise to the suspicion that there
lready exists a lack of confidence among
he people touching our financial pro-
ssses. There is certainly
OF ENOUGH SILVER NOW IN CIRCULATION
o cause nneasiness, and the whole
coined and now on hand might
ter time be absorbed by the people
ithout any apprehension, but it is the
'ase!ess stream that threatens to over
DIV the land which causes fear and un-
rtainty. What has been thus far SUBJ
ltted upon this subject relates almost
ltlrely to consideration of a home ;
ature, unconnected with, the bearing {
hich the policies of other nations have
BON the question, but it is perfectly ap-
trent that a line of action in regard to '
If currency cannot wisely be settled {
,on or persisted in without considering {
e attitude on the subject of other
untrles with whom we maintain inter-
urse through commerce, trade and /.
avel. An acknowledgment of the fact :
found in the act by virtue of which our
yer is compulsory coined. 1t provides Z
at the President shall invite the govern
ents of +
COUNTRIES COMPOSING THE LATIN r
UNION, q
called, and of such other European n
tons as he may deem advisable, to b
n the United States in conference to a
opt common ratio between gold and s.
YER for the purpose Of establishing g in q
nationally the use of bi-metallic money d
d securing a fixity of relative value be- d
cen these metals.
This conference absolutely failed, and al
lmllar fate has awaited all subsequent
orts in the same direction, and still we CT
ltlnue our coinage of silver at a ratio ii
terent from that of any other nation.
most vital part of the silver coinage ST
remains imperative and unexecuted. W
without an ally or friend we battle lii
IN the silver field in an illogical and h,