Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1885-05-30
rue SILVER QUESTION.

While many Pacific Coasters are, very
naturally, suspicious Of Senator Sherman
and his motives, inasmuch as he very
evidently made manifest an anxiety te
make known his present views on the
silver question while with us, yet the
following-the final u%tterances of his re-
cent speech before the San francisco
Chamber Of Commerce-may prove OF in
terest: "There is still one other thing
we want, and that is the last thing ]
shall allude to. We want a certain adj
iustment between silver and gold, that
both these metals may be coined free,
that they may be deposited in the Treas
ury of the United States, in exchange
for none certificates, and that both OF
them should be so adjusted that they
would travel all over the world, equal to
each other in every land and every port.
(Applause.1 Sometimes the idea has
been sought to be promulgated here on
the Pacific Coast that the people of the
East are opposed to the production Of
silver. Why, gentlemen, that is q great
mistake. The demonstration of either
silver or gold in this country OIL in the
world would be one of the calamities
that would extend to every individual IN
the civilized community. Both silver
and gold are necessary to commerce, the
one to measure the small business of life,
and the other the larger exchanges; but
both standing equal to the other, and en-
titled to equal value and power. There
is in the Eastern States, a widely grow
ing opinion, which may not be shared by
you, that in order to make these two
moneys travel side by side, they must be
of actual market value, SO that n in
foreign markets as well as in domestic
markets may be measured by the other
not silver by gold nor gold by silver,
but like the equal parts of a pair of
shears, both necessary for active use
everywhere, in order to do the greatest
good to the greatest number"
The Bulletin, while viewing Mr.. Sher-
mans ideas on the white metal, has the
following to say: "Senator Sherman
may be credited with an honest desire to
solve the silver question, but we do not
think that our people will accept his con-
illusions. The course which he advises
may become necessary in the distant
future, but it would be a wholly uncalled
for experiment at the present time. Sill.
yer since 1873 has fallen very rapidly in
value relatively to gold, because of IN.
friendly legislation. 1t has fallen in
these ten years more than it had done in
centuries previously. This fact is suf-
ficieut of itself to demonstrate the arti.
fetal nature of the causes of depression.
"The standard dollar is coined in the
United States in the ratio of Is. 98S to l
grain of gold against l53 to l in France.
Before German characterization in 1879
the standard dollar was worth 81 03.
There is no reason why silver should not
regain its old position. Its production
now is not relatively excessive to that Of
gold. The Senator rather gave himself
away when he said that France could
not afford to put more silver in the dol.
lar, as he suggested should be done in
the United States, because she would
lose so much. The effort to remove our
country from the same category because
silver is produced here is a mere phrase,
which when analysed means just nothing
at all.
but the question is stripped Of its
real proportions when it is confined to
the interests of silver miners. II has q
broader bearing altogether. 1t affects
the relation of creditors and debtors.
The debtor, national, corporate or in
dividual, can now pay in gold or silver
dollars Of 4l2a grains, 900 fine. By
fiction Of law these 4l2A grains of silver
are worth $50 grains or thereabouts-in
other words the par of gold. Senator
Sherman's plan would turn that fiction
into a reality. The creditor, if his plan
were realized, would receive more actual
grains of silver-say 67A-than his con-
tract called for. The debtor would be
deprived of the chance that silver might,
by natural causes, resume its old place,
the game would be made and he would
be the loser. The advance which GOLD
has made over silver by reason of un'
friendly legislation would be crystallized
into a fact to his injury. To acquire the
gold or silver necessary to discharge his
debt he would have to part with more
labor, or real or personal property. We
say that there is no necessity for haste,
and least of all for a most doubtful ex.
pertinent"