Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1885-12-12

po. ~, sesohahl" t appreciation of delegation of
b'"oi 10 the general government would lin
| w,,.i uAricse without express restrictive
n,. "otus u. Tue peoples needs and the require
'hen's OF the public welfare.
, y ,t",, pun thlS theory, the authority to "coin
tin' RNeh To congress by the Consttu-
| @ ,oi II II permits the purchase by the poy.
! SIHl'eht OF bullion for coinage in amy event
/ 80 not luSuiY such purchase u d coinage
/ ~ VI extent beyond The amount needed for
I. t .ou.niIeSlehi circulating medi III The desire
| ~ ~ utllihe the silver product of the country
snpuiu not leGd to misuse or the perversion
! of tins power " N'' p'''oi o'oh
lht necessity for such an addition to the
i'ci currency OF the nation as is compelled
| ~ tht SILVER coinage act is negatIved 6y the
1act lhat up to the present time only sbout
my millions Of SILVER dollars SO coined have
actu'lIy found their way into circulation,
thNIhS more than lB5,H1UH in possession of
# thc Government, the custody Of which has en-.
Z talieu considerable expense Tor construc.
Iloh pI vaults Tor its deposit Against this
lattcI amount there are outstanding silver
cSrtlhcates amounting to about 5000, 600
Every month two million OF gold in the
| puplc treasury are paid out for two millions
or more o, silver dollars, to he added to the
! iule ma tlready accumulated If continued
| iohR enough TINS operation will result Ain the
Substitution of silver for all the goli the
Government owns applicable to its general
( rlirposes, IT will not do to rely ~ on he
customs receipts OF the Government to make
Hoon TINS drain of gold. because the silver
| mus coined having been made legal ten er
| Tor ali debts and dues, public and private nj
t'ihcs during the last six months fifty.eight
! per cent. OF the receipts for duties have been
Ill sHVtr Or slver certificates white the aver
age WITHIN that period has been twenty per
! cent -
The portion of silver and its certificates
received by the Government will probably
increase as time goes on for the reason that
the nearer the period approaches when II
Obliged in t,nt ,,f
lts Obligations, the greater lnduCcment there
WIN ne TO hoard gold against depreca ton IN
lhe Value OF silver or for the purpose of
specializing.
This boarding of gold has already begun.
"hen the time comes that gold has been
| Withdrawn from circulation then will be an.
parent the d ierenc between the real value
OF the SILVER dollar and dollar in gold and
the two coins will part company
Gold, sun the standard Of value and neecs.
sary IN Onr dealings with other countries
| wll be al 4 premium over silver; banks
which have substituted gold for the deposits
OF their customers may pay them with silver
bought with such gold, thus making a hand.
| some proht, rich Spectators will sell their
hoa ded gold to their ncighbors who need
1t to llquldate their ign debts at Il ruinOus
| premium over silver, and the abOrng men
ana women ol the land most dcfcuSeless of
all Will hnd that the dollar received for the
wage OF then toll has sadly shrunk in its
purchasing power.
| | may be SAID that the latter result Will be
| hut tpInnornry and that ,IItrm,talv thc ,,rira
Of labor WIN he adjusted Ia the cRnnvn mn
even II this takes place, the wage.worker
can not possibly gain, but must inevitably
lose since the price he is compelIed to NAV
for his living viii not only be measured IN n
| coin heavily depr ,ciated ana huctuotinp and
| uncertain in It's value but this un crtainty
! in the value OF the purchasing medium viii
be made the pretcXt for al advance in prices
| beyond that Justified by actual depreciation.
/ The words uttered n lSH nv Dnnip Weh.
ster, in the Senate of the United States aro
| true to-day. "ihe very man of all others
who has the deepnst interest in ~ sound rur.
rency and who suffers most by mischieyous
legislation in none, matters is the mnn who
earns his daily bread by ms daily toiI :" The
most distinguished advocate OF ldmetalism
discussing our silver coinage has lately writ.
ten, mo American citiZpns s hand has vat
felt the sonention of rbpnnncss nithrr, in va.
ceiving or expcndiug the skier acf dollars
And those Who i've wv labor or eritimate
trade never will feel that sensation of chpaD.
ness
However D cnty silver dollars NAV become.
they will not be distr butpd HS yifts amonp
the people and if the Mhoring man should
| receives four deprecated dOilurs where he
now receives but two h. VIII pay the de-
preriatpd cofn more than d0Ihlr tho nricr he
| now nays for all the nerpssurIps and comtorts
of life
So if this silver coinage be continued we
may reasonably cyncrt that gold and its
non to silver alone, This. of course. must
produce severe contraction of our cirCtlia.
tiu~ medium instead of adding to II
/ II ,n, he s9id in brief MS INC result of these
efnrts tbnt thenttitIdc of the leading powers
remains substantially unchanged since the
Monetary Conference of ISL nor is IT to he
questioned that the views Of these govern
lh'hiS "'c III ~ 'l9'"', , ,s w
WtlRht VEIN "i puuilF " Ut'.u,u' =, ~ ~ i' r"u'
taken nave therefore ohls uiolt luHt utIlo,l-
slrateu lhe uaflcNslcSs " lu''uti a''u'"! ' !,'e
Ut PttseIlS 70 aIlN Nt AZ ny "s ''"''"' 'i ''''
N"oJco' vi o'hc' ha'lV'''
THE NAVY
| I,,,iroa nc I,,, tp tho horc shared nv
=, ilHp.iuu, 40 n' ~ , ~, tl @ ~, rot
a. a. @ i , ,y ,yil bo emCb os bnhts
oslnI "uun ,. ,'t u.'l va WV, ~ ,i', ao,tb
@ o@ul iiS sta'lu,uS "hlU"r ~" r ,l,t inods in tb%
at i ..J',o'" "' w, Wv = ,,, NM a"r,, n,
w ,t',,,"u , -, W t,'tI, Jrnnt tLn nttont,nn
~ Cnngrnss tn tbH rinsp Of fhe rppOrt of The
~, Nh, IN u,hi,h tbr hun,iIi
e'tit'lS ~ 'It N"r?' ] u ,
| Of lis donort,nnpt is cyh ihItcd and thc start,
! ~ 'ulH "'l" ,'i' m ~, ", ", y - 4, " ,,,, ,,,,End
@ aiuE a." - :, -, """ '"''' '' We
"l' 'APOSou'
THE INDIAN QUESTION.
Tho renort os tho Secretary of the Interior
oontaiuinn an orrount oI tLr opprgttnus of
~ irnnnrt"nt donn,inrnt md much ntcr
,at,nt, infnrnotior win he submitted for
o,,r coTsiaorn,tnn
Grha ,,,,,gt ir,ricte and difficult subject in
cbarya Of mis- drnprtmpnt is the treatment
and management of the Indians ! am salts
Nod thai some progress may be noted in