The Ketchum keystone. [volume] (Ketchum, Idaho) 1885-1899, 1885-12-12

Nothing more important than The
present condition of our currency
and coinage can claim your atten-
ton. Since February, 1873, the
Government has under the COM
pulsory provisions of law, pur-
chased silver bullion and coined
The sal c at the rate OF more than
$2,0Do.oJ0 every month. By this
process, up to TIE present date
1918, So 49, in silver dollars have
been coined. \ reasonable appro-
pyiadon or "A delegation of power
TO the general Government would
Emit is exercise without express
restrictive words, to the peoples
needs and the requirements Of the
public welfare. Upon this theory,
the authority "to coin money"
given Congress by The Constitution,
if 1t permits the purchase by the
Government of the bullion for
coinage, in any event does not JUS
t.fF such purchase and coinage to
N extent beyond the amount
needed for sufficient circulating
medium. The desire to utilize the
silver product ofthe country should
not lead to misuse of The provis-
ions Of this power. The necessity
for such an addition to the silver
currency Of the nation as is COM
PEELED by The silver coinage act, is
ncgatiycd by the fact that up to
the present time only about $1,000
co.. OF silver dollars so coined have
actually found their way into circu-
Acknowledgements than 165, 100000
n possession of the Government,
Tie custody Of which has entailed
q considerable expense for
CONSTRUCTION OF VAULTS
For lis deposit. Against this latter
amount there are outstanding
silver certificates amounting to
about $93,000,000. Every month
f2,000.C00 of gold in the public
treasury is paid out for 100000
or more of silver dollars TO be
added TO the idle mass already
accumulated. If continued long
enough, this operation will result
IN the substitution of silver for all
the gold the Government owns.
applicable to It's general purposes.
1t viii not do to rely upon the
receipts of the Government TO make
good this decline of gold, because
Of the silver thus coined, having
been made legal tender for all debts |
and dues, public and private. At
times during the last six months /!
% per cent. of the receipts for
duties have been in silver certif- |
Gates, while the average within that /
period has been 20 per cent. The .
proportion Of silver and its ccrtifi-
Gates received by the Government
will probably increase as time goes
on, for the reason that the nearer
the period approaches when it will |
be obliged to offer silver in pay
ment OF its obligations, the greater
the induoemcnt there will be to |
hoard gold against a depreciation
in the value Of silver, or for the /
purpose of speculation.
TIIE BOARDING or GOLD
Has already legun. When the
time comes when the gold shall /
have been withdrawn from circula-
ton, then will lie apparent the |
difference between the real value of
the silver dollars and a dollar in /
gold, and the two coins will part I
company, Gold being still the
standard of value and necessary !
in our dealings with other coun-
tries, will be at a premium over
silver. The banks which have
substituted gold for the deposits of
their customers may pay thom with |
silver bought with such gold, thus
making handsome profit. Rich
epeculators will sell their boarded |
gold to their ncighbors who need |
il to liquidatc their foreign debts at
A RUINIOUs PREMIUM
Over silver, and the laboring men
and women Of the land, the most
i efenseless of all, will find that the