The Delaware ledger. (Newark, Del.) 1879-19??, 1885-02-28
THE SILVER DOLLAR,

AhWUbtNt IfOuytNN tff NJ .NUftptus ibi- -Hti'Hs
THE SILVER DOLLAR.
Although there is little probability of
any legislation in this Congress To check
the coinage of the silver dollar, it is quite
evident that there is great change of
public opinion on this subject. The adj
vocates of the silver dollar have lost
much of their former enthusiasm. They
no longer apply TO it the fond and en-
dearing epithets which they gave it
seven Years ago. A few of them, like
Judge Kelley, have had the courage to
confess their error. Some of them would
if the coinage should be arrested without
their aid, but they have reputation for
craftsmanship to maintain and are fright
encd from duty by the hobgoblin of con-
sistency. Others, in their obsequious
llattery of power, would invest the Presi-
dent with the extraordinary prerogatiye
of controlling the coinage of silver dol
lars.
So great Il break has been made in the
silver.dollar party that it may be pre-
dicted with much confidence that the act
of 1878 will be repealed early in the next
Congress, This must be done or the
whole currency will be degraded to the
standard Of the silver dollar. The danger
may not be imminent, but it is inevitable
sooner or later if this arbitrary coinage is
continued. When twenty-four millions
of deprecated silver dollars are poured
into the currency every year il is only q
question of time when gold will wholly
disappear from circulation. The process
though hardly perccptihlc, has begun al
ready. More than thrcc-fonrths of The
silver dollar coinage is piled up in tn,
Treasury vaults. Moncy-lcndcrs stipu
late for payment in gold or its cquivarn
and thus protect themselves against tn
silver depreciation The silver dollar
are boarded with reluctance, and som
bankers receive them only Us Il sprci,
deposit, In the end the Gresham la,
| VI 'l'Gtil llNtll anu inc ll,lu Ill
rency drive out the good
r Mr.. Dorshrimer's bill just presented
Il the House proposes to coin dollar
American silver containing $50 grains
whatever amount the silver may be of
' cred at the mints. This would bring I'll
4 silver dollar almost to par with gol
When at par with gold some of
= would 60 to the melting-pot, m
some would flow off to the Fast, viii,
has been the receptacle of the wort
surplus silVca ever since the rOman mt
chants carried the products of the min
of Spain to India to exchange it for peai
and diamonds. Nobody now melts 4
silver dollar at II loss of fifteen cents. T.
Chinese will not take it, and the peoI
of this country must make good the b;
n ance against them in silver bars or
gold. If Mr.. Dorsheimar's dollars shou
rise above par they would disappear fro
circulation, which would seriously d
turb the monetary affairs of the count
In order to keep the subsidiary sily
10 currency in circulation it is necessary
depreciate it with alloy. But why sho
-~ policy be maintained which must res
Y in making the whole currency of
United States consist of depreciat
silver
1t is said that the depreciation of sill
4 will not have an injurious effect upon
- wOrking-people, who will be able to t
care of themselves by advancing II
wages with the rise in prices of com
ditics. This is u mischevous err
p Whilst bankers and merchants are gu
J. to perceive rises in prices or depreciat
in the purchasing power of currency
STIMULATING for payment in gold
its equivalent, workingmen must
such currency as is going A risp
wages follows, but it never goes brfor
advance in the cost of commodities
readjustment comes at last but work.
suffer much in the meantime. No
ton of the people are so much concer
, in stable and sound currency as
men who depend on their daily
weekly wages. When their earnings
measured and paid in an uncertain
No tiuctuating currency they are the 10
Yet demagogues and empirics, who
per with the money standard and II
eighty five cents worth of silver pas
Il one hundred by arbitrary act of Cong
:. boast that they are unfolding the i
s3ss5# ests of the working-peoplc. But t
;A are abundant signs that the silver Gil
=. ~ is passing away. --The Reco
y I;r, IT is not poverty so much as
hing tence that harnesses a ruined mi
,t y .s the struggle between n proud /
and an empty purse-the kce
- up hollow show that must
come to an end. Have the cou
ER to appear poor, and you dis
Del poverty of its sharpest sting
kinds Jameson.
itiOn- -
n re, WHERE necessity ends curl