Lyon County times. [volume] (Silver City, Nev.) 1874-1907, 1885-01-03
NATIONAL SILVER CONVEN
TON.

Colorado mining men have issued a
call for a National Silver Convention,
TO be held at Denver, on January 2Sth,
1888. The Executive Committee, who
are representative men Of different Po-
litical affiliations, invite the attention
of the Governors OF the several States
and Territories to the call, and through
them urgently request the attendance OF
as many of the friends Of silver as they
may appoint, or as may be elected by
State or county conventions, or other
wise, as they may elect. The signers
OF the call say:
In the face Of abundant agricultural
crops throughout the country, the cry is
heard from all parts Of the United
States that times are hard, confidence
is unsettled in financial circles, and
money is boarded by the banks and in
diyidual lenders, instead Of circulating
among the people. The cause Of this
is from the fact that an insufficient sup.
ply Of money exists, and that the peo-
pie are compelled to transact too great
a proportion Of their business on cred
it. Under the existing laws OF Congress,
$3.50 grains Of gold nine-tenths fine,
containing 23.a2 grains of pure gold,
constitute dollar, 4I2.5o grains Of sill
yer nine .tenths fine, containing 37I.25
grains of pure silver, constitute dollar,
and the producers and owners of pure
gold can take it to the United States
mints in unlimited amounts, and have
it coined into money by paying the cost
of the alloy, the expense to the govern
ment for getting the coined gold into
circulation being only the mintage.
While the coinage of silver is limited
to not less than s., 900, 900, and not to
exceed 81, 900, 900, per month, and in
stead OF coming it on the same footing
that gold is coined, the government
purchases it outright and keeps it out
of circulation by locking it up in its
vaults.
Since the law was enacted, in 1873,
limiting the coinage Of silver, its annu-
al production has been from $4,000
600, to $48, 1000, 900, actual value, and
the coinage about $2S, 900, 900 coin val
NE, or $24, 900, 900 actual value, after
deducting the loss of about IS per cent,
sustained by the producers.
The annual loss to the producers on
the entire product of the country az.
gregates $4,000, 900 to $1,000, 900 by
reason Of this unjust legislation against
silver, and aside from the loss to the
entire people by retarding its produc-
ton and circulation, the expense sus-
tnined by the government is practically
about $24 100000 annually, which
would cease, and this amount would be
saved to the people, and could be ap.
piled to other purposes if individual
coinage Of silver prevailed as formerly.
Besides, with individual coinage the
silver would 60 into circulation from
the hands of the producers as fast as it
is coined, and the price being advanced
its production and coinage would be
doubled in very short period, thereby
stimulating all other business enterprises
and bene6tting the whole people.
The rapidly increasing population
and more extended commerce, together
with the falling off in the production of
gold from year to year, and the constant
ly increasing amount of gold used in
the arts and manufactures, are potent
reasons for increasing the circulation
and coinage Of silver.
The opponents Of silver money tell
US that to coin silver free and unlimited
wonld induce foreign silver to flow to
the United States by reason of its en-
HANGED value here, and the foreigners
,~ould raal;,a an avarara o.oE. r.