The Bozeman weekly chronicle. (Bozeman, Mont.) 1883-1889, 1885-10-28
An Argument for silver.

l.
d Governor Hauser in his report to
Secretary Lamar makes the following
appeal in behalf of silver, which should
be read BY every man who wishes h be
conversant with this subject, so vita,ly
important to all Montanians and the en-
tire northwest
Destroy silver, or, which is the same
| thing, stop its being mined, by a little
further depreciation, and the direct loss
will reach at least one hundred millions
of dollars per annum, in metals and
other interests depending upon it. To
see this industry, upon which so much
depends, decried, discouraged and
threatened, by our own people and
neighbors, is most unreasonable and un-
just. It seems to me that the east
should at least treat the metal upon
which our very existence depends, as
well and with the same consideration
that other people of the earth 60. The
most thrifty nations of Europe, France,
Belgium and Holland, give it greater
legal tender valuation by over three per
cent. than our government does, and
although they are purchasers and i'm
porters of silver, they have continued its
use as legal tender money, until each in
dividual inhabitant has about three and
one-half times as much as each indiyi-
dual inhabitant of the United States.
They have from $l2 to $l4 per capita
we only 1915. We not only produce
what we use as money, but good por-
ton of that purchased and used by them.
We produce forty-fivc per cent of all
that is produced in the world. The pre-
sent coinage only adds about forty five
cents per capita per annum. Having
only about 1915 per head, it would re-
quire at least twenty-five years to in
crease the amount per head of our p lpu-
lation to the same as they have; and re-
quire from twelve to fourteen years to
get an amount equal to that held and
owned by France alone. Is it then un-
reasonable to ask for our people that the
government continue to coin silver until
the amount equals that held by other
commercial nations? Silver has been
used as money from time immemorial.
The government could at least give
reasonably fair trial by continuing its
coinage until our people get as much as
other commercial nations have per capl-
ia, and tSen, it would seem to me, is
time enough to think of stopping its use
as currency. We ask it not alone be-
cause its stoppage would be disastrous to
this and to other territories inevitably.
if the country that produces it, destroys
its use as money factor it will depreci-
ate to fatal point) and seriously affect
the adjoining States, but the great ma
jority of the people of the United States
would be injured. Certainly, to destroy
a part of our currencv would greatly in
crease the purchasing power of the re-
mainder, thereby enhancing gold, pro
portionatelY reducing the price of all
commodities and greatly and directly in
juring the debtor class of the nation. To
me, this result, enhancing the value of
gold, is the moving object and cause of
the existing organized war on silver.
Gold, or great portion of it, is collected
and held by a few selfish individuals,
and ifthey can succeed in destroying sill
yer as a legal tender money (which
would stop the product of the metaD
they would thereby add in value about
twenty per cent. to their boarded gold.
do not mean to say that these are the
only persons who are opposing the fur
ther coinage of silver. Nevertheless
they are the moving power and have
organized war against it to bear" and
destroy it. They are predicting dire
disaster from the continued coinage,
claiming that it will bankrupt the gov
ernment," food the country by making
it a dumping ground for silver, drain
the country of fgold," etc. And this, in
the face of the facts, that the most pros
porous nations of Europe have from
three to FIVE times the silver that there
IS in the United States. France with
three times as much, having imported
the past ten years over three hundred |
millions of gold, more than they export
ed. The best banks of the world have
from so to SO per cent, taken together,
of their reserve in silver and are prosper
GUS, with their stock selling at large |
premium. After seven years of continu-
ed coinage we aie exporting more silver
than importing, and importing more gold |
now than exporting. Once the bear
howl" is stoDped-made to control legisla
ton to the end named -th re will be no
trouble in absorbing the coinage. In be-
half of our people beseech the Govern
lnent to continue the coinage to siver
and to use portion of the profit accruing
thereby in distributing the West where
I know it is needed. Government, in
almost the exclusive interest of the peo-
pie Of one portion Of our country com
pels our people to pay burdensome
prJtetured tariff on the iron and man
ufactured articles of that section. They
cannot n equity and win not object $50
reasonable request.
The Bancroft outfit.