Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1885-08-18
TlAE GOLD RUGS.

and most influential OF these opponents
of silver. W., who live in the land Of
silver, are Of course interested in know
ing what our enemies have to say of our
dominant industry. With this view we
reproduce from a recent leading editorial
in the Herald q few extracts for the in
formation Of the readers of the SENTINEL.
In the beginning of the article in ques-
ton the Herald predicts that "unless
the Silver Coinage law is repealed at an
early date overwhelming financial dis.
aster must come upon the country. The
present financial situation" continues
the Herald, "is the legitimate outcome
oil the Bland Silver Coinage Act" The
Herald then proceeds to tell what ails
the country, as follows:
"New enterprises wait all over the
country for the settlement Of the cur
rency question. Capital is locked up;
the banks are full Of money and cannot
lend it out at even the lowest rates of in.
terest; the spirit of adventure is crushed;
manufactures and commerce languish,
mainly because no man who has money
is willing to put gold dollars into a new
enterprise, with the probability that he
will be able to draw out of it only eighty
three cent silver dollars. If there is
stagnation, if there is lack Of employ
ment among the laboring masses, if in
terest is low and money a drug and cap
ital and labor both suffer, this is due
mainly to the fact that we are cursed
with two kinds of dollars, one worth
seventeen cents less than the other, and
both legal tender by Act of Congress.
The remedy, and the only remedy, is to
stop coming the silver dollars. No other
way exists"
The Herald is in great haste to have
the coinage Of the obnoxious dollar
stopped. 1t combats the idea of losing
valuable time in another endeavor to
have European countries unite with US
in some international adjustment of the
silver question, and adds that European
Governments will do nothing until we
stop the coinage Of silver"
1t next congratulates the country that
there is some change of sentiment among
silver men, and refers to the proposition
put forward by Congressman Warner to
prove it. "The silver men, in fact"
says the Herald. "are themselves in
s~traights. They are bimetallists, and
they see that unless something is done
by Congress very soon this country will
presently be on a silver monometallic
basis. That the silver men do not want
it; it would be a defeat of their whole
Hence we do not believe the sill.
yer men would agree to a new appeal to
new humiliation to this
country to which, we should think, no
American would like to consent.
"Mr. Warner, with whom agree a large
number of the most influential silver
men, proposes a measure, one part of
which provides for the immediate STOP
page of silver coinage. 1t is understood
he is now preparing a bill to be
offered in Congress. When that bill be.
comes public it will deserve fair consider
alton, for the reason that it does
the coinage of silver dollars, and
is the first necessity of the situa.
The SENTINEL pointed out some weeks
ago that this Warner scheme was likely
to be our greatest danger, because it
came in the guise of friendship for silver.
Members who have hitherto been stanch
supporters of silver, not caring to an.
tagonize the administration of President
Cleveland, will be easily won over to the
Warner compromise. We shall not
be surprised if the Warner bill is en-.
into law; rather we shall be sur.
prised If it is not.
In the same article from which we
have quoted the Herald has also some.
thing to say about the late six.million
loan by the banks to the Government,
intimating that they not only helped
but did a patriotic service
for the country On this branch of the
we will allow the Herald to tell
its own story as follows:
"The Secretary of the Treasury was
bound to obey the laws, and doubtless
intended to do SO. If the time came
when he had only silver to pay he would
pay silver. When the Treasury pays
silver the silver crisis will have arrived.
and the banks, who do not want that,
offered to take a certain amount of frac.
tional silver which the Treasury had to
spare, as it is not an available asset"
aod give in exchange for it an equal
amount Of gold. The banks did that
sensible act because they did not want