Idaho semi-weekly world. [volume] (Idaho City, Idaho Territory) 1875-1908, 1885-12-18
THE PREsIDENT AGAInsr Sill.
Silver State


The President deyotes q considera-
bic part Of his message to the discus
sion of the silver question. He is
thoroughly irnbued with the Wall
Street idea, and displays his prejudi-
ces IN treating the subject. He ar
CUES that the necessity for increasing
the silver currency of the country as
compelled by the Bland Act, is neg
atived BY the fact that only $4,000
GOO OF silver dollars have actually
found their way into circulation, leay-
ing more than s162, OOO, 900 in the
Treasury against 5000, 600 of sill
yer certificates, and that every month
S2,OOO,OOO in gold is paid out for e.
100000 or more Of silver dollars to
be added to the idle mass already ac-
cumulated.
AS the President admits, what on
" few persons attempt to deny, that
these silver coins are legal tender
for all debts and dues, public and
private, the argument advanced in
the above paragraph clearly indicates
that he looks at the silver dollar
through gold spectacles. or has not
given it the study it deserves. The
fact that 7O,00O,OOO dollars urrepre-
sented by silver certificates remain in
the Treasury does not prove that the
coin is unpopular any more than the
$2OO,0o0,0OO in gold boarded beside
it, shows that gold is Objectionable to
the people. It is the fault of the
Treasury Department that these dol
lars are not kept in circulation by
paying the obligations of the govern
ment with them. Neither is the
Treasury Department compelled to
pay $2,O0O,OO0 in gold monthly for
the silver it coins, and in fact it did
not DO SO until recently, if it does so
now, as those who have sold bullion
at the Carson mint know by expert
ence.
AS further argument against the
dollar, the President states that 20
per cent. of the receipts for duties in
the last six months have been in sill
yer or silver certificates, but as thew
are legal tender for custom duties.
that proves nothing. The Treasury
Department could have paid them
out as fast as received, as the expen-
ditures in the period stated were very
nearly as much as the receipts. Equal
" unconvincing is the assertion that
if the coinage of silver continues gold
will command premium for the lio-
uidation of foreign debts. The bal.
ance of trade is In favor of the Uni
ted States, and instead of money be.
ing sent from this country to Europe,
it has to be sent from Europe here.
If bankers and spectators want to
hoard their gold, instead of having it
in use and drawing interest, that is
their business, and it is business
they will very soon tire of, as they
will find it very Improbable.
There is nothing IN the Presidents ar.
gument against the coinage of silver to
convince the friends of the metal OF any.
body else that Its coinage is Injurious to
the country, and should be suspended. 1t
Is equally With gold the money with which
the government agreed to pay its indebt,
ness, and 1t is far better than the deprect
ated currency which was in circulation
when our national debt was contracted,
in fact it is the money of the masses, not
only in the United States but in England
and Germany, notwithstanding its demor-
citation in those countries, and it is good
enough for the people. who have ~ di,
rect or indirect taxation to support the
government; the honiholdors, bankers,
contractors aud officials who have been en-,
riched at the expense ofthe masses, should