Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1885-12-10

ure Of the rewards Of frugal industry
NATIoNAL BANKS.
During the year ended November /,
| 1885, IA national banks were orgauized
with an aggregate capital Of Sl6,O3s,VOO.
/ Notes have been issued to them amount
I ing to S4,274,9i0. The whole number
OF these hanks In existence ON
/ the day aforementioned was 2i2D
/ The very limited amount Of circulating
notes issued by the national banks, COM
pared with the amount the law permits
them to issue upon II deposit of bonds
for redemption, indicates that the value
Of our circulating medium may be largely
increased through this instrumentallty'
TIE SILVER DOLLAR.
/ Nothing more important than the present
condition OF our currency and coinage
can claim attention. Since February
! 1873, the government has, under COM
pnlsoV provisions OF law, purchased sill
yer bullion aud coined the same at the rate
OF more than s2,O0O0O0 every month. BY
this process, up to the present date, S2l5,-
75g,4 35 silver dollars have been coined
A reasonable appreciation of Il delegation
of power to the general government
would limit its exercise, without express
restrictive words, TO the peoples needs
and the requirements of the public well
fare. On this theory the authority to
coin money Is given to congress by the
Constitution II IL permits the purchase
by government OF bullion for coinage,
in any event, II does not justify such pur-
chase and coinage to an extent beyond
the amount needed for sufficient circu-
lating medium. The desire 10 utilize the
silver products OF the country should not
lead to misuse OF this power.
the necessity Tor such an addition to tie
silver currency OF the nation as is cont
PEELED by the silver coinage act Is mega
lived by the fact that up to the present
time only about ffty millions OF the silver
dollars coined have actually found their
way into circulation, leaving more than
one hundred aud siXty-tye millions in The
hands of the government, the custody OF
which has cntailed considerable
expense for the construction Of
vnults for It's deposit Against this
latter amount there are outstanding
silver certificates of about 500, 200, 600.
lyrry month $4,000, coo of gold in the
public treasury are paid out for $4,000.
600 or more Of silver dollars TO he added
TO the idle mass already accumulated. II
continued long enough this operation Will
result in the substitution of silver for
all the gold the government owns applica-
bic to its general purposes. 1t viii not
do 10 rely on the customs receipts OF the
government TO the silver thus coined
having been made legal tender for all
debts aud all dues public and private, at
all times. During the last six months %
per cent. of the receipts for duties have
been in silver or silver certificates,
while the average OF gold within
that period has been 20 per cent.
The proportion Of silver and its Certit-
Gates received by the government will
probably increase as time goes on,for the
reason that the nearer the period APP
proachcs when 1t will be Obliged TO offer
>ilycrin the place OF obligations, the great
! CT inducemcnt there VIII be TO hoard gold
against depreciation in the value OF silver
} or for the purpose of specializing This
boarding OF gold has already begun,
When the time comes that gold shall be
withdrawn from circulation, then there
will be an apparent difference be-
tween the real value of sill
yer dollar and dollar in gold,
{ aud the two coins win part company
Gold is sJil the standard of value, and Is
necessary in our dealings with other
+ countries and will be NJ a premium oven
: silver. The banks which have substi
I tuted gold for the deposits of their Gus
q toners may pay them with silver bought
D with such gold, thus making handsome
= profit. Rich spectators will sell theiI
. boarded gold to their neighbors who need
! IL to liguidate their foreign debts at d
D rumous premium over silver, and the la.
: boring men and women of the land, mos
+. dcfensel ISIS of all, Will find that the dollar
received for wages for their toll ha,
, sadly shrunk in its purchasing power
r II may be said that the latter result vii
be but temporary, and that ultimately tn,
4 price of labor will be adjusted to tn,
q change, but, even If this take place, tn,
wage-worker cannot possibly lose, since
r. the price he Is compelled to pay for his
Y living win not only be measured In Il coli
deprecated and iiuctuuting and uncertain
in its value, but this uncertainty in tn,
" value of the purchasing medium
q will be made the preteXt 70
q an advance in prices beyond tina
g justified by the actual depreciation
IS The words uttered IN S34 by Daniel Web
d, ster In the senate of the United State
y are true to-day: "The very man of al
others who has the deepest interest il
u sound currency, and who suffers by mis-
n chieyous legislation In money matters, i
y the man who earns his daily bread by hi
daily toll"
20 The most distinguished advocate of bi
90 metaliSm, discussing our silver coinage
70 has lately written; "No American cit
W zen's hand has yet felt the sensation q
OF cheapness, either in receiving or eN
pending the silver act dollar,
" and those who live by labor or legitimat
go trade never will feel that seusation &
IS cheapness However plenty silver dollar
"a may become they viii not he distribute
as general among the people, and If tn
" laboring man should receive four depr,
IL ciated dollars where he now receives bU
two, he will pay in their deprecated col
~ more than double the price he now pay
\ for all the necessarieS and comforts
4 life. +" Those who do not frarany disastrou
. consequences arising fIom the continue
compulsory coinage OF silver as now q
rected by law, and who suppose that tll
y addition to the currency Of tn
IL country intended as its result wi
Mt be q public benefit, are reminded that III
Y point is easily reached in the attempt {
t, float at the same time two sorts of none
b. OF different excellence, when the bette
~ will cease to be In circulation The hoarC
I'd ing Of gold, which has already take
lit place, indicates that we shall not escap
d. the usual experience Ia such cases
or So II this silver coinage be continued W
IS may reasonably expect gold aud II
w equivalent will abandon the field OF eli
of culation 20 silver alone This, OF coarse