The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1885-09-24

uOlIAfA. SuppOSS lubGthu ol lue neN tu
inaugurating works OF public
utility, ut finds an outlet for the accounts
lation Of silver dollars" by paying the
members of Congress OF with them. What
does the honorable gentleman say 70 thisP
His answer would probably be, II recog.
nizg the inconvenience OF the Bilver dollar
in general use.
Mr. Haley, delegate from Idshs, said:
II sm for silver" and am In favor Of bring
ing gold down 10 the silver standard, IN
stead Of raising silver TO the gold standard,
by Government interference TO prevent
tie putting OF 80 much gold into bad
teeth and jewelry, thus leaving 80 small
quantity for coinage that the price is kept
up. pass this Idea by, simply recon-
mending it to the profound consideration
Of Congress-
But Mr.. HsiIey further says: "But in
the meantime the fact that statute OF the
United States says that 25l grains OF gold
shall be dollar, and 4l23 grains OF silver
shall be dollar, Isl sufficient reason why
the American people should give implicil!
credit to the silver dollar, whatever Wall
street men and the bankers may say to
depreciate it. The United States Govern
uept is pledged to stand by its silver dol
lara lust as much as it in 10 redeem any
other OF its bonds II there were not ten
cents worth Of silver in it it would never.
theless be perfectly good circulating me,
dun 20 long as it is Issued and recognized
by the Government OF the United STATS
II has at least as much intrinsic value Us
the paper dollar bill Of the Treasury; and
who will question 1t as q perfectly good
circulating medium"
Now, who, in this year Of our Lord one
thousand eight hundred and eighty..hye-
in this era Of common schools and dime
noyels--eyer before saw or heard Of so
much profound financial wisdom IN so lev
words! l have not space to analyz9 1t
fully, and will notice only two ideas: lSt.
"Tbe United States Government is pledg
ed 10 stand by its silver dollars Just IS
much 40 it is to redeem any other OF it,
bonds" Then the silver dollars are only
"bonds" to DO "redeemed"--in what
They were intended by the act authoriz'
ing their issue 10 bs money and TO IRE:
deem" themselyes-st par value. Now. il
they are to be redeemed" it must be in
gold las gold is the only meta! used for
CON Oh LlUIe VhlnS IMAM pllNClJ " H.AN "a W.
difference between their value and gold Is
to be paid in gold, all right; but where is
the bond or IT. Let me read the bond =:
"2i. 1t the silver dolIar) has AT least as
much intrinsic value as the paper dollar
bill Of the Treasury" and who will ques'
ton it az perfectly good circulating
medium
Certainly the ''silver dollar" has more
| intrinsic vaIu3 than the "p9per dollar
BILL" and yet the paper dollar bill is worth
more than the silver dniiar-Thyf
Because it is the promise or Obligation OF
the Government To pay 10 money OF the
worlds standard the amount Of the same
written on It's face. The paper is worth
nothing comparatively, but it represents
a part Of the public debt and will be paid
| in money when presented. The promise
OF the Government to pay floats the green
back, but the American eagle with wings
full spread Can'E raise the deficient silver
dollar from the vaults OF the Treasury.
Mr.. LaAorn, Of Kentucky, talks in ex.
actly the same strain: ut ia not for Wall
street to cay what silver dollar is worth
have always been accustomed TO regard
a silver dollar as u dollar. The United
States Government in issuing it stamps il
ia dollar, and that's enough. l have faith
in the pledge Of the United States Govern.
ment, aud think every American citizen
ought to have faith In Il"
Now, is il any wonder that with such
men-men who have no opinions OF then
own and who do not know what money is
or the difference between money and an
obligation to pay noney-to formulate
and operate system OF finance for this
country and az Just the relations OF labor
and capital, that capital should go into a
hole and draw the hole la after il!
Mr.. Maybury Of Michigan, said:
~ am in favor Of putting a dollars
worth OF metal into the silver dol
lar. A silver dollar worth less than q
hundred cents Is not q dollar, and it's Il
fraud TO issue It as such. Tho United
States Treasury buys eighty cents, worth
of silver and issues it to the people Tor q
dollar. That is not hight, When siivel
becomes more plentiful the government
buys it at a lower price, bnt always sells il
to the people at the one rate. In that way
| suppose the people have been cheated
to tie extent OF thirty or forty millions in
the silver dollars, which have been coined
at tho rate Of two millions per month
since the Bland act was passed in 1876"
And Mr.. Reed, OF North Carolina, said !:
81 am silver man, but I'm in favor Of
making the silver dollar tho full equival'
emit in intrinsic value Of the gold dollar OF
any other possible dollar"
10 this position must the government
finally come. There may be much poll.
ticaI shutiling and partisan tactics prac-
ticed before they get there, but come to 1t
they must sooner or later. Then what
will be the result? The dollars Of the
daddies" will be melted up as 80 much
bullion and re.coined; and this, by
stopping the purchase OF bullion until the
Treasury vaults are cleaned cut, will be
the hardest blow the silver men ever had,
but it will be the boomerang OF their own
manufacture. q.