Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1885-02-18
0l)e Cantaster 1ntclliscnfer,
LANCASTER, FEBRUARY Is, 1855.
The Silver Coinage.

The silver question is engaging the at
tention of both Houses of Congress under
the stimulus Of the decided opinion Of the
president-elect that it is supreme nonsense
to be coming silver coins for storage, and
for which there is no demand as currency.
The sooner this practice is stopped the bet
ter it will be but there is little likelihood
thatCongress will reach q conclusion upon
the subject at this session. The
legislators who originally secured
the passage of the law coming silver,
for which there was no demand, are
still around and still live in the hope that
the demand will come if the mint is kept
going. We have been coming buzzard dol
lars for years now and they cannot get
away from the treasury. They have been
utilized as the basis for silver notes issued
to represent them, but these notes enjoy
but limited circulation, rs banks do not
want them, seeing that they represent
less value than their face, because the sill
yer dollars for which they call are not
equal in value to gold dollars.
Among the propositions introduced into
Congress il one by Senator Morgan to leave
it to the president to say at the beginning
of each month whether there shall be any
coinage of silver dollars during that month
and how much. There does not seem to be
any wisdom in this suggestion. Congress
can just as well see and say each yeal
what the coinage shall be as can the presi'
dent, and the control of the coinage should
hardly be surrendered by Congress.
Mr.. Dorsheimer has presented bill
which provides for the unlimited coinage Of
silver dollars of 4s0 grains, the present
dollar having but 4l2 grains. II
proposes that year shall be allowed
during which the present dollar:
may he exchanged for the new ones, ant
after that they shall be uncurrent. The new
dollars are made a legal tender. Silver il
to be coined into them without charge OF
demand. Notes may be issued which will
be payable in these dollars or in bars of sill
yer Of equal fneness.
The object seems to be to increase til
intrinsic value of the silver dollar TO kee
it on level with gold. And certainl
it would he well If the coin
of The two metals could be kept a
he same relative value. But this canno
easily be done and the question Is whethe
Congress should call in its silver coinag
whenever the disparity Of its value wit
that sof gold shall be too great, and star
the two coins afresh on their race TO
circulation. The legislation will need t
be frequent to keep the metals on leve
After while the Dorsheimer dollar, of IS
grains, may be worth more than gol
dollar, SO that it would pass out Of circu
lation. Whereupon we will have to com
back to the Buzzards.
There may be no great harm in this
Congress is willing to stand the cost of fire
quent coinage. Silver and gold may b
kept on level, however, at less cost
probablyi by treating the silver in the trea
sury as bullion, and issuing the notes base,
upon it, with promise to pay the numbe
of grains of silver per dollar that will b
equal to the value of the dollar in gold
The United States would stand the heav,
loss of the fiuctuation in value of silver, i
it should do this !; but practically it stands
good part of this cost now il
loading itself up with silver tha
no one wants and which depreci
ates on its hands. If good policy require
the government to keep silver in large Gil
culation it must put it and keep it on
level with gold and pay the piper for tn
cost of the music.