The Cambria freeman. [volume] (Ebensburg, Pa.) 1867-1938, 1885-05-01
THE SILVER COINAGE.

There is a wide difference of view be-
tween.the advocates of the silver dol
lar Ill this country and the bimetallists
of Europe. The friends of the Bland
dollar cannot be regarded as bimetallists
as they ara practically and theoretical
ly in favor of making this light weight
coin the only basis of currency and stan
dard of value. While the bimetallists
of Europe regard the repeal of the Bland
dollar law as essential to the establish
ment of double standard, the advocates
of this coinage pay small heed to such
a consideration. Under the influence OF
the bonanza miners of the Pacific coast
and the infiatiOnistS who demand abun-
dance of ''cheap money" they pursue
policy which must put the dou6le stan
dard out of the question in making more
unstable the relation of value between
the two metals.
AS the bimetallists of France and 9th
er nations of Europe argue that the arb;-
trary coinage of masses of cheap silver
dollars in this country is the chief if
not the only obstacle to double stan
dard, and as the advocates Of this dollar
insist that its coinage shall go on With
out interruption, there is no probability
that these two schools will ever reach
common ground of agreement. They
are getting widerapart every day. Hence
the holding of international conferences
to fix some standard under which gold
and silver can circulate together is a
mere waste of time until the coinage of
Bland dollars is arrested. While this
coinage continues the Governments of
Europe will make no modification of
their currency systems. The leading
commercial countries OF Europe will ad-
here to the gold standard the more tena-
ciously, and this country must in the
end be reduced to the silver dollar as
the only basis of currency, if its coinage
is arbitrarily maintained
But the administration of Cleveland
has thrown down the guantlet TO the
silver dollar advocates in the outstaIt.
The Cabinet is a unit in regard to the
necessity of arresting this coinage. II
is not probable that the Treasury depart
ment will take any steps to check the
coinage of silver dollars in accordance
with the suggestion that there soon will
be no money in the Treasury not 9th
erwise appropriated that can be used
for the purchase of silver bullion. But
when Congress meets, such influence as
the administration can legitimatelY eX-
eTcIse will be eXerted against any fur
ther coinage of the silver dollars. BY
that time public sentiment in favor of
repeating the Bland law will be much
strengthened. The silver kings of the
Pacific, supported by the fiat-mOney in
hatiOnists. will make desperate effort
to prevent a repeal of the law that seeks
to give false value to silver by an ar
bitIary coinage at the rate of twenty
five million dollars year. But there
is reason to assert that the silver miners
and the indatiOnists will exercise upon
the next Congress and the administra-
tion little of the power which they have
exerted in the past. Repeal of the Bland
dollar act aud a substantial revision of
the tariff will be leading features of
legislation in the next Congress. These
two measures are essential parts OF the
same policy of currency and revenue re-
form to which the Democratic party was
pledged by the election of Cleveland.
The struggle Will be a severe one for
such mOustrOus abuses abuses as are
sheltered under the tariff and the silver
dollar act die hard but there is a cheer
ing prospect that the repeal of the silver
dollar coinage and the revision of the
tariff will be accomplished before the
close of next Congress.-Pbjladeiphja
Record.