Walker Lake bulletin. (Hawthorne, Nev.) 1883-1926, 1885-02-25
noRRILL's silver BILL.

MORRIkkD Div h's AsA
The San Francisco Gall makes the
following statement of the scope and
effect 81 the Morrill, silver bill: The
bill reported from the Senate commit
lee on finance proposes TO receive
trade dollars as if they were standard
) dollars and convert them into standard
dollars. This will involve some loss TO
the Government, as the bullion value
OF the trade dollar is considerably less
than the price paid for it; in other
words, the Government might pur-
chase silver bullion cheaper in open
market But as trade dollars have
been issued by the Government minis
ind put in circulation as money, the
Government Is required in good faith
IL stand part of the loss attending
their retirement. The bill has two
sections which relate to the establish
mrnt of silver on an international
ba-is as full legal tender upon an
agreed ratio to gold. The first Of
these sections is good one by itself,
but section is fastened upon it which
will cost the bill many votes The OBJ
iectionablc section provides that If no
treaties, looking to the establishment
Of silver on an International basis shall
have been made and ratified on the
first af August, 1885, the law providing
for the coinage of not less than 1000
standard silver dollars per month shall
be repealed. The proposition is TO re-
peal law on a contingency. Ii
hostile administration should delay the
International consideration of the sub
ject the bill conlemplates, a law falls
to the ground. By doing nothing, or
by doing something in way that
nothing will come of it, until after Il
certain date, the present silver law will
be got rid of. There is no doubt of
the second session of Congress in the
December following August, 1886, and
II might be allowed to use its judg
ment as to the repeal of the silver law,
having before it, as it will, the history
of the proceedings to establish silver
on an international basis. The Con
gress which meets in December 1886
will be in much better position to
take final action on the silver question
than the present Congress. As matters
now stand, we do not know what may
be the result of a conference with the
Latin Union on the proposition to coin
and circulate silver on an agreed ratio
with gold. 1t may be urged that the
fact that the American policy is defined
in case the negotiations with the Latin
Union are not successful will have
some weight in the proposed confer
encc- The Latin nations may be in
clined to take action by fear of the
depreciation of SILVER, which will
certainly follow a repeal of the silver
,Aw. 1t IS hardly worth while, how
ever, to bind ourselves to II single
,.ssndard policy in advance of a neces-
atty 10 do so. The United States, at
present, is looking to the countries oil
America for an increase of foreign
trade. If there are any markets be-
sides our own which we can supply,
they are those of South America and
Mexico. AT best, we can only hope to
send raw material to Europe. Every
year we will manufacture more and
more of our own goods and exports of
raw material will correspondingly de
crease. These American nat;ors with
which we hope to build up thriving
trade are silver nations. Their cur.
rency is silver and their debts are paid
in silver. Indispensable to Il consider.
able increase of trade with these silver
nations is common standard dollar.
This common standard must be of the
double standard of gold and silver, or
of silver. 1t cannot be gold, for there
Is little or no gold in circulation IN
Mexico or South America In view
Of these facts, Congress should not act
hf1sfvlv in tho mattar