The Hocking sentinel. [volume] (Logan, Ohio) 1871-1906, 1885-12-10

! coin heavily Deprecated and fuctuatipg and
| uncertain in ths vatae OF tbs purchasing me-
| dunn will be nadg the pretext for an ad
vance in prices beyond that justified by
actual depreciation. r7c 49,.
Those who do not fear any disastrous con-
| sequencQs arising from the continusi COM
pulsory coinage Of silver and who suppose
that the addition to the currency intenoed
ss its result will be public benefit are re-
minded BY the president that history DEM
onstsates that the point is easily reached in
| tho attempt to float at the same time two
sorts of money Of different excellence, when
the better will cease to be in general circu-
latiop. So that il silver coinage be con-
tinsed We may reasonably expect that gold
and its equivalent viii abandon the field of
circulation to silver alene; and this must
produce o severe contraction of the currency
intead Of adding to it. The fact that after
special efforts BY the secretary Of the treas
uIy to increase silver circulation, q large
share Of the limited amount put out has soon
returned to the treasury in the payment OF
duties, leads TO tbs bsllef that the people do
not now desire to keep it on hand, and this,
With the evident disposition to hoard gold,
gives rise to the suspicion that there already
exists lack Of confidence among the people
touehing our financial processea
There Il certainly not enough silver now in
circulation to cause uneasiness; and the
whole amount coined and ON hand, might At
tor . time bs absorbed by the people with
out apprehension, but It Is the ceaseless
stream that threatens to overthrow the land
which causes fear and uncertainty.
Leaving considerations Of home nature
In he discussion Of this subject, the presi-
currsncy cannot be wisely settled mon or
ners;sted In vithout considarino the attitnde
e ~. es.,hi.cs of othar countries vith vhorc
=. r,.int:in com merci.l raIations Tb. n.
tst,,a. "a ~ l..din, ,ov.r. re,n.;n, mn.
.tsnfs.I,v rnchanced .inee the mon.t.rv
confaranca Of 1ssi. and the stems alra.dv
tsLen - sacnra the adoption of q common
intarnation Iatio between gold and silver.
demon.traha tha nsaIesssneS of further at.
tsynnt. e. nhrssant to .ra:ive at .nv .or.s.
ment ~, the snhiact With o&her n.tions
n t6a meSntime we ara accumuIat,ro
silyer coin ha.ed on our own peculiar rat;o
To inch m axtsnt. a wilrrender ne an nm.
des;rahla nartv tn anv anv future monetarv
confar,ance of nation:
Retnrnine to : discussion Of the ouestion
at home. the president aays We have now on
hand ali the silver dollars necessary to SUD-
ply the present neeis Of the people and to
satisfy thoses who from sentiment wish to
see them in circulation. II their coinage Is
suspended they can be rea:i1ly obtained by
III who desire; il the need Of more il 1T any
time apparent coinage can be renewed.
The president discusses the silver question
exhaustivHly; dev6jting pare space to it
than to any other subjeci in his message and
closes discuStop With the following words:
ssTh.t Ill., idiiissaaaker has NOT ALREADY overtahem
ma ffurnij,.. no nroof tha4 dsae.~ dos noc
~.it nno, a contina.stion Of The nre.ent
silver coinaea We have bssn saved By the
most careful management and unusual ex-
pedients. but q continuation Of fortunate
conditions md Ey q confident axpectation
that the ;cotifise of the so11ernimeut in regard
to oliver coinage would be- speedily changed 4
bv thS acti6n Of 'coufreGs Proenerity heGi-
tstaii mon oui threshold bscauss Of the dan
eers and utncertainties surroundinr this
question. CAPITAL timidly ihrinks from
trade and investors are nwillinr to take the
chance Of the Questionable shape in which
their money WI be returned to them. while
euterurise halts at a risk aeainst which care
and saeacious mAuaeenentd do not protect
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