The semi-weekly miner., 1885-06-17

The San Francisco Chronicle, in discuss
! ing the blindness Of the Eastern press in
treating the silver question says it some
times almost grows discouraged in it's at
tempt to educate the Eastern editors upon
this subject and declares thatit has been
moved to undertake the task because
silver has never concerned them deeply
enough to. make it worth their while TO
study it for themselves; That they have
accepted the views of the New York clearing
house upon the subject has been clear all
along. When facts break upon their minds
they are bewildered, and act like people
who are dazed, yet open to conviction
Here is the New York Times. which, after
considering Senator Sherman's scheme OF a
shifting scale for the number OF grains OF
silver in the standard dollar, naturally
pronounces the plan impracticable. But
the Times goes on to say that the remedy
for the evil is the suspension Of coinage OF
the silver dollar and the issue of silver
certificates equivalent at the time of their
issue to the silver value of the gold dollar
of 25.8 grains.
This would be merely Sherman's scheme
in another shape certificates instead OF
coin. Might one inquire what authority
there is under the laws of the United States
for pronouncing the gold dollar containing
25.8 grains OF gold the standard OF value,
to the exclusion of the silver dollar of 412A
grains? The law says they are both legal
tender dollars. Suppose we reverse the
proposition OF the Times and say that the
American dollar shall be hereafter the stan
dard silver dollar. If the course OF the
market continues to run as it does at pres
ent, the gold dollar will 60 to premium,
as it often has heretofore. But the world
will not come to an end on that account.
The question Island the Times will master
it if it applies it's mind to it without prelu-
dice: Which is best for the people OF this
country-to demonetize silver and induce
sudden and sharp contraction OF the cur
rency, or let gold quietly rise to a small
premium, which will practically render the
United States moncmetallic country on
silver basis?
Such journals as the New York Herald
and Tribune, which derive their inspiration
from the moneyed men Of the East, insist
that gold shall be the exclusive standard OF
value. The effect of this would be to in
crease the burdens OF the debtor class, and
the profit OF the creditor class. A man who
promises to pay dollar when dollar was
412h grains of silver, would be obliged to
pay 4SO grains, if silver were demonetized
at the present time. The debtor class,
which comprises majority OF the people,
will not submit to such an imposition.
They will stand by the letter of their bond.
They agreed to pay 412h grains OF silver.
They did not guarantee-when they prom
ised to opay-thatg gold should not appreciate
in value any more than diamonds. They
promised to pay dollars, and dollars they
are ready to pay. When it is attempted
to make them pay more than they agreed,
they regard the attempt as scheme to de-
fraud them, and they will not submit to it.
1t is not very material what course the
Times adopts. The New York press is ex-
ceedingly able and intelligent. But it does
not influence public opinion to any ap-
preciable degree, from the fact that it de-
rives it's inspiration from narrow clique
which is not in sympathy with the people
outside OF the metropolitan city. 1t con-
Germs the Times more than any one else
whether it will try to form an independent
Judgment on this silver question, or will,
with it's contemporaries, be led by the nose
by the narrow minded persons who manage
the New York banks.