Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1885-03-20

DE-
Says the New York San OF ne Iatn
Instant. The Presidents Of the banks
constituting the New York Clearing.
houss Association have pat their head.
together and produced 9 neat little
p.mphIet on the silver question IL Is
instructive and entertaining, though not
PRECISELY in the way its authors intended
tha. it should be-
Thsy begin. naturally, BY m~agnfying
their Office. They declare that they
keep the ksys-Dos Of heaven. TO De sure
bat the only gate by which the silver
dollar can &c. iato circulation IN tina
c0nmunity.
The Clearinghouse is the aysnae
th-oarh whIca these c0ns must nsces
ssrIly pass before they can enter lnfo
general use IS a ns0aey Of the community.
Whatever medium Of payment there L
serev,ed in se.fleclens Of the larger
proportion OF Pablo business done
throarh hanks, must be dlsbarsed by
them 70 the multitude Of their dealers,
and taas becomes the s>cePsed rnssra-
meat 81 trade. Up0u Ehe members o.
the Cearsng-hou therefore ROE rests
the immense responsibility Of dsssrnia-
ing whether the unit OF value shaii longer
be resainsd at par with other civilized IA
tons. or whether is shall Eink TO . loEsr
level
Unfortunately for the sslf-conpasosns
old gentlemen who talk IN this fszhioa,
some 20, 900, 600 Of the hard acsaal silrsr
dollars have slipped past them INTO the
hands Of the people and are now in gen
eral use. Besides these, over $1,000
600 in silver certificates have been issued
and are serving the purpose Of money N
VARGAS parts Of the eoensry, ~parsiealAriy
il the S0a.h and SOathwes& II, a. they
say, the sin Of thus debAsing the national
carrsncy rests upon them, We shoald
like 70 haar what they have 70 sAy II
defense Of their coadoc- For { part.
We hare always labored under toe Il-
prsssioa that Congrsss. and not the NsE
York banks. determined the standard
of yAlass, and that the banks and other
financial institutions had 10 eouforn soII
Oar Wall street szgss nsxt enlarge
upon the enoruisy Of thsir oEn Degh-
genee:
Gold will silently steal away into hid
ing places in volume greatly daspropor-
toned to the silver i~nsrodaoe6. shs real
difference besween the two zoosys VII
more distinctly assert isssf II tie pgsss
and severe eontrEctioa Ezst eazae 70 the
detrimens OF all baEsnsGs.
Il i unnecessary to repeat hers toe
Demonstration we hare % often already
made Of the Stiffness Of this pred5ssi0a-
Everybody knows that the coinage Of the
silver dollar Is going u. and VII ao1-
Time to 20 On At the rate II Gsn01a
m0ath for . year 10 eo1s ~ Least. and
yet there u mt the slightest Egn of .
contraction, but the reverse
To cap the climax Of ahs=rdity the
panPhlst wiads up with tbs prSfOuDd
observation.
II the banks in New YORK ezn nzin-
tsia the gold standard. they vii n0s ouly
retain thar Prsseas deposits. bat viii bs
certain 20 Increase them By rsnitsznc=s
Of similar character from places where
the lnfersor coin has been freely admitted
As Shakespeare Justly rsm2rks There
= nzeh Fissas in if Ii the New York
banks can Dc business O. the gold stand
ard. after the rest Of the co1ntry has
adopted the silver standard. they vii
Aasonplizh . feat very similar 10 that Of
pumgiag oZl : Of > eis.ern which Con
szins ouly water. We shOsld like 10 zee
thsn kserlag in gOld the accounts Of
eass0assrs who have received noshiag
but ElEsr fron their eO1ns-y dshsors-
We fanny that the result. Ike that Il.
the sxp<rilens which Mark Twzin Jaw
tnsd Of making t~o railroad trains pass
each ether On the Same single track,
soald couylnos them that the thing
cozA zos be doae.