Nevada County picayune., 1885-12-10
The President aad Silver.

piIutcd ViI " eult5uaA III Olutl to move Thursday. In Thursdays Gazette appeared about halfa doz- cn more columns of the message, making it more lengthy still. and in if he discussed the matter. In it he the second time gave utter ance to doctrine contrary to the opinion of q majority of the Demo cratic party, Although he does not say that silver should be de- monetized, as the opponents of de-
 mocracy desired, still he says it's
 coinage should be suspended for a
 tune and renewed when necessary.
 The Democrats of the South and
 West favor the law as it now
 stands, with reference to it's coin-
 age, and there is justly strong
 feeling of censure against the Pres
 ident for opposing it.
 We are are in fay or of paying ont the large amount of silver now in the treasury on the public debt and
 the coinage of more for the same purpose. It is 70 be hoped no train ot circumstance will cause a bill to get through Congress, in com pliancc with the Presidents rec. ommendation, and we do thin k one will.
 II is tue silver is demonetized in all European countries and gold IS lhc only standard of value in the financial world, and, it may prove true that an effort to float silver in this country may cause the with, drawal of gold from circulation, etc., as MT. Cleveland says, yet we favor silver, and shall continue to do until convinced that it is error.
 FoI the information of our read 1 CTS, we here give, in the main, Mr Cleveland s words on
 SILVER:
 Since February, 1878, the gov erhment has, under the compulSo- " provisions of law, purchased | silver bullion and coined the same | at the rate of more than ?2,O00,O0O ! every month. By this process up [ the present date S215 .759,43l in silver have been coined. 4 reas- onablc appreciation ofa delegation of power to the general govern mcnt would limit it's exercise, with out express restriction in words to the peoples needs and the require ments of the public welfare. Up ! on this theory of coin money given to congress by the constitution. while it permits the purchase by | the government of bullion for coin | age. in any event it does not justi- fy such purchase and coinage to | any extent beyond the amount needed for a sui1icint circu ating medium. The desire to utilize the silver product of the country should not lead to misuse of the provisions of this power.
 The necessity for such addition to the silver currency of the nation as is compelled by the:silver coin, age act is negatived by the fact ! that up to the present time only about 50,O00,OOO of the silver dol lars so coined have found their way i into circulation, leaving more than slGj, ,000 ,000 in possession of the government, the custody of which has entailed considerable expense for constructing vaults for it's de [ posit Against the latter amount !, there are outstanding silver cirtili | cates amounting to about :33 ,OOO,- 1 O00.
 The silver and it's certificates re- ccived by the government will | probably increase as time goes on, for the reason that the nearer the period approaches when it will be . obliged to offer silver in payment of its obligations the greater in there will be to hoard gold against the depreciation in the value of silver or for the pur- pose of spcculating. This hoard ing mas already begun. When the | time comes that gold has been from circulation then will be apparent the difference be- tween the real value of a silver | dollar and dollar in gold and the | coins will part company. Gold is | still the standard of value, and | necessarily in our dealings with | other counties will be at a pre- | mium over silver. Banks which . have substituted gold for the de. 1 posits of their customers may pay 1 them with silver bought with such . gold, making a handsome profit. i, Rich spectators will sell their boarded gold to their neighbors. who need 1t to liquidate their for eigu debts at premium over sill yer, The laboring men and wo- men of the land, the most detcnc. less of all, will find that the dollar 1 received for the wages of their toll has shrunk ill it's purchasing pow CT, It may be sad the latter re- ..lt .,.ill la l..aI .l