Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1885-09-27
TO the BANKERS CONVENTION.

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Some Questions PrOpOunded For
Its OBSERVATION-DISCLOSURES Will the
Answer he?
The following has been sent to the Chi
cago Inter-Ocesn:
To the President OF the American Bank.
ers' Association:
II has been announced to the country
that the subject for discussion on the first
day Of the coming convention OF your
Association at Chicago will be the coinage
OF silver. In view Of the prevailing de-
preston in business and industries, which
by many is attributed to the coinage OF
silver under present laws, we beg to sub.
NIT the following queries which directly
or indirectly involve points that may
receive some consideration at your hands:
First-Did not the action of Germany
and the United States in demonetizing
silver in 1S71-73 largely increase the use
OF and demand for gold and thus increase
Its value relatively 10 all other COM
modities?
Second-Does not the continued de.
crease in the production Of gold from the
mines Of the world, together with the
increased consumption Of the same In the
arts, tend constantly TO still further in
crease the value Of gold?
Third-Does not the rise Of gold tend to
depress the relative value or price Of all
other commodities, and to increase the
burden of all debts and taxes2
Fourth-Has not the rise OF gold since
the resumption Of specie payments in the
United States In 1879, been sufficient to
give the gold dollar q purchase power 25
per cent greater comparison being made
| with the average OF all other commodities)
| than it had in 1879?
Fifth-Is 1t not a fact that geld Is now
and has been ever since 1859, In the
United States, the sole ultimate standard
Of comparison in estimating prices Of
commodities and determining the burden Of
debt, or, in other words, is not the United
States practically to-day as much a single
| gold standard nation as Great Britain7
Sixth-H Nos can be answered afirms-
| lively, then it is not true that the present
silver dollar is simply . token coin and
| not q standard coin" in the sense In
which that phrase is used and understood
by economists on both continents?
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ture that the silver "dollar Of the daddies"
has never been restored to the people as II
existed in the laws prior to and for eighty
one years before 1873?
Eighth-If that be true, then 1t Is not
true that "free coinage" is essential to
make the silver dollar q standard coin,
and TO establish the double or alternate
standard, or what is known as bi-metal-
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Ninth-It is not true that the people are
mistaken, particularly debtors, In sup
posing that they have enjoyed for the last
seven years all the advantages which
| could accrue to them from the coinage OF
silver dollars2
Tenth 1T is not true that any quantity
| Of silver bullion which you wish to con-
slider. whether the dollar quantity, an ounce
or a pound, has as great q value to-day
when compared TO the average Of other
commodities as at any other time within
fifty years past?
Eleventh-If this last be true, IL Is not
apparent that the change In ratio Of value
between gold and silver has been occas-
toned by the rise of gold and not by the
fall Of silver
Twelfth-Is it not true that IL the silver
dollar was restored to the people by free
coinage OF that metal, as II existed prior to
1873. it would then have fully as much
value as the dollar contemplated in all
contracts or debts made prior to 1872
Thirteenth-Is not the prevailing hard
times due in great measure to the appre-
citation in value of the gold standard
money. and the consequent forced shrink
age Of prices2
F~ourteenth-Is not the Secretary Of the
Treasury violating the spirit If not the
letter Of the law by refusing to pay the
Government indebtedness in silver dollars,
of which debt over three hundred mill
ions in bonds Ia now due and payable.
T. B. BUCHANAN,
President Colorado Silver Alliance.
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