The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1885-09-16
JUDGE REAGAN AND THE SILL
YER QUESTION.

Of the continued coinage of that metal.
JUDGE REAGAN is so we'll known aud
has been for so many years such a
consistent tribune Of the people that
his utterances on this now an-im-
portsnt question will not only attract
but do great good. The East
ern States, where money IL plentiful,
where tho creditor class sfthe coun-
try dwell, where contraction of the
currency would work profitable
wonders, are vigorously attacking tho
coinage Of silver. The
South and West, on tho other hand,
desire to see the volume of money in
creased, and as we are the greatest o,
ailver-producing countries, desire that
metal In as large volume as
we can produce and circulate.
The fight wakes biiterer constant
ly and a terrible pressure will be
brought to bsar on the Forty-ninth
Congress to influence logis lation in
the premises.
siAccording to MIR. REAGAN, there ara
three classes in tho East who demand
tho cessation OF tho silver coinage.
the bankers, tho bOndholders and
those people with axed incomes. Sil.
yer stricken down, tho volume of the
currency Is by 30 much contracted and
gold and national bank notes by so
much enhanced in value, hence the
to the banks. Tho volume
OF tho currency contracted, the bonds
are that much more difficult to pay,
and, gold being the only sgent for
their payment, becomes by just No
much more valuable, while d greater
scarcity Of money increases Its value
and therefore the value Of fixed in.
comes.
Unquestionably the stoppage OF tho
coinage of silver would result In a
contraction Of the currency, higher
rates OF interest, and "a continuation in
tho South aud West, ut least, Of the
present slight times" Tho only ques-
ton to be determined, therefore, the
foregoing statements being self-Ovi-
dent truths, Is whether this continued
and compulsory coinage of silver will,
as its enemies contend, destroy gold
or drive 1t from the country and leave
us but one metal, and that not an uni
versal medium. If IL will destroy
other values, or leave US with an in
sufficient money, both rs to value and
volume, undoubtedly IL would be az
to force 1t upon tho country rs
It would be to sweep IL out OF clroula.
Jon altogether.
The arguments aud figures cited by
JUDGE REAGAN on this point are In
,tructive and sound, and show no
cause for apprehension from the COM
pulsory process OF coinage now going
On. In submitting table showing
The amount of gold and silver In the
United States, tho distinguished gem
tlenan says:
"From tho official statement from
the treasury department 1t will DO seen
that on the lat of January, 1878, there
was $2lS, 100000 gold coin Ia the United
States. Silver was rem0netized and
made legal tonder In February OF
that year. Tho amount OF gold coin,
it Will be seen from this table, has
and rapidly increased, and on
tho LIST of January, 1885, It will DO soon
wo have $563,00O,00O gold coin. Our
silvo! coin increased frooi $65 600, 600
In 1873 10 $26f, 0O0,00O In 1855. 1t ap-
pears from this official table that wo
now have nearly three times as much
gold coin as we have Of silver"
From these figures, 1t is evident that
continued coinage for years would be
required TO equalizo the volumes Of
the two metals. But more direct
bearing upon the issue Of tho posi-
bility Ofsilver running gold out of the
country, il found In another table
and in comment upon
which tho judge says:
,,r.,., ,,i,,. oma,., s..
,,r,, dnS. .r' sh"n, nv, ,na, 'uo meas o
NY oopa' ah, o n1G ,nas ltoi,' tno
M uoh NE mn'on nn ym"eu ,he OH. VI Jaw
lay, ay INV sou ' Wnit Ga" puii,on oAs
iha v',no -, sy Tax oSo anS 49,, ,ba va, ~. VI
gold coin and bullion imported into
.ne oniton SS" Yes oailns we s same az, ooa
Showing n balance In our favor ',n,In,,
tina. time Of Sl0,726,033. .
"This table also shows that during
is1 o o sG ~orih Of eapS'.eT ,oy
and Imported hut slb,6i6,oii, showing
a balance. against US on the silver no
count OF Si4,aw's,a, mus, while our,
have the oii,cisi Ststement wa draw
from other countries nearly $50, OOO, OOC
In gold more than No sent to themi
co,,,,r,s ss' raar,v elk No Sen ' W o.nS,
more than we received from thom,
with the balance OF trade still largely
In our favor, with almost u certainty
10 come Uan,a anv,hinv d = roMs ,.,ao
more thoroughly inc falsity and alb,
snrdity OF tho statcmonts we SEQ ev-
cry uay IA inc nowspapors ana coming
s'vaA h".'ou" e"hAV'o "uu euoiI ~