The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1885-08-06
The Silver I :ligbear.

The New York s MI dosnc't scare
at the silver bugbcs r. In length,
article on the subject it shows how
nothing has ever come ont Of the
dire prophecies Of the advocates Of
a gold standard, and then asks
"What would DC the result il tl,c
treasury should pay ont 10000
900 or $40, 100000 III silver for
interest on the national debt. Simp-
ly this: Thorc would lie added
&c. 100000 or $4,000, 900 to the
$40, 900, 900 Of silver now in cir
culation, and it would have about
as much effect upon tho relative
values Of gold and silver as the
pouring Of a cup Of water into a
well would have upon its level. The
currency cf the country, as cstimat-
cd by the comptroller Of the cur
rcncy in his last report, was made
up rs follows:
Gold coin and bullion. S585.G11 .S72
silver coin. 5,735, 439
Loyal tender notes. 346,6S1 ,O16
National bank notes.. 333, 559,S13
Total. ...... 81, 541 ,5Ss, 40
This shows that the 100000
900 silver dollars now issued form
only about . per cent. Of tho total
circulation, and that the $40, o0O,-
600, the paving ont Of which Is 50
much dreaded, would add only IL
per cent. to that total. Does any,
body in his senses contend that this
trivial increase would produce |,
noticeable 1ffccts''
In answer to the assertion that
the public would get frightened
and begin to withdraw gold from
the treasury and thus create mon
etary stringcncy, it is enough ia say
that if such q run Cor gold should
be commenced, it would as speedily
stop when it was found that the de-
mand for gold was met by the offer
Of legal tenders and Of silver dollars.
Capitalists could not organize the
colossal conspiracy which would be
required TO bring about panic
without iniic,ing SO much injury
upon their Own property that they
would not undertake it.
In discussing this subiect, the
Pittsburg Post says: Besides sup
posing that by any means a con
siderable sum Of gold was got to-
gether and boarded, no profit would
result. Nobody in this country
would buy the metal and nobody
in Europe could buy it. It is not
like the case Of grcenbacks during
the war. Then everybody feared
and many believed that the paper
money Of the country would, like
the old Revolutionary currency, be
ultimately repudiatcd and become
worthless. Consequently they has
tened to exchange It, not only for
gold at 4 great premium, but also
for merchandise and property Of
any kind at enormous prices. Sill
yer dollars, OH the contrary, are
worth rs bullion ut least eighty
three cents in gold, and 80 long as
their coinage is restricted to 81
100000 month, they will lie
maintained at par with the gold
dollar. This is the restricted coin
age in the Latin union, and the rule
holds good in this country"
"Undonbtcdly in the course of
ten or twelve years more" says the
Sun, ''thc supply of silver dollars
will have driven gold out Of use,
our minis will probably be thrown
open for the free coinage Of silver
dollars and the silver standard will
supplant the gold standard. This
event, however, is too far off to
produce any effect ut present, and
when Il finally happens the result
will not be shock and Il panic,
but a transition as quiet as that
which marked the resumptio. Of
specie payments six years ago.
[St. Paul Globe.