St. Landry democrat., 1885-12-19

TO the currency OF the country tntcnueo No
Its result, will be public benefit are re-
minded that history dem onstrates thas Sle
point Is easily reached IN the atteh2 ~ ~
float at the same time two soreS az %
money of different excellence when the
better will cease to be in circulation Ihe
boarding of gold, which has already taken
place, indicates that we shall no. e5et'2e + S,i
usual experience In such cases 80 II tnls
silver coinage be continued we may reason,
ably expect that gold and its equivalent VIII
abandon the field OF circulation TO silVeE
alone. This, Of course, must produce It
SEVERE CoNTRAC rION OF our CALCULATING
MEDIUM
iustead of adding to it. 1t will not be dis
puted that any attempt on the part OF ting
Government to cause the circulation or sil'
yer dollars worth eighty cents, side by 81 ie
with gold dollars worth one hundred cents.
even with the limit that legislation does not
Fun counter TO the laws OF trade, TO Oa sue
cessFul must be seconded by the confidence
OF the people that both coins will retain the
same purchasing power and be interchange (
able at Will.
A special effort has been male by the Sec
rotary OF the Treasury to Increase tins
amount OF our silver coinage in circulation
but the fact that u lar re share of the limited
amount thus put out has soon returned &c
the public treasury in payment Of duties
leads to the belief that the people do not de-
sire to keep it in hand, and this. with the evi"
dent disposition to hoard gold, gives rise &c
the suspicion that there already oxists u
lack or confidence among the people touch-.
ing our financial processes. There is Ger
tainly not enough silver money in oircula-
ZION 10 cause u0enSin6S5, an Gil0 WHO'LL
amount coined and now on hand might,
after time, be Absorbed by tho people
withou: apprehension, but it is the cetseless
stream that tnreatenS to overflow the land
which causes lear and uutaStnes5.
WHAT IN OTHER: COUNTRIES
has been thus far submitted upon this sub
ject relates almost entirely to considerations
of a home nature, uneonnectei with the
bearing which the policies OF O GIler nations
have upon the question, but it Is perfectly
apparent that a line OF action in regard tc
our currency can not wisely he settled upon
OR persisted in without cOns!d ering the att,
tude on the subject of other countries witt
whom we maintain intercourse througk
commerce, trade and travel. An ac.
knowledg ment of this fact Is found in the act
Ivy virtue of which our silver Is GOmpulsOriiy
coined. 1t provinces that tho President shall
invite the governments OF the countries
composing The Latin Union so Called and OF
such other European nations az he may
deem advisable, to join the United States in
conference to adopt common ratio be
tween gold and silver, for the purpose o!
establishing internationally the uso OF BIZ
metallic money md securing fixity OF rela-
tive value between these metals. This con
ference absolutely failed ami similar fate
has awaited oil subsequent efforts in the
coinage of silver at q ratio different from
that of any other nation. The most vital
part of the silver coinage act remains mop
erativc and uuexecuted and without any
ally or friend. We battle upon the silver
Reid in
AN ILLOGICAL AND LOSING CONTEST.
TO give full effect to the design of Con
gress on this subject l have made careful
and earnest Cndeavor since the adjournment
of the last Congress To this end delegat
cd q gentleman we'll instructed in fiscal sci
ence TO proceed to the financial centers OF
Europe. and, in conjunction with our Minis
ters to England France and Germany, to
obtain full knowledge of the attitude and
intent of these Governments in respect to
the establishment of such an international
ratio AS would procure free coinage of both
metals at the mnts OF those countries aud .
IV direction EnnS1II- Can
ecal at Paris has given CLOSE attention to the
proceedings of the
CONGRESS OF THE LATIN UNION,
in order to indicate our interest Inits objects
and report its action. 1t may be said in brIeF,
as the result of these efforts, that tho attf-
tude of the leading powers remains substan-
TALLY unchanged since the Monetary Confer
ence of 1884, nor is it to be questioned that
the views of these governments are in each
instance supported by the weight OF public,
opinion The steps just taken have, there
fore, only more fully demonstrated the use
lessness of further attempt at present to ar
rive ~ any agreement on the suoje.t with
other nations. In the meantime, we ara &c
cumutating silver coin, based upon our own
peculiar rates, to such an extent ami assum-
Ing so heavy burden to be provided for In
any international negotiations "a will render
us an undesirable party to any future None
tary Conference OF nations
1t Is a significant tact that four OF the five
countries composing tie Latin Union men
toned in our coinage act as embaEraSseE
with their silver currency have just com
pleted an agreement among themselves that
no more silver shall be coined by their re-
specttve governments and that such RS has
been already coined and in cr1 natiOn shalt
be redeemed in gold by the country OF its
coinage. The resort to this expedient by
these countries may well arrest the atten
ton of those who suppose that we can su0-.
coed, without shock or injury, in the at
tempt to circulate upon its merits,
under the provisions OF our silver coinage
act The condition in which our Treasury
4 ft,EF,
ent co urse,is matter of concern to- every
patriotic citizen who does not desire the
government to pay in silver anch OF its
obligations as should be paid in gold: nor
should orr condition be such as to oblige as.
in a prudent management OF our affairs, to-
discontinue the calling in and paymeat OF
interest bearing obligations, wnich We have
the right now t. discharge and thus avoid
the payment of further interest thereon.
THE DISASTER THREATENED.
The so called debtor class, for whose bene-
fit the continued compulsory coinage of sill
yer Is insisted upon, are not dishonest be-
cause they are i'll debt, and they should moi
pc suspected OF = desire 70 1oopar9ilze Sne
they may cancel their present debts by pay
ing tile same in depreciatcd dollars; nor
should il be forgotten that it is not tho rich
nor the money lender alone that mast sub
nit to such a REIMBURSEMENT, enforced by the
Government aud their debtors. Ihe pittance
comes of helpless beneiiciares OF all kinds
would be disastrously reduced.
ENOUGH SILVER ON HAND.
The depositors in savings banks, and other
institutions which hold In trust the savings
of the poor, when their little accommodations
arc scaled down to meet the new order of
things, would, in their distress, painfully
realize the deuson of the promise made to-
them that plentiful money would improve
their condition. we have now ON hand all
the silver dollars necessary TO supply the
present needs of the people and to satisfy
those who from sentiment wish to see them
in circulation, and il their coinage is sus-
pended they can be readily obtained by
all who desire them If the need of more
is at any time apparent. their coinage NAV