The Mineral argus. [volume] (Maiden, Mont.) 1883-1886, 1885-12-24

keep il ON hand. What has been thus far
submitted upon this subject relates almost
entirely to considerations of "a home nature.
but it is perfectly apparent that a line of
| action in regard to our currency cannot
wisely he settled upon or persisted in with
out considering the attitude of other co,in-
tries with whom We maintain Intercourse
through commerce. trade and travel. An
acknowledgements of this fact Is found i'm
the act by virtue of which our silver is
comPulsorily coined. II provides: The
president shall invite the government Ofthe
countries comprising the Latin union. so
called, and of such other European nations
as he may deem advisable, to join the
United States in u conference to adopt u
common ratio between gold and silver for
the purpose of establishing internationally
the Use Of bimetallic money and securing
fixity Of relative value between those
metals This conference absolutely failed.
and similar fate has awaited all subse-
quent offers in the same direction, and st i'll
We continue our coinage Of silver at ratio
different from that of any other nation.
In the meantime we are accumulating sill
yer coin based upon our own peculiar ratio
To such an extent. and assuming SO heavy
burden To be provided for in any inlerna-
tional negotiations, us will render us an
undesirable party to any future monetary
conference OF nations. 1t is significant
Tact that four of the five countries compos-
ing the Latin union have just ompleted an
agreement that no more silver shall be
coined by their respective governments, and
that such as has been coined and in circula-
tion shall he redeemed in gold by the
country Of its coinage. The resort to this
expedient by these countries may we'll ar
rest the attention of those who suplwse
that We can succeed without shock or injury
III the attempt to circulate upon its merits
ha "a III.
visions of our silver coinage act. The So
called debtor class, for whose benefit the
continued compulsory coinage of silver is
Insisted upon, are not dishonest bccailse
they are in debt, and they should not be
suspected OF desire to jeoparlize the tinan-
cal safety of .he country in order that they
may cancel their present debts by paving
the same in deprecated dollars. Nor should
it be forgotten that it is not the rich nor the
money lender alone that must submit to
such readjustment forced by the govern
nnent and the debtors. The pittance of the
widow and the orphan and the incomes of
helpless beneticiaries OF all kinds would be
tisastrously reduced. We have now on
hand all the silver dollars necessary to sup
ply the present needs Of the peOple and To
satisfy those who from sentiment wish to
see them in circulation; and il their coin
age Is suspended they can be readily OBJ
tanned by all who desire them; il the need
of more is ut any time apparent, their
coinage may be renewed. That disaster has
not already Overtaken us furnishes no proof
that danger does not wait upon continua-
tion OF the present silver coinage. We
have been saved by the most careful man
agement and unusual expedients by com
bination of fortunate conditions, and by II
confident expectation that the course of the
government in regard to silver coinage
would be speedily changed by action oi
congress. Prosperity hesitates upon our
threshcI becaOe of dangers aud uuc'. :
tainties surrounding this question. I rec
ommend the suspension of the compulsory
coinage of silver dollars, directed by the
law passed in February, ISIS.