Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1885-12-12

peoper remuneration furnish the most
juBti0able pretext for a protective policy
within these limitations. As certain re.
4duction should be made in our customs
l1revenue, the amount of such reduction
having been determined. the inquiry
lblloWs, where can it best be RENTED,
and what articles can best be exempted
from duty in the interests of our citizens.
The reduction should be made in the
revenue derived from tax upon the inn
ported necessaries of life. We thus di-
Tectly lessen the cost of living in every
family of the land, and extend to the
people in every humble home larger
measure of the rewards of frugal indus.
try.
NATIONAL BANKS.
During the year ended November LIST,
1856, one hundred and forty five nation
a banks were organized, with an aggre-
gate capital of Sl6,93S,o00. Circulation
notes have been issued to them amount
/. ing to $42, 749, 100. The whole number
Of these banks in existence on the day
above mentioned was 2,727.
The very limited amount If circulating
notes issued by our national banks COM
pared with the amount the law permits
them to issue upon deposit OF bonds
for their redemption, indicates that the
volume of cur circulating medium may
be largely increased through this instru-
mentality. Nothing more important
than the present condition of our cur
rency and coinage can claim your atten
ton.
q SILVER COINAGE.
Since February, 1877, the government
has, under compulsory provisions OF
law, purchased silver bullion and coined
the same at the rate of more than 81, 000,-
600 every month. BY this process up to
the present date $2l5, 759, 435 have been
coined.
CONCERNING THE COINAGE.
A reasonable appreciation of delega-
ton of power to the general gov
\ eminent would limit its exercise
without express restrictive words
the peoples needs, and the re-
quiremenis of the public welfare. Upon
this theory the authority to coin money
is given to congress by the constitution.
lift permits the purchase by the gov
ment of bullion for coinage, it in any
event does not justify such purchase and
coinage to an extent beyond the
amount needed for sufficient circulating
medium. The desire to utilize the silver
product of the country should not lead
to q misuse or aperversion of this power.
The necessity for such an addition to
to the silver currency of the nation as
is compelled by the silver coinage act is
unsatisfactory, from the fact that up to
the present time only about fifty mil
liens of silver dollars so coined have
actually found their way into circula-
ton, leaving more than one hundred
and sixty.fi millions in possession of
the government, the custody of which
jhas entaIled considerable expense for
1.-THE construction of vaults for its deposit.
Against this latter amount there are out
standing silver certificates to the
amount of$93, 100000.
Every month two millions of gold in
tie public treasury are paid out for two
millions or more of silver dollars, to be
added to the idle mass already accumu-
ated. If continued long enough, this
operation will result in the substitution
of silver for all the gold the government
owns applicable to its general purpose.
It will not do to rely On the custom
receipts of the government, the silver
thus coined having been made legal
tender for all debts and dues, public and
private. At times during the last six
months, So per cent. of the receipts for
duties have been in silver or silver GER
tifcates, while the faverage within that
period has been 20 per cent.
The portion of silver and its certificates
receiEeS by the government will proba-
bly, increase as time goes on, for the rea-
son that the nearer the period approach
es when it will be obliged to offer silver
in payment of its obligations, the greater
inducenent there will be to hoard gold
against the depreciation in the value of
Jsilyer for the purpose of specializing.
This boarding of gold has already begun.
When the time comes that gold has been
withdrawn from circulation, then will be
apparent the difference between the real
value of the silver dollar and dollar in
gold, and the two coins wsll part COM
pany.
Gold, still the standard of values nee
essary in our dealings with other coun-
tries, will be at premium over silver.
Banks which have substituted gold for
the deposits of their customers, may pay
them gold thus making a handsome
profit. Rich SPECTATORS will sell their
boarded gold to their neigbbors who
need it to liquidate their fereign debts at
q ruinous premium over silver; and the
laboring men and women of the land, the
most defenseless of all, will find that the
dollar received for the wage of their toll
has sadly shrunk in its purchasing power.
It may be said that result will be but
temporary, and that ultimately the
q ice of labor will be adjusted to the
= nge. But even if this takes place,
, . wage worker cannot possibly lose,
Ence the price he is compelled to pay
for his living will not only be measured
in q coin heavily deprecated and fuctu-
ating and uncertain in its value, but
this uncertainty in the value of the pur-
chasing medium will be made a pretext
for an advance in prices beyond that
justified by actual depreciation.
The words uttered in 1884 by Daniel
Webster in the senate of the United
States are true to-day. The very man
Of eli others who has the deepest inter-
est in sound currency and who suffers
most by mischievious legislation in
money matters, is the man who earns
his daily bread by his daily toll. The
most distinguished advocate of bimetal-
ism in discussing our silver coinage has
lately written: mo American citizen has
yet felt the sensation of cheapness,
0atuoF Al receiving OF eXponQlnR
the silver act dollars;
and those who live by labor or legitimate
trade never will feel that sensation of
q lness, however plenty silver dollars
d1An become. They will not be distrib-
uted'as giftsamong the people, and if the
laboring man should receive four depre-
ciated dollars where he now receives but
two, he will pay in the deprecated coin
moro than double the price he now pays
for al the necessaries and comforts of
life.