Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1885-08-22
A sTRON LETTER.
Something for silver Men TO Read
and Ponder.

The following forcible letter on the sil
yer question, written from New York IN
der date of August 10, appears in a lat
issue of the Tuscarora Times-Review. /
presents the case in o new light an,
deserves the earnest attention of tn
friends Of silver everywhere. Says tn
lswriter: Allow me to call the attention o
your readers, The silver men OF Nevada
to the fact that the daily quotation
cabled from London to New York of th,
price Of silver are actually based on thu
forced and fictitious value of gold. Eng
land, with her gold interests in Australia
protects her gold production by a forced
and fictitious value Of gold, compelling
the Bank of England to purchase all the
| gold offered ut the fixed rate of f3 It's Sc
per ounce standard, with the proviso thai
all purchases be paid for in Bank oil
England notes. Having thus fortified her.
self protectively she uses two dollars In
silver to one dollar in gold, and to do this
well il becomes q necessity on her part to
| depress silver, which, owing to the genera
ignorance that gold has a fictitious and
forced so-called fixed value, she is allowed
TO quote silver by that forced value OF gold
| and our fnanciers take il for gospel that
silver, owing TO the quotations in London,
has declined in value.
To.dsy's quotation from London is 40k d
per ounce Of English standard 925 ~fneness,
| which 10 equal to ST. 90 470-1000 per ounce
| American standard 900 fine, and az the
New York Tribune and the New York Even.
ing Post have il, SO cents is the value OF
the Bland silver dollar Of 412k grains.
How long are We silver men to stand this
Misrepresentation Of the New York dailies?
That their editors know better, nobody
who has any sense left doubts, but il poi.
sons the mind Of the masses, who believe
that they are imposed upon by II cents on
each dollar. LIZ it a wonder then that sill
yer money is looked upon with some sort
of suspicion, when a lie, well told and
stuck to, is as good as the truth and on a
par with the principles of these editors?
When several years ago I stated in the
preface of my works on gold and silver
coins, that gold has q fictitious as well as
forced value, / was soundly abused by the
New York and Philadelphia newspapers, l
therefore addressed a letter to the Chief
Cashier of the Bank Of England, requesting
him to state the actual facts. In reply l
received the following letter:
BANK OF ENGLAND,
LONDON, E. O., Feb. Is, 1880.
Ivan @. Michels-Sir: / beg to scknowl-
edge the receipt Of your letter Of the 9Th
instant, and have much pleasure in enclos-
| ing a copy Of the section of the Act OF Par.
~liament-7 and 8 Vic. Cap. 32-which com-
| pels the Bank of England to purchase gold
bullion "a f3 It's Cd per ounce standard.
R. MAY, Chief Cashier.
Here is a copy of the Act of Parliament
sent to me by courtesy Mr.. R. May. Chief
| Cashier of the Bank Of England.
Act It'll and 8th Victoria, Cap. 80, Sec
ton A..
"And be IL enacted, that from and after
the 3lst day Of August, 1874. all persons
| shall be entitled to demand from the Issue
Department Of the Bank Of England, Bank
Of England notes in exchange for gold
bullion, at the rate Of Three Pounds Sew.
| enteen Shillipgs and Nine Pence per
ounce Of standard gold"
Standard gold Is OF % carats fine, or
9i69 fineness American standard measure
ment Of value.
Now, il this is not q forced or fictitious
fixed value for gold, I would like to know
what else it is. And yet by this forced
value we allow England to quote American
silver at the London exchange and allow
il to re-echo in this country; aye, even the
| Congress Of the United States enforced
upon the Director Of the United States
Minis to purchase silver al the price quot
ed in London.
Innocent as this little game of England
appears TO the casual observer, the true
state of affairs shows the duplicity OF the
gold mono metallists and the profit there
from to Great Britain is Let
us take the years 1881 and 1882, OF which
/ have official returns from British India
and England returns Of July 25th, 1884
also official.
Gold in circulation in England, 1888,
SOC, 900, silver, sos, 900 900; in British
India, gold, none, silver, S1,O97, COO; q
total OF 81, 1872. 000, 900 in silver, against
S5S3, 500, 900 in gold, and yet they boast Of
their gold standard
But this is not all, her coinage for Indii
for 1881 and 1882 amounted to lat, 1896, 67t
rupees in silver which she passed for full
face value OF 2 shillings. English, pei
rupee, making 1t in our money ST. 1885
766 65, full face value, when according II
the artificial depression OF silver, England
was able to buy the silver at 3Sss pei
rupee. leaving her a profit Of Sl4.793
367 76, a profit worth while fighting fol
and that profit comes out Of American
silver miners. Think 1t we'll over, gen
tlemen OF the silver region of the United
States, ponder over it awhile and refec
we'll how long you wan to be used as tn
cats paw Of the English monkey. Let tn
people in your region study these figure
we'll; perhaps they will learn a lesson, al
though dearly paid for. yet worth while t.
remember. What are your Representa-
tives in Congress doing2 Do they know
this true state of affairs? doubt it'll II
fact, 1 know that not one In q hundre'
knows, bankers and other fnanciers yer.
much included. that gold has q forced an
fictitious value for the protection of tn
! English gold standard and her gold mine
; in Australia, and yet all at the expense o
the United States silver miners. A deplor
able, yet only true picture OF the presen
state OF the silver question!
IVAN O. MIoHELs.
I The Pefrifed Giant II Fraud.
ESPECIAL TO THE s~xNTINEL.l
Victoria. B. O., Aug. N.-The pstriie'
1;ank c,ovas N ha q Oi0antio fraud. /