The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1885-12-18

Z exercise without express restrictive words TO th'
peoples needs aud the requirements OF Inc pun,
lie welfare. Upon this theory the authority u
loan money, as given to congress by the con
s%titution, II ii permits the purchase by the GOV
ernment OF bullion for coinnEe In any event.
does not justify such purchase and coinage u
the extent beyond The amount needed TOT .
sufficient circulating medium. The desire e
utilize the silver product of the country shouio
not lead to q misuse, or the perVerslon or tnis
power. The necessity for such an addition tt
the silver currency Of the nation as Is com
PEELED by
THE SILVER COINAGE ACT,
Is negatiYca by the TACT that up to the present
time only about fifty millions of silver dollars
so coined have actually found their way INTO cir
%cu,ation, leaving more than $3.50, DOC, 600 IN pos,
session OF the government, The custody on
which has entailed a considerable expense fol
The construction OF vaults for Its deposit.
Against this latter amoRnt there are outstanu-
! ing silver certificates amounting to about Ss2,.
OaO. coo, Every month $2.O0o,0o0 of gold III
the public treasury ERE paid out for T2,OOO,oOO
or more of silver dollars 10 be added to the idle
mass already accumulated. II continued long
enough this operation Will result in the substi-
tuition Of silver tc: all the gold the government
owns applicable TO It's general purposes. 1t will
not do 10 RELY upoA The customs receipts of the
government TO make good this drain OF gold, be-
cause the silver colted having been made legal
tender for all debts and dues, rubllc and pri-
yauc, at times during the last SIX months, SIS
per cent Of the receipts fox duties have been In
silver or silver certificates, while the average
within that period has been 20 per cent.
The proportion of silver and its certificates re-
ceived by the government Will probably increase
as Time goes on, tor the reason that the nearer
the rerio! approaches when it VIII be Obliged to
c1ler silver in payment Of lis Obligations, the
greater induccMen: there will be to hoard gold
against depreciation in the value Ofsilver and 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that gold has been withdrawn from circulation,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 u silver dollar and y dollar in
gold, aud the two coins will part company. Gold
-Stlli Tie standard of value and necessary in
our dealings with other countries will be at q
premium over silver, Banks which have snbsti-
tnted gold Tor the deposits OF their customers,
may pay them with silver bought with such
gold, thus making Il handsome profit. Rich
spectators will sell their boarded gold To their
ncighbors, who heed IL to liquidatc their foreign
debts, at rnincus premiums over silver, and the
!aDor1ng men aud women of the land, most de-
fcnscless of all. will find thai the dollar received
for the wages of their toll has been sadly slirunk
IN It's purchasing power. II may be said that the
latter result viii be but temporary and that
ultimately the price OF labor viii be adjusted to
the change. but even il this takes place the wage
worker cannot possibly gain, bu: must ineyita-
DlT loose since the price he is compelled to pay
for his living viii not only be measured in a
com heavily deprecated and tiuctuating and
uncertain in It's value, but this uncertainty i'll
the value of the purchasing medium will be
made Tine prete&t for an advance in prices be-
yond that justified by actual depreciation. The
words uttered IN 1881 ~ Daniel Webster, in the
senate OF the united States, are true to-,iay:
Inc very man of ali others who has the deep
eSb interest INA SUHnd currency, and who suffers
most from nischicyous legislation in money
matters, is the man who earns his daily bread by
his daily toll"
The most distinguished advocate of bimetal-
ism, discussing our silver coinage, has lately
No American citizen had felt the sem
sat!on OF chcapneSs, either i'll receiving or ex- =
pending the silver ac5 dollars, and those who
live by labor or legitimate trade. never will feel
tnat sensation Of cNeapness. However plenty
silver dollars may become, they vii! not be dis
,flbuted us gifts among the people, and If the
n III tnnNl Ahniyii1 An,.f tll. ,,,r-E-
dollars where he now receives but two o, he will
pay IL TIE deprecated coin more than double
tie price he nov rays Tor all The neccssartes
consequences arising from the con-
Llnued compulsory Coinage OF silver as now
by law, and who suppose that the
tended rs Its result, VIII DC a public benefit, are
that history demonstrates that the
polnt j easlly reached il the attempt to float at
he same time two sorts vi money of different
excellence, when the better will cease To he in
circulation. The boarding OF gold which has
already taken place indicates that we shall
lot escape the usual experience in such cases
SO if this silver coinage be continued we NAV
expect that cold aud its equivalent
VII abandon the field OF circulation TO silver
lone. This, of course, must produce n severe
of cur circulating medium instend
adding 10 1t. 1t VIII not be disputed that any
tempt on the pnrt of the government 70 cuuse
ne clrcul alton Of silver dollars worth 20 cents
idc by side with gold dollars worth 100 cents
ven with the limit that legislation does not run
ounter TO laws OF trade, to be successful, must
seconded by the confidence Of HE nonnIe th,r
10Th coins Will retain their IN Inc Iurclasjnr
over and be interchangeable at will. Special
fort has been made by the secretary Of The
10 increase the amount of our silver
ON IN circulation. but the fact that a largo
hare of the limited amount thus put out mas
con returned to The pubic treasury in payment
duties leads to the belief that tho ,,.o,,Lo 10
OF now desire to keel, it in hand: and This with
he evident disposition to hoard gold, gives
ss TO the suspicion that there already
Slsls lack OF confidence among
Ne people touching our financial proce..a.
mere Is certainly not enough silver now in cir
NATION TO cause uncasiness, and the whole
mount coined and now on hand uirbt aftera
me. be absorbed by the people wlthort anrra.
cnsion, But 1t Is the ceaseless stream that
lfeatens TO overflow the land which causes fear
az uHcc!taintv. what has been thus far sub
i'1ten upon TINS subject 1elates almost entirely
CONSIDERATIONS OF a home nature, unconuected
TN the bearing which the policies of other ma
o nave upon the question. But it is per
CITY apparent that a line of action in regard to
II currency cannot wisely be settled uDon or
stsistcd IN without considering the attitude OF
suDJeci OF other countries with whom we
a,htaln Intercourse through commerce, trade
~ travel. An acknowledgment of this fact
found IN the net b. virtue of which our silver
Coinpuisoriiy coined. 1t provides.
The president shall invite the goyernnc,tso,
countries comprising the Latin union. so
lieu, ana OF sach other European nations ms
may deem advisable, to join the United
ates III d conference TO adopt Il common ratio
tween gold and silver tor the purpose of es-
DiishiiiZ internationally the use OF himet,Ilic
oncs anu securing nAity of relative value be-
,ccn those metals"
THIS conference absolutely failed, and a sim
lase mas awaited all suhacquent offers in the
ihs aitecslon. and still we continue cur coin
Q OF s'lVer at a ratio different from that of
y other natlon. The most vital port OF the
yer coinage act remains imperative aud un-
t ~. nlm ana "ithont an ally or friend. We
upon the silver field in an illogical and
sing contest. To give fun effect to the design
congress on this subject / have made careful
2 last congress.
REFERS TO MR.. MARBLE
80 ms no qcieeated Il gentleman well III
.uceea IN 1sGai science to proceed to the imam
ccaters OF Europe, and in conjunction with
I ministers to England, France and GERMANY
ontala a iuil Hnowlcdge of the attitude and
'a ahiis 81 enese governments in respect of the
.ap,shiheht OF such an international ratio as
procure frec coinage of both metals at the
nus OF those countries and our own. By nv
eo q y our consul general at Paris has given
aeIentlon 10 the proceedings of tho CON
of the Latin union in order to Indicate
interest IN It's objects and report its action.
III ,hs sa,a a. IN btiet, as the result OF these
MAINS substantially unchanged since the
.hetary conference OF 1881, nor is it to be
o" are .n sn,n one views OF these govern
bic opinion. The views thus taken have
only more fully demonstrated the nass
.ness VI durther attempts at present to arrive
any agreement on the subject, with other "
ions. In the meantime we are acc,,mulating
'er coin based upon our own peculiar ratio to
N an extent, and assuming so heavy u burden
De pfovided for in any international negotia-
as VIII render us an undesirable party to
future monetary conference of nations
> a slshificant fact that four of the five coun-
composing the Lat n union mentioned in
coinage act, embarrassed with their silver
tchcy, nave Just completed an agreement
eng themselves that no more silver shall be
ieu ~ tlelr respective governments, aud that
II as mas bee already coined and in circuln-
l shaH be redeemed III gold by the country OF
coinage: Inc resort TO this expedient by
countries may well arrest the attention OF
VINO suppose that we can succeed without
ck or injury in the attempt to circulate uuon
lHciles an The silver we may coin under the
VISIONS OF our SILVER coinage act. The condi-
m winch our treasury may be placed By
in our present course is a matter
'uncefh 20 every patriotic citizen who does
"esife ms government to pay in silver such
IS onlleations as should be PAID in gold. Nor
hla our condition be such as to obliEe us, in
ruueMG management OF uur aifai-s - liz