The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1886-07-16
as A MATTER OF POLICY.

1t will surprise the silver producer
and the western public generally, to inC
the Tribune expressing the thought tina
1.-The proposition to pay of the bonds O
the United States in silver is q mistak,
as matter of policy" Our morning
contemporary has professed itself the
earnest champion of silver, and yet
when a proposition comes up to utilize
silver, to give it the value which is
stamped upon the coin, the Tribune
opposes it, as a matter of policy. be-
cause lit gives the oddities an excuse
for saying that it is 4 move fayoring
reputation, that by it g silver basis for
our currency is intended, and plenty
more just such meaningless charges"
The position is a remarkable one. The
silver editor Of our contemporary must
have been out Of town when Thursdays
paper was made up.
If our bonds cannot be paid il
silver coin as we'll as in gold, then the
gold,tes are right in their fight against
silver. The struggle of the silver men
has been to bring silver pledges on an
equal footing with gold; TO have silver
dollar worth as much as a gold one, in
its purchasing power and in its debt
paying power. If silver has not reached
that point, then the fight for the metal
has been failure. and the oddities are
complete masters Of the situation. The
first proposition looking to the giving
of life and effectiveness to the Bland
law, by making the silver dollar worth
one hundred cents everywhere in the
republic is this one for the redemption
of the bends with the coin, (silver if it
happens to be silyer) that is lying idle
in the vaults of the treasury. If this is
bad policy, It is not good policy to go on
coming silver to be piled up and
guarded. II the coin cannot be used 1t
is only a question of time when the
coinage must cease notwithstanding
the imperative command of the law. for
government will be without the gold to
pay for silver bullion. The only value |
that any coin can have is its purchas- !
il or paying value, and to say that |
silver should not have that value with /
reference to government bonds, is TO |
deDreciate the metal as much as legisla-
ton can depreciate it. Silver is q legal
tender equally with gold, everywhere
in the republic, except for the redemp-
tion of the governments bond obliga-
lions; it is, as a matter OF law, a legal |
tender as to those, but it has so hap
pened that enemies to silver have long
stood at the head Of the Treasury, and
as a consequence the metal is. by non
use, deprived of part of its legal value;
it is not given an eQaai chance with
gold. and our cotenporary thinks it
will not be god i'blicy to give It an
equal show, because it would give the
goldites an excuse for presenting
nneaningless Gu rges.'' The Tribune
has certainly been guilty OF a blunder
IN this matter.
Individuals tind il most convenient TO
pay their debts when they have the
money, and if they are honest they
have 1t NO interes .-bearing obligations
which they have DE money in tn. ssfe
to take mp. Thessme rule should fol-
low with gOverlIh ents. The treasury
Is carrying sn immense balance OF
coin, which is idle in the vaults. when
hsr Oh "A y. 4
redemption of the Understanding
bonds. The resOlution which passed
The Hsuse of Repre- Ants;ives on Wed.
nesdsy is intended 70 compel the sec
retary Of the Treasury to do what the
good fnancier does not have TO be told
10 do-to reduce the interest-bea.ing
debt as fast as 1t can be done without
njuring the credit sof the government.