Telegram-herald., 1886-04-25

fns proceedings s'f Congress daring
the past fss weeks fall, demonstrate that
any EFFORT to suspend ths coinage Of sill
ssr wiii hs futile. This Is psssslng IN
formation, and ought 10 make the heart
Of every eitiEsn OF Michigan glad. A
Senator os the United States, who was
q candidate reesntls for one of the high
sst Offices in the gift Of the people. lately
stated that he had mast red the financial
question ia a weeks study. This game
gentleman il was who short time ago
concluded speech In the Senate with
Lay 90 MacDuif. aud bs he damned
who first cries. Hold CD I've got
enough" II SO were to test his knowl-
edge OF finance b. his degree OF familiar
ity with the writings OF the great dra-
mstist, We ought mol to be surprised at
the lackastinai jasson that occasionally
enanates from the thick skuiIsd pate Of
an honorable Seaator, dsnouina,ed "A
solution OF the Silver Question"
Candiily, the matter of the suspension
of the silver coinage is Que OF vital
moment, and never more So than when
the creditor class seek 10 contract the
volume of money, aud thereby enhance
the burden of all dsbte; which is the con-
dition of things at prcsent To with
draw the governments monthly demand
OF about two million dollars worth Of
silver. which suspension OF coinage
would do, would further depreciate
the bullion value OF the sill
yer dollar, and We should be
swept on to the pandenionium of q gid
standard, with fearful velocity. II that
time should come, when the estima-
ton of all debts. national, st tie. muni-
| cipal and individual, should be computed
on the basis of the valus of the gold dol
lar, the result could not fail to be the
most disastrous imaginable. The bur-
or private, would then bs increased at
least-20 per cent; aud the man who, in
former times. had borrowed 500, would
DO called upon TO repay his loan in
money worth Sl20 Ii does not take
much reflection 10 conceive the far
reaching havoc such a policy might bring
upon us The principle argument
used by the gold bugs" is, that be-
cause the intrinsic value OF the silver
dollar is but about eighty cents in gold
that great danger exists lest We should
be reduced To silver standard, and
thereby depreciate the earnings of all
wage-workers, and appreciate the prices
of all commodities. That state of things
would be deplorable; but, is it likely to
happen? Most assuredly no; if We are
to be guided, IN that assertion, by the
facts. That no such condition exists now
is complete answer to such theoretical
sophistries. The intrinsic value OF the
silver dollar is something less than eight,
cents today; the government is coming
from two to three million dollars wortf
of silver month, aud ia the face OF al
this, the silver dollar circulates side by
side with the one of gold, which is III
trinsically worth twenty cents more
These facts are worth volumes of coDjec
ture. We know we have silver and gols
coins today, and each is an equal medium
OF interchange with the other, and eacl
equally as much of a legal tender as tn,
other. Why, then, is it necessary I,
commence the cry OF "Wolfr' vhel
there il no wolf Our amount OF silve
circulation is not at all proportionate Il
thss of many other equally importan
nations. 1t We're far better to put VI
with the trivial embarrassments OF AN on
forced coinage of silver, aud to "bea
those ills we have, than fly to others tina
we know not of.
1t is idle Tor the anti-silver advocate
TO say that the present coinage act i
continued entirely in the interest OF th
bonanza silver kings, who have tons o
silver to dispose OF. II has further
reaching effect than thsi; it involves th
prosperity and happiness OF large nnm
Der of our citizsns. and the well being O
. the government. The suspension of sill
yer coinage would greatly benefit th
, bondholder aud the creditor, by enhanc
, ing the value of his securities 20 per cent
bat OF that class, the majority of the peo
, Pile in the great West are not composed
And il ia not for the Eastern banker
and capitalists we speak, when we sa
. we relish the news from Washington
that all efforts to demoDetizs silver unde
the cloak of a suspension of coinage, ar
likely TO fail.
sPLI<TERED JEWELS.