The Mineral argus. [volume] (Maiden, Mont.) 1883-1886, 1886-03-25

crate lear OF eucn result W0eu IL II
known that Europe has no supply OF silver
except its coinages, in which the silver Is
rated about per cent higher than IT Is In
our standard dollar, and more than 20 per
cent. higher than could he obtained for II
In our markets. Our circulation Of paper
or silver does not approach an equality 10
volume with other commercial countries,
and until it il above and beyond Q proper
proportion of such our prices can never
10 inflated above the prices abroad, so as
to cause balance of trade against us.
II VIC would give stability. dignity, and
value TO our silver production cOmmensu-
rate with the importance of that industry
to the United States without impairing the
quantity or intrinsic value of gold, 1t Is
essential that new departure shall be
taken by the Executive aud Treasury
officials. Instead of q policy which seems
to be I'm organized system of assault snd
c0nst quent depreciation, the opportunity
should be seized upon to follow plain
direction that has the sanction and validity
of law to support it-One which since 1873
has been trampled underfOOt and defed
with boldness and determination that
brings back the memories OF other days
when notification in another form threat
cned this country.
-
made ia pursuance Of law, are published
to the world they are clothed win verify
and authenticity which are well calculated
TO inspire confidence in the public of the
absolute tru;hfulness Of their report.
And SO 1t is that a sentiment has been
nodded in certain quarters based solely
upon such reports that the aggregated sill!
yer of the country can find no circulation,
and hence its lOdgment in the Treasury
and sub-treasuries of the United States;
and that further coinage is folly and ex-
travagance Such q statement is illusOry
aud misleading. 1t is incOnteslibly true
that there are SO in silver coin 10 one in
gold coin in actual circulation among the
people, and that three fourths of the silver
dollars now in the Treasury are represented
by silver certificates ia actual circulation
10 the business Of the country.
AMot Mt OF MONEY REQUIRED ~ rni- COUNTRY.
We have now of gold and silver. SFsi.uo."0
hted States notes -.'-.-.. ....-'--. 3sots $1,000
National bank notes. .............. &C.. JlsiHh.rh
Fractional currency, aboiIt.... ........ ..pp.tEp
Total money for Go.gaHo people. 30. i,iai,0o,""
or sri per capital This l. none too much. AZ the
population and busin. - increase We shall need
more, not less. France, much more compact
country than ours, and the soundcst country in the
world financially, and republic, has in addition To
it, sap.VsuD of gold and .ias,En,hD of silver he
tween S.ssl.nn,in and c'su.bsD OF paper,
making 4 total Of -s,sn,tH,,"o This IL S5s per
capita of her population. or twice a. much a. We
have She does not ind that too large sum. We
should not If We had II.
We certainly then, have not too much MONEY
now and To- avoid disaster must TAN" care tlaf
it, volume l. not reduced.
For these figures and estimates am in
debtcd 10 Mr. Dexter n. Hawkins, of New
York, a gentleman OF much learning upon
this subject.
These Considerations arc enough to adj
monish us that We have not reached within
fifteen years of the lime when, at the PRES
ent rate Of coinage, the question oil sus
pension can be seriously considered. The
gentleman from Maryland tMr. Findiayl
was disposed TO complain in his recent
speech because the Government was com
PEELED to furnish a market under existing
law for 81, O00, 600 of silver per month,
and characterized it as form OF protec-
ton which no other commodity received IN
this country.
Some practical individual once defined
Law 10 be: THAT which is confidently as
serted and plausibly maintained" 1he
correctness OF the gentleman : statement
cannot be measured by any stronger rule.
Iii this was protection i. would seem that
silver ought To thrive and prosper under
the protecting pgis of the Government.
But everybody knows that the contrary is
true, and that every time i, contracts and
shrinks il can be traced to the assembling
and illusory touch of the Government.
Why. sir, instead Of silver being bur
den and accepting the so-called protection
of the Government, it has been loaded
down with a weight Of seigniorage until IL
has become an actual investment for the
country, out Of which the government has
made net profit of S25, l22, 1Si 30 since
July I, 1879. for its coinage. As proof OF
this statement submit the following from
the last report of the Director Of the Mint.
pages and 0:
sEIsNIoEAGE on SILVER COINAGE.
Ari-ine from seigniorare on silver coiuare, Their.
were in the coinage minis at the close of the fiscal
year moneys amounting TO Sl.l.. fisn known az
the silver profit fund, which had not been deposited
in the Treasury.
The seieniorage on the coinage of silver dollars
during the fiscal year was St5,:.s.9i, and on sub
sidiary silver coined at Philadelphia $40, ~" 81:
total for the year Of Si36, 1855 of this amount,
the of al. 55f II paid for expenses incurred
in the distribution Of the coin (Ss M y being paid
the express companies, and St.3Ji6 for bags,
basgnr. &C., and Si35 q, for telegraphingl.
The sum of SD,rss.:S form the same fund was
ased To- reimburse the loss arisin. from the silver