The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-08-04
SILVER DOWN AGAIN,

The advocates OF the silver dollar
coinage, when proposing that meas
ure, declared that it would 30 affect
the worlds markets that tho price OF
silver would appreciate to its former
ratio with gold. This appears to be
one of the rules that works by contra
rles, for ever since that coinage began
silver has continued to fall. Within
the present week 1t has fallen again,
dropping 3.l6 Of penny in London,
and silver was one cent lower within
two days. The reduced quotation was
43i pence. A London telegram quoted
by the New York Indicator gives 43t
pence as the market rats. During the
year 1885 the average price Of silver
bullion in London was So l3- 10 pence
an ounce. From 1915 to AIT is a
long fall, and . most thorough
contradictio to lse who boosted
that minting $2,t j00worth of silver
a month would rails Ire prico Of ELL
yer. At 43l the silver in do lar is
worth 70 33-100, or 73A cents. When
the coinage OF silver dollars began the
silver in dollar was worth 90 cents.
This change is far from what Bland q
Co. promised when they started the
minting OF new dollars. They also as
serted that decisive measures on our
part would force the European gov
ernmenis to reassume the use of silver
rs a standard coin. Not one OF them
has done so. What change has oc-
CURED ia this case also was in a con-
trary direction. These men also de-
clared the people were longing with
arlor pathetic and indescribable for a
restoration of "the dollar OF our
fathers" but time again contradicts
them, tor it shows that the people will
not take TO these announcement heavy
Jumps of metal. BY the ton
the dollars lie hid away in the
vaults, the people prsferring their
paper representative to their objection
able selves. Alter all the falsehood Of
the prediction and claims OF the Bland
party are brought to light, as they are
today, how can any rational citizen re-
tain confidence in the silver coin they
have induced Congress to mint ?
Especially, how can anything they
assert OF the future be received with
anything but contempt and unbelief?
To keep the current value OF coin
worth 73A cents up to 100 cents, in the
face Of the gold dollar that is worth
100 cents, is no trifling task, The
walker on tight rope has task much
Of the same kind, but he has balanc
ing pole, which the United States
Treasury has not. Tit is a difficult
thing to preserve parity of value when
trade matters are working smoothly,
what will occur when some mercantile
disaster brings panic and bank
ruptcy2 Then everybody will want
safe 100 cent dollars, and will
gladly pay premium to get then
and be rid OF their 7Sa cent dollar
But who knows that silver will no
yet sink lower still? India il
glutted with the metal and her silver
rupees go down in value as fast as ou'
dollars. China and other parts of the
Orient will be glutt ID slso, and what
! consequence may occur the presen
time clearly indicates, We have I
silver coin that has greatly depre
7 ciated in value and that is declining
4 further still. Can suyone FAY WHY
, we should still go on coming thi
fraudulent money, That 1t will ulh
mately fail TO keep up TO par is as Ger
!. tain as the greenbaoks go failed. IL
, the meantime who, except specula
, tors and silver miue owners, is bene
fitted by continuing the coinage O
. silver dollan2