Daily Yellowstone journal. [volume] (Miles City, Mont.) 1882-1893, 1886-03-18

The distribution Of this balance Al The clos. OF
the fiscal year among the coinage mints was az
follovs:
Philadelphia ................ ss0,sss IL
san frsnclsco ACKNOWLEDGEMENTS. 25,5t1 -
arson 3l,0i5 81
We" oiieahs' ...-+--...s...,,.,-.,. B',TO II
Total, ,..................,..., $500 q,
The above statement as approved by this bureau
was yerin.db by actual count by representative
| IRON the Department. of the above balance, the
| portion at Philadelphia and at New Orleans has
since been covered Into the Treasury. The amount
| al arson and San Francisco has been retained in
order TO meet the expense Of distributing the stock
| OF silver dollars now stored at those mInts
rs shown by preceding reports of the Director
m The Mint, NJ we'll ~ by the accounts of the coin
Ogre mints on ls in the office Of the Register ~ the
Treasury, the seigriordr un silver ON hand at the
coinage milts ON lst nf July, lsis-tbe beginning
OF the hscaft Scar following the passage of the act
authorizing the coinage ~ the standard silver dol
lar, amounted To sisi,i2547 The seirnioraga
ince that dat" NJ to June ~ 1856 on the cuinAe.
| If silver has amounted 10 Sssj.s,s $3.50 Adding
| the sum Of s9,sh -, refunded by Adams Express
Company for oyyerchargrs, and si,S09O surplus
| bullion and adjustment Of silver values carried
Ia u" credit Of the ''silysr profit fund.- makes A
total Uf silver profits 10 he accounted for Of 81
''nni3.!s. OF this amount Sis3.,,s . has been
| paid n provided by law for -XI-A-,'- connected
| with TIE distribution If these cuias Exclusively
and Slih'ip - used Ia reimburse wsstal-- aud Law
suits IN III" sale ~ sweeps incurred in connection
| WIN ~" coinage ut IN" silver dollar. Tie net
| profits for ia" seven years. including N. balance
In The mihts Ca Jul' ], lsss, thus aggregates s2l
~ isi,n W tht- amount ssi,g@.sts.i Wa
| covered luin ~" Treasury of the lnii.d ~tat'.-
prior IN the Close uf the last f-ral year aud the
balance, sisi 3siu, was In the coinage mnts 81 IN.
| latter aal". az this latter amount S's,S, si -
| riu- The balance, a. stated ahuye al the miut- ~
fniiadrphil and At New Orran-, has h-cn deposit
| '' IN the Treasury
From the above il will be seen that Ibis
is protection with vengeance. Ii tue
same Kind OF protection was accorded To
gold, the gold mOnOInelallIst would char
acterize IL as that protection which The
wolf gives TO the lamb and tne eagle 10 The
dore
When Russia, Australia and California
were pouring their unprecedented supply
into the lap of the world, 5000 COO, 900 in
Fix Year,, political economists became
alarmed, and its demonetIZI tiou was adj.
vi,ed 10y some. \ few nations yielded to
the prevalent sOlhi-try Of the time and saw
safely only IN refuge behind silver.
Among these who were cOnspicu0usly
Wiser and traver, was France with h n bi.
metallic system. Suppose the coinage Of
gold had been suspended at that time. Sill.
yer would have been king. and gold, ex
cluded from the minis. would for time
have only been II merchantable commodi.
" with only a small demand The siiua.
ton ia now only reversed. Al that time
5000, 0O0, 900 in gold was dumped upon
the country 10 six years-a production
without parallel 10 all the rast Instead
OF rejecting il our legislation stamped II as
money and saved it from depreciation. "
is no better than its twin-sister, silver,
which under similar governmental ipfiu
ence and protection will soon assert and
maintain lis parity with gold.
II must be apparent 10 every observer
that as our natiOnal-ban notes, based upon
Government bonds, are steadily disappear
ing in order 10 prevent a contraction of
$40, 000,0O0 year. their place must be
supplied by some equivalent. How are
We to keep Up the supply Of good money?
| Ills question is iniellgently answered by
Mr.. ID, x,er A Hawkins. a gentleman from
New York, who appeared before the Com.
mite: on Coinage, Weights and Measures
a short time ago lie says:
With the payment of our debt the national hank
| notes, based upon Government bonds, are steadily
| disappearing. Their place must be- supplied by
coin or it, equivalent; otherwise contra ton Of
ahont forty millions year will follow, and con
seqnsnt depression OF business and Absorb ton Of
property by capitalists.
The output " our mines will easily furnish the
minis the silver 20 do this and il costs the people
u. II
| may he done in silver coin or coin certificates.
| In this way, in few wears, our three hundred
| and eighteen millions of paper money, based on
| nothing but promise and a promise, too, that
within twenty I'VE years last past has been al one
time worth only 10 cents silver 20 the dollar will
| become three hundred and eighteen millions of
silver dollars, whose weight has never varied in
the ninetyfenr years of their existence or certid
Gates for coin held In trust by the Government 10
redeem these certificates at the pleasure of the
| holder.
| The domestic trade Of the country, estimated al
Srun0n,tG per year, is now done, aud from the
habits nt our y npla always will be done. chiefly
| With paper r.pTeseDtinE money. These certif-
| Gates, representing coin in the Treasury, the
best Kind ut paper mun,y ever DE-, is-d by man.
| So long ~ the Government buys the silver az
the market prir" and coins 1t into standard dol
lars, these dollars within this country necessarily
| under the present law will have tue same puTvhas
ing power and paying power that the gold dollar
1t is the duty II Congress To provide for and Sc
cure the business aud prosperity If this country
and not of foreign countries and to take care OF
| the ss5,un,uDNn Of home trade.
Our foreign trade, both imports and exports, l.
| only about u per cent. Of our domestic trade,
| our exports for the last twelve years have paid
for our imports and left an average credit balance
| IN our favor 81 more than slOu.tsD "a Der wear
| Unlcss the business Of the country is disturbed
by legislation In the interest," not Of ourselves but
Of foreign countries, this credit balance will COZ
tinue- But II II II disturbed. and debit balance,
is produced, this debt will have 10 De paid a. the
| godusing countries with gold and 10 the silver
countries With silver: hence the necessity OF keep
ing both in quantities 80 large that q draft upon
| either need not disturb our financial position
| The coming ot our whole available product of
| both silver and gold will enable u 10 do this.
| The theory that the possession Of large amount
OF full legal tender silver Is going "a make II more
difiCnlt as the gold mOnOmetalists say, for NJ ~
PAY abroad adverse balance OF trade has no
| foundation in fact IL is pure fiction. Logically
IL is like assuming that large corn crop disahles
Us from exporting wheat when there is foreign de-
mAnd for wheat or that large wheat crops hinder
the export of corn whenever other nations require
| that cereal The truth IL, the more We have OF
/ either the greater is the amount pay out or
export Of the other without Inconvenience. IL We
hsd only gold, desired by the enemies Of silver
coinage, and that departed 10 pay debts Ia gold
using nations should have no coin left a ha
| sis 81 our paper money, and that would vary a.
heretofore from par 20 10 per cent. discount, but
will only bring the other for the time being more
into nse, and will support our paper and keep our
| industries alive.
In my judgment this Is not an expedieni,
but satisfactory aud certain solution OF
this question.
refrain from descending further into
details. that have already been presented
to the House and the country; but, in con.
clusioD, insist that the time is at hand
when, in order 10 meet the demands of in.
creased population. resources, and inviting
future, our silver coinage should be free
and unlimited.
When we shall have given each Of the
metals the same opportunity 10 work out
its own salvation our attention shonld