Los Angeles daily herald. [microfilm reel] (Los Angeles [Calif.]) 1884-1890, 1886-06-22

In its columns.
Mr. N. Rowe is the Santa Ana agent oil
the HERALD.
Htmetniiism the Poor MANS
HulWnrk.
We take the liberty OF publishing
in other columns letter from gen
tleman in the Kimberley Diamond
Fields of South Africa. 1t was not
intended for publication, and he was
inspired to write through curiosity IN
respect TO this region. He develops
views 80 wholesome with regard TO
bimetallism that we cannot iorbear
reproducing them. They are in con-
sonance with those which have 80
often been developed in the HERALD,
aud TO which Baron Rothschild OF
Paris gave the authority OF his name
years ago. The attempted complete
demonetization Of silver, already par
TALLY accomplished with lamentabie
results. is one OF the great crimes oil
the day. This conspiracy has no.
where had more enthusiastic supper
tiers than in the United States. Not
more surely do the dudes OF New
York 10 10 London for their clothes
than do the bankers Of Wall street go
to the same place for their financial
a
policy. We are told continually that
any nation which tolerates silver
currency will lose all its gold and be
left saddled with silver. The expert
ence Of France does not prove this.
From January to April Of the current
year, France, after the United
States, the great bi-metallic country,
of the world, furnished the
spectacle OF importing in four
months $22, $685. in gold and
s0,773, 900 in silver in excess OF her
exports Of the same metals.
AS an example OF the loose way Or
dinarily intelligent journals have oil
talking of the silver question we take
the following from the Charleston
News and Courier OF the Sd inst.
The silver dollar paid by Col. La
mont to the official who issued the
license for the Presidents marriage
yesterday, probably did not differ
materially, in size, weight and fine
ness from the many millions of like
coins which have been turned out
from the mints in the last few years.
Nevertheless, it will remain a marked
dollar henceforth, for the reason that
IL is the only one of the whole issue
to which it belongs which represents
its full face value and more.
The Financial and Mining Record
points out the facts that the dollar
referred TO did not differ materially
from the 234,0O0,0 900 of dollars of
4l2lS grains of standard silver which
have been coined by the minis OF
United States between the LIST OF
March, 1873, and the 3lst OF May,
1886, otherwise it would not be a
legal tender for the marriage license
of the President or any one else.
That goes without saying. And be-
ing in ''size, weight and fineness" OF
silver in all material respects like all
the other dollars OF 412A grains of
standard silver coined since 1873,
how ii can at the same time be the
only dollar of the whole issue to
which il belongs which represents its
full face value and more, as asserted
by this Charleston editor, passes all
human understanding that is not SO
fortunate as to possess key to the
esoteric meaning with which the
quoted words must have been used.
No more than any other dollar of "the
whole issue which il represents"
could this Iamont-emitted coin OF
412& grains of silver nine-tenths fine,
come closer to its "face Value Its
value, as that OF all other coins ut
tered from the mints OF the United
States, is the one stamped on its face
--th..t is TO say, the value at which it
is payable for taxes and all public
dues as also all private indebtedness
qualities which make it money in the
same way precisely that 25.S-lO
grains of gold nine-tenths fine emit
ted from the minis of the United
States stamped with the value OF one
dollar are money. The qualities in
the one case as in the other, are the
same-law-given qualities; the quail
ity Of paying debts whether public or
private, including not only marriage
fees but those OF midwife, or a sex
ton or even OF the keeper OF an idiot
asylum
We avail ourselves OF our text
from the quarter OF the confluence OF
the Ashley and Cooper rivers to say,
however, that APPS grains of silver
nine-tenths fine had face money
value equivalent TO 25.S-l0 grains OF
gold nine-tenths fine struck at our
mints, had that same weight of silver
been coined at the same valuation
given to 1927, 400, 900 of silver money
owned by the Bank OF France at the
time Col. Lamont paid for President
Cleveland's marriage license with
such dollar it would have been
worth 1903 .06 cents, that is, more than
8 per cent. above the face-value OF
the aforesaid dollar. Really, it is
most unfortunate that the press OF
the Atlantic sea-board cities persist
in writing upon this question Of
metallic money with such perverse
ignorance of the monetary history Of
their own epoch-and with an equal
1y perverse misconception OF what
money actually is both concretely
and in the abstract. These men evil
IDENTITY are ignorant OF the pertinent
fact and mislead their readers
npon the question affected byit-that
the 234 100000 standard dollars
coined by the minis of the United
states have value OF 81, l6O, 400 less
than the same weight of fine silver
would have if coined at the value at
which silver money was held in the
four following chief national banks of
Europe about the first OF June, 1886,
namely:
Bank of France. .................. S127, 400 900
Imperial Bank OF Germany ..s,.. IS, $40 000
Austro- Hungarian Bank -........ u, go 900
The Netherlands Bank. .-...... 40, $50, 06O
.flvar nj thase hanEe enn nv