Democratic Northwest. [volume] (Napoleon, Ohio) 1869-1894, 1886-09-30
Seventy-Cent Dollars.

tHe ouo-1redSurleS are kept Dusy paying
out seventy-cent silver dollars in exchange
for one-hundred-cent gold dollars at par
And we learn that comparatively few OF
them find then way back either in exchange
for gold or for certificates. The withdrawal
from circulation of the one and two dollar
greenbacks has rendered small notes very
scarce, and we may expect very large de-
mand for small silver certificates. For the
want of such notes persons having occasion
to transmit a few dollars to pay for newspa-
pers and the like have been compelled to
send postage STAMPS. Almost every depart
ment of business and trade has suffered great
inconvenience if not loss in consequence of
the unwarranted action of Government Of
fcials in changing the denomination of our
legal tender notes.
The present Congress, appreciating the
situation, directed the issue of small certifi-
Gates; and, if allowed, the holders of gold
coin will deposit large sums for certificates
for seventy-cent dollars. 1t is supposed that
many of these deprecated dollars are being
stored away by the working classes for future
use. 1t will not be denied that after all the
assaults made upon silver coin it is still the
favorite money of the masses. Every body
but bankers and money lenders will hail the
advent of the small certificates. The New
York Board of Trade should have the credit
of inaugurating the movement which result
ed in the passage of the law making it obli-
gatory upon the officials to supply this pub
lie want.
The Director of the Mint has just issued
circular giving notice that he is prepared to
supply in sums of $40, or multiples thereof,
nickel ive-cent pieces and one-cent bronze
pieces, express charges paid by the Govern
ment.
Twenty dollars worth of five-cent nickel
pieces are worth less than 81 in gold, yet
they will be exchanged for gold at par. As
money they will perform all the functions of
gold! Bronze cents are intrinsically of but
little value, but one hundred of them will
buy gold dollar!
With a constantly swelling volume of
money, business of all kinds will improve
If Congress, when it meets in December,
will provide for the unlimited coinage of
silver, the trade dollars will be recoined,
made smaller, so as to be exchangeable at
par for gold, and the silver bullion now
drug in the market will be converted into
money. Then we will hear no more about
seventy cent dollars, and silver bullion will
be of the same value as gold at the legally
established ratio of sixteen to one. The
John Sherman school of financial philoso-
piers, who propose to increase the weight of
the silver dollar, will see their folly, and the
advocates of demonetization will realize that |
this conspiracy to make money scarce in |
order to increase its purchasing power has |
been defeated.
Let us have all the hard money possible,
supplement the deficiency with Government
legal-tender paper money, forever suppress
all bankers debts from circulation as money,
and we will have Democratic financial
Our rapidly increasing population and the
infinite multiplication of articles by the aid
Of machinery which are to be distributed will
require corresponding increase of money,
The distributing agent of all this wealth. All
The gold and silver available for coinage
must be utilized. The fabulous demand for
newspapers, the construction of street rail
roads in all our cities, require millions of
cents and nickels to be added to our coinage.
The contraction in our circulation which
would result from the suspension of silver
coinage or from the demonetization of the
metal would block the wheels of progress
and produce disaster and ruin. A financial
cyclone would be the result which in its
1evastations would extend from ocean to
ocean. The fears expressed that the con-
;inued coinage of silver will drive gold out of
;he country, and leave US only deprecated
silver with which to make exchanges, are ut
terly groundless. With all the efforts made
BY Government officials and bankers to de-
cry silver, gold is flowing into the country in
4 steady stream, and our silver is being ex-
ported to Europe, where its relative value is
greater than here. From the earliest history
down through all the ages it has been the
favorite money of mankind.-Enquirer.