The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-04-15
DADDY DOLLARS.
A Paper Called Forth by the Bond
Purchase Bill.
To the Editor of THE HERALD.

To the Editor of THE HERALD.
In scanning the columns of a San
Francisco paper this evening, my at
tention was attracted by special dis
patch from Washington concerning the
bond purchase bill. passed by the
Senate recently and now awaiting the
action of the House. The dispatch
states "that nearly $3O0,O00,O0O of
standard silver dollars have already
been coined, and the silver certificates
are rapidly taking the place of all other
kinds of money in general circulation"
So it seems evident that We are rapidly
drifting towards depreciation of
25 per cent. in values, since the silver
dollar represents only % per cent. in
value of the worlds common standard,
which is gold.
In rejecting upon this very small
coinage of 300, 900, 600 of silver dollars
since the passage of the act of Febru-
airy %, 1878, my heart melted with
sympathy for she Discrimination"
that has been made against the white
metal" by the gold bugs" There is
no enforced coinage of gold as theirs is
OF silver, nor is there any such restric-
ton upon
THE DOLLAR OF OUR DADDIEs
as there is upon the reenback-an act
of Congress of May 81. 1878, requiring
the greenback circulation to be main
tanned at $3i6 100000 in round figures,
| NJ Toe a
upon the Treasury Department to keep
| 800, 000,0 900 in gold as a redemption
fund for this forced war loan cur
rency. Yes, Ifeel great deal of SYM
| patty for the bonanza silver man as
well rs for thegreenbackers--the first one
of whom finds his interest restricted
under the act of 1873 to coinage of
$3.50 600 per month on a $1,000 600
purchase of silver bullion, while the
last named is forced to realize the fact
that the government will not run
printing presses night and day for the
purpose of grinding out countless
millions of shin plasters in order to
make money" "plenty" and equal in
volume to 1.-The wants of trade"
Almost 300 900 0C0 of the dollar
Of our deddies" coined during the past
ten years. What a contrast to be sure
to the coinage of the aforesaid daddy
dollars" from 1889 to 1873-the year
last named being the one in which the
white metal was
DEMoNETIZED "sURREPTITIoUsLY,"
as the silver monomaniacs falsely
assert. In those eighty-four years
there was coined only little more thar
600, 900 silver dollars. or less than the
quantity that is emptied out of oul
minis every four months now under
the operation of the compulsory coinage
act of February %, 1878. How much
wind has been created about the "dolla
of our daddies" by the greenpack AM
silver advocates of a depreoiatet
monetary staudard-a dollar that com
lparatively few of our "daddies" eve
handled 10 any extent. But durin
those eighty-four years the Leadvill
and Colorado booms, the Navada booI
aud the Utah boom, had not struc
D any portion of America to set peopl
wild with the fever of speculation; tn
IDEA of getting something out of lit
or nothing had not then
HALF-CRAzED ENTIRE COMMUNITIES.
The greeDback and silver uisionair
sometimes refer to::France as furnishir
an example for the maintenance sof
large silver circulation. A few plai
, facts will soon perfOrate their attempte
J showing in that direction. AS is We
known the French people do not ava
themselves of the use of drafts ar
checks as we do; their exchanges belr
loF O in M
paper representative, notes of the Ban
of France. France belongs to tt
Latin Union, which regulates tt
relative value of gold and silver az
controls the coinage OF the last name
metal, more especially in the sever
, countries embraced in that unio
That monetary union embraces, besid
\ France, Belgium, Holland, Switzerlan
and Itaiy. France keeps a limit upC
silver coinage, and more than once
recent years she has suspended II
coinage of that metal altogethe
l. The French people learned less0
upon political economy during the
revolution of little less than 100 yea
ago when they tried a greenback pap
or money system and witnessed assign
and mandat schemes 60 to the wa
finding, eventually, more than 1900
III 600 600 of worthless paper on the
~ hands backed not only by the fai
and credit of the government" but
"a the prsceeds of confscation of
an ALMOST COUNTLESS MILLIONS WORTH
FL of property belonging to the chur'
d and the nobility as well. So now tn,
have no desirs to try the greenba
On method by seeking remedy for .
alleged scarcity of money nor to practi
h, the advice of our silver mine owne
cd by the coinage of an unlimited quaint
of francs from metal which cor
ok mercial law, higher than government
authority, has pronounced as inferi
-, to gold. The practical Frank does n
IN "take any stock" in the idea that Il
power of omnipotence runs after a I"
it enacted" whether promulgated
King, Parliament or Congress.
SINGLE STANDARD.