Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1889-10-12
THE sILYER QUESTION.
4 circular (which Deserves to be Univer-
sally Read.

a circular which Deserves to be Univer-
The following circular, addressed ITO tne
| People OF the United States" has been
issued: ,eoo~A
The promoters OF this convention earn
estly believe that the subject to be dis
cussed and the objects sought to be at
tanned, to-wit. the rehabilitation OF silver
as one OF the money metals OF this coun-
try. as contemplated By vi federal CON
sti~tution, are matters OF the supremest
moment to the welfare OF our people, aud
| OF vital interest to mankind the world over.
Since the demonstration OF silver by the
leading nations Of the old world, followed
by the same movement on the part OF the
United States, we have seen q correspond
ingly steady decline in prices OF commo-
dities everywhere; q depression in trade
and business enterprises almost uppar-
alleled in history.
We have seen in this country q financial
panic, THAT Of 1884, following closely
upon the suspension OF the coinage OF sll-
yer in Germany, France, the Latin Union
and the United States, such as never be-
fore in cur history crushed the spirit OF our
people.
This characterization OF silver, worked by
law, q practical confiscation OF the earn
ings Of labor, the products and property OF
DEBTORS, and transferred them without
adequate consideration. to the golfers oi
creditors, and depressed the markets for
labor and it's products throughout the
world. ssa
Although in this country there has been
a partial restoration OF silver coinage by
the act of February %, 1878, yetthat act,
which authorized and required the secre-
tary of the treasury to purchase and coin
not less than 50, 900. 600 nor more than
81, coo. COO worth Of silver bullion per
month, a not been executed in the spirit
| in which it was enacted. The minimum
amount Of only 5 2,000,0 900 per month has
been the constant and unvarying rule gov
erning the treasury officials in the pur-
chase and coinage of silver bullion, by vir-
tue OF this law. The consequence has been
that all commodities, measured in terms
OF money as fixed by an arbitrary gold
standard, have declined from year to year
till the present time. ,ate 4
Now and then short r~evivals of business
prosperity have taken place. bnt they
were of very short duration and were
quickly followed by long perioi Is oil lower
levels in prices. :
Thoughtful men and the ablest political
economists of this and other lead
ing nations have called att, ntion to the
fact that the suspension of the use of silver
as one Of the money metals has been the
main, il not the sole, cause of this trade
stagnation. Such was the opinion of the
United States Silver Commission of 1876
and of the Royal Commission of Great
Britain in its report in 1888, as we'll as OF
the ablest economists OF the entire COM
mercial world.
In this opinion We fully concur. The
question Isl What shall be done?" We
believe that our. senators and representa-
tives in congress should be urged to restore
silver to it's ancient use as money by giving
it free coinage. This will place it on an
equality with gold, and we believe at q par
with that metal. Until this is accomplished,
it should be earnestly insisted upon that
the maximum amount of 81, 600, 900 worth
of bullion should be coined per month.
This is not demanded in the interest of
the silver miner, although that interest
adds nearly $50, 600, 900 annually to our
wealth, and that, too, in face of the fact |
that it is practically outlawed by our gov
eminent and it's mint regulations.
We produce nearly half of the annual
silver product OF the world, and surely it
cannot be reasonably complained of that |
This mining interest will be benefited by |
it's use as money when we reflect that from |
time immemorial it has by all nations,
until recently, been SO used, especially when |
we contemplate the direful effects this de-
moDetization has caused. Vast as this
wealth is, permeating as it docs the
and plains OF our great western
states and territories. yet it is a mere Incl I
dent to be entirely subordinated to the
great question uf the metallic basis for our
circulating medium.
That the stock of gold in the world in
wholly insufficient as a basis for it's money.
Ill now admit. The silver must be restored,
The thoughtful statesmen OF this and
other countries declare it to be the pressing
monetary problem.
1t is to this view OF the question we are
constrained to invite discussion by the con-
1entlon. 1t has been our aim to state as
'uccinctly as possible what 10 US appeared
o be the paramount necessity for calling
'he convention; it's objects, and remit to
he intelligent delegates who will compose
he convention, the discussion of the more
Intricate, economic questions involved, as
veil as the de ails OF the mode of procedure.
let we cannot refrain from calling the at.
OF the convention and the country
o one or two other important considera.
ions in this connection.
1t is susceptible of proof that the de.
1~onetization OF silver operates year by
ear as a means of enabling England to
.nstantly depress the prices of our wheat,
and cotton, articles that con-
nearly two-thirds of our export
rade. Fol the truth of this statement we ,
AXE the following suggestions, coupled i
it'll statistics: :
The population of India is about $780,. j
10000. India is governed by Great 8
rltaln. For the boon OF this government t
ngjand charges India about $50, 600, 900 il
nnually. England, in August, 1873, for b
purpose to us not then but now appar q
It, demonetized gold in India, and estab- /
shed there the single silver standard. G
erinany, the United States and France v
lspended the coinage OF silver. That c.
etal was thus driven to the mints of o.
.dia, where it found free coinage, and d
nere it had not, and up to this time has q
~, lost Its purchasing power as compared b
tn gold. Now, this $50. OOO, 900 due an. h
laily from India to England is paid by m
ats drawn upon the council of India, ii
lese charges are payable in London in
,ere gold only is legal tender: hence are W
,yable In that metal. India cannotafford p
send silver to England to paw these h;
ats, because when silver reaches Lon. nj
n it is not money, but deprecated bull ia
l. Consequently Indian merchants buv wi
all the wheat, cotton and bread-stuffs I'll
sslble and ship these articles to London or
d sell them to procure the gold with dc
ich to liquidate these Council drafts. lie
d so it is with the interest on debt owing mr.
English investors for the CONSTRUCTION at
railways and other enterprises in India civ
US the production of cotton and wheat iso
in India as a means of exnort no,
meet foreign payments. This has enor. to,
usly increased the export OF wheat and hn
ad-stuffs from India to England. It has cs
further effect OF 10 rering the price Of 6r,
Eat in England, for the lower the price M
liver IN london the more of it gold will fro
chase. Silver having not lost it's mr.. wh
sing power in India, will buy as much tnn
at as ever. Consequently, to cav that ba,
l will buy more silver this wear tina. "a;
!, Is synonymous to say that gold will p
more wheat this year than last, tio,
MS TACT is, and statistics prove It, that con
at, cotton and silver have uniformIv 20,
steadily declined together. he
gain, silver being worth more az mopev w. 20
1dia than as bullion in England r. Is tLa
orted into India for the nnrno.e 'ho