Evening capital journal. (Salem, Or.) 1888-1893, 1890-01-15
Tn. Silver Ou.stisp.

in political circles that the silver
question would occupy a large share
OF its attention. With a view to in
fiueuce ITS action, the silverites held
a convention in st. Louis wherein
much wild talk was INDUCED and
resolutions adopted demanding the
! free coinage Of that metal, and -alsn
urging upon the treasurer Of the
United States the purchase Of double
the amount Of that royal metal that
j. now used for coinage until a new
c1inage law shall be passed. II
may be well to remind the reader
that under the present law the sec
retary Of the treasury Is required to
c in from 100000 to 1900, ,O0C
per month Of silver, although the
minimum amount is the extent Of
our coinage. SiGce the passage
II the aw in 1879 an average Vi
silver falling under S30,0)0,OO0 u
yea hts been turned out by the
mint director. The bullion il
bought at the market value of the
metal as commodity, and the very
liberal profit derived from the in.
| dgstrv is covered into the treasury
as royalty. Silver mine owners Use
this spec.ous argument: II the
holders % gold bullion are accorded
free coinage, why should this iu-
yidious distinction be shown 10 the
owners Of silver bullion? WHY not
treat gold and silver alike?
This simple truth should be borne
In mind. The yellow metal j. in
trinsically worth the sum that il
represents in our currency. while the
standard dol ar t';he collar Of our
father, 80 "a it l. -9ntinientaliy call
ed, bears a discount Of p 10 20 per
cent. This can be shown by . sim
pie sum in arithmetic. The last sill
yer quotation was 9j cents an ounce.
The standard dol ar contains APP
grains, one-tenth OF which is alloy.
This gives % cents on the value Of
the 81 r dollar. Let con - ess &C
cord free coinage to silver, and ac-
cede TO Senator Stewards demand Of
coming a ! the silver offered by our
own citizens and by aliens from
abrold, the product Of our own
mines aud the mines Of other cOun-
tries, aud these results would follow:
The royalty on the coinage instead
Of being retained by the nation to
increase the weight OF the dollar, If
that shOull be deemed cXpedient,
would 90 ints the packets Of shrewd
operators, and the people he lcfD
to supply the deficiency should
a re-adjus,ment Of our metallic cur
rency at any time be made. Fur
ther, such considerable increase Of
our silver currency, rs this plan in
wolves, would in no great time give
that metal the preponde9enre, and
then the standard dollars would be-
come the measure of va'ue.. The
bounty paid To the native and for
eign bullion owner would have to
be made good by the American
working man and farmer in the re-
duced purchasing power OF the coin
they carry, a dollar worth % cents,
by the gold mint,
would only purchase that amount
Of Hour and beef and clothing; and
this condition of things would not
only he injurious to the producer
and the wage-earncr, but il would
lead to such commercial derange-
ment that there is no telling what
would he the ultimate issue.
This cry for the tree coinage of
silver, then, is so much like the
wooden horse introduced by the
willy Greeks within the walls of
)eleaguered Troy, that its c1use-
luences should I've maturyly con
,idered.
Secretary Window proposes Il /
of dealing with the silver .
question which i approved hy the /
president, aud is generally accepted I.
y sound craftsmanship. His pro I
position i 10 make the treasury d /
free depository for silver, which l. I
10 be paid Tor la treasury notes re (
iecmable in such quantities OF ,ilvcl .
bullion as will agree in value at the
market price uf silver al the date of .
with the face value st
he notes, or Ia gold az the option Of
he government Coupled with this
,roDn~ilion, however, j. another for
he tepeal Of the compulsory feature
Il th present coinage act
inst OF all, then, Mr., Windows plan
suuld put an eud 10 the present use
ess and unnecessary coinage of
heap silver dollars; aud IL would al
nee opeu market for the silver
'utpui Of our mines. Silver men
'1mplAin that this commodity is de-
lreciated In Va ne BECAUSE il i~ not
III absorbed. Q hi- will remove that
ausc of discontent, aud give free
,iaN IA tho tsafur.i .l..ty.it,. - ~.