The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1890-11-20

and justice. To achieve this result
the great object of the old party
politicians-to break ub the new
party-must bs defeated.
On with the fight!
who is Interested in Silver?
Our esteemed contemporary, the te
Nu's Sur, raises the question OF free
coinage Of silver id the following edi-
torial, which we quote entire:
THE national bank note is made
redeemable in greeenbacks. It is that
provision Of the law which makes it
equal with the greenback and allows
the two notes to. circilats side by side
without question, In fact, the ma
tional bank note is only a greenback,
orstreasury note with a new face. The
glrccnback is legal tender money, but
the national bank note is not; but
the fact of the latter being convertible
into the former gives the two notes
equal power. The greenback, being
rcdcemable in coin-gold or silver
gives it it's par. value with. coined
money. Free coinage Of Silver, by
mailing silver the standard OF value
and driving gold out of circulation,
would reduce the value of all green
backs and national bank notes to the
bullion value of silver, and gold would
be at a premium. With free coinage
of silver there wouldbe a wild rush for
the gold in the national treasury. It
is not the owners of gold who are
afraid of silver coinage. but the private
owncrstof bunk notes and greehbacks
have reason to oppose such a change.
The National Bankers have no doubt
had sufficient assurance from head
| quarters that President Harrison
would veto such a measure, and there
could not be a majority got to pass it
over the veto. The owners of silver
mines and the bankers have diverse
interests; hence their different views
Of the question. 1t is purely a question
Of the self interest of the rich classes,
In which the general interests of the
people have no share, or very little
LIE Mars Sun, Nov. 6.
We desire to call the attention of
our contemporary to one conclusion
arrived at in the above article, namely:
"Free coinage Of silver, by making
silver the standard of value and driv-
ing gold out Of circulation, would re-
duce the value of greenbacks and IA
tional bank notes tothe value of silver
bullion, and gold arould be at premiun.
With free coinage Of silrer there pould be
q srild rush for the gold IN the national
treasury,
The italics in the above extract are
our own. We do not agree with this
conclusion. If we had free coinage OF
silver and the coinage were a full legal
tender, there could not by any posi-
bility be any premium on gold, be.
aus a man with silver coin or certif.
Gates or greenbacks, could do anything
or buy anything or pay any debts OF
taxes that he could with gold, and
consequently he would not be foolish
enough to pay any premium for the
latter. even though some one might
be foolish enough to ask it, which. is
very improbable. Even in the matter
Of foreign exchange there would be nc
premium beyond the rate of exchange
because those exchanges are made al
most wholly by mea of bank drafts
or bills of exchange and these are based
on bank deposits and are sent back
and forth in exchange for commodities
only, and so long as the balance of
trade remains in our favor-in other
words. so long as this country sells
more to foreign countries than it buys
from them, there would be more drafts
sent here than would be sent away,
and when final settlement was made
there would be a balance coming to us
our credits in foreign banks would
be increased, and they would be glad
to have us send them more drafts to
balance.
That the value of each and every dol
lar would be lessened by such a meas
urc is true provided the number of
dollars in circulation were increased
thereby, but all dollars, whether of
gold, silver or paper, would be de-
creased in value alike; that is, their
purchasing power would be increased,
orin other words prices would advance
produce, labor, and everything but
taxes and interest would go higher.
But that is what the country needs,
higher prices. The squeezing process
to which the people were subjected af.
ter the close of the war incident to
the destruction Of the currency of the
country was, as certified by the silver
commission more damaging than war,
pestilence or famine"
InouropiniOn the farmers are vitality
interested in increasing the currency
of the country by free silver coinage
anu al OulICl lCS lClludLC uCdASs-
Sioer City Libertu Bell
The independent Movement in South
Carolina.
The Democratic party of South
Carolina is splitting apart on the line
of intelligence, One wing has glued
the scat of its pants down to dead
issues that fatten only usurers, specu.
latorS and office holders, while the
Other is moving on toward school.
mcnt of industry by caring for the
industrious, including the farmers,
One portion of the party is anxious
only for party supremacy, while the
other is seeking general prosperity
Pomeroy's Adrencc 7ho,,sht
THOUSANDS are to-day impressed
with the approaching dangers. The
facts that should alarm them are con.
spicuous. The industrial classes il
both city and country are profoundly
discontepted. The westernfarmers arr
not alone in tkeir suffering. The de
cline in New York his been so grea1
that State Assessor Wood, in 1885, eX
pressed the opinion that in few de
cades there will be none but tenant
farmersin the state. While the farm
erS are going down, and nearly four
ffths Of the city of New York live il
tenement houses, the plutocracy i
going up, the gulf is widening between
wealthand poverty-between the maj
Eao may be arrested as a tramp 70
Il being out OF work, and the m~illionair,
who spends 500, 600 on a stable for hi