The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1891-02-01
THE SILVER BILL.
Views of an Old Resident In the Min
ing District.

views OF an Ola Resident In the Min
ing District.
EDS. SUNDAY UNION: I have read in
your valuable paper some good remarks
about the free coinage OF silver, and think
- would be great calamity to our coun-
ry If it should become law. 1t most
certainly would drain us of all the gold
we hold. France alone has five hundred
millions in silver which she will quickly
change for gold if it can be done without
great loss. 1t seems strange to me that
great commercial bodies have not taken
more interest in this great question. We
have had greenback party and its plat
form was more greenbacks, no matter
what the real purchasable value of dol
lar was, but keep on printing more. The
silver men want more silver, and our
Government is to be made cat's-paw for
spectators and money kings. The law
is already bad enough, but now they are
going from bad to worse. For every 4l2
grains OF standard silver the Government
IS to return dollar. 1t is preposterous
Look at the amount of silver that would
be rolled up to our minis from all the
world.
There is one thing that Congress ought
to know-they cannot change the UNI
governable laws of trade. If more silver
is produced, then the laws of trade de-
mand then the price goes down; if other
wise, the price will go up. There is Just
as much reason in u party who are min
ing for copper, and the price depreciates
to three or four cents per pound, going to
Congress and asking to have law passed
for the Government to buy four mill
ion pounds of copper every month
and pile it up in its vaults, or to buy any.
other commodity, to raise the value. I
recollect very well reading in the papers
th1rty-hye years ago, after gold was dis
covered here in our own State and in
Australia, that there would be an over
production of gold and the price OF stand
ard of gold would be lowered. But that
time has not yet come. The total pro-
auctions of gold, silver, copper and lead
west of the Missouri River for 1889 was
SLY ,67S, goo; for 1890, SI27, JOY, 600. While
the total result is about the same, and
productions Of gold S32, 00O,O00 each for
nearly 100000 in copper over 1889 and
decrease of 81, GOO, COO of silver in 1890.
1t shows that 1889 has been and probably
will be the highest point of our silver pro-
duction.
was talking to a laborer about the sill
yer blll-he thought we would all have
plenty of money then. I told him he
would have to work for his money lust
the same, and it would not increase his
wages one cent. The silver is already
piled up in the vaults. Nobody wants
the standard dollar excepting what is
necessary for change. To induce the peo-
pie to take the standard silver dollar
500, 900 was appropriated to pay express
charges for all silver dollars expressed to
the interior, providing a person ordered
$500 or more at one time. When this
camp was lively L would order from the
mint GOO standard dollars. 1t cost the
Government 81 so to express the
oil how In, A.
these dollars find their way to the mint
again, so l order another lot, and the
Government pays express charges again
on some of the same dollars. Think of
the expense and folly. The Government
cannot force coin on its people that
they do not like.
venture to say that there is not cap
italist living in Sacramento to-day who
would go to your bank, borrow $4,000
and dare pay his note with couple of
carloads of standard dollars. The bank
could not refuse the silver, but it would
never lend him money again.
MThe silver bill is not party measure:
and no party is to blame, but it comes
from the silver men in the South and
West, and doubtless some of our law
makers will be well paid if the bill is
passed. Let US have a dollar that is
worth dollar, the same as the gold dol
lar. Go to England with 500 of our
gold in your pockets, you lose nothing;
go there with 100 standard dollars, and
you lose twenty per cent.
have read all speeches in favor of sill
yer carefully, and cannot see single
reason why we should raise the price of
silver at our own expense for all the
world to profit by. The last bill is a
complete failure, but some of our Senators
and Congressman may have made money
out OF 1t. OLD 49ER.
Forest City, CAL, January 20, 1891.