The weekly tribune. [volume] (Great Falls, Mont.) 1891-1894, 1891-09-19
NEW YORK ON SILVER.

silver question, pertinently says:
1.-THE silver resolution is false to thu
core. 1t is not meant that it pretendl
love for silver. and is false in its pre-
lenses, but that what it says about the
late silver legislation and it's meaning ii
false so maliciously false that the
wonder is it had the audacity to assert
it. The resolution in whole and in de
tail is a stab at the silver cause, anG
could only have been prepared and
adopted by s%ilver's enemies.
"Its first assertion is that the act Of
July IA, 1890, provides for the purchase
of the silver product Of American mines.
This is without an atom of truth. II
provides for the purchase Of 4,5OO,OOC
ounces Of silver monthly-but the treas.
urer is limited to the silver of no coun-
try and of no mines. The law is 80
framed that the treasurer must purchase
from the lowest bidders, and if London,
Mexico or Spain takes the notion to bear
the market by making low offers, Ameri-
can miners must meet the cut or they
will make no sales. The real effect of
this is to keep the price of silver down
by inviting competition from the owners
of silver the world over. The result is
seen in present quotations of the metal,
and the market is still declining.
"The next association is that treasury
notes issued by the government in pay
ment of silver are protected by a reserve
of 100 cents worth of silver for every
dollar issued This is also unqualifiedly
false. There is no provision in the law
that ever by indirection permits 100
cents worth of silver to be paid in re-
demption of one dollar of these notes.
The notes may be redeemed in gold
money or silver money, dollar for dollar.
at the option of the treasurer, but if he
should pay silver money to the holders
OF the notes when presented it would be
the '80-cent dollar so sneeringly de-
nounced by Wall street statesmen, that
the holders of the notes would be forced
to receive. Then again, under the law,
the holder of the notes may obtain silver
bullion from the government for them,
but in the event the bullion is called for
it would be weighed out to the note
holder at the then current market value
of silver bullion. If such notes were ex-
changed for bullion tomorrow the holder
would receive from the government but
about 10 cents worth of silver for each
dollar presented.
1.-The next assertion is in the form of
party laudation. 1t says: we com
mend the policy of maintaining gold and
at a parity-the treasury notes
paid for silver to be kept at par What
is done to maintain gold and silver at a
The resolution does not say
gold and silver money at a parity, but
gold and silver Now gold and silver is
at a parity, and the present admins
tration is doing everything in its power
increase the disparity. In 1872 when
silver was demonetized 4121a grains of
standard silver was worth 81 in gold, or
l dollar in gold and a dollar in silver were
If equal value intrinsically. Now the
[12112 grains of silver are worth about so
and are gradually l~essening in
7alue as measured by the gold standard.
This is because, under the law, silver is
a commodity. The government en-
ers the market and by inviting compel
tive bids for what it must buy each
month it forces the price down to the
notch possible with the condition
IT the silver market.
when the resolution refers to parity
n money, it discriminates against silver
money, for the language is, 1.-The treas
Try notes paid for silver to be kept at
ar with gold" This is accomplished by
treasurer when the treasury notes
re presented for redemption, paying
hem in gold coin. He neved pays sill
er dollars unless they are expressly
emanded. Thus the policy commanded
J that of discrediting the silver dollar by
oarding them and declining to issue
hem in redemption of the identical
otes which the government paid for the
liver bullion, unless especially re-
"a more deceitful, lying, fraudulent
.esolution dealing with silver was never !
enned. 1t is one of the masked bat ,
cries erected by Wall street with which
ley hope to surprise and defeat the I
emocratic legions of the country, organ :
led and fighting for the free coinage =
ause. 1t is the single standard doc {
inc, pure and simple, and if the party |
nnouncing it should succeed in the 4.
at large the grave of silver will I
q digged and it will form the shroud of i
lie corpse it made"
WHEN the pauper labor of Europe is i
irrtnn tho HAl.<.,ol ox.-x-- J.