Daily independent. [volume] (Elko, Nev.) 188?-1915, 1891-02-10
THE SILVER QUESTION.


copy OF q so-called interview with ID.
ID. Hsrter, Democratic Member OF
Congress elect from the 18th Con-
Rressional District of Ohio, with a re-
quest that IF the contents OF the in
closed interview will tend to strength
on those who read it in a determine
ton to keep the. party from sur
rendering the interests Of the whole
people to a Mere handful of silver
producers and spectators would 10
glad to have it appear in tho Demo
cratic paper Of your place."
In the first place it is worry unfortu-
nate for the Democrats OF the 18th
Congressional District OF Ohio that
they have elected to Congress q man
who is 80 devoid OF sound judgment
as Mr.. Harter proves himself to be in
the 80 called interview, and in the
second place the gold-bugs of v all
street have secured faithful ally in
one who, while he claims to be
Democrat, will find himself very lone
some in the Fifty second Congress-.
An idea o: Mr.. Harter's sound Il
nancial theories may be gained from
his statement that the adoption of
free coinage of silver would cause
immediate and violent contraction,
and instead Of having total circula-
ton Of about l,5O0 millions of dollars,
The effectNof the free coinage of silver
will be to instantly drive out 600
millions Of gold; and it takes no
prophet to see that this would mean
q general bankruptcy, compared with
which 1857 and 1873 were years of
prosperity and periods of abundance"
A sufficient answer to this absurd
statement is the fact that when the
Bland Act had passed, the bankers
predicted that all our gold would
leave the country, yet in 1880, after
the passage Of that Act, the gold
circulation was $685., 900, 900, as against
SlO6, 100000 in 1870.
Mr.. Harter says "the actual value
Of gold in every legal tender dollar is
ut least Is per cent more than the
silver in legal tender silver dollar"
Would the gentleman kindly inform
his readers by what standard he
gauges the "actual value" of the
metal in gold dollar? The actual
value OF metal cannot be determined
except by comparison with some:
thing else, for except by such COM
parison nothing has "actual value"
If q silver dollar will purchase so
many pounds of -four it's actual value
Is determined by it's purchasing
power; so also with gold; if a gold
dollar will purchase no more of the
necessaries OF life than silver dollar,
then its "actual value" is the same as
the silver dollar, and no moro. When
the government Of the United States
establishes dollar by designating it's
weight, tineness and the metal OF
which it is composed, then the actual
value Of the coin is determined by
giving it an established value in the
payment Of debts and in the purchase
OF the necessaries Of life.
Mr.. Harter closes by saying: II
try to be reasonable and open to con-
viction, and I freely change my views
when convinced l am wrong" The
gentleman has great deal to learn
about Finances, and in our judgment
he would have done himself much
credit had he examined the question
before flying into print to prove him.
self n gold-bug OF the most pro.
nounced type, and hence an enemy of
' the people. The Hon, Michael D.
Harter evidently thinks that the de.
rnonetization OF silver in 1873 was the
greatest blessing ever vouchsafed to
the American people. Out upon suoh
sham Democracy