The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1891-12-28


Have India or China or Mexico Or Central o
South America felt amy evils from itY Eng
land, France and Germany can eaaily dis
pose OF what they do not want. All THESE
nations uso silver coin either as their only
circulating medium or extensively as q con
venient subsidiary in monetary AFFAIRS
And then what good woula foreign peopl,
or nations accomplish for themselves e
bring their silver bullion here and recoin u
into tho American dollarr II would pass "
no other than this as money and would bt
only useful to the owner to invest IT here II
land or its products or bonds, stocks, etc
The foreigner with more silver than he
wanted would perhana consider and calou-
late the chances of keeping his money al
home to better advantage, than r%ecoining
hero and run the risks and uncertainties OF
reinvestments i'll a foreign county. When
we hear such eminent men as Senator Sher.
man making such visionary declarations IN
opposition to silver money and the baneful
effects of its remonetixation, shall we be
surprised If Grover Cleveland has no better
information about it? Thisquestion like that
of flaw or any other subject has to be studied
to be understood and many editors OF news
papers and others who only give it u pass
ing thought too often fail to make the impor.
tant distinction between silver bullion and
n silver dollar. There is II good deal Of rot
and slang used by monomatalists Ill their
opposition to silver. They say they want
nm "honest dollar" want good money.
want a silver dollar to be as good as a gold
dollar "the poor man wants the silver dol
lar to purchase as much as the gold dollar"
The simple answer to all this is that the silver
dollar we use of 41219 grains is an honest
one, it is good money. as good as gold, and
the poor man or rich can purchase rs much
objection to the silver dollar seems to be
that the United States government puts
only about 10 or rs cents worth of silver
bullion into the silver dollar, n for
which it makes us pay 100 cents. that ls,
it makes a profit of about 20 or 30 cents on
every 37114 grains of silver bullion it buys.
The government to this extent ~speculates
and the silver miner loses it. The govern
ment buys 4, 500, 600 ounces of silver bull
lion per month";, as cheaply as il can, and
the owner of the bullion asks and takes
more or less according to the pressure OF
his wants.
The ratios of value between silver and
gold are not alike in any two governments
of the world. Our government arbitrarily
made 25.S of gold and its alloy equal to 81,
and 4121s grains of silver and it's alloy also
equal to ST.. We must abide by what is
thus fixed for us; the intrinsic value of
either metal and their ratios are not ques-
tions for us to discuss. The silver dollar OF
41211s grains, purchased by the government
in the form of bullion for about 20 or 20
cents. is receivable for debts, and is,
therefore, as good as u gold dollar,
which will do no more. 1t ID sur
prising that the captious gold monometel-
list does not object to the silver dollar as
currency for not being an honest dollar"
because the paper, ink and printing costs
really only q few cents. and yet is an
"honest dollar It is thus clear that the
United States government is solely to blame
for tho depreciation in silver bullion and
not England and Germany las some able
writer's are ~contending> by demonetizing
take his silver to the mint aad have it
coined free and returned to him in silver
dollars, he would no longer have occasion
to sacrifice it to the government for what
he could get.
AS soon as silver is remonetized. and the
coinage free and unlimited, silver bullion
will at once Jump to its par value, and 3714
grains Of it would sell for and be worth 81,
and not 70 or IS cents as now. The govern
ment now buys 1874, 900, GOO worth per year
of silver bullion. and on which it makes
from % to so per cent. This 1854, 100000, or
about that, is all mined in this country. 1t
Is stored away in vaults of it's treasury as
bullion. It pays the owner, on the prices
agreed, in United States treasury notes; but
if silver is remonetized, each silver dollar,
together with the profits the government
now makes, would go to the miner. The
country now readily absorbs all the money
now paid out for the silver bullion and no
remote signs of imitation in prices are visi-
BILE. Muce more money is needed year after
year, as the banks are rapidly retiring their
circulation. M and population
are growing much faster than the increase
of money. If foreign people and govern
ments could be induced to bring here their
silver and have it coined into American
dollars, these would be invested here in
1,.-s. -, ~ --~ -, rfcntS NNT ntn
and add hat much to the wealth of this
country and greatly benefit the farming
interests.
AS about all the productions of the silver
mines are bought by the government and
paid for in treasury notes, which are scat
tered and diffused among the people, with,
out causing any money disturbances, and
as hereafter the increase in the production
can only be gradual, it is hard to conceive
that any sound mind will see bankruptcy
and monetary disaster If the right of free
coinage is granted, the same as with gold.
The most foolish and ridiculous things
have been said and done by the gold
monometalists and their adherents to post
pone and delay the remonetlzatlon OF ell
yer. Not among the least of these was the
sending of commissioners ana embassies
to England, France Il Germany, with all
possible dignity and power on the silver
question, and did nothing except to be
laughed at in all the courts of Europe. No
one not wild with visions would suppose
that these old countries would or could be
induced to change their financial systems
in the least iot or little to accommodate us.
But we do not want their assistance. This
government alone from it's foundation up
to 1878 had free and unlimited coinage, and
it is in a much better condition now than
ever to alone inaugurate it and, also, alone
maintain it.
This embassy talk is the last resort to
stave off the day for reconciliation, and
it makes one sick and tired to hear of such
wild goose chases. Yours respectfully,
w. A. HAUsER.