Courier Democrat. (Langdon, N.D.) 1891-1920, 1891-12-17
SILVER LEGISLATION.

An Urgent Appeal for Fair Trial OF
the Present Law.
Before the influence OF the prospective silver
legislation WAS felt in the market silver was
worth in New York about $O956 per ounce. The
ablest advocates Of free coinage in the last con.
gress were most confident in their prediction
that the purchases by the government required
by the law would at once bring the price Of sil.
yer to 81. 1920 per ounce which would make tho
bullion value OF a dollar 100 cents and hold IL
there.
The prophecies of the anti-silver men OF dis
asters to result from the coinage of $4,000, 900
per month were not wider OF the mark: The
friends OF free silver are not agreed think. AZ
to the causes that brought their hopeful
The Of yer from L a1s
don to India during the first nine months
OF this calendar year fell off over so
same months OF the proceeding year. The ex.
ports Of domestic silver bullion from this coun-
try WG!eS had 6 AyeEaged ias the !ass ten wears
$13. 1877 1871, while for the first tine in recent
years the imports OF silver into this country
exceeded the exports by the sum Of 81. 745.seb.
from the United States amounted to SO, 64B,-
455. The production Of the United States In.
creased from 80; DOC, 900 ounces in 1889 to 54,-
ing and putting aside annually $4,000, 600
ounces. which. allowing for 7,14O,OOO ounces OF
new bullion used in the arts is 6,640.O moro
than our domestic product available for coin.
age.
1 hope the oppression in the price OF silver IL
temporary and that further trial of this log
islation will more iavorably affect it. That tho
increased volume Of currency thus supplied for
the use OF the people was needed and that bene.
fetal results upon trade and prices have fol.
lowed this legislation think must be clear to
every one; nor should it be forgotten that for
every dollar Of these notes issued full dollars
worth OF silver bullion ia at the time deposited
IN the treasury as a security for its redemption.
Upon this subject, as upon the tariff my recon-.
mendarion is that the existing laws be given
full trial and that our business interests be
spared the distressing influence which threats OF
rad1ca! changes always impart. Under existing
to n h o. sns
OF national finance, as well as OF commercial
prosperity-the parity in use Of the coin dollars
aud their paper Representatives The assurance
that these powers would be freely and unhesi:
tatingly used has done much to produce and
sustain the present favorable business condf
tions am still Of the opinion that
THE FREE COINAGE OF SILVER
under existing conditions would disastrouSly
affect our business interests at home and
abroad. We could not hope to maintain an
equality In the purchasing power of the gold and
trade the stamp gives no added value to tho
bullion contained in coins. The producers OF
the country, its farmers and laborers, have tho
highest interest that every dollar, paper coin,
issued by the government, shall be as good AZ
any other. If there is one less valuable than
another, its sure and constant errand will beto
pay them for their toll and for their crops. The
money lender will protect himself by STIMULATING
for payment in gold, but the laborer has never
been able to do that. To place business upon q
silver basis would mean q sudden and severe
contraction OF the currency, by the withdrawal
all values as would produce commercial panic.
Icannot believe that people so strong and
prosperous as. ours will promote such q policy