Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1892-04-23
THE SILVER DOLLAR.
Practical Answer to an Enquirer After
Facts.

Practical Answer to an Enquirer After
Facts.
A correspondent sends the following
query TO the Press:
10 the editor n the Press
SIR DO not understand the silver
question IS an issue between the two
great parties. am informed that the
present silver dollar is worth only o3
cents in the silver markets, and If this
is so desire TO know why the same pow
ers that make il pass current for dol
lsr could no do the same With the 20
cents 80 frequently referred TO in the
Press. II IL is base currency IN one case
so il must be TO a degree in the other
Truly yours, THos.F. TRACY.
Poquonock, Conn, March D. 1892,
The American market price on an
ounce Of silver, $50 grains, IS $50 cents,
at which price 4l215 grains of silver are
worth about 63 cents.
II our correspondent will remember
that the government is authorized TO
buy and issue legal tender noies for a
sum not exceeding 100000 ounces Of
silver per month, and that 100000
ounces Of silver is very nearly our entire
annual product, he eill see that it would
be very different thing for the govern
ment to open its mints for the unlimited
free coinage Of silver. Here are some OF
the points OF difference:
Instead Of there being 81 100000 Of new
currency issued every year. there would
te -notody knows how much Our oRn
silver production would increase with a
rush. aud the silver Of the world, repre-
sented by the present price OF % cents
for il2l5 grain, woud,come upon as TO
be coined The difference Is plain be-
tween limited supply Of currency and
an unlimited supply. The country saw
it before, when gold was limited and
greenbacks threatened to be u limited
in volume Gold went up or greenbacks
went down; you can put it either way
you wish
Free silverites ask why IBIS would be,
and how IL could be, seeing that Europe
coins silver principally at a ratio Of l512
to !, and coin 1t at l6 to l. Will it be
natural, they inquire, for Europe to ask
as to coin It's silver when we require 33
per cent. more silver for equality with a
given amount OF gold than they do? The
point is however, that we have got gold
and England wants gold She wanted ii
all last year, and she will want II all the
more If it is locked up and becomes
scarce, as consequence of free coinage
here. And Europe viii try by every
means 10 draw gold away from as and
when she succeeds gold will go up and
silver down 10 its intrinsic value Our
government, Of course, cannot prevent
Europe from doing this crcept 10y "a
treaty, and this the demo ATTIC house
will mol let us make
The government can still say, You
have got to take this 4l215 grain dollar
as a dollar" And people would have to
take il in payment Of their wages The
merchant and his salesman will take 1t
with the usual smile and bow and
"thank you They won't say, we can
allow but 6S cents worth of credit on
that il will be easier just to mark the
6S cent goods up to a dollar aud not
make any remarks
The democratic party is in favor Of
this sort Of free and unlimited coli age,
without making first any agreeme with
other nation TO insure Us az inst for
eign drain of our gold The republican
party wants to maze an international
silver treaty, so that the silver question
can be- settled on basis of permanent
Justice TO our wage workers aud the
producers OF both metals New York
Press.