Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1892-11-11
THE SILVER QUESTION.
1t Chiefly Affects Great Britain An
Able Argument FROM the Bl.Melallic

Able Argument from the Bl.MeIaili
Standpoint.
y. Y. Engineering and Mining Journal.l
On another page we print a lonI
letter giving Mr.. Emil +. Granier'
views on tho silver question. w
need not say We cannot accept thes,
- representing the world experien nee
in fact. he bases his arguments CT
what va believe to be unfounded az.
sumptions. 1t is not therefore neces.
sary to reply to conclusions draw,
from them, we would merely remark
that Mr.. Granier surely forgets that
when tho government of the United
States WAS issuing legal tender green.
backs. it required more than two and
. half dollars of them to buv one
dollar Of legal tender gold. Has he
also forgotten that notwi,hsta ndine
the United States enactment re.
curing everyone to accept green.
backs At their face value in full salts
faction OF all debts, no one would 40.
cept them in California? We have
demonstrated for ourselves, just wh.,
every other nation found before us,
that unless . government Is able to
redeem its paper or silver dollars in
the only universal standard, gold, its
diotom that piece of paper or Ger.
tain number Of grains OF silver are
equal to = gold dollar is worth no more
than any private individuals "promise
to pay" if he has not the where wi.hal
to redeem it. There is but ono way
in which the price OF silver, whether
in coin, or IN bullion, can be advanced
or even permanently maintained, and
that is by making it in fact. and no.
in words only. exchangablo the world
over for gold at q fixed ratio, and this
cannot be done by one more country
adopting FREQ silver coinage. The
only reason our silver dollars to day
arc At par, is because the government
will give gold dollars for them. lit
were unable or unwilling to do this
our silver coins would Immediately
DO at q discount which woul.l quickly
get to that OF the silver dollars Of free
coinage -xico or Japan; tina. is, they
would decline to about the market
price Of bullion, whether they were
legal tender or not.
Tho idea that the adoption of free
silver coinage by this country alone
would sdvanoe or msintain the price
OF silver is wholly chimericsl. The
worlds silver would come here to be
exchanged for gold if we should at.
tempt to maintain a parity betwe+n
the metals OH any fixed ratio, and if
We declined to give gold for silver
our silver coins would at once descend
TO their bullion value. In either
event our gold would disappear and
~'N Ao'S0 tOS OuISSlV0S inc
letters that are SO CALLING to every
free ooinsge country to>day. 1t is
always wiser to look at things as thew
are and not - Wa would wish them to
10. There 10 neither sense nor safety
10 pursuing the mirage of our desires
until No perish in thu desert of realities.
The question Of tho adoption of
Tree coinage by the Unitei States
al"ns hes. We believe. been settled.
II will not be adopted. The question
aow 10 70 convince tho other prca.
nations represented at the monetary
sonfersnoe that il is to their interest
10 adopt . common ratio between
Eold and silver, and to agree to ac>
'eps thu metals. - offered, at this
alto. Thsre is no agreement. hut
hat dictated by enlightened self.
assssst that will be durable, .heref. re-