The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1892-12-17


PUBLISHING co.
SATURDAY. DECEMBER II. 1909.
0pr silver Dollar.
When we look at 1t right,we wonder
why 1t is that we have permitted the
silver question to gain such an aseen-
dancy In the financial affairs OF our
government. Only since the Interna-
honal monetary conference has met at
Brussels, and 1t has become evident
that gold is to be retained as the sim
gle standard Of value, has It dawned
apon many OF the people OF this
sountry that silver is an unstable
commodlty and can only be kept up
TO the value OF a gold dollar by the
special pledges of the government. or
the Sl,606. 1850. 735, which exists as
money In this country and Is supposed
to compose our circulating medium,
about $500. 000. 0O0 consists OF silver in
various forms, principally in Bland
. dollars, slowed away In the vaults OF
the treasury. The production Of sill
YER is increasing rapidly, and besides
our large coinage OF dollars our gov
eminent Is buying in the open market
every month one hundred aid ninety
tons Of silver bullion which Is carefully
slowed away where it does no good to
anybody.
1t is hard to tell which is the worst
feature of this silver question. the
coinage of deprecated dollars, or the
monthly purchase OF the vast amount
Of silver bullion. Both measures were
adopted by Congress to keep up the
price OF silver, but both after a fair
trial have been unsuccessful, and now
the news from Europe shows that we
can expect no help from that qusrteI
that will aid us in keeping up the price
of silver to anything like parity with
gold.
In this connection It may not b.
Rniss to give to the public the real
value OF silver as many people have
not given the subject much though
since the dollars they got passed a
par, and the purchasing value vas the
same as gold dollar Little do PEG
pie think sometimes that the only rea
son these pretty, white. so-called silvs
dollars pass at par Is because the cred
It of the Government is pledged (,
make up the deficiency between u sill,
yer and gold dollar
There are $50 grains OF silver in al
ounce. which can now be purchaser
at about sicents in tho open market.
II we put the entire $50 grains into
our silver dollar 1t would still he wort
only the 81 cents paid in the market
But our dollars fall far short OF this il
value. All the fine silver ia our Bland
dollar Is 81 grains. to whlcli is Is ad
Az grains Of alloy or has
metal, which brings tho total weight
of the dollar 10 to 4l2is grains Tn,
87i Z. grains Of ius silver that enser
into the composition OF our silver dol
lar is, at the present prices OF silver
worth only % cents; in other words
our silver dollar, instead of he.ni
worth 100 cents, Is ouy worth q
cents We need not wonder why on
deprecated silver dollar finds so lIltl
favor ia Europe. .-
Many persons then may ask why /
is that people SO willingly take the3.
65-cent silver dollars unquestionad 6;
par. Tie question is easily arswor1l
1t ls because the credit OF the govern
ment ls at the back OF them and thell
circulation IL more forced than volun
tary. They arc made by legislation
legal tender. We all remember tn
old 'trale dollar" They containe,
40 grains OF silver, nine tcnths Of whlc
WIS tine but because they were not
legal tender they were not wanted an
were forced out OF the market. fhes
65-cent dollars wuuld not remain a
par single hour wero 1t not for til
backing Of the government
II we had no dealings with oLht
nations we might get along with on
65-oent dollar, but wd dsal with othe
nations that make gold the staniar
OF value, and we must pay for Of
purchases there In gold, II foreIgue
take our silver dollars atall 1t is oni
at their bullion value, is cents. 5
Our gold goes abroad and our slIv
Is left at home. How long can W
stand this drain? With increased in
port ations expected with the ineoniI
81 81 a.