Southwest-sentinel. [volume] (Silver City, N.M.) 1883-189?, 1893-02-28

presses their thought IN a sentence:
Good policy is to be used that the
treasures and monies in a state be
not gathered into a few hands, for
otherwise a state may have great
stock and still %starve; and money is
like muck, not good except it be
spread"
The distress which the depress-
ed value Of silver is working among
the English in India has raised a
movement in England to force up
on India a gold standard; the more
urgently as the fall in the rupee is
acting as a protective tariff against
the Lancashire cottons. The change
is withstood by the more expert
enced Indian officials because of
its stupendous injustice which in
the case of India, is palpable al
though the injustice is the same in
principle in Europe, but being
much less in degree it is not so
manifest. For IN India all obiga-
tions whatever have always been
valued in silver alone, whether
taxes which are permanently fixed
upon the land, or rents, or private
obligation. If these are now eXac-
ted in gold the natives will be ru-
ined; for they r poor and the
margin upon which they live is
very slender. The preference for
silver, based upon their history
and traditions, is even stronger
than the English preference for
gold. Their boarded treasures are
in silver, and a Mongol invasion
would cause less disaster than a
change of standard.
All those who can remember the
hopelessness of the business out
look which proceeded the gold dis
coveries of California, know how
the inflow of gold armed with new
life and hope the business energy
of the world. Gold was not demon
cited, although the proportion Of
its production to that of silver was
as 76 to 23-although the usual pro-
duct of FIVE years was rolled into
one. As the production of gold is
falling off the production of silver
will probably fall off also. 1t has
fallen off in Nevada Is per cent
since 1878, in Arizonia &C per cent
since 1882, and in New Mexico 5C
per cent since 1885, and although
the product of Colorado, Utah and
Idaho has increased, there is nc
probability that it will keep up al
the present rate. Meanwhile the
crusade against silver is disturbing
society and if it goes on to its log
ical conclusion creditors will re
ceive besides their interest double
their principal in food, clothin!
and land; for land is valuable onl.
for its products, and farm land
would not fetch 80 per cent Of thei
value 20 years ago.
+ Some such thoughts as these ar
at the bottom of the widespread aC
: ceptance of the silver certicdat
5 among the middle classes of tn
United States. The phrase do
lar of our fathers concisely EXPIRE:
1 SEES the fact that, until very receT
years, the silver dollar was the bt
/, sis of American trade and that Tia
|, mass of the people regret it wa
meddled with. The popularity {
+ the silver certificate expresses ale
the survival of the doctrine e,
n pressed in the constitution, thong
e obscured in the exigencies of civ
war, that nothing but silver al
It gold should be legal tender; al
d these certificates represent actu
concrete specie, as no other iss'
) ever did. The outcry that they a
not honest money is met by the b
lief that the depression in silver
/ artificial and hat to enhance
o. law the value of the contract dc
81 lar is as wrong as to diminish
" one is as honest as the other a
one phase is as sincere as the OF
Is er. The mine owners no doubt a
IF itate in their own interest and,
it they were alone concerned, t
4. question would excite little attic
A. ton. The interests at stake q
rs far wider-they extend over
10 world and Gfect the property
ne all; for the Legislative meddli
IN with the worlds money metals
or raising the question whether it
he more honest to exact one hundr
re and twenty-five cents or to tenC
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