New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-19

Unite GOLD AND SILVER IN SINGLE COIN
To the Editor OF The Tribune.
sir. Tie United states have declared by formal en-
actment their purpose maintain parity Of value be-
tween gold and silver coin metals ana tn" material
interest, Of millions OF cOunrvmen are involved
in Tie. continued permanence Of that policy. Many
diverse Influences both natural and artificial, con
,tau,lv tend toward it. overthrow. The greatest
cau,e o. the rivalry between gold and silver, and the
CONSEQUENT danger Of mpalrng the relative value OF
the TWO metals, arises from the fact that We keep
them separated from each other IN onr coinage ~
long A. this policy Is followed the antagonism will
increase and difficulty Of maintaining the desired
parity Of value will De augmented.
Instead of pursuing our present coinage policy
which naturally eNces this metallic rivalry. II should
Dee our aim to harmonic and unity the relation Of the
prccons metals so that their relative value may con
rinuc without tendency to become unbalanced. This
can only be- permanently accomplished by abandoning
the separate coinage OF gold and silver and adopting
i'm their place new coinage composed OF an actual
union Of both Adopt a standard, based upon the
present current value of the metals and create a
new coinage TO be designated. an Illustration, the
American union standard COIN" composed in equal
parts in value Of gold and silver. It's real value
would thus permanently continue TO be the average
value OF gold and silver.
objection will Of course be made that we should
TIM, have coin OF unstable value. IL would I'm
mcdiatey Us upon different basis Of value from
other countries adhering the gold standard but We
would soon overcome that objection with the ad-
vantage Of having settled within own domain the
embarras sng question constantly menacing OF the
difference between a gold standard and Il silver
standard.
There are two great divisions into which the none
tary question may readily De separated. being for
in all domestic transactions and the other for the
settlement Of foreign exchanges. 1t will not be ques
toned that the new coinage would answer every plr
pose OF domestic use and 1t Is equally true that we
have no great need of coin for foreign Gold bars
are really better and economical for shipment
TO foreign countries than gold COIN while for the
yenience OF travellers going abroad, foreign coin can
always be readily obtained and quite desirable
for snch use as American cOli Apparently, we are
RAPIDLY approaching crisis which must be met by
arbitrary legislation. on hand the demand h
vigorously made that shall adhere 10 the Goid
standard sud thus PROSTATE the great industry OF
silver mining and the other to continue our pres
emf policy with the danger Of driving gold out OF CIR
culaiion and drifting 10 silver standard Is IL not
better To abandon both and promptly ADOPT z poihy
which will permanently make both gold and silver the
basis Of nj % our circulating medium toiioWlns
the prccedens o. gold ard silver certificates the thu
Stat.- cOuli adop new paper 'ur'n'f hi9'u uIvvn
and rCdremablc In the pr"posei new calnas,: 70 d.,
designated American union standard ceruhcalt~
This new currency would readily become the standard
circulation Of the country ana would answer every
purpose OF domestic while the new coinage Would
speedily find its way into the vaults OF the 1oVern-
ent ard Of the banks throughout the country AS the
reserve fund Of each ,.
n be realized by the policy proposed but my object
smnlv IN state the proposition and leave It's dis