Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1893-10-12
THE SILVER SITUATION.

It is hard for US to believe it posi-
BILE that the people who are clamor-
ing for "free and unlimited coinage
of silver" understand what they are
demanding. Doubtless the politicians
dc, but, for policy's sake and pers
sonal ends, are pandering to the Pop
ulistic heresy. Let's see, the report
of the Treasury Department of the
1st of October shows the amount
of gold and silver coined to be as fol-
lows
Gold coin. .. 1858. .479.252
Standard Silver Dollars. -. $419 ,332.55O
Subsidiary Silver $77.596 621
Total Silver coin $596, ,929;171
Let US deduct the amount of each
metal now in the Treasury and this
will show the actual amount out in
the hands of the people, banks, etc.
for circulation.
Total gold coin... ..-.... $553.479, ,2o2.
Amt in Treasury ....... S72.l23. l28.
Amt of gold in circulation. $461 .356.154.
Total Silver coin. .......... 1886, ,929 III,
Amt IN treasury. ..0Io, o,99o,S99.
Amt silver in circulation. 1929 ,932,873
This statement does not include
any bullion, bills or certificates, only
actual coin.
Note, that out of the gold coinage
Of $553, ,479,282 only 13 per cent. of
it, $72, ,123, ,12S, S,remains in the Treas
ury, the other 81 per cent. being in
the hands of the people for circula-
tion. While of the total silver coin
age, $596,929,171, 63 per cent. or
1878, ,996,299 still remains in the
Treasury, Leaving only 81 per cent.
in the hands of the people for cir
culation. This is a significant fact,
and it would be we'll for the adyo-
Gates of free and unlimited coinage
of silver to explain why this is So.
What is the reason for this-the
''poor mans currency" sizver, piled
up by the hundreds of millions in
the United States Treasury with but
few $50 poor as to do it reverence" "
and still the wheels of business in
every department of industry are
languishing and bankruptcy staring
many in the face, while the attorz
neys and proprietors of: silver mines,
in the peterborough States, with
their populistic abettors from the
South in the U. S. Senate, are kills
ing time in worse than imbecile
talk?-Criminal disregard Of the best
interest of the whole country, There
are at least two reasons why there is
such difference in the circulation
of the twometals.
One reason is convenience of hand
ling and transportation. To illuss
trate, let man who wants $1,000,
more or less, go to bank and pre-
sent check for it, and the Cashier
begins to count out to him silver
dollars, and before half dozen are
counted vigorous protest will at
once be made, he 'sdon't want silver" !"
he s'can't carry it,'' he 'swill have to
borrow horse and luggy to get it
home,'' and if the bank officialt in-
sists on paying him silver, the atmos-
phere soon becomes blueand sulphur
GUS with anathemas against the bank
and officials, and yet, this same man
will go out and howl for more silver
the 9'free and unlimited coinage of
silver ''more money" of some kind.
The other reason is the actual in
trinsic value of the silver dollar,
is but little more tEan one half
of the gold dollar, aid there is
distrust of it in the minds
Of ali the people, and nobody
wants silver when they can get gold,
and the governments imprimature
don't change the intrinsic value of
thesilyer il the dollar. (so-called:)
hence when the Treasury Departs
ment has to pay out money the party
receiving demands gold, and the
government must pay gold. in order
TO maintain the parity and inter
changability of all dollars it issues.
The moment the government refuses
to pay gold when demanded by a