Democratic messenger. [volume] (Snow Hill, Md.) 1869-1973, 1893-10-28
FoR SURVEYOR:
WILLIAM j. SlIOCELEY.
TIIi: SILVER, QUESTION.

In view of the vasucncS> Of much
of the talk about our finances. il is
well occasionally t. see Just what the
coins are that are under discussion.
We now have IN list four silver and
five gold coins. The silver coins are
the dime, the quarter, the half dollar,
aud the dollar the gold coins are the
dollar. the quarter eagle, the halfcaglc,
the eagle and the double eagle
The values of these coins are of two
kinds: the value given by law and
the intrinsic value Onc Of the crucial
facts in the present monetary contro.
vcrsy Is that the legal value ami the
intrinsic value Is the same in the case
Of all the gold coins They are worth
no more when coined than when beat
cn out of recognizable SHAPE aud they
are Of nearly staple value all ever the
earth in America OF in Europe.
6ut in the case Of the silver coins
there is "a wide Discrepancy between
the legal ami The intrinsic values. \
piece Of silver which the law compcls
lab"rcr To- take for dollar in pay
mcnt for work could b. bought, il not
coined. ior sixiy-iivc cents II taken
10 London or Paris il could be- sold
only for slxiy!iy cents, whether with
or without tho government ; stamp. In
other words lis intrinsic value Is only
sixty five cents.
30 of the other silver coins. The
legal value Of the dime i, ten ccnt>
the intrinsic value only SIX and eight
hunirc,lihs cents. Tie quarter is worth
hy law twenty FIVE ccni, inirimsically
about fifteen ccnis The half dollars
inlripsic;Illy i worth thirty cents.
Legally. ten silver dollars are equal
~ value TO one eagle imtrinsically IN
eagle il worth more than fifteen silver
dollars.
y natural question here is, why is
there such variation in The relative
value of coins of the same system, in
e.....t..I
he received in business iud;ilcrcmtly .
A. Ia the subsidiary coins. the dimes,
quarters and ha!vcs, the answer i, that
the quantity Of silver contained IN
them WIS fixed hy law many wear,
ago, whcn the intrinsic value of silver
WAS advancing; ami ii The quantity ni
silver in these coins had then been
made enough IL equal their legal
value, in II few wears. their intrinsic
value would have gone beyond their
legal value; and they would have bcch
worth more rs bullion than n coin
Consequently, there would have bccu
profit IA melting TIN coins and they
would have disappeared from circula
ton. Moreover, "a, small coins are moi
made legal tender. and ar, really only
tokens. there Is no harm done IL
having Them lightweight.
l;m, with the silver dollar III. cun,c
pm"nrcs M" mere serious. y man VIII,
has 4 contract 10 make on which he
will be pad YEAR hence, wonder,
whether he will be- paid in hundred
cent gold dollars or IN sixiy-iivc cen
silver dollars y ing n the ntc,
States government = willing 10 bolster
up the siXtr-!ivc cent If government
credit tie hr.;iI,s, i.am docs not ear,
which dollar be- viii get i.ui when
he hccen,,> dou'i.t,i how long III,
gov"rnE,ii viii b, abb e. keep ~,
the parity between the t,yo dollar,. Il,
derllncs tp make contracts, an bu,i
mc>- l. said 3" L.. ''d,9.ns, IT,
lhc n.c,hud hy which lhcsc iu,
dollar. o'i" worth on. iNiy Eve ccnl,
and ia" oiicr worth one hundrc,
cci.l-. are kept ;!l"r, IS by yir,ur o.
added value p.vrn hy the government
pr"mis'. {" ~ "a It. :, .oufrt.s in I,eci
h. holder Of siNtr-'ivr cent dnllar
."enrr against los 'mlc.s tie gov,rn
mcmi c"utiruc. - i, Thu. il viii =,
guilty ri di,hnl.efv II -. ,uucl