The Port Gibson reveille. [volume] (Port Gibson, Miss.) 1890-current, 1893-10-06
The Result OfFrss coInsss.


The United States can maintain q
parity between gold and silver up
to certain point. II can exchange
gold dollars for silver dollars, or for
paper dollars, just as long as ii has
gold dollars with which to answer
such demand but there Is limit
TO this ability. Whenever the day
shall come in which the treasurer,
for lack of gold, cannot redeem in
gold coin, notes issued for silver, then
that very day the parity of gold and
silver dollars is lost. The treasury
has already approached such cris-
is, and so far 1t has escaped, but It
has been most plainly apparent that
such time is net far off If, through
the operation ofthe Sherman law, sill
yer shall be dumped In vast quantis
ties into the United States treasury.
The country will be flooded with
silver coins, or certificates, beyond
the ability to make them good mi
gold. The government to-day has
no means Of getting gold, saye by
purchasing ii. In order to purchase
It, bonds payable in gold. bearing
gold interest, will have TO be Issued.
IL will then become necessary for the
treasury to call in all notes that
have been issued for silver and fot
which gold can be demanded, and
stop the further output OF any SUCH
or else it will be impossible to keep
any gold reserve on hand. Silver
will then have to be coined and
forced into circulation, or it will have
to be represented by silver cerlii-
Gates for which gold cannot be. de-
manded.
Then the bimetallists will have
succeeded in their object. They
will have secured two sorts Of doll
lars one worth somewhere between
90 and go cents, and another worth
100. The wages Of workpeople will
be paid in silver. The farmers will
be forced to sell.their products for
silver. But all mortgages on their
farms will be made for gold. Then
gold will be held at a premium, rs
il was from 1862 to 1873. Why
should they wish to repeat it2 But
this would be bimetallism with a
vengeance.
Ii the Sherman law shall not be-
repealed. ia the the fioodgates of
silver shall iremain open, the time
will soon come when bills OF saleS
bills payable, bank checks, contracts
to pay money, mortgages on proper
ty and all such commercial instru-
ments will cease to call for dollars
Of the United States, but they
stipulate for payment in silver dol
lars or in gold dollars. A dollar
then will cease to mean a definite
sum Of money, but n gold dollar of
a silver dollar will have to be set
forth as the unit OF value in each
specific case.
There is no reason why such n
state OF things will be objected to
by the banks and capitalists. They
viii lose nothing. They will only
receive silver deposits on the con-
dition that they are TO be paid out
in kind TO the deposition. IL will be
the man who is in debt that will suf-
fer. He will have to take in pay
ment for wages or his products such
money as he can get. He will be
forced to pay his notes and mort
cages in gold. OF course, when
there shall be two sorts Of dollars
in circulation, merchants will have
two sorts Of prices for their goods.
Every article will be so much in sill.
yer, and so much less in gold. At
rates which exist between the met
ais, the man with the gold dollar
could then be able TO buy nearly
twice as many yards or pounds rs
could the man with the silver dol
lar. Does any person suppose that
under such circumstances, the work.
people will get their wages in any
thing else but silver Y-Abridged