The Wadsworth dispatch. [volume] (Wadsworth, Nev.) 1892-1899, 1893-06-28

and the poor man are the chief sufferers
from the change.
The government has two remedies at
hand when its gold reserve begins to
melt away. 1t can stop the issue of
legal tenders or it can issue gold bonds,
which amounts to buying gold at a,pre-
flfium.
Legal tenders which have been issued
on silver bullion purchased at the rate
OF 4 ,500 600 ounces per month since the
passage of the Sherman Act of 1890 can
be stopped by the repeal OF the act. I'm
der that act the government had up to
February the first of the present year
bought $127 900, 900 and issued legal
tenders to that mount. Under the
Bland Act which preceded the Sherman.
Act the purchase cost over 1905 600, 900,
making a total outlay for silver during
fifteen years of $432, 000, 600. The mar
ket value OF this silver on January 25 of
the present year was 1851 600, 900, show
ing a total loss to the government since
the silver purchase began, Of $50, ZOO, 900,
or an average of more than $5, 000, 900, a
year. Now understand the difficulties
which confront the government in main
tanning a gold standard. 1t should be
borne in mind that since January LIST
1879 there has remained undisturbed in
the Treasury down to the beginning of
February last a good reserve of 500, 000,,-
900 as q fund pledged substantially for
the redemption of the outstanding legal
tender notes, or green backs amounting
to $346 DOC, 900. The addition of over
1891 600 900 in silver certificates to the
volume OF legal tenders taken in con-
nection with the treasury notes and other
outstanding government promises, raised
the total OF such legal tenders to the
amount of 1913, 000, 900 for which there
is 2 redemption fund of only $l00, 900, 900.
The millions of boarded coined silver il
the treasury, and bullion are of no use
whatever, 1t could not be sold for gold, for
the mere offering of it would start a
panic Ia the silver market and send the
price far below its present level. Its
presence in the treasury is a constant
menace to the financial and industrial
stability OF the country and to the welfare
Of the people. The continuation of the
policy is simply a benefit to the
johanna kings" and the few men that
get work. Then the whole silver move
ment is prompted by these men and it
would be"-far more wise to pay an
annual bounty of IS, 900 900 to keep this
silver out of the treasury.
The government has loaded itself to
the guards with the base metal and now
seeks to induce the unsuspecting foreigner
to help take care of the elephant.
Itsis well known hat since the Paris
conference the advocates of the single
gold standard have continuously urged
Congress to demonitize silver.
The moneyed interests of Europe and
the United States have been in close
league to stop our use OF silver as money.
They have resorted to every devise in
genuity could suggest to induce the
American people to abandon silver, they
do not intend that gold shall fall in VAL
ue. 1t is the fall of gold that haunts
them as the dreaded spectre of restora-
tom Gold will fall and and silver will
rise in value and meeting each midway
parity will be restored.
The holders of stocks, bonds and fixed
incomes are determined there shall be
no fall in gold and OH this line the battle
RACES,
But to be forewarned is to be fore
armed and it may be we'll at a time
\ when our land is in such a financial CON
dition to- take proper steps or our country
will be in such another uproar as the
grand panic of 1857.