The comet. (Johnson City, Tenn.) 1884-1916, 1893-11-30
The Status or Silver.

Between the demagogues who pur-
posely mislead, and some editors who
think they know and don't, it is small
wonder that vast amount of misln-
formation still exists among the PEG.
pie regarding the status Of silver-not
withdrawing the lengthy and numer-
GUS discussions In Congress, in the
press and elsewhere.
AS II sample of the kind Of instruc-
ton acc rded the masses on this sub
ject In some quarters we offer the fol-
lowing from very esteemed contem.
porary which, for its rare lucidity and
remarkable logic, Is degree ahead OF
anything else yet presented
There's but a little over sos, 900 600
OF this silver in circulation. The bal
ance is locked up in the treasury and
no way to get it out. All Of this silver
which is guaranteed by the act repeal
ing the purchasing law is made re-
deemable in gold consequently, is de-
monetized. Can't you get this simple
truth into your thick Uranium?
Here's richness for you! The Ban
ner has erstwhile striven with this
contemporary in the spirit of love and
the cause of truth, but such wild dec.
laration as the above brings it to des-
pair. There is utterly no hope for q
newspaper that talks in that atyle.
The lately passed repeal bill was an
exceedingly simple measure. It's only
purpose was to stop the purchase Of
silver bullion by the government, and
that is all that it has accomplished.
That portion of the Sherman law
which provides for the coinage OF the
bullion In the treasury is still in force
and will be duly executed. The full
capacity of the minis for four or five
years will be required to make this sill
yer into dollars.
The legal tender value Of silver has
been in no respect impaired. The
standard silver dollar is the same sort
of coin it always was and on a perfect
parity with gold. 1t is as much money
as it ever was, and rs much SO AS it is
in the power of the government TO
make it.
When all the bullion in the treasury
has been coined there will be approx.
mately 5000 100000 of these standard
silver dollars in The country.
To demonetize silver means to take
away its money value, as has been
done in England, Germany and other
countries where silver is not a legal
tender in the payment of debts. 1t
would be as much sense in applying
the phrase to gold as to silver IN this
country, for here both are equally
money. The money status of silver
was no more affected by the passage
OF the recent repeal act than was the
money status If gold. Both are money
alike. The only difference in the
treatment of the two metals by the
government is that one can be coined
at the minis by the holders and tbs
other can not. The coins made OF the
two are in every respect equal as far
as legislation can make them equal.
That silver doesn't circulate freely
ia because of it's bulk and inconveni-
ence, but against every silver dollar in
the treasury silver certificate has
been issued, and these certificates are
not redeemed in gold" They are
good at the treasury for the silver
dollars they represent and nothing
else. None OF this, however, has any
thing to do with the repeal act. The
silver certificate arrangement has
been in effect for some years, and
was invented to make silver dollars
available.
The treasury notes issued for bullion
purchase are interchangeable for gold
at the treasury on demand Of the hold.
er, but they are issued again after such
interchange and will be finally redeem
ed by the silver dollars coined from
the bullion they purchased.
An apology is due the intelligentpub.
lie for the printing OF these facts in
primer finance, but the foolish talk
about the demonstration OF silver"
not only from inconsequel,tial news
papers, but men like Senator Harris,
| Is so common as to render essential
some b 6 lessons on the subject.
Silver money is good money, thanks
to the governments credit and the
limit placed on its coinage, and there
ismore Of it in the country now than
ever was before in the country's his.
representative times as much as
was coined in the entire period III
which free coinage laws existed.