Mohave County miner., 1893-08-12

. 4
these notes had been issued In payment
Of silver bullion purchased 10 the amount
Of more than $i47.000, 900. While all
but q very small quantity Of this bullion
remains nDcoined and without useful,
ness 10 the Treasury, many Of the notes
l given 10 its purchase have been paid In
gold. This Is illustrated by the state.
ment that between the first day OF NAV,
1892, and the 18TH day OF July, 1893.
notes OF this kind issued in payment for
silver bullion amounted 10 little more
than s54 900 900. and that during the
same period about si9, ,000, 900 were paid
BY the Treasury IN gold for redemption
Eof such notes. The policy ecessarily
adopted Of paying these notes in gold
has not spared the gold reserve Of sio0..
900, 900 long ago set aside by the govern.
ment for the redemption Of other notes
For this fund has already been subjected
to the payment OF new obligations
amounting TO about $3.50, 100000 on ae-
count OF silver purchases. and has as a
consequence. for the first time since iis
creation, been encroached upon. We
have Thus made
THE DEPLETION or OUR GOLD EASY
And have tempted other and more APP
preciatiye nations 10 add ], 10 their
stock. That the opportunity We have
offered has not been neglected is shown
by the large amount Of gold whi,h have
been recently drawn from onr Treasury
and expected 10 increase the financial
strength Of foreign natIons.
the EXPORT AND iMroKr on GOLD.
The excess Of export of gold over the
import for the year ending Jnne 30,
1893, amounted 70 more than sS7, 800.
coo. Between the frs, day Of July,
1850, and the 18th day of Ju'y, 1898,
the gold coin and bullion 10 our Treasury
deereasedInore than sl32. .OOO. 200, while
during the same period silver coin and
bullion 10 the Treasury increased more
than sl47 .00o,0 900. Unless Government
bonds are 10 be constantly issaed and
sold 10 replenish our exhausted gold.
only to be again exhausted, il Is appaI- |
ent that the operation Of the silyer.pUr.
chase law now in force leads In the di.
rection Of the entire substitution OF silver
for gold In the government treasury, and |
this must be followed by the payment OF
all government obligations in depre. |
ciatsd silver
AT RUS STAGE GOLD AND SILVER MUST
PART COMPANY. So
And the government must fall In Its |
established policy 10 maintain the two
metals on parity with each other.
Given over 10 The exclusive use OF a cur
rency greatly deprecated according to
the stand Of the commercial world, We
could no longer claim place among the
first nations OF the world, nor could our
government clam the performance Of its
obligations, 30 far as such obligation
has been imposed upon IL 10 provide for !
the use OF the people the best and safest
money. II, as many Of its friends claim.
silver ought TO occupy larger place in
our currency and the currency Of the
world through a general international
corporation and agreement, IL 10 obvi-
Gus the United States will not be in a
position TO gain hearing or favor by
such an Arrangement so long as We are
willing 10 continue onr attempt 10 &C.
complish the result singlehanded. The
knowledge in business circles among our
own people that our government cannot
make It's faith equivalent 70 iis intrinsic
value nor keep inf, ricr money on
parity with superior money by It's own
independent efforts, has resulted In such.
ALAcK or CONFIDENCE AT HOME.
In the stability Of currency values, that
capital refuses It's aid 10 new enterprises,
while millions are actually Withdrawn
from the channels OF trade and commerce
to become idle and unproductive In the
hands Of timid owners. Foreign invest.
ors are equally eiert, and not only de.
cline 70 purchase American securities,
but make haste TO sacrifice those which
they have. IL does not meet the situa.
ton 10 say apprehension in regard to the
future Of our finances Is groundless, and
that there is no reason for lack Of con.
fdence 10 the purposes or power Of the
government in the premises. The very
existance Of this apprehension and lack
Of confidence, however caused, is men
ace which ought not for moment to be