The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1893-02-15
The Silver Question.

A valued subscriber writes to the
Journal for information OH the silver
question:
"Please toll" he says, "in plain Ian
guage, what the fight on the silver ques-
ton means. read about it every day,
and each day become more muddled.
Can't you give-say in few words
what all this racket is about?"
It would take more than "few words"
question means, but the recent discus
sion in Congress narrowed itself down to
this.
The Democratic party are divided upon
the silver question some are absolutely
opposed to the coinage of silver; some
are in favor Of limited coinage, and
some are in favor Of free and unlimited
coinage.
The Sherman law now in force allows
the government to purchase 81, 100000 of
silver bullion per month, and to either
coin it or put it in the treasury vaults as
collateral and issue silver certificates to
the amount of the value of the bullion so
purchased. The bill to repeal this act
brought about the discussion. The bill
failed to pass,
Another lot OF Democrats are opposed
to the Sherman law, for they favor the
free and unlimited coinage Of silver, but
when they were confronted with bill to
reduce the purchase of bullion from ST.
100000 to S2,0OO,OOO, they took the lesser
of the evils, as they claim, and voted
against the repeal Of the Sherman law.
Under the Sherman law, now in opera
ton, the men who dig silver out of the
earth, carry it to market and whatever it
is worth in the market they sell it for,
just like any other commodity-:just as if
it was coal, cheese or cotton. The Sher-
man law restricted the government from
purchasing more than four million five
hundred thousand dollars OF silver a
month, but very soon there was so much
mined that it was not worth sixty-tive
cents per 4l2 grains.
The law requires that there shall be 412
grains of silver in q dollar. At one time
It cost the government more than dollar
to buy 4l2 grains. Now the 412 grains
can be bought for G5 cents, aud the gov
erument saves to itself the difference
between that price and the dollar it
issues. It is said that on account of the
splendid yield of silver in some recently
discovered mines that the government
can buy 412 grains, enough to make
dollar, for IS cents. The government
would then become manufacturer with
good profits.
fit is true that silver can be dug out
of the ground at cost Of eighteen or
twenty cents per 4l2 grains, the amount
that goes into dollar, then under the
Sherman law, restricting the purchase by
the government of more than 81 600
per month, silver will find it's own level
| Just like any other commodity, and the
silversmiths and jewelers. throughout the
country will be able to sell you cheaper
| silver watches, walters, gooiets and tea
sets. 1t is on account Of this fluctuation
| in the price Of silver that some arc oppos-
ed to its coinage altogether.
The esteemed friend who wrote for in
formation OIL the silver question seems
| inclined to free coinage, and asked what
| that meant. The answer is found in tue
| foregoing resume. Those who favor free
and unlimited coinage of silver simply
mean to say that when western miner
| digs 4l2 grains Of silver cut of his mine,
ali he has to do is to carry it to the United
States treasury and get dollar for it, no
matter whether the market value OF the
! 4l2 grains is 90 cents or G5 cents.
10 man who does not own a silver
| mine, or even has any kind relatives that
are Sc fortunate, it might appear that this
| would be favoring one industry at the
expense of others. Why not the farmers
| of the South send ten pounds of cotton
and draw chrome for it in the shape Of
an all-cotton dollar bill.
The failure to pass the bill repeating the
Sherman law will stop all further attempt
at silver legislation this session, and the
public will have rest until next Decem-
Der, unless Mr.. Cleveland calls an extra
session of Congress in the meantime
| atlanta Journal.