Frostburg mining journal. [volume] (Frostburg, Md.) 1871-1913, 1893-08-05
M1N1Nes{I JOURNAL
MD. 5, 1893.
Silver.

Silver.
One of the most difficult things to do at
times is to reconcile the logic of one editorial
column of the JOURNAL with the philosophy
of another In several places in its last issue
it endeavors to make it quite plain that
existing financial troubles can only be cured
by the demonstration of silver through the
repeal of the silver purchase law. In another
column it intimates very broadly that the
panic of 1873 was brought on by the under
hand, snealing manner in which silver was
demOnetized in that year. We really would
like to see the great paper stay on one side of
the fence or the other. If the decentralization
of silver caused panic twenty years ago,
how will resort to the same measure bring
about an opposite result now ?-Cumberand
NeWS.
The JOURNAL has carefully re-read
its issue of last week and cannot find
q sentence that can be fairly construed
rs an effort "to make it quite plain
that existing financial troubles can
only be cured by the demonetization
of silver through the repeal of the
silver purchase law"
Consequently, the Necs' conundrum
is inapropos.
The JOURNAL is not in favor of
demonetizing silver, but it does hope
the government will stop making a
pampered pet of it as commodity
partially which it has no right to
bestow upon any interest.
As money silver is acceptable to 80
per cent. of the people of this country,
and as such we do not believe it can be
destroyed until the people stop ruling and
monarchy takes the reins
But as a commodity silver is entitled
to no governmental preference. Like
all other interests, it should fight its
own battles, the field being fair and
the auspices impartial. No more Of 1t
should be produced than buyers aoiU take
whether those buyers want it for
money or for wares
The JOURNAL expects Mr.. Cleveland
to say. in effect, therefore, that govern
ment has no right to ''boom' silver
for any purpose; that only when it
is needed for the currency that is most
acceptable to the most people, govern
ment should not be required to buy it
at price higher than the lowest
market figure.
AS to coinage for private individuals,
the mints should treat them as mills
treat farmers-take the smallest toll
for machine work. The people en- masse
have to pay the same for the same
work.
AS to the ratio-there's the rub On
this neck of land stand the legislators
of finance, better known as the
gamblers-the men who enact the laws
Of trade and repeal those of the people
whenever corner" is to be set up,
or an interest is to be pulled down.
SO that when ratio is fixed, parity
established, and the margin destroyed,
national and inter national, what
guarantee will we have that "the
market" will not resurrect the dead
margin before next week
None whatever.
Hence, the only visible check that
can be put upon those gentlemen is to
limit the supply of silver to the actual
demand for silver for all purposes for
which silver is used.
For so long as silver is over-pro-
duced, SO long will it give trouble
These are the JOURNALS views of the
silver question.
If they are erroneous, it is just to all
concerned to say-they are not bor-
rowed.