Arizona silver belt., 1893-06-24
THE SILVER QUESTION
IN. 0. Picarnne. Jnne 1ll


 There seems no end to the diTcnssion of the silver question, Some points in discussion are worthy of more consid- eration than has been given them.
 One, the withdrawal cf all bills is- sued by the goverhment and national banks below the denomination of S10. That would put into circulation many millions of silver coin. It would be received by all Of the agricultural and mecanical interests of the country with joy. Once in their possession, much of it would he hoarded, whereas, with United States or bank notes, they are 80 liable to destruction i'll so many ways that they are seldom put aside by the people, There is no objection by the masses ir the country to silver; the objection comes mainly from the wealthy and the banks. The wealthy man thinks he is overloaded if he has S5 in silver in his pocket. No, he pre- fers to have it in rag notes, The banks object to silver, because of it's bulk; in their business it would require a little more clerical help to handle, and little more vault room to store. We'll, certainly, the banks could we'll afford these increased labors, consid- ering their annual profits and the soundness of their holdings, and it might result to their profit by increas- ing the sale of exchange, Irepeat the main objection to the use of silver coin lays in those two objections The government should give it it's credit, and make it legal tender in any sum, the same as gold, and, like gold to a great extent. It would remain in tlie vaults or the banks of the natior as basis for credit. The value of gold and silver coin is determined by na- tional legislation eyen copper and nickel are made to have Q currency value by legislation. The prevalent Idea that the purchase of silver bullion by this country is the cause of the withdrawal of gold for export is a mis- take
 In your issue of the i4th inst. is re- ported conversation with Secretary Carlisle, in which he is made to say that the amount of silver bullion pur- chased during certain period was S49, ,96l, 1000, and paid for in treasury notes, and that during the same time s47, ,7l5, 900 was paid in gold for the re- demptlon of said notes. "It thus ap- pears that all the silver bullion pur- chased during that period, except s2,2l6,011 worth was paid for in gold" This is neither fair nor cor rect, in my opinion suppose there had been no silver certificates issued. Could shippers not having presented the United States treasury notes for redemption2 Has there never been geld shipped before this year? Why, then, say the notes issued for the pur- chase of silver bullion was the cause of the withdrawal of gold? The shippers of gold are not bullion sellers, and so long as the government pays out gold for silver certificates, which are re- deemable at the option of the govern ment in either gold or silver, they will prefer the gold.
 The solution of that question de- bends wholly upon the balance of trade 1 between this aud foreign countries. 1 Look at the balance of trade against us in the past nine months S7o, O0o, ,O0O i and if am not mistaken, about this amount has been drawn from us in gold. Witness the report some two weeks since that large sum in gold | would be shipped by next steamer, but there sprung up a demand for cot ton and other staples, and furnished the market with bills of exchange, which were taken in preference to gold.
 The remedy, therefore, seems to lay | m an increase of our exports, or an of foreign trade The pur- chase of silver bullion has nothing whatever to do with the export of gold. Let the government establish q oasis of value for silver equal with | that before the Sherman demonetfzing lct of 1873 was passed, and make it a legal tender for all &unTs, &ad then rour-fifths of the people of this country | will have cause for rejoicing.
 l.. J. WEBSTER.