The Big Stone Gap post. [volume] (Big Stone Gap, Wise County, Va.) 1892-1928, 1893-03-16
Silver as Money.
THE Progressive South. ),

Silver as Money.
The Progressive South
Some of the advocates Of silver advance
the argument that if the Government may
issue one thousand dollars in paper notes,
worth intrinsically nothing, why should
objections be raised to the same Govern
ment issuing one thousand dollars in coin
actually worth seven hundred dollars?
We may partly answer this question by
asking another If farmer is Indebted
to one of these silver men one thousand
dollars, and that farmer rated we'll iinan-
cialv, which would be more preferable
to accept that farmers check, worth
nothing ntrnsicalv, so far as the mere
materials are concerned, for one thousand
dollars. or to receive one thousand bushels
OF wheat worth on the market seven hum
dred dollars?
There must be some standard by which
Il commercial people may measure the
commodities in which they traffic. Gold,
being less huctuating, has been taken IS
that unit of value; hence gold dollar Of
paper dollar is of no material value, but
4 Government guarantees the paper and
gives it purchasing power to the extent of
Que dollar, or its face value. The silver
dollar is a coin of metal which, like cot
ton, wheat, iron, coal, etc, is worth, say.
seventy cents to-day, and tomorrow more
or less, according to the state OF the mar
kct; therefore it has not even the actual
stability of the paper dollar.
From a democratic standpoint it ap-
pears good politicn! economy to use paper
instead of silver for currency in every day
use. The cost of one is small compared
with the other. Paper money is most
convenient and when issued so rs to make
it valuable, by government guarantee, it
is equally as safe and more economical.
We are not opposed to the coinage OF
silver or to having notes rcdecmable in
gold or silvc" at the option of the holder,
but we DO object TO the government pur-
chasing Il large volume Of metal, paper or
any otEcr commodity for which ii has no
actua, need, especially when such COM
rodites show decided tendency towards
deprcciation To compel the government
to continue silver purchases undoubtedly
benefits the silver men; like policy
would benefit the railroads, if the govern
ment could lie made to purchase their de-
clining stocks and hold them at par; it
would likewise benefit the farmer and
planter if the government would purchase
sevemtv-ccnt wheat and seventy-cent cot
ton, but we fail to see where the govern
ment is benefited, il after holding these
articles it has to dispose Of them lit less
than cost.
A railroad Ticket when made Of paste
board is good for certain amount Of
passage when properly stamped. If the
ticket itself contained twO-thrds OF its
passage value in silver or other metal it
would be worth no more to the holder
than the pasteboard as n firstclass rail-
road ticket is good until used and salabe
if uncancellcd for more than two-thirds
the price of passage. would hcnefit tie
silver producers were railroads compelled
to use silver tickets, but such compulsion
would he disastrous to the companies and
confer no greater benefit upon the travel
ing public.
We concur in the belief that silver is,
ocrhars. the best material for coins of
less value than one dollar as it is ncccs-
sarv that such coins, being issued for
convenience-salie,s should not contain their
worth in themselves; being less dcstructi-
bic than paper, they suit this purpose
better: being less valuable ,than gold,
there is not the same loss from abrasion.
We Lave no objection to silver; on the
OTHER hand we are always glad to get it,
especially in exchange for deits Of a
doubtful character We see no valid OBJ
lection to the government coming it to lie
used as money in such amounts as discrc-
ton may dictate; yet, we can discover no
benefit, bul rather evil, from compelling
the government to purchase Il certain
onantitv whether It's necessities require ii
or not: it is certainly forcing the people,
who constitute the government, TO sustain
a loss that is useless, and l'ayors a doctrine
condemned by the Notwithstanding a
few ut the expense Of the many.
Remarkable Coal.