The Neihart herald. [volume] (Neihart, Mont.) 1890-1901, 1893-03-11
IN FAVOR OF SILVER.

MONDAYS independent contains
New York despatch announcing
some cheering news in favor of sill
YER. 1t is a brief resume of a GER
tain pamphlet lately circulated in
Wall street, prepared by II. Nj.
Benedict, containing what purports
to be the financial policy of the new
administration. Its plans may be
stated as follows:
l. To establish an equivalent" or
reserve fund for the purpose of
maintaining the parity of gold and
silver.
2. Gradually to retire the legal
tender notes, stop the issue of treas
ury silver notes under the Sherman
law and provide for paper currency
based upon actual coin placed IN de-
post with the Governments; there is
to be no paper currency whatever
except coin certificates, which are to
represent so much money held by
the government.
The opinion is expressed as COM
ing from the administration, that it
opposes free coinage as being i'm
practicable, and International agree
ment as not being feasible. But the
same authority favors the fixing of
a reasonable ratio of values of gold
and silver, and thus, by means of
the reserve fund of both gold and
silver, preventing any huctuation in
this established ratio.
Now this ratio may be established
as 1871 as United States money is
now coined, or it may be placed 1874
or even 20:1. There is every assur-
ance that such a law as would place
silver entirely out of the spectators
hands could only result in good fol-
silver producing districts. A ratio
established at IS to 1 makes al
ounce of silver worth about S1.29
at Is to /, the value is nearly Sl.1o
at 20 to | the value of an ounce o
the white metal is fixed at abou
s1.O3. OF course all people of the
west, would prefer the first, bu
even the last could not be other thai
a benefit.
Let the market price of silver
start gradually to rise. Let it agair
tip the 90 mark; let it pass tina
point, and with courageous bearin:
let it approach 95 cents an ounce
The effect upon western securitie
and western enterprise would b
marvellous. Our lethargic industrial
conditions would rise to most wei
come conditions of activity. East
ern money would begin to loosen u
and to flow into western channels
Sales of western property and deal
for mammoth western works woul
be completed. A feeling of conf
dence would pervade the capitals
of the west.
But let silver reach 81 an ounc,
then let it advance by "A stead
course to S1.U3, which is the lowe.
value possible to conceive as bein
placed upon it by law. Further l'
us know that this figure will be pc:
manent, that the government wi
not allow the figure to vary but wi
hold it with gold as a standard of a
values, and the sublime confiden,
which will possess the public min
will know no bound. Indu:
tries of mining and handling silv'
will make tremendous strides. +,
erybody will want mining propert
There will be small fish and big fl.
alike swapping at the bait. The
real estate will be sought for at st
prices, money will be aAoat with
the reach of everybody, and busine
will tear ahead with the alacrity
a lion just freed from his Gag
Then this glorious Belt Mounta
country will experience the long e
pected reaction from the superlati.
lullness which her citizens in a bu
mess way have experienced for ii
past two years. The report seer
too good to be true. But all L
democrats will tell you it is SO. l.
it be so and everything else beir
equal we will h%enceforth be dem
Gratis.