The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-08-29
HOW TO GET GOLD.
How the Silver Dollar Is Keptata Parity
Some Inquiries Answered.

To the Editor of the Philadelphia In.
quirer.
Enclosed you will find n clipping from
n Philadelphia paper. Please explain
why the man could not get what he
asked for. The clipping reads as fol-
lows:
This morning q reporter climbed the
steps OF the splendid Greek portlco
which fronts the custom house and
made his way TO the su~b-treasury.
He wanted to get gold for silver pri-
murlly, but he was after Il on the plan
laid down by Mr.. Warwick, of getting
n treasury note and then having II re-
deemed In the standard coin.
Mr.. Biglcr, the genial assistant treas
urer, was not present at the time, and
the next in authority, Cashier Farley.
was seen.
The reporter produced a fine, healthy
looking silver dollar, stated his errand
and asked for u treasury note.
Mr.. Farley smiled. and from the
height Of his superior knowledge OF
la%byrlnthal government finances. shook
his head a most decided mo"
why not?" asked the reporter.
well, We don't pay our treasury
notes for silver. In fact, we don't pay
out treasury notes at all except in re-
demption and for other treasury notes"
!. How does the government keep gold
and silver at parity IL It does not re-
deem all legal tenders in sold7
2. II tho party had asked for n gold
dollar for the silver one would IL have
been given to him?
,. Please give the names OF the differ
cnt notes and the difference between
them. Also which are payable In gold.
which in silver and which In current
coin.
4. Is there any money in the United
States legal tender to q limited amount
only? L. II. a.
l. The government keeps gold and sill
Yer at n parity by paying all OF Its coin
obligations In gold when gold Is de-
manded and silver when silver Is de-
manded; by receiving silver dollars for
all the debts and dues accruing to the
government and by limiting the amount
of silver dollars coined.
.. The treasury does not pay. out gold
for silver dollars or silver certificates.
3. United States notes or greenbacks.
gold certificates, silver certificates, and
treasury notes. The United States notes
are promises to pay so much money,
the amount being stated in each note.
Gold certificates certify that so much
gold coin. the amount being stated In
the certificate. has been deposited In
the treasury, where 1t Is held for the
redemption OF The certificate. Silver
certificates In like manner certify hat
so many silver dollars. the amount be-
ing stated In the certificate. have been
deposited In the treasury. where they
are held for the redemption of the GER
tiicate. None OF this gold or silver can
be paid out as long as certificates call
Ing for 1t are outstanding. To q the
metal out while the certificates calling
for 1t are outstanding would be an act
OF fraud. Treasury notes were issued
by the government In payment for sill
yer bullion bought under The Sherman
act of July II, 1890. the purchasing
clause of that act being repealed in
1898. There is for each OF them issued
silver. either coined into dollars or of
bullion sufficient to coin the number OF
dollars the note calls for, kept in the
treasury as n redemption fund for these
notes. These paper representatives OF
money are redeemablc as follows:
United States notes gro redeemablc in
coin; that Is, either gold or silver, when
presented In sums not less than fifty
dollars. Treasury notes nro redeemablc
In coin when presented IN sums OF not
less than fifty dollars. Gold certificates
call for gold and are e~xchangeable for
gold. Silver certificates call for silver
and are eXchangeablc for silver only.
AS stated, the coin obligations of the
government are redeemed in gold when
gold is demanded and silver when silver
is demanded. For the government to
refuse to pay gold when It was de-
mandcd by the creditor of the govern
ment for coin obligation would be
to discredit silver. Such action. per-
sisted in for even a brief period. would
reduce this country tn a silver basis
with all It's train of evils.
4. What are called the subsidiary
coins. tho silver half-dollars. quarter
dollars. and dimes. are legal tender to
the amount Of ten dollars. The minor
coins, the nickel five-cent piece and the
bronze cent, arc legal tender to the
amount of twenty-five cents.