The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1896-08-01
THIS is CONCLUSIVE
sILYER CAN NOT POSSIBLY RE
CONVERTED INTO GOLD.
ActInE Secretary Curtis Says SILVER
Dollar. Are Not RedeemRble
In Anything.


Spokane Wash, July ~
There Is a widespread erroneous i'm
preston that in some way the govern
mene stands back of the silver dollar
with a gold dollar. This error has been
reiterated over and again. and many
friends OF silver, without pausing 10 in
quire into 1t, have accepted 1t as a fact.
1t has formed the keystone OF the gold
standard argument against further coin
age OF silver dollars. The silver dollar
is worth a gold dollar" they say. be
cause the government will exchange a
gold dollar for II. Withdraw this sup
port. and the silver dollars now in circu'
iation will instantly fall TO IS cents"
In meeting this false argument, The
Spokesman-Review has repeatedly de-
clared the fact that there are about 40
10000 silver dollars in circulation, either
as coin or in the form of silver cerJih-
oates, which remain al parity withou;
the bolstering support directly or indi-
rectly. OF single gold dollar.
In the following communication l.. \.
Inkster OF Davenport takes issue with
the assertion that silver dollars are not
convertible into gold at the treasury:
Davenport. wash, July &-To the Edi-
tor OF The Spokesman Review: In an ed
itOrial you make the positive statement,
in reply TO a correspondent, that the
government does NOT stand back OF them
(the silver dollars with a single gold dol
lar" and that there is absolutely moth
ing back of them but the silver they rep
resent and the legal tender stamp OF the
government"
This IS a mere quibble and IS not an
honest and fair answer 10 the cOrreSplnd-
ert. but is very misleading. Silver dollars
ard silver certificates are not themselves
directly convertible into gold. II is rue.
hut FhaN- y TN- ~
and greenbacks, and these are convertible
into gold, which is constantly being done.
and which amounts 10 the same thing as
exchanging silver for gold directly II Is
by this operation that our silver dollars
are kept at par with gold, and not be-
cause Of the government stamp they bear.
Let the government declare that IL VIII
no longer attempt to keep its money at
par by making its coin and paper eN-
ehangeable with each other. and the hold
Srs OF silver and paper will quickly learn
the meaning Of deprecated currency.
A READER.
Mr.. Inkster is entirely mistaken. The
government does not exchange treasury
notes nor greenbacks for silver. The
Spokesman-Revtew knew this as a fact.
but 10 convince even the most Skeptical
ii requested Congressman s. c. Hyde to
telegraph to the secretary OF the treas
ury. In compliance with this request. Mr..
Hyde sent the following telegram:
Spokane, Wash, July &.-Hon. J. G.
Carlisle, Washington, D. c.; VIII the
treasury exchange treasury and United
States notes (greenoacks} FOR standard
silver dollars. Kindly answer by wire
5. C. HYDE.
NJ. c. State of Washington.
Mr.. Carlisle is away from the capital
but the following clear and conclusive
answer was received yesterday from the
acting secretary OF the treasury:
Washington. D. c., July G9.-HOn. :. e
Hyde, Spokane Wash: Standard silver
dollars are not exchangeable for United
States notes (greenbacks) nor treasury
notes. They may be deposited and silver
certificates taken out therefore. They
are not redeemable in anything.
w E. CURTIS.
Acting Secretary.
II additional evidence were needed. il
would be supplied in the following state
ment by Secretary Carlisle in answer &c
an inquiry made by Senator Daniel Of
Virginia:
Treasury Department. Office Of the Sec.
lsS4-Sir: have the honor to acknowl-
edge the receipt Of your letter OF the 18th
inst, and to inform you. in reply 20
first, second and third questions therein
contained, that there is 10 statute or
practice OF this department under which
any of the standard silver dollars coined
by this government can be converted into
gold at the treasury. Respectfully yours.
J. G.. CARLISLE, Secretary.
Hon. John W. Daniel, Lynchburg. Va