The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1896-10-10
MAINTAINING THE PARITY.
An Important Statement from Secretary
Carlisle.

In u letter TO an inquirer who asks
about the maintenance of silver dollars
now in circulation at parity with gold,
MIR. Carlisle makes the statement that
if it was deemed necessary the secre-
| tary of the treasury would redeem the
silver dollars in gold. No secretary of
| the treasury ever has done so, and we
do not know that any secretary of the
treasury has ever stated before that he
would do so, but the conditions have
not been such heretofore as to call for
any statement upon the subject.
AS is common knowledge, silver dol
lars are not redeemable in gold, yet
while the bullion value in silver dollar
is only about SO cents, still the silver
dollar circulates on parity with the
gold dollar. One reason assigned for
this is that the silver dollars are re-
ceived by the government in payments
to itself. which is form of redemption.
The other reason given is that the gov
eminent has pledged itself TO maintain
the silver dollars which ID has issued at
parity with gold, which, of course,
might mean that the government
would redeem the dollars in gold under
certain contingencies. 1t is on this
pledge that Secretary Carlisle bases the
statement that he would redeem silver
dollars in gold If that policy should be
necessary in order to maintain the pari-
ty. After reciting that these silver dol
lars had been received by the people on
the faith of this pledge made by the gov
eminent, he says:
at is not doubted that whatever can he
lawfully done to maintain equality In the
exchangeable value OF the two metals will
he done whenever II becomes necessary,
and, although silver dollars and silver GER
tificates have not, up to the present time,
been received in exchange for gold. yet, IL
the time shall ever come when the parity
cannot be otherwise maintained, such ex-
changes will be made 1t is the duty of the
secretary of the treasury and all other
public officials to execute In good faith the
policy declared by congress. and whenever
he shall be satisfied that the silver dollar
cannot be kept equal in purchasing power
with the gold dollar. except by receiving
it in exchange for the gold dollar. when
such exchange Is demanded, 1t will be his
duty to adopt that course"
This statement, coming from the sec
rotary of the treasury, is one of great
importance, and must be accepted as
the statement of policy of the treasury
department, at least for this admins
tration. While Mr.. Carlisle declares
that silver dollars should be redeemed
in gold il that policy shall be necessary
in order to preserve the parity, he ex-
presses the belief that the means ut
present employed for maintaining the
parity will be found sufficient il the
present policy is adhered to and the
coinage OF silver kept within reason
able limits.--Chicago Record Qnd).
ryThc popocratic managers have the
gag ready and are only waiting for ali
opportunity to slip it into organs
mouth. Tbs Mckinley managers appear
to be the only ones who are willing tc
let him talk.-Chicago Post.
To Chin Iii III Pun, the bew Corean
minister, the American fee cream came
as discovery and an inspiration. Pun
has il with every meal and sometimes
orders Il "between meals" American
girls would take naturally to Chin