Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1896-01-11
MO COMPROMISE.
There should Bo No Dishonest Juggling
with Silver.

with silver.
The silver influences in congress are
reported to be in favor of issuing bond
to be redeemed in silver. They also
want the treasury to redeem the green
backs in silver and then reissue them.
The law now allows anybody to get
silver for greenbacks who prefers silver
to gold. Why do not these silver devo-
tees avail of the law? Why do not they
present their greenbacks at the treas
ury and ask for silver in exchange? In
order to accommodate those who were
represented as anxious to get silver in
place of gold, the Sherman act of July
IL, 1890, provided the notes issued under
that act also might be redeemed in sill
yer at the option of the secretary of the
treasury; but, under the general law
requiring the treasury to maintain par
as to all obligations of the government,
30 person has thus far been asked to
take silver when the demand was for
gold. Why do not the silver devotees
practice what they preach? Why have
they not asked for silver in place of
greenbacks?
In order to provide silver with which
to show that the treasury was ready
and willing to equalize, If it could, gold
and silver, in favor especially of silver,
the Sherman act directed the secretary
to buy monthly 100000 ounces of that
metal. But the silver propaganda never
has done anything to carry out its part
of the implied contract. No silver has
been sought as redemption" for either
greenbacks or other notes payable in
"coin." On the other hand, congress
having provided no special gold fund to
meet the silver treasury notes, the gold
reserve was invaded and depleted by
these to the tune of more than SCI, 7,O00,-
CU0 up to June 30, 1894. Although it is
claimed that the country needs more
silver dollars in circulation and Presi-
dent Cleveland himself favors increase
of subsidiary silver, against n total
coinage of silver dollars amounting to
more than 427,00o,OO0, not more than
| from $5O,000,000 to S60,000,000 are out
side the treasury, 1t is estimated that
it would take more than five years to
coin all the silver bullion now in the
treasury. Can there be any possible
excuse for legislation looking either to
forcing silver into currency when trade
refuses to take it or to buying more
silver on the plea that it can be forced :?
Notwithstanding that the govern
ment has done everything the silver in
terest has asked it to do to keep the two
metals at par as money, the failure is
monumental. 1t cannot be denied. So
! long as the inferior metal or it's repre-
I sentative paper can command gold at
the treasury it is going to take gold
out. If we cannot force silver out
against gold now, how is the treasury
to dispose at par or above it of new OBJ
legations payable in silver?
The proposal is as absurd as it is dis
honest. The United States has never
dishonored itself III robbing it's cred
itors. There must be no Juggling now
with the currency tainted with dis
honesty. If the silver people want sill.
yer out of the treasury, there is plenty
there to take out. No more should be
procured to put in. Any bonds or other
promises to pay emanating from the
treasury must be paid in standard
money of the world and there is no mar
ket for any other kind of promises.
There must be no compromise with
dishonor.-Chicago Times-Herald.