The silver messenger. (Challis, Idaho) 1890-1912, 1896-02-18

Same page :
In 1873 the silver dollar few OF which had
ever been coined, was omitted from the list of
coins. In 1873 IL was restored by act of Con-
gress and made full legal tender In payment
OF all debts. The act also provided that the
manufacture of these dollars might be limited
tion and to the further fact that the treasury
department has exercised wise discretion. and
has not forced silver into circulation, We have
thus far been able to keep IN circulation both
gold and silver.
The first sentence carries the
old false impression of silver
coinage. BY mentioning the dol
lar alone and stating nothing in
regard 30 other silver coins, they
wish to imply no demand for
coins of that metal. Prior to
1873 there were 8,031, 288 silver
dollars coined, but the halves,
quarters and other silver coins
brought the total up to $143, 465,
1000, and since 1878 up to 1893,
$500, 244, 1890 more of silver
was coined. According to the
book, the silver legislation simp-
ly constituted the little act of
suspending the coinage of the
dollar at the mint, and it's re-
sumption in 1873 restored silver
to the place it occupied before
1873. How far that comes from
the truth, that silver was totally
destroyed Then notice, in the
tail end of the paragraph, how
through the wisdom of the treas
ury in not forcing silver into cir
culation, we have hats far been
able to keep them both in circula-
ton.
Page ISL
The gold dollar weighs 25.s grains and CON
tains %. % grains OF pure gold. This is the
standard of value; the money in terms OF which
prices are set.
Carrying the idea that gold
was always the standard and ig-
noring the fact that it has only
been so for % years, and that
only because of surreptitious
legislation, against common con-
sent.
This accidentally slipped in
The government makes no charge for coin
ing, but 1t requires the owner of the gold to pay
for the copper alloy used In the coming. II will
be observed from this that the value of the
gold bullion and Of the gold coin are the same
The minis furnish a convenient way for all own.
ers OF gold to market their wares.
This was put in to show the
stability of gold. From the tone
of the surrounding matter, the
author would not have inserted
it if he had only looked att from
another standpoint. His treat.
ment of money all through i'm
plies that silver cannot be ad
J mitted to free coinage at the
| minis because the bullion is not
worth as much as the coined sill
, yer under demonetizationl anc
/ to do so would be legislating 9
: false value on to it. All gold
} bugs take that stand. We cite
} the paragraph because it of itsel.
: proves that if such treatment
makes gold bullion of equal val
ne with gold coin, the same treat
ment would make silver bullion
J of equal value with silver coin
There is no difference.
Page ISL
! The government is TO buy enough silver L
make g., 600 900 per month.
That was under the Bland-Al
lison act of 1873. But this bool
was published in 1892, and a
that time the Sherman law, which
was passed in 1890 and which
required the purchase of 1000,
900 ounces, had been in force fol
A years, hence the statement il
. positively untrue.
: How is this
The government also buys silver to make tn,
smaller silver coins in use for change. Tn
quantity purchased for this purpose varie
. with the demands OF trade. For the last tel
: years the amount kept In circulation has varie
! from seventy to seventy five million dollars. l
. requires only small purchases each year :
keep up the amount. The smaller coins con
tain less silver according to their value thai
does the silver dollar Wien the silver in tn
r dollar Is worth 10 cents. the silver in two half
dollars Is worth about IS cents The govern
|. ment, by purchasing the silver and coming o.
its own account, secures profit. On the silve
: dollar, however, the profit is dependent upo
the governments maintaining the gold stand
l ard OF values.
Don't let the closing words hi
you too hard.
Then this, page 152
II silver should be received and coined in un
limited quantities, as is gold, or IL the dollar
should be forced In large quantities upon a
3 unwilling public, the silver dollar would ceas,
hna