The Weiser signal. [volume] (Weiser, Idaho) 1890-1904, 1896-02-06
Same page:

/ tn. list of coins. In 1878 it was restored
by act of congress and made n full legal
tender IN the payment of all debts The
act also provided that the manufacture of
these dollars might be limited to So 600. 900
per month. Owing to this limitation, and
to the further fact that the treasury de-
partment has exercised a wise discretion,
and has not forced silver into circulation,
we have thus far been able 10 keep in
circulation both gold and silver
The first sentence carries the old
false impression of silver coinage.
By mentioning the dollar alone and
stating nothing in regard to other sill
yer coins, they wish to imply no de
mand for coins of that metal. Prior
to 1873 there were 8,03l,2 98 silver
dollars coined, but the halves, quar-
tiers and other silver coins brought
the total up to SAB, 465, $50. 20, and
since 1873 up to 1898 1929, PA, H.
60 more of silver was coined. Ac-
cording to the book, the silver legis-
lation simply constituted the little
act of suspending the coinage of the
dollar at the mint, and its resumption
in 1878 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 treasury in
not FORCING silver into circulation, we
have THUS FAR been ABLE to keep
them both in circulation.
Page l51:
The gold dollar weighs 25s grains and
contains %. % 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 al
ways the standard and ignoring the
fact that it has only been so for 23
years, and that only because of sur
reptitious legislation, against common
consent.
This accidentally slipped in:
The government makes no charge for
coming. but It requires the owner of the
gold to pay for the copper alloy used in
The coming. 1t will be observed from
this that the value of the gold bullion and
oil the gold coin are tie same. The mints
furnish convenient way for all owners
OF gold to market their wares.
This was put in to show the sta
bility of gold. From the tone of the
surrounding matter, the author would
not have inserted it if he had only
looked ut it from another standpoint.
His treatment of money all through
implies that silver cannot be admit
ted to free coinage at the minis be-
cause the bullion Is not worth as
much rs the coined silver under de-
monetization] and to do so would be
leglslating false value on to it. All
goldbugs take that stand. We cite
the paragraph because it of itself
proves that if such treatment makes
gold bullion of equal value with gold
coin, the same treatment would make
silver bullion of equal value with sill
yer coin. There is no difference.
Page ISL:
The government is to buy enough silver
to make So 900, 900 per month.
That was under the Bland llison
act of 1878 But this book was
published in 1892, and at that time
the Sherman law, which was passed
in 1890 and which required the pur-
chase of 4, 900, 600 ounces, had been
in force two years, hence the state
ment is positively untrue.
How is this:
The government also buys silver TO
make the smaller silver CONS in use for
~''"'oN' iHN ithhNliN DuICDtStN lOr LnlS |
purpose varies with the demands of trade. |
For the last ten years the amount kept in |
circulation has varied from seventy to |
seventy seven million dollars 1t requires
only small purchases each year to keen |
up the amount. The smaller coins con
tain less silver according to their value
than does the silver dollar. When the
silver in the dollar is worth seventy cents.
the silver in two haf-dollars is worth
about sixty-five cents. The government.
by purchasing the silver and coming on
It's own account, secures profit. On the
SILVER dollar, however, the profit is de-
pendent upon the governments maintain
ing the gold standard of values.
Don't let the closing words hit YOU
too hard.
Then this, page 1852;
If silver should be received and coined
in unlimited quantities. as is gold, or if
the dollars should be forced in large
quantities upon an unwilling public the
silver dollar would cease to bear the gold
value and would have simply the value
Of the silver which is in it, If such a
policy should continue gold would cease
To circulate as money. and the silver dol
lar would be the money of account and
the standard of value There could then
be no profit to the government in buvinr
silver and coming dollars; the silver In