The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-07-05

volume of the treasury notes. and yet
their parry WIN gold is not maniaiue1
by Their req mptlcn IN COLA. ON the con-
tlary. The s=cr-laiy announces tnat n'illl-
a. AlIVer dolsrs nor siiV..r cert ncaies are
redeemed or redl mab.a II goa pces not
tils show concluslvoy the utter iallacN
OF the claim that Il was necessary to re
deem fh- Sherman notes in sosd IN ord-i
to mainia.h their party
NOlWltiinid,u ne lnr existence OF the
"dndle;s ciIln' IN the SHAPE OF >Sib ooo.ndD
of roissGdblc 6reenbtCks from 1919 untl
1871. tlts nIain was not used to ara"
gold from Tho treasury reserve until short
~ after the adoption OF the policy by
sarrt tary Foster OF redeem,ng the Shcr-
man notes IN gold. so that, without IN
Issuance OF single bond. the gold ~
serve increased steadily from 1919 when
II was $ll9, .jh,G 500. uutil lsao. wnen 81 stood
sl90. ~ ,0,. and II Wa not un,il thc iongln-
on'ns of the chain hv the addition 10 Il
gold speculators began 10 raid tlie ressi,e.
hy h. rs, ot this rh2in, foi chg ne iifNt
bond issue to repiemsh 1t in January, 1877
io'ip H,d ~ otherS lnoreaas ~, 4, TIE PUBIC
hays en- s.kfd what i i That main
tairis the parity win gold OF silver dol
'ais ara silver Cortliiri'as, and have shown
that u was not and could moi have been
The fact hat Sherman notes ar redeemed
in gold Now. what is II, granting that
Inc silver bullion in the silver dollar
would hf worth as n commodity only .,
oents3 My view Va iha, such panty =
maintained because Of. first tho great
demand for CIRCULATING medium. second,
because silver dollars are by law made
n legal tender for all dehis. pubic and
private. and re, eivablc for all puzzle dues,
ard hecaufe silver ceiiiiica'fi are re-
deemahle in such LEGAL tender dollaW
and are themselves receivable for al
public dues These considera Ions give
Them the added value above thr' OF TIM
h,iii on. Tho same ~ the demand foi and
the uses Of any other article adds to H.;
grains OF bullion silver can no NOR slnHe
The money value of S7l'. grains Of a'ivor
contained u, oui pres mt silN a dollar tlaf
could he same number OF grains of hui
lion copper or bullion lond. for mat hui
lion silver can no more. now, +, MADE
mn, dollar than can bullion laah or
bullion copper our silvAr dollars ro'-
form a money function bullion silver can
no mora perform that function IN ~.
hade Of q dollar. for u IS rot permitted
to Re coined bnto dollar. II the silver
dollar should - melted into bullion. y -
~ irretrssyatly lost as, money. as n u
were utterly DESTROYED. fer If can no more
h made into dollar sli ve1'ef WIN
money function Mot 50 with cci1. fnr
having melted a gold dollar into bullor
a cen he again carried To the mint nnd
made into p rev dollar with The full
money function. No wender maj
there should be such disparity between
the commodity yalues of h. So fwo ~ .talf
II tNiri arRlrroni as to ~, cause OF ihr
inanie napcc Of tho pariy between sllN'r
ioilar' ana silNcr ceritiicates ana Epih Pr
not tnai. thon I again inquire VIVA, -
H. ihsa, that mainiains the narllVf
should ypn reply as Is often ropllod ny
gold standard advocates that IS cents
NJ ouf present silver dollar ana ON pre-,
en' silver certificate d,llar Is nat, ana
that the parity is maintained by the stamp
Of the government. viii YOU tell me where