The Utah County Democrat. [volume] (Provo City, Utah) 1898-1909, 1899-08-23

Any person depositing at any mint
or The United States any gold bullion
OF the required oneness can Lave in
payment therefor gold coin Of the Uni.
ted States or demand notes OF the Uni.
ted States payable in coin"
This provision and the next are in.
tended to give to dep,,sitors coin in the
metal deposited, or, II more conveu.
ieut 10 their purposes. a paper ALSO.
luiely duplicating the coin, dollar for
dollar.
That these demand notes shall be
payable in coin, simply without specl-
Tying the metal. is In harmony with
provisions already existing. designed to
enable an honest administrati ton by
discriminating against neither TO keep
the two at parity.
~ EFsiace, under such an option,
|iSE and silver 10 eqnal amount are
~ out on every such obligation pre-
\ ted for payment. How different
Ahe course OF our government under
recent administrati ms.
This FIRST provision and the next
would keep every dollars worth of
bullion presented at the government
| hints In actual circulation as money.
| But there is one point In the second
provislon that requires separate no.
ice.
"Any person depositing Mt any mint
| Of the United States any silver bullion
| d required fineness can have 10 pay
nent therefor, at its market price In
New York city, silver or demand notes
| Of The United States payable in coin"
Why do we say lat us market price
| In New York city?" Are we "gold-
bugsY' Would we discriminate against
the white metal 10 It's damagef
Rather would we leave the gold basis
Untouched, and appear to place silver
on different footing from gold, for no
dher purpose than to take the wind
Out of the sails of the opposition crew,
and accomplish the reconciliation of
silver without that jar to commercial
operations and that confusion OF values
which .timid souls have feared though
poiessed blmeI lists.
For instance, when the law requiring
The purchase by the government of
' four aud a half millions OF ounces OF
silver per month was bel ng executed
There was constant cutlery against
Iee loss the government must thus
lustain.
IL Is not necessary to our purpose to
point out how even this limited de-
mand kept up the price OF silver, but
no point out how, under different law
ihe price may be brought TO par and
hat without loss to the government,
add without forcing an unwilling mar
Net.
Suppose that the government should
begin today to take all the silver pre-
Iented ut its market price, cote. an
mnce, and coin II into money al
9.29, our government (Which we
Ike TO call, in jocuIar yet fond person
icalion, Uncle Sam, instead OF losing,
HEould be putting into his own breech-
s.rOcket Chat IL, The United States
Treasury 60.04 cents on every dollar
eoined.
Are our citizens so much fonder Of
Aaving the government make money or
profit, than of making 1t themselves
hat all the "bears" on Wall street
Nuld keep the price of silver down?
Would not the Wall street speculat-
ns, then, being unable TO corner
Nlver instead OF leaving 1t to the act
bal producers of silver to bring up the
Price OF silver In response TO an unlim-
ted demand, all become "bulls" to
Oss il as rapidly as possible and reap
be benefits.
Y II any uniformed person should
Sey, would there not then be too
fhuch money, would 1t not all depreci-
We In valued" we should simply an
wer, 'poohl" For everybody who
links along these lines understands
hat when interest is low II is because
noney is so dear that poor people and
People OF moderate means cannot use
being unable to give any adequate
ecudty for il on account of the de-
Pressed price of their lands and COM
rOdilies.
No, with all the gold and SILVER Ia
'enand and circulation 'as money
here is yet need OF the currency pro.
SAons which must be left for another
pner