The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-12-02
BOTH METALS ARE NEEDED


ported the Republican caucus
will present to Congress the more
unsatisfactory it is. Even the Charlotte
Observer the foremost exponent of the
gold standard in this section. objects TO
certain of its provisions. The truth is
that no just. fair or permanent inan-
cial system can be devised which does
not coin both gold and silver and rest
upon both as the moneys of ultimate
redemption One of the best articles
on the money question that has appeared
recently is from the pen of Mr.. I. W.
Carnahan and appears in yesterday $
Charlotte Observer. We quote at length
his wise observations:
.srhose who have observed a silver
dollar of the coinage of 1899 will re-
member words stamped on the rim or
edge in place of the milling which are
about as follows: One hundred cents.
one dollar or unit Despite any ground
less assumption to the. contrary. this
unit. after more than one century.
stands today the basis of all our money.
a fact recognized by the makers of
this caucus bill, when they propose to
substitute therefor 2J.3 grains of stand
ard gold. Under our system the viii
of the people may at any time replace
such metal. definite quantity of which
may be the standard of value, by the
old, by new. or by no metal at all. It
must, therefore, be evident to what I'M
explored and unknown dangers we ex-
pose ourselves in overthrowing one OF
the constituents of our prodigious
achievements throughout the past cen.
fury.
Prom the view points of the metal
lnrgist and statistician there exists no
reason for a preference as standard to
be awarded any of the chemically and
mechanically highly stable metals, nor
can the old bugaboo of so-called Sin
trinsic value be longer urged now
that thoughtful prisons perceive that
nothing has any intrinsic value such
property being ex-trinsic only and high
~ variable With respect to the chem
zeal properties Of gold and silver it is
of course we'll known that the former Is
unsoluble in the unmixed common
acids. 1t is fact, however, that in the
growing science of metallurgy many
additional solvents for gold are becom-
ing known, and that in this respect
both metals are on practically the same
basis. Platinum and other rare metals
are so far as now known more refrac-
tory than either. The comparativley
insignificant supplies Of these sub
stances, however. rule them off as
money metals. while on the other hand
such metals as copper. lead, zinc, iron
or aluminium either form deleterious
compounds by contact with the acids
of the human body, are speedily at
tackled and worn away by the elements
or are produced by recently developed
and partially secret processes only Tin
could not be used owing to its softness,
fusibility and restricted distribution
Silver and gold were originally and are
largely yet won by simple means. the
pan, the shovel, the rocker and the
ratio process. Their naturally formed
chemical combinations are innocuous
and the volume of production satisfac-
tory. On this latter point there was
formerly much expressed concerning
the prolific yield of silver as compared
with gold. but the figures of the past
few years and even months tend to re-
verse an argument based on this as
sumption. Not anywhere is silver ore
so low in value profitably beneficiated
as is even rebellious gold ore by the
cyanide and chlorination methods. Nor
has native silver ever been produced
in such vast boards as today lie be-
fore the gold miner in the Klondike or
mt Cape Nome. The opening OF the
East the PHILIPPINES and China, unless
depressed by the methods adopted in
india will obsorb continually increas-
ing amounts of silver as compared with
gold.
History records but few and fleeing
attempts to replace either as coinage
metals and then under stress only. 1t
therefore seems probable to me that
the vast reservoir of commons sense in
this country will be found opposed to
any legislation aimed at one Of these
time-honored noble metals to the ae-
vantage of the other"