Walker Lake bulletin. (Hawthorne, Nev.) 1883-1926, 1902-02-14
sARTiNE ON THE HILL BILL
AMasteriy Expose OF an infamops
Measurs.

mSA5u1Ss
WASHINGTON, Feb. 7, 1902.
EDIToR RENO JOURNAL
In my former letter I made some gem
eral reference to the inconsistency OF
those who broke away from the Repub-
Ecap party upon the silver question In
returning to that party upon the theory
that the issue Ii dead one. It may not
be untimely for me TO advert to the
matter little more specifically, for the
reporting Of the Hill bill to the House,
shows that while some Of our former
silver champions may be willing to
consider the question as settled, the ex-
treme gold men are not, and never will
be, until the last legal tender silver
dollar IL eliminated from our monetary
system. The Hill bill provides that the
silver bullion now in the Treasury and
standard dollars already coined, 30 far
% they may be necessary, shall be
coined into subsidiary ooins-that Is to
gay, into half-dollars and smaller pieces,
the legal tender of which Is limited to
ave dollars. The bill also makes the
standard silver dollars redeemable In
gold.
TO DESTROY THE STANDARD DOLLARS.
The avowed object Of the measure. a.
stated by Mr.. Hill himself, Is ultimately
to get entirely rid Of the silver dollars
now existing, and to prevent any more
from ever being coined. The gold men
are looking anxiously forward to the
time when the food tide Of prosperity
may become an ebb tide, and the money
question again become pressing and
urgent, They know that under such
conditions the presence Of 600, 600, 900
silver dollars In our monetary system
would naturally suggest the propriety
of coming more Of them; but, II we
have no silver coinage except our small
change, they feel that the position of
the silver mon would be greatly weak
eped, and that the argument could be
piausibiy made that there would be no
more propriety in coming full tender
money out of silver than to make 1t Of
some other substance.
Furthermore, as Mr.. Shafroth init
aatss In his admirable report against
the bill, the fact that the silver dollars
were redeemable In gold, would itself
DO used ~ an argument against their
retention. 1t requires no more gold to
Fedesm . paper dollar than it does
silver one, and the silver dollars sold
as bullion, even at q greatly reduced
price, would buy paper enough for cur
renoy purposes ito last the country for
ages. But 1t Is useless to discuss this
point. The purpose of the bill Is to give
che finishing stroke to silver as a money
metal. and such purpose is frankly ad-
united by Mr.. Hill, So it is by the
Eastern gold standard Press, the only
objection urged to it in that quarter DO,
ing that the bill will not wipe out these
dollars quickly enough.
~ o,.As.. IMPORT.
This IL a matter of grave import 10
the people of Nevada. who still have
silver interests which iced protection.
Even If none Of tho silver dollars were
actually sold as bullion (Which many
OF them doubtless would be- the enact
ment of the Hill bill ia.o law would
p,ean that the United States yould not
buy another ounoo OF 81 yer for subsi
diary coinage during the next half ceg,
tury. Tho market for the silver miners
prodpct would DO limited just to that
extent, and that the price Of the metal
would be depressed, even below the
present miners figures. is 10 evident thai
It goes without saying.
Nor need we stop here. If even one
fourth Of the silver dollars should be
melted down and sold as bullion, it
would practically destroy the silver
market. for a considerable time, at
least. But Saving that contingency out
81 view. there can be no question that
the example of the United States would
pc contagious, leading to similar action
in other countries, and the drop in sill.
ver might easily be SUCH as to close
every American silver mine, except
those in which the metal Is only by
ProdcGt.
AN INsESsA2E POLICY:
The demonstration Of silver was the
most insensate and cruel legislative act
shat ever took place in the United States.
1t was u body blow ut our national pros.
pcrity. Every line Of productive indus
try felt it. and for years we were liter
pily wallowing in the slough Of despond.
That we have finally struggled out Of it
and measurably adjusted ourselves to
the gold standard, is owing partly to
our vsst resources, but mainly to the
great gold discoveries in South Africa,
the Klondike, Cripple Greek. and other
places. BY the providence Of God we
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