Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1905-09-11
The GOLD DOLLAR
IS IT ANY DIFFERENT FROM The
SILVER DOLLAR.
London Quotes American Eagle as
Bullion. We Quote Mexican Silver
Dollars as Bullion. What will Hap
pen When the American Silver Dol
lar is Taken at its Bullion Value!

ldi ID GhSu dI iIS DutiIoi sdiuS!
Mr.. o. we'll G. Riddle, OF ,Co'umhus.
Ohio. has made an Interesting compa a.
| ton OF Associated Press dispatches re-
latng to money. These dispatches and
Mr.. Riddles letter accompanying them,
should he carefully read by all. Mr..
! Riddle says:
"During the campaign OF 1896 there
was much gllSto in the papers that want
ed binetalism by international a.ree'
ment about "a dollar that is "A dollar the
world over. meaning that our gold
! dollar was wCrth a dollar the world over
and that our silver dollar was not. CT
course, we answered them by showing
that cur metallic money at home is the
creature ol our laws, but away ~from
home it is merely bullion, aud tlIat in
the Bank OF England, the fountain Of
| financial wisdom to the putocrat, even
our gold coins were wei he'd Instead Of
counted. That was true ten years ago.
"Epclosed you will find market quota
! tions OF various dates which | cnt from
the regular daily Associated Press ro
! ports showing how our gold eagles
on the m ,rket in London with tluctu-
ating va ue.
! AT dinner year ago attended ty
! DR.. Reemelin, of Cincinnati, and sever
other members of the old Bimetailc CLUB
at Cincinnati, which was given by my
cousin, Lewis Steutz, at his home here
and at which Mr. Lentz anl myself were
guests, l put the poser to i)r. Reeme II
as to why Oui gold dollars that sare do
lars the world over should be~quoted On
the market in London at nuctnatrg G
values, instcad OF being just doars--or
eagles His answer ve,y naturally was
that the Americans abroad @Wantin2 our
gold money for returning home or ex-
change elsewhere brought this about,
but he would not 60 into the deeper
mystery of our money having abroad
market value different from its stamp
value, coinage value, legal value, or
whatever You choose to call it at home.
IL do not know how to explain ny
ideas about this financial phenomenon If
"a dollar worth dollar the world over
being worth more away from home than
at home, or being fuctuating in value
abroad and rigid at home, even that
sacred gold dollar so dear to the hearts
OF the republican campaign howets in
| 1896. If it We're the silver dollar the
mystery would be discern'ble and easily
solved.
"And here's the rub: III our gold dol
lars are marketable al fuctuatng values
in London, what is to keep our gold
eagles above par, or what is TO prevent
Their going below par at least to the eX
tent of expense for reconage into for
eign coins? An if our silver dollars were
to be put on the market in London what
wonld regulate the price, bullion value
or coinage value? Ii our silver dollars
were to be put on the market in Lond,
at the bullion value what would be the
| in New York?
"Gou Will see quotations ol the money
market in New York as carried by AS
ISOLATED Press reports, that Mexican do.-
lars are quoted there at bullion values.
! What is t. prevent London doing the
same thing 10 our silver dollars? And
once London were to do that would It
not knock into Il cooked hat the sill y
contention OF go!dbu5s that our dollars
are dollars everywhere because predi-
Gated On a god standard. especially when
Our god money Itself is subjected 10
| variation? | sincerely believe that the
British money changers Do not Jug 'e our
/ silver dollars as the MeXlcans are al New
/ \ ork simply to save the New York
money changers fron exposure and
ridicule about our sacred gold standard.
! have wondered, too, why the goldbugs
do not attack the silver dollar in this
/ way-perhaps they may do SO in time,
/ say after they get a bill passed lor re-
coinage oi silver dollars into subsidiary
coins.
II admit all that may be said about
desirabilty OF obtaining our own coins
when abroad for exchange, but believe
that the philosophy Of finance goes deep
er than that. | believe thai if any oi our
coins can be put on the market in for
eign countries and sold above par they
can be sold below par ii any occasion for
financial juggling, such as war or panic,
should arise to give fictitious Cualms,
And if our coins can be sold at specui-
tive values in Europe then is our dollar
not "a dollar that is dollar the world
over, whether it be silver or gold?