The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1908-11-28

their silver DulilOn iOr apout my cc"eS
an ounce; if they had to pay a just
price, one dollar an ounce, it would cost
them about 100000 a year more
than it does for their coinage, with an
increase with time and the natural in
crease in demands of circulation.
When VIC compare the coinage with
the production of silver outside of this
continent, and especially place the
United States and Mexico in a compare
tive ratio, we can see how vastly the
balance is against us. We are contrib
uting yearly millions of dollars to the
support of foreign governments at the
expense of our citizens. Practically
taking this money out of the pockets of
our people engaged in mining and put
ting it into the treasures of the outside
world.
Locally silver money is held at a par
with gold universally, that is among the
principal nations it has the same internal
purchasing power. Silver has always
been recognized as n of the precious
metals; a standard medium of ex-
change in the worlds money, and al
WAYS will be. Gold ean never be used
as a fractional currency or coin below
the standard unit, and seldom as the
unit or dollar, because of the incon-
vcnienec of size. For this purpose moth
ing will ever take the place of silver.
Our government is making no gold
money under the 21a dollar piece.
The government goes into the market
and buys silver bullion at fifty cents an
ounce of $50 grains and coins 371A
grains into one dollar, makes it a legal
tender giving it a purchasing power of
one hundred cents, the same as gold,
Or practically the government goes to
the silver producer and pays him one
gold dollar for 900 grains of his prod
net, coins it into legal tender money
and sends it back to him demanding
that he pay two dollars and sixty-fve
cents in gold or its equivalent for it.
Or the government can say to him, here
is two dollars and sixty-fve cents
coined out of the bullion | Just bought
of you for one dollar. | want .,4SC
grains of silver bullion, or enough to
make about six dollars and eighty cents
more legal tender money.
l am not finding fault with the legal
tender money, nor the amount of silver
the government puts into the dollar.
1t is all right and as it should be. But
l place the matter in this way, and the
showing is correct, to illustrate the un'
r~easonableness of the present trans
action. In 1907 the government nctted
from it's silver coinage nearly five mil
liops of dollars. This government and
all others can make enough out of coin
age if they pay one dollar an ounce fol-
the bullion, the difference between 4SC
grains in an ounce of silver bullion and
BIN grains in the silver dollar.
The argument that the silver dollar
buys as much in the general market a,
the gold dollar is not applicable, ano
has no weight here.
While silver bullion should bring ont
hundred cents or better an ounce, as
understand it, the producers are ox
tremely reasonable and only ask for al
approach to justice. Is there then any
reason why they should be thus
wronged? 1t would be only right, sim
| pie justice, a matter of universal com
mercial rectitude to place the price OF
silver bullion somewhere near it's in
trinsic value, say 80 or 90 cents al
ounce. Arrangements should be made
with the leading nations to this effect
Although they are getting rich largely
at our expense it seems to me they
would be willing to right this great
wrong.
1t may be said there are other inter
ests to be considered outside of tho
coinage of nations. There are nc Other
interests that can justly be considered
in this relation. Private commercial
ism cannot justly be taken into con
sideration in it's relation to an advanced
price of silver bullion. Silver bullion
any more than gold bullion can not OF
right be placed in the ~f1uctuating scale
and schedule of ordinary commerce. II
can not be considered in its economies
only in its relation to coinage an6
money. Outside of coinage it princi
pallv enters into the arts; and the,
have no practical relation to establish
or fixed values. Money is an estab
lishcd standard of value Independent OF
all else.
While a large amount of gold as vel
as silver is used in the arts no argu
ment is made against the price of GOLD
ON that account. Then what logica'
grounds against an advanced price fol
silvers They stand in the same rela
tion to each other; and in the economics