The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1923-01-18


ming Geologist and Engineer)
A LTHOUGH silver is too bulk,
~ to be conveniently used as
medium of exchange in yer,
large sums, it is by far tn,
best money the world has, or has eve
had for subsidiary coins to be used
in comparatively small transactions
and to make change. And as silver
has a high intrinsic value and is real
money, it is far easier to maintain on
a par with gold than it is to keep pa
per fiat money on a par with gold
Therefore, as a simple matter OF
sound business. and to have a medium
of exchange. besides gold common
throughout the world, which would
vastly facilitate International COM
merce and exchange and place the
monetary systems of all nations on a
far sounder basis than they now are,
all nations of the world should pro-
coed as rapidly as practicable to adopt
silver for all subsidiary denominations
up to and including one dollar; and
the lowest denomination of paper bill
should be five dollars and all trans
actions under five dollars would al
ways be made in silver Silver coin
should be made legal tender in private
transactions up to $50 and in payment
of taxes and government revenues of
all kinds up to $500.
Silver in Treasury
According to recent United States
treasury statements there are in this
country approximately 415,OOO,OOO
standard silver dollars, of which only
61,OOO 600 are in circulation, and there
are about $S29,OOOOOO silver certif-
Gates and about s1,492,OOO treasury
notes of 1890. "Silver certificates are
secured dollar for dollar by standard
silver dollars held in the treasury for
their redemption" and the number of
silver dollars now held in the United
States treasury in trust against gold
and silver certificates (and treasury
notes) of 1890" is about SSO,50O,OO
There are of one dollar and two dollar
bills of the United States about $685.
500, 900; and the mere fact of these
bills being retired and silver dollars
substituted in their place would make
a great difference in the demand for
silver and the price of silver; and
similar action being taken by all 9TH
er nations. silver would really and
truly come into it's own" to the great
and permanent benefit of all people
and all nations.
Create Demand.
The very existence of these 81 and |
50 bills is nothing more nor less than
an utterly uncalled for. unnecessary |
and inexcusable outrage upon the sill
yer miners in the United States and
throughout the world. AS well might /
the government compel their people to
use some substitute for wheat bread |
and thereby knock the farmers out of
the job of rsising wheat. Who would /
not rather have bright shining dol /
lar in his pocket than an old, dirty |
microbe- infested rag?
Such steps having been taken, the |
natural demand for silver would [
eventually be such that the coinage
ratio-to prevent the profitable melt
ing of coin into bullion-would have |
TO he raised to IL to ! or perhaps, /
even 10 to 1.
Conditions in Europe.
The world war created conditions
such that there is now in the world |
a vast shortage of real money, both |
of gold and silver. The ruinous fnan-
cial colIapses of Germany, Austria
Russia, Italy, China. etc,
are simply and solely due to the lack
of sufficient real money silver and
gold, in those countries. and under
existing monetary world conditions
there is actually not sufficient volume
of gold at $2067 per ounce or silver
at 16 to to Ego around" and supply !
all nations with their requisite quota
of hard money" But with gold coin
ed at about $40 per ounce, as it will be.
and silver at the then ratio of about
y to 1. all nations can be supplied
and they can not be supplied in any I
other way. Nobody in this world has
ever suggested any other way No
body can suggest any other way
There is no other way!
Unprecedented conditions have
grown out of the great world war
such that in the matter of real money
about half the world is bankrupt
having its wealth in other things
practically intact now, but having no
useful or efficient medium Of ex-
change with which to do business!
Real Money of the World.
The great bulk of the real money OF
the world is now held by the United
States and the British empire and 1t
is the plain duty of these two nations