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Silver Coinage

Silver Coinage image
Parent Issue
Public Domain
OCR Text

The inipression is becoming quite general tli at the continued rapid coinage of silver dollars, far beyond the demand for them, is thrcateniug the currency system of the country. This makes the subject at once one of Interest both to debtors and creditors as likely to affect their relations. Although the currency questiou is in intrlcate audcomplicated one, itcan readily be seen that the maklng of more silver dollars than the people need, or can use, neccssitates that they be hoarded up. This locks it up as so tnuch dead capital. Tlierehy the national debt is not reduccd, for the gold is continually being needed to ]iuv the owners of silver mines for tlieir buil Ion, si m pi y to relieve them of a surplus. The niaking ol this dead capital lessens our yearly exports by severalmillions and thus depri ves us of niuch gold which Europe otherwise would have to pay us for the excesses of exports over imports. The United States has good soil, good cllmate and large erop?. So it should be very prosperóos. Yet thereisnow a financia! depression, due mainly to the lack of confidence which capital has. This we believe, arises from two causes : lst. The threátening of the protective turifi' to our of our curreucy systeni. But it is of the latter we now write. If the Blaud bilí, which oompels the montlily silver coinage to be from f 2,000,000, to $4,000,000, should be repealed, and an houest silver dollar made in quantities equal simply to the demand, it is very probable that the class of investors would tliercby acquire confidence. They would theii go into building up oíd aud new industries, thereby providing employment to labor and a proper cornpensation there for. Thus the wlieelsof business activlty would move smoother and faster, so that a more sofíú prosperífy would come to us than ever before. GoBfroVj when it nieets this winter, eau not be too quick in removing the ïncubus which blocksthe machinery of National industry, wliicli alone is the permanent soince of wealth for the whole countiy, capitalists and laborers alike.


Ann Arbor Courier
Old News