Comstock Lode (Nev.) -- Fiction; Miners -- Fiction; Virginia City (Nev.) -- Fiction
"It is not right to pay laboring men in a depreciated currency; it is a
still greater wrong that there is a discount on silver. It is the
steadiest measure of values that mankind has ever found; it is the only
metal that three-fifths of the human race can measure their daily
transactions in; its full adoption by our Government, as a measure of
values and basis of money, would mean prosperity; its rejection during
the past five years and the denying to it its old sovereignty, have
wrought incalculable loss.
"Here on the Comstock it sleeps in the same matrix with gold, the
proportion in bullion being about forty-four per cent. gold to fifty-six
per cent. silver. The Nation cannot make a better adjustment than to
keep that proportion good in her securities. Five years ago silver
commanded a premium over gold. Since then two dollars in gold to one in
silver have been taken from the earth, but silver is at a discount,
because through unwise if not dishonest legislation, its sovereignty as
a measure of values, its recognition as money was taken away. The whole
burden was put upon gold, and the result is that the purchasing power of
gold has been enhanced, and silver is, or seems to be, at a discount.
Those who have accomplished this wrong affect to scorn the proposition
that legislation could restore to silver its old value, ignoring the
fact that the present apparent depreciation is due entirely to
unfriendly legislation, and conveniently forgetting that with silver,
everything else is at a discount when measured by gold. That is, gold is
inflated by the discriminations which have been made in its favor. The
chief use of silver in the world is for a measure of values, as the
chief use of wheat is for material out of which to make bread. Were men
forbidden to make any more bread from wheaten flour and compelled to use
corn meal as a substitute, would the present prices of wheat and corn
remain respectively the same?
Public-domain text, read in full here on John Shaqi.
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