People's Pilot, Volume 3, Number 38, Rensselaer, Jasper County, 16 March 1894 — SILVER CERTIFICATES. [ARTICLE]

SILVER CERTIFICATES.

Coin the Seigniorage and Redeem Them In Silver Hollars. The gold-bugs claim that the entire bullion purchase is a pledge in the treasury for the redemption of treasury notes issued in payment for the bullion, and that coining the seigniorage would be bad faith on the part of the government. The law under which these bullion certificates were issued states that they shall be redeemed in coin. It nowhere provides for their redemption in bullion. If it did, the government could still make money by calling in its certificates and compelling the owners to accept the bullion, which is now worth less than the amount paid for it In other words, it would be cheaper to redeem them in bullion than in gold. If the bullion is a pledge for the certificates no one can ask more than a return of the pledge for the pawn tickets issued. Either the gold-bugs must accept the. full signification of their argument, or they must drop it as illogical

What else can be done with the bullion? There are no other uses to which it can be put except turning it over to the certificate owners or coining it into money. As long as the certificates circulate redeemable in gold on demand, it is folly to talk of the bullion as a pledge except so much as will make as many silver dollars as the face of the treasury notes. The seigniorage is available under every law on our statutes. The only question is as to whether $55,000,030 in silver added to the present supply will affect the government credit. When its bonds sell at a premium it is absurd to talk about trouble from so small an expansion even if the sliver dollar is worth less than the gold dollar, which ia yet to be proved.— Topeka Pres*.

“Angels hasn’t any sport in ’em,” said Willis, as the snow fell softly on the lawns. “If they had, 'stead o’ sendln’ snow down in flakes, they’d make balls of it an’ have some fun.”—Harper’s Bazar.