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Show ANTI-S1LYER NONSENSE. An Absurd Proposition Ably An-' An-' .,. swered. - The following specimen of the nonsense talked by anti-silver men is from the Boston Bos-ton Journal: "Suppose that there should be such a demand upon our gold that it would command a premium of one-half of one per cent. ' It would no longer be money, but would be dealt in as merchandise. mer-chandise. Then our silver would be the only money of the country, and more than two-thirds of our present money stock would become merchandise, and the volume vol-ume of money would be contracted.. to one-third the present amount." - -,; . . The absurdity of this proposition, says the New York Sun, becomes apparent as soon as it is considered that gold forms but a very small part of the actual circulating circu-lating medium in" the country. ' The. money in use consists of $346,000,000 of legal tenders, $300,000,000 of national bank notes, $95,000 of silver certificates and $40,000,000 of legal tender silver. There is besides an indefinite amount of fractional coin, making a total of not less than $800,000,000. The demonetization of gold and its withdrawal from circula-tien circula-tien would have no effect upon this mass of money, and consequently could not possibly cause a contraction. Besides, gold will not command a premium until an amount of silver equal to it is ready to take its place, which at the present rate of coinage, will not be for ten years to come. II |