St. Landry democrat., 1878-03-02

VI SuC AnIAoA3 Hs VAC ihoenASC VA VAC
creditors, in order to enhance the value
of their bonds Graphic.
SOME BOTTOM FACTS ABOUT SILVER
l. Great Britain-which is7 mono me-
tallic, with gold valuation-during 1877
exported $l01, 100000 in gold, while i'm
porting but s77,c60,O00, thus losing for
1877 the sum of 1924, $40, 900 of her gold.
2. France-which is bi-metallic with
gold and silver co-equal legal tenders for
any amount-during 1877 exported but
about SIT SAG, 900 in gold, while import
ing 500, 100000; that is..to say, France
added $79,0OO,O0O to her stock in gold
during that period.
8. Of the gold exported by mono.me'
tallic England bi-metallic France gained
or imported directly no less than $50, ,000,-
900, while also importing fully as much
as $4,000 900 from Germany, which
that country had received from England
since the 1st of January, 1877.
4. Notwithstanding the balance of
trade as between the United States and
Great Britain has been in our favor dur
ing the last year we have; nevertheless,
exported to England during 1877 no less
than $10;3oo,O0o in gold, or above a
third as much as England imported from
Australia, her present chief source Of
gold.
s. On the 10th of January, 1873, there
was in the bank of France, in coin and
bullion, the sum of 1899, 100000. About
the same time the amount held in coin
and bullion by the bank Of England was
$122,540,0O0; Imperial bank of Ger
many, $115,045,000; National bank of
Austria, $6S, 725, 900; National bank of
Belgium, $19,495; 900; Netherlands
bank, s53,035,O0o, amounting in the ag.
gregate to 1876, $4,000. Excess in favor
of bank of France, $22, 100000. This is
not an exceptional state of affairs. The
bank of France has thus for eighteen
months contained in its vaults much
more specie, chiefly gold, than all the
other National banks of these" chief CON-
mercial European states together.
s. Bi-metallic France, where silver is
an unrestricted legal tender for the pay
ment of all debts, having, as we have
stated, for 1877 imported $4,000, 900 in
gold in excess Of her exports of that
metal-on the other hand, exported to
mono-metallic England as much as $5,-
$4,000 in silver, or about 45 per cent.
more than she imported from the same
country. Further, France, while i'm
porting $15,25O,0O0 in silver-chiefy
from Belgium, Italy and Mexico-ex,
ported nearly 100000.
-. While Germany has exported to
England in the year as much as $6s,-
737, 900 in silver, India absorbed it all,
and more, namely, $71,56S,000; and
China nearly $40, 100000; or, together,
Ss1, $4,000, derived exclusively from
the London markell Mining Record.
HOW SILVER WAS DEMoEETIzED.
Senator Thurman, of Ohio, spoke q
few words in behalf of the silver bill in
reply to Jadge Elmunds' three-hour
Shylock harangue against it, from which
we make this extract:
Senator after senator had declared that
fke act of 1873 demonetized the silver
dollar. 1t did no such thing. The silver
dollar was demonetized by the revised
statutes, but they were not intended to
change any existing law. They we've
simply compilation of the laws as they
existed at the date of the adoption of
the statutes. The silver dollar of 412}
grains was full legal tender for all pur-
poses, and had not been legally demone-
tized. The argument had been made
that silver dollars were not In existence
at the time, and therefore the bondhold-
ers did not expect to be paid in silver.
AS we'll might such an argument be
made against gold, because there was but
little of that coin in use. The coinage
act of 1873 was a step in the direction
of demonetizing silver, but it was not
demonetized until the adoption
of the revised statute in 1874. 1t had
been argued that injustice would be
done to those who purchased bonds since
1874 if the government should pay it's
bonds in silver; but he (Mr. Thu-man)
would endeavor to show, when the bill
itself should come up for consideration,
chat the payment of the bonds in silver
would not do injustice to any one.
The goldites try hard to conceal from
the public the rascality.. prsctised clan
1estinely by the statute revisers in 1874
n sneaking in a section which demone~
lied the old silver dollar Chicago
Tribune.
.."Den you'se on de side OBJ de fab
md birthstone in dis hell discussion 2
{ You'se right, honey! Ef you tink
,ou'se swine ter leebe dis wurld ter play
somewhar, you'se 'rong. Oars