Madison times., 1885-12-12

when corruption of all kinds flour
Ished like a green bay tree IN that
citv, bill was prepared, ana Oy
trick and device passed, III July,
1873. demonetizing silver and en-
acting the clause which proclalms
that "the gold coins of the United
States shall be 81 piece, which, at
the standard weight OF Zo.o grains,
shall be the unit of value"
Having accomplished so much
the coinage of the trade dollar was
authorized and made subsidiary
coin and legal tender to the amount
of 50. After having coined Sl1,-
AIS. 400 trade dollars and paid them
ont at their full face value, 1t was
proclaimed in July of 1876 by act
of Congress that the trade dollar
shall no longer be legal tender to
anv amount whatever, crownlng
that unwarranted dishonest pro-
ceeding by coming and passing IN
1877 a further amount OF So, loZ 9Uo
in trade dollars and in 1878 adding
to it S11, ,37S, 100 in trade
dollars coinage of S33,-
959 .3GO in trade dollars, which by !
act of Congress were repudiaLed In
toto. -.
That the price of silver bullion
fell in 1876 to the lowest point
known in 5000 years need surprise
nobody. Our English cousins, who
actively aided with money these
disreputable transactions, were not
slow to take advantage of the stu
alton. Their commerce with India
fiourished in proportion the Amer
| lean one suffered.
Having thus obtained a crushing
power over American silver. Eng
land increased her coinage of silver
ripe,s for India, where by act OF
Parliament, she established the
silver standard and demonetized
gold. That famous law, Act No. /,
section 6, e12, reads: In India no
gold coin shall be legal tender IN
pavment or on account. IL. The
silver rupee ard half III. es shall
be a legal tender in payment or ac-
count. Prior to the characterization
of the trade dollar in 1873 she
coined for India only %, SOP, lo0
rupees, while in 1876 Immediately
after the infamy of repudiating the
trade dollar and the consequent
decline in silver bullion she in
creased in that year her coinage to
62, ,220 rupees, and the year
, following, 1877, to 161 sos. 260 ru-
pees, purchasing silver bullion,
mostly at thirty eight to forty cents
per rupee, and passing it as full
r legal tender to the amount OF forty
eight cents of our money per rupee
in India.
To-day the British importers OF
cotton, rice and sugar from India,
, owing to the low price of silver
receive for each $1,000 instead o
! 10000 rupees, bill of exchange OF
q India for Is, ,333 1-3 rupees, pur'
= chasing in India one-third moro
f cotton for the same English none,
: tna6i tnna6li they would otherwise have
/, been able to do. A competition
. not based on either honesty or lie
gitimate means.
q When the cotton crop OF 1885,
became known to be 6, SOC, 600 bale
the price of silver bullion wa
r hammered down in England from
n sod to AID per ounce standard
y 925 fine. The corresponding ex
change on India enabled the Brit
h ish importer to sell India cotto
n Just one-half of one cent per poun
= less, and American producer ha
:. to meet the unfair tricky compe
% tition by reducing the price of hi
cotton one-half of one cent pc
10 pound, making loss on our Gro
, of 100000 pounds of cotton
i SIS 100000, and that all to foste
10 British interests and Indian indu:
n tries.
Great Britain has spent ovt
IN ESQ, ZOO, 900, equal to nearly s400
n 600 900, in fostering Indian raj
70 ways. On that sum she expect
at interest; and in the future the pri'
% cipal. To help her to obtain bot
,g to the fullest extent, we have onl
ii to allow her to depress the silv'
interests of this country and pro
Id perity is hers.
- American wheat has been graz
beI ually decreasedin in demand in Gre
Britain. Indian wheat takes /
~ place more and more every da
II In 1876, when we demonetized Il
er trade dollar, the first experime
or was made in England to impo
NJ Indian wheat, and in 1S76-1S
100000 bushels of Indian whe
" were imported, gradually increa
iii ing to 100000 bushels, again
, a 100000 bushels, TRIPPING tn
cir amount the next year, and so o
IT. till this year so far already 80, ,0O'
Il 600 bushels of Indian wheat ha
I.o been imported from India to Gre
nj Britain and the continent of L
rope.
u On Oct. 10 last cablegram frc
I'D Indig appeared in all our morni
;Iv dailies. Its contents was:
;r CALCUTTA, Oct. 15.-The fall
\