Los Angeles daily herald. [microfilm reel] (Los Angeles [Calif.]) 1884-1890, 1886-04-23

e"e -
both Houses OF Congress have been
defeatad. but they die hard. Mr..
- Ntassacbnsat,a in the he
'so"e' -, - !, A.
ginning oil reeei'' epeo'" :" '"1
House OF Representatives, Ii reported
as saying:
nLet us admit at once that we are bl.
melaliiats ia the sense OF desiring to retain
both goi.d ~ hau cannt1y and that we do not
I n,aoss 1' to demonetize either even il we
stop the coinage OF one OF them. | cannot
undefs.ana Wy sen siivay snanId P pos also
oenose a policy which may demonetlze gold
BY driving 1t out Of circulation, ! am op..
posed 70 .ns e,e G off silver indeSnite and
Minated In time and therefore in amount.
which, unless we check It, viii us surely
expaairiate goid as 'he SUI wiz ''S0 W 'nor
'oT Now Il IA "a plain as the path to a
,a,;sh church. that Mr.. Long had no
r;s,or;cai warrant for thus asserting.
IN affact that The monthly coinage OF
$50, 5o,r million of standard dollars
bv The minis OF the United States,
much less the materially small
amonnt now coined by those mints,
ss'aya, inevitably xpatriate" the gold
,.a now nossess The fact is. his
declaration il the result of an utter
;anoranre If the monetary history of
Ia own epoeb. which las led him to
a.cant biindlv, the unscrupulous bal
dardaah nj the doctrinaires of his
"wo Immediate section. A very few
;odisnutable facts will suffice TO
,lamnnstrote this
In ,ha Grst mace. the total coinage
n, s,andard dollars nm TO the close of
March 1856 has not exceeded s226.
Ioo ODD Assuming that all of them
lava remained in The country. our
,,ao,,Ia have hareIv Al on nor head of
inaln dollars t,ontinuinp 10 coin
,hem AT the same monthly rate IA Mt
uresent. there will have been added
totha aioresaid present stock of Az. 30
,,ar haad INF al cents per head by
10 Lose of March. 1897. with bnt
4ss! cents per head during the fol-
io,y,pg vear and so on until the lat
oI a nriI 1901. when for that wear
tha cninaoe will not have exceed AL
can,a mar eapita of the population.
and the sum total of standard dollars
minted TO that date will not be greater
than seTa oOO Oo0 in the Ijnited
statas which would amount to a per
eaa;,a c;rcnlation of legal tender sil-
var Of Int Ar. 70 at the most
n n, fancy that so small a circula-
t;on 40 Az 70 ner head of the popula
t,on snr'sad over our imperial domain
az araa ri which in SQUARE miles IL
ennal 10 that of all Europe. includ.
;ng somawhat more than half of En-
ronaan Russia would necessarily
sarve IN exnatriate gold from within
onr horders ia sheer chimera that
sha,ld NOT be entertained NV MIR
Long as he will find whensoeyer he
sa,s e. york 10 honestlv read none
sars, L,s,ory
Lor avannla after having Cor
many more than one thousand mil
lion doll lrs between 1871 and 1879.
largaiv in GOLD and silver, as a ransom
for the avacuation oi their territory
ID Erench neonla have recovered
smch a s,oct IF vpld and silver that at
th;a time thev nossess n ner capita
circulation of xoJi, of cold coin with
All of iegaI tender silver fiye-franc
s;acas Snd II at this time we have
5oG loo ooo ofstandarl dollars eoupled
viii lass tbon AZ M ner head Of pold
Sor a nonnlation of more than tiftv-
a;sht millions of souls. the French.
will lass than fbirfu-eion millions of
souls have MAO oo0 Ooi, of silver. and
AZ a lsaal tender valuation coined at
which fha aioix Grains in our standard
Jaliar xonld he worth over I03 cents
Gnstaad IF heing exnatriated from
France yold has gone To that country
steadily ever since ls74-or since the
danraciat;on If silver-laroelv in ex-
cess of exnorts or in tbe aggregate.
for The tan wears ended with 1SsI
NEARLY sS1h oo0 oO0 while mono,
matail;c Graat R,it.in as we can
aas~ra Mr. LONG has oaineI
Cor tho aame nsriod lsss than
Soe ooo 900 Moreover "a MIR
T'ono will find nj tho agcregate GOLD
ca;nsoe Of oil Tho states of 1he com.
marc;sl world for the dacade of 1874