The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1886-01-06
THE DESTiNY OF SILVER
A Practical Solution of the Silver Question in
Relation to Commercial StagnatiOn.
teryiew with Hon. Franklin Landers--An
American Monetary Union Recommended
Treaties with South America-A
Line of Steamers Required.

beginning to be somewhat Interested
in the silver question, a Sentinel re-
porter concluded he would seek information
ON the subject from one of its pioneer stu
dents, and upon reflection concluded that
call upon Hon. Franklin Landers would be
more productive than elsewhere in this
locality, and therefore he proceeded to his
residence. Your reporter clinched the in
terview without ceremony by saying:
Dir. Landers knowing that you was the
mover of the silver question in the Forty
fourth Congress, and that the agitation at
that time led to its reconciliation, and that
you are now a member OF the National BIZ
metallic Committee, take the liberty to call
upon you fer your views in regard to the
propriety of stopping the coinage, and also
for your views of the future of silver.
Mr. Landers-Well, / have my views of
course. as the subject has always been an in
teresting one TO me, and the recent agitation
has led me to think on il somewhat. The
subject has wide bearing, and it would re-
quire considerable time to give complete
answer TO your question.
R-But Mr.. Landers, | would like to ask
your opinion of the question in its bearing
upon the present commercial stagnation.
Mr. Latter thinking little.) We have
arrived at period when the old policy of
protecting our manufacturers and prohibit
ing Others from coming into our market is
no longer useful to the manufacturers them
selves for in many lines they produce more
than our markets can consume
R.-But isn't that rather a social than q
purely financial question?
Dir. L-All these questions are more or
less connected. What is needed now to
start all the spindles and the furnaces is
customers to take from them the surplus
that can not be consumed at home.
R-But how are these customers to be OBJ
tanned?
Mr.. MY opinion is that by judicious
management on the part OF the Govern
ment We could be taken out OF this de-
preston and make our country prosperous
by silver.
R.-But how do you propose to do this
Mr.. l. If the Government Will get uD a
convention of all the States of South Amer
lea, Central America and Mexico, and with
them establish a standard tor their silver
coins, there and here, and made alike legal
tender in all those countries and the United
States, the manufacturer of this country,
when trading in those mentioned, would
then know just what he was getting for his
wares The buyer there would then know
just what he was paying for them
R-Then you would organize an American
bi-monetary union plan like the mono
metallic union of Europe?
Mr. L-YeS, and think il would meet
their Roland with an Oliver Our mauufac-
turer wouio go into that country just as
much ahead OF the British or German man
ufacturer as silver is discounted in England
The silver dollar is worth here Just as much
as the gold dollar, while in England or Ger
many it is worth II to 20 per cent less. The
discODnt is now 10 to 20 per cent, and that
j. enough TO secure market for our manu-
facturerS from all the surplus they can man.
ufacture over the wants of our own people
R.-HOw would this be practically real
lied?
Mr. L.-Business Is carried on in banks
and by drafts. Suppose merchant in one
OF those South American countries should
make bill to a British merchant and the
debt become due; and also make bill to
the merchant in the United States and the
debt become due. He would go TO his
banker, and the inquiry would be, What is
exchange with the United States?' The an
swer would be, if the standard were fixed "a
suggested Just the carrying between that
country and this He would also inquire,
What is the exchange to England" The
banker would figure up the discount on
silver and the carrying besides, and that
would be the answer. He would soon find
nom whence he got his cheapest goods when
81 e. were paid for.
R.-But would such movement be popu-
j T in either country
Mr.. LII think so. Some, no doubt,
, light legal tender of silver, both here and
there; but you must consider that money
goes where il belOngs-where something has
been given for il; and reflect for one moment
ON the vast amount of the products of those
countries that We buy.
R-We buy much more than We sell, do
we not?
Mr.. livery nearly all our coffees are
grown there; our dye stuffs are produced
there: our medicines come from there;
thousand and tens of thousands OF raw hides
are shipped here from there. Compare these
with the very small amount of surplus man
ufactured articles we have to send 10 them,
and ii will be seen the balance of trade with
those countries will be so largely against us
that in a very few years Our mines will not
be able to produce silver enough TO pay that
balance.
R.-Upon what do you base this opinion?
Mr.. LIN proof, see how the balance stands
now Brazil exports to this country over $55,-
100000 year, and the port of Rio alone ex-
ported to the United States last year S2l.-
654. 3044 IS, and imported from us S, DOG, 056
balance against US from that port alone of
$18,446, A6.45.
R.-Then in effect you would add bond
that would connect the Western continent
in q system of commercial exchanges that
would prevent any European monopoly Of
it.
Mr.. L.-Yes. If commercial relations were
properly gotten up with all those countries
and treaties arranged that would only give
us an equal and fair exchange of commodi-
ties with England, their great supplier, with
the advantage of silver that we have. with
abe standard fixed as suggested, there is no
ooubt but what all our idle spindles would
pe started, our furnaces lighted up, our idle
n en- employed, and the silver question, that
is now a frightful one to many persons.
would be effectually settled. If our people
would study how to avail themselves of the
advantages that we possess with silver. as
they study how to get nd of silver, and
abandon all idea of an international stand
ard which would place the countries upon
an equal footing with ourselves upon that
Southern trade, it would be far better for the
country
R.-Then il would be to our advantage il
Europe would not abandon the single stand
ardf
Mr.. L---Certainly. We want no standard
hxed, except with those countries as sug-
gested II is to our interest that European
countries should contrive 10 discount it, be-
cause we have gold in abundance To carry
on trade with them. and if We can pay for
our cO5ees. dye stuffs. medicines and other