Los Angeles daily herald., 1889-12-15
Windom,s Report.

Windom,s Report.
When one wades through Secretary
Windom's long dissertation on silver it
il difficult to restrain the natural indig-
nation that it awakens. He has the
audacity to assert that the demonetiza-
ton of 1873 had little or no effect in
causing decline in silver; he opposes
every reasonable scheme to restore sill
yer to its old place, declaring that as
great and strong as the United States are
they cannot absorb the worlds supply of
silver, revivifies the old chestnut that
free coinage of silver would drive all the
gold away, and still at last declares
that there must be q joint use of
gold and silver in this country. Then
he proposes his pet measure, which
merely q casual reading shows is in
tended for the complete characterization
of silver, and produces figures to show
that under it no combination could
food the country with silver. Some of
these figures are interesting. He gives
the annual product of silver at (coining
value) $l42, 900, 900, which is disposed Of
as follows:
Required by India. ............$ 5000 600
Coinage In Austria and Japan 10000, 600
Subsidiary coinage in Europe,
South America and the Colonies 16 900 900
Annual export to Asia and Africa,
other than used in India. 10 900 900
Annual coinage of Mexican dollars 100000
Used in .eIa. the arts l50oo 0oo 0oo 0oo
Total ........... $142. .ooo, 900
From that showing the Secret ary, in
connection with the fact that there is no
surplus of silver bullion anywhere, says !:
1T is plain that there is no danger that
the silver product of past years will be
poured into our mints unless new steps
be taken for demonetization, and for this
improbable contingency ample safe
guards can be provided"
1t seems to us that in the foregoing the
Secretary gives his case entirely away.
He shows that if, when he became Sec
retary, he had gone on and bought the
$4,000, 600 monthly-the maximum
under the law-there would not have
been enough bullion in the world to have
supplied the worlds needs, and by this
time silver would have been 81. 10 per
ounce. He goes on further to show from
the Mint Directors report that the whole
product OF the mines of the world for last
year was:
S.Ia Sold ;n:.o $1o5 ,994, ,150
Total. ACKNOWLEDGEMENTS. SPAS, ,431 800
At the same time there was coined in
the world in gold $l34, 720, ,639; of silver
$l49, ,737 ,442; total, 1884, ,45S, S,0S1; or, in
other words, go great was the worlds
need of money that besides what was
consumed in the arts, the world coined
$36.026,7S1 more gold and silver than
the mines produced. Further on he
shows that half the product of our gold
mines was consumed in the arts. Prob
ably the same was true the world over,
which really left all the worlds
product of gold but So, 1897 ,075 to add to
the worlds money stock, which would
not amount to 121a cents apiece for the
people of the nations whose bond
holders insist that anything beside
single gold standard would be ruin.
Secretary Window is sure that to coin
100000 month would result in un-
Epeakable commercial confusion; that
while it might be used at home we could
do nothing with it abroad. To estimate
how petty and contemplate all such
gibberish is, we must put it in another
form of language, as follows: "Our ex-
port and import trade amounts to about
$1,000, 900 600 annually. This is about
four per cent. of our whole trade, but if
we add to the money of the country
$24 600, 900 annually-$2 for each voter
of the republic-we cannot possibly
avoid ruin." The whole studied re-
port is but Shylock's plea. just such
as Wall street pawnbroker would
put forth. The pressure upon the coun-
fpvy tbnv IrpkVt trv fn1I
ferred to except in brief paragraph
pressure. With true goldite perversity
the Secretary calls attention to the steady
fall in the price of silver despite the ef-
forts of the Treasury to extend it's cir
culation, and is as mum as an oyster as
to the fact that gold treated in the same
way would have fallen in like ratio,
that while the Government and
the majority of the banks are doing
their utmost to discredit silver, the
natural and expected result will be a fear
on the part of the people. Still they
have put the whole amount but trifing
5000, 900, in use, and this, too, when
our Government, ignoring the product,
places it in England's power to dictate
at what price she will buy it from day to
day. We believe that the dissertation
was written for Window by some gold
bureau, and that for coin he added
his name to it. and that nobody
knows better than he, that could he
cajole Congress into passing the law
that he wants, he would within year
destroy silver as money utterly. There
never was dirtier treachery to a plat.
form; never more direct betrayal
OF a party and a people; never
a more cold-blooded ignoring of the
needs of a people, of whom nine.tenths
OF the workers are working for nothing.
We hope Congress will appreciate the
business at its real worth, and make its
dispositions accordingly.--[Salt Lake
Tribune Republican,.
OOnsumpslon surely Cured.
To the Editor:-Please inform your readers
that have positive remedy for Consumption.
By Its timely use thousands of hopeless cases
have been permanently cured I shall be glad