The midland journal. (Rising Sun, Md.) 1885-1947, 1889-10-25
$500 YEAR, IN ADVANCE.
Friday, Oct. 25, 1889.
Silver.

"Silver. coinage" it says "has not
been suspended; but our silver dollar
is so debased that it will not pass
current in other countries, except
our trade-dollars 1t is scandal
thai the United States coins money
tnat may be so successfully counter
feited that citizens are shy OF 1t.
The statement is made in the
circular that:
Silver being worth more in India than as bull
lion in England. it is imported into India Tor the
purpose of employing laborers in bullng railways
and in opening up wheat and cotton fields SO tha'
India is not only destined to drive US out OF Euro
pean markets, but it is claimed, can at this time
place wheat in New York, and even Chlcago
cheaper than we can raise it,.
"India does not import silver from
the United States, except our trade
dollars, which, unlike the silver dol
lars in use by our people are stand
ard; nor is it true that India com
petes with the United States in wheat
exports. Perhaps they may when
less trash is sent out and the quality
can compare with our No. l and No
2 hard.'
This is fearful rambling for 9
Learned doctor" proposing to en-
tighten his readers on this subject
"1ndia,' properly speaking, "does
not import silver from the United
States" but England does export
silver to India, after having paid
about 80 per cent less for the silver
bullion in this country than she sells
it for in India. Silver coin is the
money of India. Gold is money of
Great Britain. By purchasing our
silver as bullion and exchanging it
as coin in India, the English mer-
chant can lay India wheat down in
Liverpool 25 to so per cent cheaper
than could otherwise be done, if our
silver bullion was the same price as
our silver dollars. Our silver dollars
for which the farmer sells his wheat
will purchase as much wheat as gold
dollars, but the same quantity of sill
yer bullion will not purchase as
much by the difference between the
price of silver bullion and gold coin
in the London market. The English
shipper of India wheat pays for it in
London Council bills. The Amer
lean silver dollar and the India RI bee
are worth about 80 per cent less than
gold in London, the same as silver
bullion is here.
The trade dollar is not shipped TO
India. or any where else. 1t was
coined for China trade and not for
India aud contains FIVE or six grains
more of silver than our standard
dollar but will not purchase as
much wheat in this country as the
standard dollar. And this anomaly
was all brought about by the English
and Wall street gold ring who quiet
ly succeeded in having silver de-
monetlzed in the U. S. in 1873
Since that act was perpetrated in the
interest of the English and other
dealers in National debt, the silver
and greenback party in 1878 forced
Congress to a partial reconciliation
of silver by haylng law enacted re-
curing the Secretary of the Treas
ury to purchase in the open market
and coin into silver dollars, not less
than two or more than four millions
per month. But little more than the
minimum quantity has been pur-
chased at the London market price
and coined, while the Treasury and
gold ring have placed every obstacle
in the way of the ''cartwheels, Pas the
silver dollars were derisively called
getting into circulation, and Cong
ress has again and again been i'm
portuned to stop the coinage of sill
yer dollars. AS a matter of fact the
silver advocates do not wish the
coinage of silver dollars in excess OF
the demand for their circulation, but
they demand that the government of
the U. S. receive all the silver and
gold bullion too, that is offered and
issue certificates to the holders of the
metal. When our government re.
ceives all silver offered and issues
certificates to the holders at its coin
value, the profitable trade which the
English have kept up with India by
bearing the price of silver bullion in
the London market will stop. The
wheat market of Liverpool will not
be kept down by our silver, the pre-
MUM will fall on U. S. Bonds and
American grain will command high
er prices in Europe, the National
Banks will go out of existence and
silver and gold certificates with sill,
yer and gold coin will constitute the
money of the United States.