Wichita eagle., 1889-10-01
THE SILVER QUESTION.
To the Editor of the Eagle.

40 ING Eoltor OF the Ea@tc.
At the recent convention OF the Amer
lean Bankers association a very able
paper was read by William T. st. John,
of the Mercantile National bank OF New
York
l think it the best solution OF the silver
problem that has yet been offered. After
the paper had been before the conven-
ton for twenty-four hours, it was re-
ported back by the executive council
with the recommendation that it be re-
ferred to the incoming executive coun-
Gil This would have deferred action
upon the measure until the next con-
ventlon, one year hence. An amend
ment was offered by Mr.. Sneed, OF Ken
lucky, to consider the paper immediately.
Upon this amendment lively debate
sprung up. The remarks OF every gen.
tleman who participated In the discus
sion were reported in fullsand printed IN
the Kansas City Times except my own,
which received the following mention:
''Mr. Lewis. of Kansas, wanted the res
olution acted upon and acted upon at
once. If the question could not be acted
upon by the convention after Mr.. st.
Johns able letter then the association
had better dissolve. Kansas produced
$4,000, 600 bushels of wheat this year and
wanted some money for 1t.
Now, | am not anxious to get into
print on this question, personally, but
being on the floor of the convention as
the representative of the Wichita Clear
ing House association l deem 1t but
simple Justice to them that the very
slight and contemptuous notice of the
Times should be supplemented with the
argument | then and there made. said
| was opposed to the postponement OF
the question for one year because L
thought it of vital interest, especially to
all the wheat and cotton growing states,
that the next congress should act upon
this matter | cited the fact that British
dealers in wheat and cotton, under pres
ent state of affairs, came to America and
purchased in our markets an amount OF
silver bullion represented by our silver
dollar for 20 cents. This they transported
to India, where free coinage Of silver
exists and where the bi-metalic standard
is also prevalent, the ratio beng fifteen
and one-half Of silver to one OF gold,
whereas. with us, it is sixteen OF silver
to one of gold. This bullion is coined
into the legal tender India rupee. The
rupee is invested in India wheat and cot
ton, and upon precisely the same basis as
if purchased with gold. Thus profit of
30 per cent. is made upon our silver bull
lion and further profit of 3 per cent. on
the lesser degree Of tinenesS or weight.
This wheat and cotton is shipped to
British markets where it completes with
the same articles exported from Amer
lea. Thus the American product OF
wheat and cotton must not only come III
direct competition, upon their exports,
with the the pauper labor of India-bad
enough heaven knows-but they must
be at a further disadvantage OF SO per
cent, representing British profits on our
silver bullion transported to India, coined
and used in the purchase of these staples.
Thus one great American industry
the production of silver = under the
shrewd manipulation of John Bull, with
his tyrannical control of the stupid and
ignorant Hindoo, is made to throttle the
other great American industries of
wheat and cotton raising. We put
silver knife in British hands to cut the
Kansas farmers throat. Advance the
price of silver 30 per cent by providing
lOT large luC1tdoc VI SOHltieS} uiioCi
the perfect regulation and control sug-
gested by Mr.. st. John, to-wit: The re
tirement of an equal amount of our I'M
secured greenbacks, and instead OF being
obliged to export millions of gold to
meet our foreign bills we shall be able to
export wheat and cotton enough to
larely exceed our importations.
Kansas has 81. 000 900 bushels of wheat
to market. and she don't want TO wait an
other year for the further consideration
OF this vital question.
The above are substantially the points
l made, and leave it to the good bust
ness Judgment of Kansas people to say
whether there is anything in them or
not. After an hours discussion, the fol-
lowing resolution, offered by Mr.. Gilbert,
of Michigan, as compromise, was
adopted:
Resolved, That the communication of
Mr.. St John be referred to the incoming
executive council, with request that a
report be made before the meeting of
congress. if possible, and distributed
without delay to all the members OF this
association. with a request that each
member will promptly report in writing
to the secretary his Views on the report
and the questions considered.
II. W. LEWIS.