The midland journal. (Rising Sun, Md.) 1885-1947, 1890-01-17

many of the Senators when they voted for
the measure, so Senator Stewart charged i'll
the U. s. Senate in 4 speech delivered in
March 1888, and Senator Sherman failed TO
successfully deny the charge.
"The purchase and coinage" might profit
ably stop, and the exchange ofsilver bullion
for certificates be substituted with immense
advantage to the business of the country.
All the Journal Of Commerce urges against
the coinage of silver applies to gold. There
are 80 millions of gold coin and bullion
lying idle in the treasury now, and has
! been there for years. Nobody wants ii, more
than the silver dollars. The gold is worth
no more in the business of this country than
the silver dollars or notes. In fact the
Treasury ought TO 90 out Of the market,
cease the purchase and coinage" Of gold as
we'll as silver if this doctrine of the Journal
of Commerce is sound as TO silver. Gold
only maintains its present value in the mar
kets of the world because the nations of
LuIoI'e anu AueiiCa III aSiee tuht ~ ShaiA
pass for so much. Let the United States
declare that silver bullion is worth as much
at our minis as gold and il will be.
We contend that the United States has it
in its power to place silver on an equality
with gold in the markets Of the world in
one month. As soon as free mintage law
for silver went into force the silver current
would set in from South America and Mex
leo toward the United States, and silver
would be exchanged for goods and products
Of this country. England could not sell her
goods in those countries against such a COM
petition as the United States offered, with
out at once advancing the price of silver in
the London market. The English silver
bears would be compelled 10 pay as much
for silver as the United States or lose the
Mexican and South American markets for
their goods. That is plain. In addition to
this Europe has not enough silver for use in
the arts if the American supply were stop
ped, and this carse would enhance the value
Of the metal in commerce.
The story of Germany having so millions
of silver ready to dump on the market is
evidently myth. And if it were true what
signifies eighty millions. Our National
Banks drew nearly half that amount Of
money from the circulation last year.
Our point is that silver is equal for mon
ey purposes, with gold, and the govern
ment of the United States has it in its power
to place the two metals on par with each
other whenever it sends forth the fiat. And
the moment England finds herself unable 70
buy our silver for - cent for what in this
country is worth 100 cents she must cease
purchasing wheat and cotton in India at 80
per cent less than the gold price in London.
She cannot then pay Sill in India per
bushel for wheat and sell it for 95 cents in
London as she does now, and by these
means establish market for American
farm products in Liverpool which reacts on
the price in the United States. But it has
been demonstrated clearly by writers and
speakers of acknowledged authority on the
question that there is not only no plobabil-
ity, much less possibility, that with silver
at par with our present dollar that the gov
eminent would recelye so millions a year
much less all the output of the mines. Mr..
ST. Johns estimate when the wants ofthe
world were supplied that less that mil.
lions month would be left for the U. S.
Treasury.