The Forrest City times., 1891-12-11
Silver as Currency.

Under the law of July l4, 1s9), the Secretary of the Treasury has purchased since Aug. lS during the fiscal year. 43. S95 ll3 ounces of silver bullion at an average cost of s1.ul5 per oulce The highest price paid during the year was Sl zO25, and the lowest ls6o5 In exchange for this silver bullion there have been issued o. 57l,4ys of the treasury no -es authorized by the net. The ablest advocates of free coinage in the last ongress were most confident in their prediction that the purchase by the Government re ,ufred by the law would at onos bring the price of silver to e1 1929 per ounce. which would make the bullion va of dollar 100 c, nts and hold 1t there. The proph- ecios of the anti-silvtr men of di sters result from the coinage of S2.U0U,OOU per month were not wider om the mark. The friends of free that brought their hopeful predictions to nsught. Some facts are known The exports of silver from London to India during he first nine months of this calendar year fell on the same months of the preceding year. The exports of domestic silver bullion from tbfs country, which had averaged for the last ten years ovar sIl.Uo .ou0 fell in the last fiscal year to Slj,7 ,39l; while, for the first tilue in recent years. the imports of silver into this country ea COG 'ed the exports by the ,um Of Ss1.74o,3 In the previous year the net ex. ports Of silverfrom he United states amount ed 10 Ss54j,455. The production of the Uni ed tta es increased from 5o.o 600 ounces in 1889 to 54.5O.o0 m ls9o. The Government is now buying and putting aside annually 54,00i,00 ' ounces whic6. allowing for 7,l4y. O. ounces of new bullion used in the arts, is o40,00J more than our domestic product available for coin age. hope the depression in the price of sil- yer is temporary and that iurt CT trial of this le islation will more fayorably affect it.
 l an still of the opinion that the free coinage of silver under exist ng conditions wonld disas- trously aHset our business interests at home and sbroa We could not hope to maintain an eonahty iu the purchasing tower Of the gold and silver dollar in our own market and in foreign trade tue stamp gi yes no adaed value to lh built n con aimed in coins. The Iroducers of the country. the farmers and laborers, nave the highest interest that every dollar paper or coin, issued by the goyeruu lt shall be as good as any other. If there is one less valuable than another it's sure aLd cons ant errand wal be to pay them for their toil and for their crops. The money lender will rotect himself by stipuliting tor pay nent tn gold, but the lsborer has sver been able to do that To place business upon a silver basis would mean a sudden and severe contraction of the currency by the wi hdrawai of goli and gold notes, an1 such an unsettlin3 of al values as would pro- duee a financial panic. cannot believe that people so strong and prosperous as ours will
 roInote snch a pollcy.
 believe 1t Is ths ernest desire of great masority of the people, as ig is iuine. that fuil coin use shail Do made of silver just ss soon as the cooperation sf otaer nations cen be cured d a ratio f xed that will give circulation equally to gold and silver Bi-metslism is the desired q. and the true friends of silver will be careful not to overrun the goal and bring in silver monometaism, with it's nece- -sary at- tel dauts, the ss of our gold 10 Europe and the relief of the pressure there for . larger cur rency.