The sun. [volume] (New York [N.Y.]) 1833-1916, 1891-09-17
FREE SILVER COINAGE.
senator Sherman's Attitude Considered by
MIR. Moreton frewen.

To Tpr EDITOR OF THE SyN-Sr: There arc
few living Americans to,whose public utter
nnces tho Same weight attaches across the
water as 10 taUee of Senator Sherman. Tho
Ohio Senator has como 20 be regarded by us In
England as the bell wethcr OF the largo eau
tious. and very superior flock OF those who
have li,tle TO gain from change OF any kind
ana much to lose Such leader OF such a
flock is little likely either to be dumb teIore
its shcarers or to be careless in bringing his
briof we'll IN to date aud contemporary critl-
cism. This being tn 9 case. II 10 worth while TO
ask how 1t happens that Senator Sherman's
Judgment upon the silver question seems 20
have crystallized these years past. so that his
speeches and prophecies Of to-day read only
40 a vain repetition OF those speeches and
those prophecies which the event OF tho past
ten years has 30 signally fnlsilled.
or TWO historic letters know not which Is
the more interesting reading to-day, Lord
Iiverpool's letter to the King or Mr. John
Sherman's letter to Mr.. samuel RuGgies.
But there are certain objections to free coin.
ace. which. laid down by Senator Sherman in
any Of his speeches during the past few years,
have become stnRe properties OF the opponents
OF silver In this country: to ono or two OF these
you will perhaps allow me to reply rs briefly
IS possible
Formerly the objections to free coinage at
to lG was this-that Europe would melt up
her silver stocks and send them here to be
exchanged for gold" Europe" is n geo.
graphical eXpres sion. and ono sufficiently
wide whom the desire Is to befos the issue:
but when we pointed out that silver at the
European ratio OF to l5'i was worth. plus
freight and insurance. nearly four per cent.
moro there than it would be when sent here. 1t
came 10 DO admitted by our opponents that
the individual European would not empty his
pockets OF silver to buy your gold. seeing that
he can buy more gold with his fve.franc pieces
in paris than he can in New York. were
a free coinage measure 10 become the
law. Still 1t was said Europe was
to make this country tho dumping
ground" for her silver-the European Stale.
not the individual. Then followed the inquiry,
What State was meant? Was Greece or was
Montenegro going 10 drain America Of her
goldp So. after a careful process OF reluctant
elimination. We generally arrived at the point
that France. surcharged with legal tender
silver. was tho Europe" meant-that France
would be likely to unload her silver out OF the
"swiftest ocean Rreyhounds." &c. To this
the reply seemed sufficient that. at the expira-
tion OF the period Of the Latin Monetary Union
In 1889. France under the terms OF that agree
ment. could have made both Belgium, and
also Italy. SO disliked by Frenchmen, buy back
not less than sixty million dollars worth of
gold at TO l5..-in otnsr words. for 1874 cents
standard ounce; As; however. France did not
would soil to America at l29 cents? For. Just
rs no Government in this country could stand
- Is II Paris s
there also DO followed BY swift rs.ribpion.
tor. really suppose that an act to melt up
French silver coins could pass the French
such Gi And evsn were n possbIe to pnss
With the altitude 2nnes
sssss.s!i'l is III, his ,Ameriean Eation il The
States admits e@isrants ireea from ali ior.
an ACT 10 dunn their criminal iunstics at Cas-
tie Garden, would Congress and the ExecU.
here Iexara ,hss Is lied Woa
so. when IN act has passed the French Cham-
bers to melt up iive-franc pieces. when that
Yer France win me- ely and herself otiie D 10 to
This fact them Stands oat The rs is sS
in E coo w II melt and sell
GERMANY annot do it Without f sysn
the Neichstag fresh appropriation Tor the |
Yes one, one country In Eurons may b
could not change her STANDARD and sell silver |
without Legislation. but rise of the price OF |
liberating some $50. ooo.o OF Austrian silver
street in declaring That Europe Was Jump.
Ing her silver stocks" here out Of the afore.
the oreisn sysy vo Bus tia, Is al
tour millions OF silver dollars coined for Esynt
Tho rss In Price would BRING 10 the en- me Tna
l,ot: me Egyptian Government. however. Il
coinage Collect and reissue tits Isl silver rrS at te
ower ratio. Such. then. is the position OF Eu-
rope her silver was coined at a, higher ratio
u every European Legislature is a strong
here shall be no repetition OF the diseracsiui
a9'i,sIliveT exploit Of eighteen years ago.
country about the European dump" that
' SS, = has perhaps run its course ~ Asia"
mons OF sxsi oo%s of
III the dollars that ever Chinamen took ZONE
~ith them. and an sruption OF indian rupees
writer. has even a slight exrer ience Of tho East
ms idea 81 India nloa4ing her silver on you
What is the position Of china aud india?
sass me om aAi na the b, case Msv Of O, india
mint seem nossSis ior silS.r to rsae aa Amer
sa HoT picture t9 yo%rss, The United States
ng dozen distinct nationailiies. speakine
Inherent languages, a country with hardly |
,ere during n single year and. further co 1a.
ny YIN l. n" banks sNeept In half dozen.
chants 10 heir business. Snrh is India. tho
'on " in which according to senator Sherman.
pat silver 10 be got together. silver that is to.
lay either boarded under millions OF hearth
tones or is In the form o! bangle, upon arms
.nd antilles how are you going to yet any Of
a aTdn less lime trouble and expen se 10
i ioek Noun aims than o r,o'lsc, It rom
iie scattered honrds Of India. ON: Of
GnOoLGoO OF natives less Than il n0o
or ! IN each 5000 hn' Q bank acco'n's at ali.
n wltt way then rRn you reach tho silver
when is boarded by that ynrt remaimderY
Il is the ryot OF the Pun!aub or tho sowkIr
! the DO Gun going 10 lend his silver TO Nav
orb I" buy New York tenira's, Ii comes :"
ms YOU rnnlget silver fru IN India only on ia
erms BY which Anddin's lamp was acGuireI"
0 get Si!yer IN India aud from Iu,lil NON ma,
ny II. Tho old rupre with II new runee, N''
venture TO make THIS further statement
'hich Will be- borne out by a,rry Americmn !
onsul in India today: The export from iuiin |
thre" crores II ru,ens thirty million r, n.es
ay fifteen m! Oh dollars, would uut nm ia |
u rate il In lin to ~ per oe l. MN. IA 80 "