Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1891-02-17

nd their goll reserves are exactly III
like full egal>t~nder in fal6llmeLt OF at
contracts, Ayment Of debts includ. Oh
q their deposits, and for redemrtions Of
( their circulating notes. For these II
ranks to employ our reopen~d mints
$ the medium of exchanging their
eRal-tebder silver for its exact equiv. 4.
lent to them io gold would occasion
hem a loss ex, ct ding $4,000 600.
besides the costs Of freight. insurance,
interest. aud light weight Of coin. in
he transfer Of bullion to and from a
our mints. To attribute such . :
proceeding TO bank which for the !
third time has willingly and easily
rescued the banking fraternity of
England from impending peril. would ;
seem to be preposterous.
Also, against al dread Of Europes
silver at our mints, observe that these
banks constitute portion OF the
community of Europe which !" trade
with India 10 annually indebted to
India in amount exceeding 100000
600. II Europe is burde"d with
surplus silver her constant opportunity,
past and future, is to trade it of with
India at . gain in the exchange.
India's legal tender silver rupee aud
the saiI European silver are so related
to British standard gold, that only
1888 grams silver is lndia's require.
ment. seains. $50 81 ~ Eusope's, and
against 37l.25 - our mint requires
ment Of silver in legal tender coin
equivalent Of our unit, 1922 grains
gold. Europe's vast annual settles
ments with India being made in
Council Bills bought 10 London, IN.
stead Of Europe's recoining her silver
leQal>tender money At this increased
} valuation into rupees, is such . neg
lect Of constant opportunity as must
! satisfy the unpr+ j"diced aud we'll
, informed that Europe has in fact no
surplus or spare silver.
: According to tho eminent ststisti-
clan of Paris, France, MIR. Ottoman
Iaupt, BY letter dated August 14th,
1890, Of whom the Economist says
! "few have given more attention than
[ he to monetary statistics and affairs"
, " Neither will Germany sell any more
3 Z" thAlers, nor Italy her demonetized
i" Bourbonian piastres; nay, even little
: " Roumania looks already mournfully
" on the $4,000, 900 francs of 6ve.lei
, spices disposed Of to . group Of
Viennese bankers"
Final ,, sharing the lamented Sec
retary's convictions that neither all
the gold nor all tho silver Of the
, world is sufficient for the money Of
} the world, the coinage Of both metals
SCENE to me to be the worlds nece. :
J s;ty.
With the instances Of Spain,
France, and India remote, modern
aud present as suhstAntiati"g my be-
lief. | rely upon the stupendous fig
uses OF GU. trade and commerce SO
recently collsted BY the Secretary in
demonstr alton o: the commanding
position OF tho United States among
i, the nations, to assert my conviction
{ that our adoption Of equally free coin
}, age for gold aud silver, upon our ratio
. Of 1888 to l, would be entirely safe
a emi"ently patriotic As All American
o policy, aud strictly sound finance.
,. With the experience Of France dur
$ ing the period Of seventy years te
,, 1871 recalled, also no.ing India a.
headquarters for the East, with he
$ mints open, and while she CONSTANT,
Il accumulstes both gold and silver from
,. the outside world, my conviction il
;. that equally free coinage for gold ant
y silver, upon our appointed ratio, woule
| make the United States, New Yorl
= city in particular, headquarters TO
|. the commercial worlds supplies {.
9 both the money metals; and With III,
;, minimum price of silver always ex
70 oeeding $l.29 per ounce.
As to tho reputed over>proiuctio'
~ of silver in the world: Note that 70
1t forty yeas OF the severity. durinl
IN which the mints Of France coine,
gold aud silver freely. on their ran