New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-01-05

On the other hand, We had one year Of this period
IL which the surplus import Of gold exceeded 49,.
100000 and another year In which the net import ot
gold exceeded S07. 100000. so that as the result Of
this period Of twelve years TO date our net snrpu.
SlooOO0,O00, and during these same twelve years u
December 81, 1890. the mines of the United states
have yielded S373, 100000 OF new gold.
A word or two hero a, to the prevailing impression
that there IS at present vast oyerproducton Of sll
nhts. The past and present proportional pnnucuoh
OF gold and silver In the world Is OF importance y note.
period OF seventy years following lcO3 the minis "
France We're equally open 70 their eeallender gold and
cent higher than our minis value it, In the period 4
100 years to loOl Of the tal production # gold and
yesrs following "a Per c Gt n was c Vas v ere u"
but again IN the ten years following to le-j. 6s per
cent was silver Set for the year. 1859. In which
pears, only 50 per cent of the total money metal pro-
ducLion was silver During the last twenty yeirs tie
ductiOn Of silver, showing recolnageS.
Finally, if our foreign bankers. domestic bank
ccrty Of our bankers shall influence, are 10 cherish
still their fears and without established facts which
you to avail Of these timdta, 10 enhance directly and
Importantly th, prosperity Of tie United states. seize
dOns to reopen minis forthwith 10 gold and silver
II ten the locking mp OF gold shall follow predicted.
Gold IS money. To heard gold idle will occasion loss
of interest Prime sterling bills are gold at due date.
cotton available as nves ,ment,. returning gold a.
ducdate with the equivalent of interest tn invest
ment for the Interim. ANY premium gold pros
pcctvelY Obainable would thIs be assured the pur-
chaser of sixty day sterling bills in addition 10 the in
tercst, which he must sacrifice if he choose, instead -
hoard his idle gold. ADOPT free-c0nage then confirm
predicted fears and the demand for sterling bill> viii
advance the rates for sterling exchange Immediately
ard Importantly. which OF all things is the thing
most needful 10 relieve our cOngcstcd cotton centres
and all money markets. and in a single city.
Memphis, Tenn. $S000,0O0 worth Of cotton j, to-day
reported stored
Adopt free coinage Of silver Immediately, and with
these results il our bankers predictions are war
ranted, and thereby yOu rush cotton and spare
cereals to the seaboar. and on ship. and into money
due to us from Europe. and thus 10 increasing the
present balance credit In trade shall giyc ~
title to important additional Of England, over.
precious gold England threatens H. no Hood ~ s'
al orr mint most timl1 bankers WI admit. Hence
the immediate result Of all OreOh anXiotles and ~
their worst Is the eminent Increase Of the prosperity
of our people. Adopt free coinage by the gcthot
hereinbefOre designated As compromise. ana YOU
hazard nothing. meanwhile, il my predictions D. NOT
fulfilled.
TO members Of yOur honorable committee have
stated privately certain facts and conditions which
support sincere conviction that liberal financial legi'
latiOn is become present need. II the anticipation ~
q fair degree. Of general prosperity Throughout the
Hnited states Is TO be allowed for Ms in l-9l
WILLIAM I. ST JOHN
New York. Jan. 3. 1890.