Mexico weekly ledger. (Mexico, Mo.) 1855-1956, 1891-04-02
VOL. XXI.
FREE COINAGE OF SILVER.
A Controversy Upon the Great
+ Question of the Day-The
Difference in Two
Large Countries.
From the Lexington mo Intelligencer.

| From the Lexington Mol Inteligencer.
A and B met on the street and
after an interchange of the days
compliments they drifted into q
conversation upon the great ques.
ton of free coinage of silver.
II don't believe in it," said B.
'As soon as you pass law pro.
viding for the free and unlimited
coinage of silver you open the doors
to the entire world, and this coun-
try will be flooded with cheap sill.
yer dollars. Gold, as the more
precious metal, will be driven out
and this country will be left to
struggle alone with a debased
money"
II do not believe that your fears
are well founded" answered A.
According to statisticians, Europe
does not produce half as much sill
yer as she consumes in the arts.
Her bank reserves call for s428,-
100000 of her silver coin, and
the balance of her bullion, $685.
1000, is in the hands of her peo-
pie. The average ratio of the
European silver coin is little less
than 10 IL OF silver to l of gold
while our ratio is Is 9S or about
one-half ratio higher. Hence the
amount of silver contained in the
European dollar or it's equivalent
would coin only 96.95 cents of our
standard silver dollar. The loss to
Europe's silver owners, therefore,
would be some $50, ,OOO, 900, besides
the cost of sending the silver here
to be coined.
"But suppose your fears should
be realized, and all the nations of
the earth should send their silver
to this country, what would be the
result? Of course they would not
bring their precious metal-for sill
yer is precious-here and give it
away; they would want an equiva-
lent. Our stock of gold, which it
is presumed the y would first ab-
sorb, amounts to sos, 600, 600.
But Europe has 1,103, 100000 of
silver, and for the balance, $685.
200, 900, she would have to take
something else. What would it
be? Wheat, corn, meat, and
manufactured goods-and this
would soon be enjoying the possess
sion and use of 81, ,539, ,462 900 of
silver coin and be the richest ma
tion in metallic currency on the
globe, except France.
''But, mind you, the food
wouldn't stop here. The annual
output of silver in the world is, in
coin value, about s160, 600, 600, of
which little over s57 100000 is
produced in this country. This
leaves little over 800, ,OOO,O0 to
be brought-here every year to be
exchanged tor our wheat, our corn,
our meats, our manufactured goods
and what an impetus it would
give to business. How cheerily
would our farmers resume their
work at the plow How merrily
would spin the wheels of our manu-
factories. The very bells that call
industrious labor to its daily toll,
the shrill whistle of the locomotive
announcing the coming train, would
sing a refrain of joy, prosperity
and content.
"Une hundred and sixty million
dollars a year !! Thus year by yeal
would our money increase and gu,
prosperity grow. Trade and enter.
prise, no longer shackeled for the
want of funds, would spring to new
life and the young giant of the ives
tern hemisphere would become
more gigantic still"
"But," said B, show would it b.
when we wanted to buy certain arti
cles from other countries 20
"No trouble about that. We al
ready sell to other nations about
500, 600, 900 more goods and sup
plies each year than they sell tt
us hence they will be the ones
concerned about finding a suitable
medium of exchange. This woule
put Great Britain, Germany ant
other European nations in tn
market as purchasers of silver ii
order to be able to buy our goods
; and this competition would almos
at once bring silver to a part.
with gold and send 1t to premium
Then, the stimulus that would b
given to silver mining would great
lily increase the production, and al
the great silvery streams woul'
come flowing into this country t.
be exchanged for our products
In ten years cur money volum
would increase to nearly SO, 800
, OO0, 600, The United States woul
be by all odds the most prosper
, GUS nation in tho world and
, wouldn't be boarded wealth eth
Ter. While this country would b