Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1891-12-17

dCtuhA anu estAnlateus are 1888 nm m,
expenditures S409, 100000. For V.VSO,OOl
ending June 80. 1893, the estimate fa
S4b5, 3S6, $50 and the expenditure co ~ Rec
Under the law of July ID, lSS SS s,inil,Sl
of the treasury has purchased Sino oHe Sc
during the fiscal year 4S, 1893 lIy ' ous An
bullion at an average cost of a. VHu ,i I
The highest price paid durino :, Pc,
$1.2025, and the lowest so. 96S6 we y
this silver bullion there have tn e1chl
577. 1893 of the treasury notes ant zen i'H
act. The lowest price of silver 'rnoofl2et
the fiscal year was SO. 1886 on Anil aNs.hed
on November the market price ~ q Ii
which would give to the silver do Was o.
value of 741A cents. uoiIatS
Before the influence of the nro,.
legislation was felt in the mroo,stpeesCtEe
worth in New York about So, OK nn at SlV
ablest advocates of free COINAGE ?f IT, 0uno
gress were most confident in tbtm me 4
that the purchases py the goye,n urit na
by the law would at once brine th nlent h
yer TO 81. 1929 per ounce, which w vne (pIflN
bullion value OF dollar 100 co MUD ID
there. The prophecies of the sntJ SNd
disasters to result from the coinenSs Lva
per month were not wider of tSo OE|
friends of free silver are not any, ne mad
to the causes that brought Their IIe ou U
tons to naught. Some facts NopeNlI
The exports of silver f,n are
to India during the first 'Un
of this calendar year fell niSe
per cent, or ST., POP, $50, comnotos
same months of the preceding % Nos
ports of domestic silver bullion fEeaE
try. which had averaged for tho 'Eoaa
over S17,000,000. fell in the last s
SlS, 797, S91; while, for the first ti,"o 10
years. the imports of silver into ~.
exceeded the exports by the snm m tG.
In the previous year the net eyno VI
from the United States Amounted %
The production of the United Sto,o,
from 50,000,000 ounces in 1880 ~ =,
1890. The government is now buv;,Yo%
ting aside annually $4,000 900 ouncosS
lowing for 100000 ounces of new T.
In the arts, Is 6,64000) more than o Vu'N
product available for coinage
! hope the depression in the nrico =,
temporary, and that a further triaI NV 0ya
lation will more favorably affect II
increased volume of currency thng s,.
the use OF the people was needed snS!
fetal results upon trade and prir"s
lowed this legislation think nnstH,
to everyone; nor should it be Grrov,.
every dollar of these notes issued HS
worth of silver bullion is at the timo
i'll the treasury as Il security for lis r,S
Upon this subject, as upon the torS
ommendation is that the existing lo",
u full trial, and that our business M,
spared the distressing influence wbnS
Of radical changes always import r.,
ing legislation 1t is in the power ofAs
II N "a n a ~ ,,t
of national finance as well M If o,.
prosperity-the parity in use of the M,
ind their paper Representatives Tbs,
that these powers would be freely SsS
iatingly used has done much n
and sustain the present favorable hd
ditions.
/ am still of the opinion that them
of silver under existing conditions
astrously affect our business lnterqs,
and abroad. We could not hope 70
an equality in the purchasing powerd
and silver dollar in our own mMEg
foreign trade the stamp gives no adde
the bullion contained in coins Thu
of the country. its farmers and hh
the highest interest that every doh
coin, issued by the government, h
good as any other. If there is onehS
than another its sure and constant on
he to pay them for their toll and forth
The money-lender will protect hima
ulating for payment in gold, but N
has never been able TO do that Tom
ness upon u silver basis would mean
and severe contraction Of the Cung
withdrawal of gold and gold notes, al
unsettling of all values as would
commercial panic. ! cannot believe
pie SO strong ana prosperous as Ou
mote such a policy.
The producers of silver are enta
consideration, but they should not
the government is now buying and
of the market what is the equiyaentd
product of our silver mines. Tbbb
they themselves thought of asking
ago. ] believe it is the earnest desire
majority of the people, us 1t is mine
coin use shall be made Of silver Just
the cooperation of other nations can
and rate fixed that will give
equally 10 gold and silver. The b|
world requires the use OF both metals
not see any prospect off gain, but mu
by giving up the present system
full use is made of gold and
use of silver, for one in W
alone will circulate, Such IN g
be at once fatal to the further pro-
silver movement. Bi-metallism Is
end, and the true friends Of SlIyCIN
full not to overrun the goal and bril-
mono mctallism, with It's necessary
the loss Of our gold to Eurape and
the pressure there for a larger
have endeavored by the use OF ollC
official agencies to keep close 0@
the state of public sentiment IN
this question, and have not loundI
as to justify me in proposing an
conference. There Is, however
growing sentiment in Europe lnN'V
use of silver, and know OF no lao
way of promoting this sentiment.
cumulating gold here. scafcg
the European reserves Will Dc
suasive argument for the use olS.
The exports of gold to EuroE
in February last and continUeaUa
of July, aggregated over S9W%
loss of gold during the ilscal yea,
S6S,000,000. That no serious mOE
ance resulted was most gratiyloS
Europe fresh evidence OF thc
stability OF our financial lTSNs Isl
the movement of crops the ouIvS
speedily stopped. and return w "
December we had recovered o WS
at the port of New YORK S2hSt%
confidently believed that DURING
spring this aggregate will be S'e'aD
VI n