The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-02-27
ynss SILVER COINAGE


IHkE 6kLp1h GOI1AeEs
M. Frsws~ Resurrs 60 rts Support.
To THE EprroR OF TIE suN-Sr. FREQ ell.
YER coinage Is such q burning question In this
country that visitor mar we'll be dauntcd Of
the reception the press 10 likely to accord to
the unpopular view. But the tone and temper.
nj least Of the Eastern press. In discussing
this Bland bill 10 90 identical With its treat.
mont Of that other Bland bill In 1873 that I
venture to ask, Ia IL not possible that their
leader writer's are mistaken now as they were
ut that time1 In 1878 legal-tendsr silver. .
dishonest dollar" a pot-lid dollar" was to
drive out gold" Congress was trying to
make water run up HILL" and what has en-
sued3 This country has since absorbed Is
per cent. OF the gold currency Of the world.
and has. during The fourteen years which have
elapsed, expanded her currency BIZ twice a.
much gold rs silverl
II you go to free coinage; H. to put It shortly.
your Government offers an ounce Of
gold for sixteen ounces OF silver. why
should not the price Of silver all the
world over conform to TINT, ratio1 That
is to say. the price OF silver rise to and
remain ut 129 cents per standard ounce. Who
In Europe Is going to sell silver for less. II By
sending II to America he can sell It for that
price? Nay more. will any European holder Of
silver sell his coined silver tand bullion silver
we have practically nonel for 10 cents per
ounce. when those coins are worth there 1872
cents to-tlny. TO nay all debts and taxesi Re-
member that the European coinage ratio Ia as
to 15h: now. suppose that France Tomorrow
were to open her mints to free coinage at to
II. would your citizens hcre melt up their
.i.v,r dollars and exchange them for French
gold ut n loss OF y per ccnhf Nor would YOUR
Government do this-embty her vaults Of ALL
ver. to bc exchanged for gold at tho French
inints. because Congress would not allow Il
and similarly tho political forces behind silver
in Europe are such that no law t. sell colnod
silvor for American gold could possibly pass
those Legislatures to-day.
And II no silver will reach you from Europe.
certainly none will reach You from Asia. In
Asia YOU cnn only buy silver with silver; Asia's
silver cannot BIZ collected for export. cvcn bya
high bank rate. because; with tho exception
:" are noae Vii" Tnia IL the r"ason Why Asia always
Tns great t! snE s =" eHS o Orient ''"
The g"I rrss" # MS count; x ar" irving t.
"in,i,.tinn." when il WI require "tw, silver
dollars I" hMy what today can he tiu.ht for
to inc rvasy the value Of their silver mines ~
reducing the value the nurehasing power-of
1t seems to me that the freo coinage OF everH
sixteen ounces Of silver viii rnaTis this c ,un-
try to draw IN o;inte Of gold from London: tue
il London y .anlr Ani sold Tor gold. wach
gold and si!vor at to i5si ior the iiist seventy
y yrs :" .y ' % r. in tho S"s 1 sr y.s sss
Of the century three tines ns much silver was
, "nx t tw q" ss Ia w . laS
1850 and 1880 t!,s rrndurtinn 81 gold WA. ~
!sss hss # YET
the price OF silver o,nir uci t" the Fl .I,cll law
# II" i5,; During FL ,so YEARS 1 sas price
Standard ounce, Fiji. stead ness Of value
was the result oi fre. cn!nns., in France. To-
tryvnsty moro important am! With An almost
lninito export, capacity. Will be followed by
it Is utmost inorrIibic that thus Int IN the
day he real interest tni> c"untIy has 70 tho
dsn Des or rs section y tns s
EafteEn press; The writer spe,t two winters
AZ s silver l. free. and: country q
2Tn0M:OV Of p-onlr md nn banks. the
unaecte sf Sy ts denr"saioa IN Europe
deed the rupee ia worth rathor more to-day
ar ~ or ANY oen eomymsaes Now the M
dim d an sor on. year with nntl-r to sell
@say -; ri ress.psssE quarter u $50 pounds:
s9 SCI s to x9 g f stSs9
words for 81 Il the price Of silver II what Il
Tor - Il the price q slvsr is what las
tsS IT, ,E Esst s So s f #. sss
ver he's diminished the balance. annually
Swng tH thls on Wheat alone
a rapid expansion: An willis suci, IL thS. eon-
Il:
case OF cotton; m"tzr. lut.. AMI lnnny othor
ree with ill., S in Sa'sn rate as Of e en
tied As u, tie Hs % RS w s tn" su?1s s Tsnse '
seventy years mainiained steady ratio. aud
2 n hs hs eh tie y
EoId and silver at iie rat" q ! t., il: Oat
monthly, into, 1ircmlaii,n. and unless this do.
country Will certnlpIy come to silver basis. IL
'. The present is TIC psychoIosleal moment
You have thr , rr?miis" o. tM" Years q colossal
s.n"F's sss" Ire" deonsfi s G lss
prices In the European MARKETS. st!n,ula'e
iarihlT lask to YOU again IN payment Tor soss
!; :mnT ,S tn" s;sGns "nsass TINT {:
iHnasy and ~ brtwesH the silyrr men and
the SolHl men here there Is no real dIffer:ncs
that " America; With the other nations" can
maintain e fixed ratio: with what other
Bolivia Or Roulnanis remain outside the b.
metallic Union; such n .ai'iecti4n wiz wreck
mania. and also say Germany and itaiy. would
tho ratio hold good II ltoumania. Italy. and
Germany remained outsider, .,.,o :,
Of degree only. The silver. men believe.
arguing from the analogy Of what France
formerly did. .~tint America can main
tain the ratio alone. md uhnid"d. while tie
gold men must admit that they are III the dark
ug IN vida n n n n nfn n nsnss
should Ice. MoREToN FREwEN.
FEB. 23.