Southwest-sentinel. [volume] (Silver City, N.M.) 1883-189?, 1892-07-05


the republican party, to retain its
iniquitous system of false p%retense,
asserts that the tariff is designed
to protect American manufactures
and American wageworkers against
the pauper labor Of Europe, it
affords neither protection nor
justice to the silver miners, a
most meritorious class, who pro-
duce a money substance which is
unlike any other product, amount
ing to over 100000 ounces an
nually, which, at the present price
of silver, brings TO the miners of
this country less than $4,000, 900
while the free coinage of silver
would make the same product
worth more than S77,OO0,OOO. IT
would put some S23,O0O,0Oc more
into the pockets of the silver min
ers of this country annually, where
it legitmately and meritoriously
belongs, and thus add to the com
mon wealth; and who would it inn
poverish ? The silver dollar
would be none the less a dollar. 1t
would still purchase as much as a
gold or paper dollar and it would
prevent England from purchasing
our silver at a very large discount
or at all for any less price than
the United States government
would coin it at and using it to
purchase Russian and Indian
wheat and cotton.
"This opportunity being re-
moved would force England to
buy wheat and cotton here and
give our farmers a new and natur-
al market for their products.
England buys silver in this coun-
try at its bullion value and dis
poses of it in India at its coin value
Oh a basis of fifteen unces of
silver to one ounce Of gold, while
our standard is sixteen ounces of
silver to one ounce of gold. Fif-
teen ounces of silver T worth as
much in India as an ounce of gold.
An ounce of gold in this country
is worth S20.67; fifteen ounces
o. silver costs in this country at
the present price, as l see from
the quotations in The Republic Of
this morning, Sl3.20, being 88
cents an ounce, giving the English
purchaser a profit of more than 80
per cent. On an Investment, then,
of $500 he purchases in India
S20.67 worth of wheat or cotton,
and can afford to pay even more
per pound and more for freight
and still derive an enormous profit,
while the producer of wheat and
cotton in our own country &C
begging for a market"
"How would free coinage remedy
this evil p
"With free coinage by this gov
eminent England would be unable
to buy our bullion at a profit fol
the Russian and Indian trade, and
would of necessity purchase ouI
products because of cheaper trans
portation."
"The government now coins
four and a half millions pei
month";"
Eyes, sir; the coinage of S4,500,,
600 monthly under the Sherman
bill, however, does not remedy
the evil at all, because it leaves
silver still a commodity of huctuat
ing and falling value. Yet while
that bill was pending the price o.
silver rose to S1.20 an ounce, anC
our farmers felt the immediate
effect. England changed her pol
icy for the time and bought wheat
and cotton here, and it is estimated
that the American wheatgrowel
and American planter reaped 49,
100000 of profit. The cry of the
gold bug that the free coinage OF
silver is the selfish hobby of the
silver miner is a misrepresentation
of the facts, for while they are be-
ing robbed by the government OF
about $4,000, 900 annually the
cotton-growers of the South lose
more than four times that amount
annually, and the wheatgrowers
of the Northwest year after year
have ilched from their earnings
more than FIVE times the annual
loss of the silver miners, while the
millions of wage eorners of this
country are even more acute suff.
erers by reasons of the false fnan.
cial policy Of this government. 1t il
small wonder that England furn
900 ann