The farmers' union. (Memphis, Mo.) 1891-1895, 1893-08-10

upon the subject They accomplished
IN one day in the suspension Of coinage
what our Government has been unable
TO do in ten wears. and now. if by re-
fusinS 10 give demand for silver they
can SO reduce its price as to alarm the
United States until they establish the
ratio OF value in harmony with the rel
ative value between gold and silver at
the low price of silver as produced by
their action they will accomplish one
of the grand results hoped for by
doubling the value of all Of their cred
its and guaranteeing cheap silver with
which to supply their wants in India
fer wears to come. To talk about
ctasing TO use silver as money is alb
s:r,i; more than two-thirds of the
population of the earth Lave 10 coined
money but silver. There is estimated
to be coined III the world as money
gold amounting in value to =:;,Io1,-
OBS, 500 and of silver -. $40. 81 .:i,;!. of
this silver there i, -, 1922, 800, 900 a full
legal tended in payment of all debts.
Ia 1890 this legal tender has held by
the following nations in the follow
ing amounts: France, 5000, 900 600 :
Germany, So. 600 900: Belgium, SIS
400. 900; italy, 80. SU0,0 900: SwitZer
land. 81 .4UO.uUO; Greece. 1900, 600:
Spain, $50, OOO. 900: Austria Hungary,
$50. coo, 600 !: Netherlands. SOL 500, 900:
Russia, S222 OO0, 600; Mexico. $50. 900,
900; South America, So. 5000, 900: :
Japan, $4,000, 900: India. 5000, 0OO.
900: China. 500, 900 coo, the Straits,
SlUO, 900 900: Cuba, Havti, etc, 81.
2O0. 1000. All of this money except
Mexico and Japan has cost holders ia
the equivalent of gold more than six
teen of silver to one Of gold. And
does any sane being suppose that they
are going to acuulcsce in any move
nent which will depreciate the pur
chasing power of more than half of
the accumulated money they have
been able to save as nations i'll their
history? And in some cases. as India
and China, all the money they have
being silver. No, they would all be
glad to see the value of silver en-
HANGED. The contest is between Eng
land and the tnited States: never
lose sight Of this fact: England needs
silver % pay for the products she i'm
ports and she has no mines that can
produce it, and the United States Is
the producer and England wants to
destroy the value OF silver as far as
possible SO as 10 enable her to buv it
cheap.
John Bulls scheme.
Now let us see. When silver is
worth SO cents per ounce it will take
600 pure grains of it to buy %. ID
grain, Of pure gold, the amount is an
American dollar, or 1881 grains OF sill
Yer to of gold. Now suppose that
the United States. under the present
pressure, establishes Il ratio of % of
silver to OF gold. then she fixes the
value of si,vcl. ut 50 cents per ounce.
and England can buy it at that price
and send it to her mints and coin If
into rupees at Sl.464 per ounce and
use the rupees to pay for wheat. cot
ton. rice and jHte and fix the price of
our wheat and cotton. As there will
be many who will read this article who
will not have an opportunity to read
my address III connection with it. | re-
produce from it SO much of it as to
show how England has done it.
4 Grand EYpose.
a pound of cotton or a bushcl of
wheat Of the same quality is of equal
value to the English whether they law
it down from India or America. Sup
pose Il Manchester cotton spinner
wants some cotton for his mill and
wheat for flour on which to feed his
operatives. He writes to his London
broker to buy him say 900 ounces of
silver and ship it to his broker at
Bombay. At 50 cents per ounce it
costs him - 800 in gold. He writes
his broker IN Bombay. on the arrival
of the silver bullion. to take it to he
mint and have it coined into rupees
and invest the product III cotton and
ship it to him.
His Bombay broker on the arrival
Of the silver. oheys instructions. and
after paying per cent. scnlorage for
having 1t coined. received in rupees
Sl4.3,4 worth. which he invests in cot
ton and ships to Manchester. On its
arrival, counting the cost of silver.
freight brokerage, Insurance. etc, say
1t costs 10 cents per pound to lay II
down. An American offers him cot
ton. and if he buys it from him he will
have to pay for it in gold. SO he SAYS ::
Il am laying down cotton from In
dia At a cost of 10 cents per pound III
gold. and other thin IS being equal. |
would prefer II ratronlze our own col
onies"
Therefore, If the American sells he
must offer the same quality at a lower
price. And the price 1t which the
Euglishman can lay his cotton down
from India Is what enables him to t:x
the price Oh our cotton.
Free Coinage Would stop Ii.
We will assume for the present that
4 We had free coinage of silver that al
ounce OF ii woliu be worth 81 9:'1N and
If it was. then 10000 ounces Of it would
cost Sl2.!'29 III gold. and wEeu sent t.
Bombay and coined into rupees and
When the >enIora-t was paid. would
only give Sl3.37 worth in rupees. the.
same is VI ken the first cost was - 500
and there being 10 more rupees. i,