The representative. [volume] (St. Paul, Minn.) 1893-1901, 1893-10-11


far as such graduated tax is concerned
Note: pound sterling is about S4So
penny is about two cents Land and mortgages
held by savings banks are exempt
COINAGE STATISTICS.
why Is Europe Interested in Gold
Standard for the United Statese
Irecently saw published statement
that England alone held of the United
States interest bearing securities, in
Guiding government and other munich
pal bonds, railroad and other corpora
ton bonds, farm mortgages ETC., the
sum of 49, 900, 900, 900.
1 have prepared table based upon
So, 600, 600. 900 land whatever the amount
may be that we owe her millionaires,
the proportion will be the same). l
also base my table upon an average
annual interest of per cent, which
all must admit is too low. The stand
ard gold dollar contains 25.S grains.
The standard silver dollar contains
412. 5 grains. The following shows the
amount of standard silver in the dollar
if the ratio should be changed to
~ to .................... ..olo grains
"a "a 10 o,S' slaa
20 W S~@. + REhlun.
The following table will give tho
number of grains of nine-tenths fine
silver they are entitled to receive with
the free and unlimited coinage of the
present standard silver dollar also at
the ratio of co. "a and % to of gold:
The principal is estimated at. $8,Ouu,OOO,OOO
5000, 000 00Jx4l2.5 equals 3, 800, 600 0D0 900
5000, OOO 0O0x516 equals. ....... 12s0)o OoO 600
5000, 900 OO0x6192 equals $50, 6)0 100000
5000, 0O0 000x722 equals ,779 20O, 100000
The annual interest at per
cent is. OBSERVATION-DISCLOSURES. S40OOOO,OU
400 0OO, 0OOx412 equals ....... $4,000 100000
400 600, O00x516. equals 206, 40 OO0 700
100000 00Ox619 equals ........ 247 $500 100000
400 600, OJOx722.4 equals 28S, $50 100000
1t is fair to presume that when we
pay our English creditors they will
take whatever coin we pay them either
to England or some other foreign coun-
try to recon and reinvest The present
silver dollar gives them 1925 grains of
standard silver for each dollar of their
credits, while a 20 to ratio by increas-
ing the silver would give them $40
grains, thereby adding to their credits
$4,000, 000,0 grains for principal and
Ala billions grains as annual interest.
This represents to the American debt
ors a coinage value of So, 600, 900, 900 and
over on the payment of the prin cipal
and 500, 900, 900 on each annual pay
ment of interest.
At ratio of "a to the amount added
to the present silver dollar would coin
into $4,000, 100000 as representing the
principal and 5000, OOO,Oo as represent
ing the annual interest.
At q "a tiO of % tn tho amount a11od
to the present silver dollar would coin
into $4,000, 900 as representing the
principal, $500, 100000 as representing
the annual interest.
l submit that they are now paid on q
gold basis and each dollar they receive
will purchase enough silver to coin into
$1.75, hence the latter figures repre-
sents the burdens imposed upon Ameri-
can debtors, by the demonstration of
silver, which inure to the benefit of our
English creditors Our American cred
itors receive the same benefits and the
burdens of our debtors are the same,
whether an American or an English.
man is their creditor.
Should our debts aggregate $40,
600, 900 and the annual interest 50, OOO,-
of the present silver dollar would per-
NIT us to exchange our labor and COM
modities for enough silver bullion to
coin into So, 500, 900, 900 of which we
could pay our annual interest with 3d.
600, 900, 900 and the debtors retain ST.
500, 000 900. Whereas under the present
system it takes the same amount of
commodities to now raise the S2,OOO,-
600, 900 for annual interest, and to pay
the principal we could procure enough
silver for $40, 600, 900, 600, pay our debts
with $40, 900, OOO, 900 and retain the $780,
600, 600, 900; whereas we. must now give
the whole amount of labor or commod-
tiles to procure the gold to pay on a
gold basis.
Can we begin to understand why Mr.
Seyd, the financial adviser of the Bank
of England came to the United States
in 1878 with $500, to secure the de-
monetization of silver?
Can we begin to understand why our
foreign creditors will never at any
monetary conference agree to the re-
monetization of silver?
And why our money centers oppose
the reconciliation of silver? And whv
we have increased from two to &c. 900
millionaires in twenty-five years? And
why sc, 600 people own over one-half of
the wealth in the United States? And
why the rich are growing richer and
the poor are growing poorer? And
finally, can we comprehend the result
when large majority of our people
demand restitution for this, the great
est crime since the fall of the Roman
empire?-A. w. Dennison, in Advocate.
After long and tedious delay the
mails have brought the results of the
French elections. The telegraph, con-
trolled by the rich, refused to convey
the information and the daily press re-
fused to publish it. Out of 592 mem
bers, the republicans elected 300; the
socialists, 1877; other factions, 90. The
socialists demand separation of church
and state, the public ownership of rail.
roads, an income tax and pension for
superannuated WORKING neon1e Tt,s