The midland journal. (Rising Sun, Md.) 1885-1947, 1893-07-28
America and Silver.

II is passing strange that our people en-
gagged in every line of business are so stu
pidly blind to their interests as 10 join the
London Shy locks in their raid against
silver. The business of every manufacturer,
merchant, mechanic and all the minor
branches radiating from these great arteries
of trade in the Enited States, would be al
most if not quite doubled if our government
would firmly lay hold of the opportunity
which our position among the nations of the
world places before us and bids us act.
The United States produces over 40 per
cent of the silver of the world, Mexico pro-
duces 80 per cent and in round numbers the
American continents-North and South
produce not less than IS to so per cent of
the silver that is annually produced in the
world.
If the United States minis were thrown
open to free coinage all these American
countries would send their silver bullion
here for coinage. 1t would be coined into
United States money. They would not
take the coin away, but invest it in
goods. The entire country from the Rio
Grande to Cape Horn would come to the
United States for their goods. They would
trade in the market where their silver
would purchase the most. The legal tender
value of silver being thus brought to gold
value in all American countries, by our
open minis, the demand for money in ali
American countries would soon cause the
coin to flow into those countries south Of US
till the equilibrium was restored, which for
while would be disturbed by the rapid
flow from those countries into the United
States for coinage. European nations could
not Withstand such pressure for six menths
The loss Of their trade in all the Soutl,
American countries alone would cause such
shock to the business of Europe as those
nations have meyer felt since Bonaparts
cannon walked them up.
And the scarcity of silver in European
countries when rs per cent of the worlds
supply was excluded from the Old World by
American coinage, would speedily send i, to
premium above gold in Europe. These
results must inevitably follow if the United
States remonetizes silver.
The talk of initiating the money of the
American continents by coming, probably
$l50,000,000 year and spreading it over
| the vast area of the two continents is such
veritabie bosh that sensible people will not
entertain it if they will only use their own
! Judgment for moment. The internal
| trade of the United States alone is equal to
that of Great Britain, France and Germany
combined, and almost half the miles of rail
road of the world are in the United States.
The addition of 100 millions a year would
not begin 10 supply sufficient money for
| this vast area and vast trade. To entertain
| the lunacy for moment, that this country
cannot use, for money, the trifing amount
of silver which is mined after the arts are
supplied is preposterous. If we consider
that the United States would be Immediately
backed by the trade of every nation on the
western hemisphere, because it would be
their interest TO do so, is but to add strength
to our impregnable position.
| Any man or eyeu inexperienced boy who
will consider the conditions which fortify
the United States, cannot help seeing that
We are complete masters of the situation.
What lot OF statesmen we must haye to be
the dupes they see1l TO be of a little nest Of
Hebrew gold gamblers in Europe Are
they duped, hypnotised, or are they bought
like the daily papers? And what midsum-
mer madness Possesses our business people
in every line of active employment, who
cannot see this stream of wealth silently
flowing beneath their very feet?