The record-union., 1893-01-05
VIEWS OF A GOLD MAN
Who Has Studied the Silver Question
Thoroughly.
Countries Where Silver Coin Does Not
Pass at Its Face Value-The Dam
ger to This Nation.

| Edward J. Peeler of San Francisco,
gentleman who has given years of study
to the silver question, is visiting the city.
He was seen at the State House Hotel
| yesterday by a RECoRD-UNIoN reporter,
who had learned that Mr.. Peeler was a
| tinancier of unusual ability, and asked to
explain some Of the features of the silver
question, such as have a bearing on the
matter of free coinage.
The result was an object lesson in coins
that would serve as the basis for an ex-
cellent public lecture.
Mr.. Peeler was prepared to illustrate
the subject, for he went to his room and
brought forth bag containing specimens
of the coins in use in every country on
the face Of the globe where metal coins,
especially silver, are used. These he
spread out upon a table and explained
| their relative values, both intrinsic and
commercially.
! Having travelled extensively in Mexico
and Central and South America, where
silver is the chief coin in use, Mr.. Peeler
was enabled to speak from an actual
knowledge on the subject.
| Before leaving San Francisco" said
| he, 81 bought Mexican dollars. They
are practically equal to our standard dol
lars in weight, no better in tineness. In
| Mexico l found them worth about sixty
nine cents. That country is as near as
they get to free coinage. Unlimited
| quantities of bullion are coined into
| Mexican silver dollars. Unlimited guam
! titles of the dollars go into the markets of
the world. They go to China for what
ever silver bullion is worth, but they are
measured against gold there. They go to
| Japan, but seldom return from there. IL
| is legal coin, but not redeemable in gold
! by its own Government, and always falls
| to its value as bullion.
| 1.-The Mexican merchant goes to New
York and takes that dollar with him. He
can get no gold, for the silver dollar has
driven the yellowed money from Mexico
almost entirely. 1t passes for sixty-nine
cents into whatever market it is paid
| That is the condition the money of Mex
leo has sunk to, and her dollaris better
than that Of the territories south of her.
| The dollar of Guatemala will not 90
into the commercial world at any price
except as bar silver. 1t has to go back to
| the bullion pot to be melted at a cost of 2
per cent, which must be deducted from
the value of the silver in it. The coinage
of Bolivia is worse, because the quality
of metal is not fine. They call it tin
money.
Before going into Chile I changed my
Mexican money for pesos, getting 81 10 Of
| Chilean silver for a Mexican dollar The
| Chilean dollar had to be changed for the
money of Honduras, which passes at the
rate of 81 25 for Chilean dollar When
1 reached Colon bia | would have had to
pay 81 silver for SIS of gold.
81 never saw gold in any form down
there. The people don't know what is the
matter with their money, and are paying
| great prices for their goods. Down there
| | met commercial travellers from the Pa
citic side of the United States, from Eng
land, Germany and Spain. Every one
| Of them carried instructions from his
! house to make his bills payable in gold
coin. No man will sells goods on any
other basis there. A silver proposition
will not be taken into consideration
They say: we don't know what it will
be worth next week"
"a man who holds gold from any part
of the world or paper backed by gold is
all right, but silver is out Of the question
except by its weight as bullion at the
market price. The merchants keep
! posted on the fluctuations of silver. If il
goes up, for more, if down, for less.
I'VE simply lack Free Coinage Act to
suit ourselves to the level OF those COM
bines. They would drag US down or the
| United States must raise them up 80 per
cent. with over S400,000,00O in silver to
| spare, which would be dumped on u.s.
and we will have done nothing for our
selves by raising them to our level. More
over, silver mines of Central and South
America are not half worked under the
present conditions.
81 would like to make this propositions
| If the Government will allow me to put
in bullion bar the first hundred thousand
dollars under a Free-coinage Act at 4I25
grains, 800 fine, and give me a week to
/ transport them to San Francisco, | will
| lay them down to any man or bank III
the United States for so, 900 gold dollars.
1.-The American silver dollar will never
be worth more than 100 cents, but with
the Stewart bill as it stands a law the
silver dollar will fall flat to the level Of
bullion. If that law passed and a man
owes 100000 without the money of pay
ment stipulated he can buy 100, 900 Mex
lean dollars for $4,000, coin them into
American, and cancel his debt. The
nations south of us are crippled by their
monetary system, absolutely ruined
financially, as any one can see who Wis
tied them, and we are kings. Not a few
silver men who have made speeches will
mention the trade dollar, that swindled
| every girl, old woman and blind man
under the flag. Yet the same ring that
dumped the trade dollar on to the country
is backing up the free silver BILL"
Mr.. Peeler will be in the city for sew
eral days, and It would well repay any
one interested in the free coinage of silver
to call on him and discuss the subject.