The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1893-09-12
Nc 81
SILVER STATISTICS.
Facts About Silver Coined in all Civilized
Countries.

added to the stock in 1890 was 1885,,
667, ,OOO The western hemisphere pro-
duced $141, 757, 600 and the eastern pro
duced $24, 92O, OUO. The United States
furnished $40, 485. IA, The silver coin
age of the world for 1890 was $141, ,4O4,-
O99. The eastern hemisphere coined
$81, $40, 468 or $50, 920, 468 more than
they produced. 100000, coo bought at
IS cents an ounce cost them $51, ,G00,
900. At 81 90, the value of coined sill
yer per ounce, it would have cost them
ST, 574, 600. The profit to the importers
of silver coined into India rupee silver
dollars was $26, 574, 600 for the year
1890. England coined at IS cents an
ounce in 1890 $66 255, $50, or $52,816,-
500 more than she produced, to say
nothing of what she used in the arts
ten million more. England buys $780,
100000 bushels of wheat and 3, 100000
bales of cotton annually. She buys of
her India possessions first and on the
worlds market next and pays for pro
duce in India in silver and manufac-
tUred goods. England buys silver and
coins it at her minis at Calcutta and
BOmba into rupees at the ratio of in
| gold to Is in silver. A rupee dollar in
silver viii buy as much cotton and
wheat in India as q gold dollar Eng
land coined at her mints in India in
1890 $27, O61, ,351, more than was coined
in the United States While England
is the greatest consumer Of silver of
any other nation her possessions pro.
duce In round numbers $13, 600, 600 an
nually. 1t is to her interest to buy her
silver bullion cheap, hence she seeks
legislation that will depreciate silver
bullion as she has deprecated cotton,
wheat, etc.
Repeal the Sherman law without
substituting free and unlimited coin
age Of silver and it will be worth one.
half that Of gold. Put dollars worth
of silver in a silver dollar al England
will export them and coin two rupee
dollars out Of one and each of these
rupee dollars will buy as much cotton
and wheat in India as a gold dollar
will buy in this country. Unlimited
coinage of silver, 1 to 16, will bring it
to a par with gold, Or 81 20 per ounce,
and England will make nothing by inn
porting bullion. The lower silver bull
lion is the more England imports; as
the price advances exports decrease.
In 1890 English merchants invested in
silver bullion and coined it into rupees
and every hundred invested produced
$40 in rupees.
In South America and the silver
using countries of Europe, silver is
coined as 1 of gold to 159 of silver, and
these silver dollars will buy as much
as a gold dollar.
You had unlimited coinage Of silver
and silver bullion rose to 129. Euro
pean silver dollars could not be ex-
ported to the United States without a
loss to the exporter of 2.74 cents on each
dollar, besides expenses. There is no
danger Of European silver being
dumped into the United States. The
unlimited coinage of silver will not
force gold to premium, but the re-
demption Of silver certificates in gold
will. If there was no discrimination
against silver this metal would be as
to Is. It is not the intention Of the
creditors to force a premium on gold
until the industrial classes have placed
themselves where they can advance
prices and depreciate the value of in
comes. When this is done they will
make gold a commodity by boarding it
and place a huge premium on it. They
have made it impossible to advance
prices by the insertion of the gold
clause in all bonds and mortgages, set
ting aside the legal tender quality of
the United States notes and silver GER
tiicates. Each nation is competing
with the other for gold to pay interest
on one hundred and fifty billion dol
lars of indebtedness, and the one that
will give the most of their produce gets
it. We must stop this competition for
gold and this can be done through an
improved sub-treasury and the CO.
operation Of each class fixing buying
price on their labor and produce.
No compromise on the unlimited
coinage of silver at the ratio Of to Is.
While standing for our rights on silver
let us keep our eyes on the main issue
of placing each class where they can
price their labor, be it of the head or
hands. JAMES MURDOCH.
-ASS
We have heard of people who had
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