Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1893-08-24

4 cent message TO Congress. respecting
I this same subject, said: undoubtedly
( the monthly purchases ., the Govern
menr. of 4.5OO.0O0 ounces OF silver, en-
/ forced under that statut-. we're regard
I'd by those interes ed i'm silver produc.
/ ton rs a eerasin guarantee of lis in
! crease in price. The result, however,
4 has been entirely different for. immed
\ late y following a spaSmodlc and sight
rise. the price of silver began to fall
after the passage of the act, and has
since reached the lowest point ever
known. I his disappointing result has
| led To renewed and persistent efforts in
the direction OF free silver coinsge
In his message to Congress Dec. 9th,
1885, President Cle,elsnd pointed out
that from Feb. 1878 to Dec 1885, 2l5..
759 43I silver dollars had been coined
under the Bland act. and that of that
amount only about so, 600 600 of them
had found their way into circulation,
while more than los, 000,0 600 of them
were still in the hands of the govern
ment and had caused the spending of
C, nsiderable amount OF money to con-
struct vaults in which to store them.
! In President HarIison's message to
Congress Dec. 3rd, 1889, he s a ed, that
| down to Nov. LIST, 1889, there had been
coined 343. 6SS, 001 silver dollars, of
which only 60 098, $50 were in circu a
| lion. (only an increase of about 10 000,-
/ 600 in four montbs,) aving in the
! Treasury vaults 2S3, $50 52l of them, or
an increase in the vaults OF 11S, 539, 521,
in tour wears. OF the amount in the
vaults 277. 1914 were represented
1 by silver certifica es issued and in cir
culation. and 6. 219,577 were neilherin
circulation, nor represented bv silver
ce, titicates. There were coiHed in the
! fiscal year ending June 30th. 1891, when
! the maj datory cuinsge of The silver
dollar ceased SO, 232, SOP standard silver
dol ars From Nov LIST 1889, to June
30ih, 1890, / have not the figur of the
coir age at hand But IS the total
coinage OF standard silver dollsrs from
1873 to June 30lh 1891 was 397. 59S $50,
and Sac, GAS 00l of them had been
coined before Nov LIST, 1888 and 80
232 500 of them between June 30th,
| 1890, and June 30th. 1891, making TO
gether $40, $50 803, there remains IL
| us. 027. TO represent the coinage from
/
| From Aug 18th, 1890. to June 3Oth.
1891, the U. S. bought under the Sher-
man act, 4S,393,11 ounces of silver
bullion, and issued in exchange for it
Treasury notes to the amount of $780,
577. ASS. In Dec. 1891, President Har-
rison pointed out that we were "buylng
and putting aside annually $4,000, 900
ounces OF lver." That the total pro-
duct of our mines was but 81, 500, 900
ounces inei89p4 That at the same rats
of pr Rfuction the u. S. under that law,
would take and put aside the total pro-
duct of t ie miIos except half million
ounces per ear. 1hatit WIS estimated
that we used annually about 7.140, QUO
ounces of new silver IN the arts, and
that in the last fiscal year our imports
OF silver had excelled our exports for
the first time IN recent years and that
the am nut Of that excess was the sum
of 81, 745, 1865.
1t seems, from the above figures that
it has found much easier to buy
liver built n and to coin standard dol
lars than to ge people to take tn, m.
And it seems also to be true, that no
III after how loudly silver atesmen"
and silver producers clsm n tor the
dollar of our father" they prefer that
OF Ell S shall take~them. The, will mot,
81 long as they can get anything that
IS better, more yalu tile or mere con-
vtnient.
While the regoing facts and figures
cannot be de led, nor can it be denied
that the silver legiSla' ion b so far
| tailed {, lestore l'er 10 ratio of !
to 10 W tn gold, or to any of its former
ratios. in spite of ths confident declar-
ations of the silver men that il would
do % they IRE quite sure now that
that is needed o accomplish that end,
is to Ike tie coinage sil, er en- rely
| ee, which means. that every mao
pos es>ing silver bul ion may take it t.
the mints. md pay ng the mint harges,
| have it c, ined in o SILVER dol ars con
tam ne 37li graf OF pore silver and
/ AL grains ot allO>, we Ching when
ined 4l2J grains an have it .tamped
''Oue doll r ant have the ri hit to
/ pay [ to hi creditor, a. a legt, tende
/ dollar and thcreup IN it wi ! magicallv
/ b Come Il do lar equal in Purchasing
( pow. / TO 60 Il dollar IN ne M rkets
o the Wort, a though the mat.Iias f
which If is composed its value rs bIl
/ lion +, those sam ma X U.s. il to-day
S than 60 cents.
But VIII be rcpet ton that ON
silver dollar. al o. Z ml lions them
10 the Treasury vaults re today lega
tend Z aud it is not easv t, see. why
pc Pile who viii not ttks them now,
eX cpt ~ small amounts, just as they
Ittke subsidiary liver, Id be willing
to take them then. unless they had to
And al !, precisely what would zap
pen. II the silver ,tatcsms n could have
The way. the people wo i'd have to
take them, there would be no gold dol
lar 10 get Instead Of bi-met tlism
which tbos who are clamoring for FREE
81 yer profess to want. we would have
mo-. netalism, and that single metal
woul be silver No one would pay
ont a I'D dollar 20 long ss he could
obtain silver one to paw out. for the
simple reason that with his gold dol
lar he could buy 8 the markets of the
world nearly as many goods, as with
two silver dollars. He could even buy
IN Mexico or other silver PRODUCING