The Louisiana populist. [volume] (Natchitoches, Natchitoches Parish, La.) 1894-1898, 1894-09-21
There els no free Country Unless the People Rule.
Just for Information.

Just for Information.
| On August 2Sth, 1898, three of
the ten Populists in the House vo-
ted with the Republicans against
the free and unlimited coinage OF
siIrer at the ratio of Il to I, and
seven, headed by Pence and Simp-
son. sat in their seats and declined
to Observation-Disclosures Enterprise.
The only fault we find with the
Populists is that they did not all
vote against it, but they knew the
| Democrats had no idea of passing
it any way. 1t would have result
ed in the withdrawal of a vast sum
of silver coin from circulation, in
addition, it would have cost an i'm
mense sum to recon the then out
standing coin which would have been
necessary under any change of ra-
ito from 16 to 1. We publish be-
low letter from Mr.. Carlisle on
the subject, which fully explains
itself
| Senator VOORHEES, during his speech on
the tinnacial question in the Senate on
Tuesday read the following letter from
Secretary Carlisle to show the difficult
| ties in the way of the free coinage of
silver at changed ratio:
| TREASURY DEPARTMENT OF THE SEC
RETARN, WAsHINGToN, ID. C., Aug. 10
Hon. Daniel W. Voorhees,, United States
Senate SIR: Referring to our conver-
sation relative to the probable cost Incl
dent to the change from the present
coming ratio between gold and silver Il
to IL for a standard silver dollar, and
20 IA 95 for subsidiary silver To ratio of
l TO 20, you are respectfully informed
that the number OF silver dollars coined
since 1873 aggregated 419, 1872, 450. With
out any allowance for abrasion and loss
incident to melting the same the coin
ing value of these dollars at a ratio of
to 20 would be 1888, 222, 1862, or s34, 10 22S
less than their present face value. To
recoin these dollars at ratio of 1 to 20
would require the addition of 81, ,367. 700
ounces of new bullion, which at the
average price paid for silver, under the
act of July IA, 1890, 93f cents, would
cost s75, SS3, 700 In addition to this es-
innate that there would be loss from
abrasion and in the melting of these dol
lars of at least 80, 600, 900, which amount
together with the difference in the face
value of the coins SS4, 110, 22S) would
have to be reimbursed to the Treasury
by an appropriation for that purpose
From the fact that the silver dollars
are distributed throughout the country
it would be necessary, as they are re-
deemed at the several subtreasuries, to
transport them to the mints, and the ex-
pense of transportation for $500, 600, 000
the amount outside of the stock now on
hand at the subtreasuries and mints at
Philadelphia, San Francisco, and New
Orleans, would average at least II per
cent, or S4,500, 900. j therefore esti-
mate the cost of recoining the silver dol
lars already coined as follows:
Net bullion to be added. .s75, ,sS3, 700
Loss by abrasion and melting 5000, 600
Cost of coinage labor, materi-
| ais. etc. Observation-Disclosures. q, 290, 600
Copper for alloy oy.. 6S,2OO
Transportation of dollars to
mlnts. s........... 4,oOO,OUO
Total. .SS9, ,gO0
The stock OF subsidiary silver coin in
this country is estimated at $1,000, 900,
which at full weight would contain 55,-
699,S7 ounces of fine silver. This
amount at a ratio of TO 90 would coin
s55. S43, sO2 or s21, 156, 1913 less than the
present face value. To recoin 81. 000,-
900 of subsidiary silver into an equal
amount of fractional coin at ratio of
| l to 20 would require the addition of 49,,
| 797. 625 fine ounces, which at 93t cents
per fine ounce, the average price paid
for silver under the act of July 13, 1890,
would cost S17, 52S,7S5. There would be
a loss of about ~ per cent by abrasion
| from the face value, or about 81. 925, 900.
| would therefore estimate the cost of
recoining the subsidiary silver in the
country at a ratio of to 20 as follows
New bullion s17, ,52s, 1856
Loss by abrasion 1895, 900
Cost of coinage labor, mate
rials. etc). $500, 600
Copper for alloy 1886
Cost of transportation 1,155, 600
Total s23, l24, 42l
RECAPITULATION
Estimated cost OF recolning
silver dollars s89, TAI, 900
Estimated cost of recoining
subsidiary silver 23,124, ,421
Total sl12, ,sss, 1921
Very Respectfully.
j. g. CARLISLE,
Secretary.
DEMOCRATIC PRAYER.
No. XI.
Oh, Grover, most adorable mas
ter: Thou who canst do no wrong.