The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1894-07-16

b"n' w. ". Rankin, of Gordon County,
Defines His Position.

From The Calhoun Times.
Edltor Times: | do not share the oninion
INDUCED in by many that demonstration
of silver is the sole cause of the business
depression, commercial stagnation and I'M
precedented hard times, but that it has con-
tributed very materially to the bringing
about of this state of affairs I think no
sane man will question. Has not the United
States absolute command of the situation.
so as at least to open her minis to the free
ana unlimited coinage of silver, without
detriment to her standing or credit abroad
and with real benefit to her interest at
home? BY compulsory coinage al a profit.
for speculation, the United States has
amaSsed enormous quantity of silver
Other nations till the closing of their mints
coined silver as legal tender at a ratio of
1872 to l. which is at 81. SO an ounce The
United States at a ratio of Is to l, SIS
an ounce.
Now. if the United States were to open
her mintS to coinage at 16 to /, there would
be no danger of other nations dumping on
her their silver in storage and coined at 49,
to l. This would depreciate their legal ten
der, and silver coined and in storage would
be disposed of at loss of cents an ounce.
Outside of the United States there are In
storage and coined at ratio of 1872 to /
$l.33 an ounce-about s., $50 000 600. The
United States has in storage and coined at
is to l-$1.29 an ounce-about $3.50. 600 600. OF
marketable silver not in storage, uncoined,
there are in the world between 700G0,000 and
100000 ounces. 1t is easy to perceive the
cause of the closing Of the minis of the
world outside the United States to the free
coinage of silver. 1t is not from fear of the
comparatively small amount, 900 $500
tons-Of silver out of coinage being dumped
upon them, but it is the immense mass
15,CC0 or 5000 tonS-in the vaults of the
United stored a
profit and for speculation, that they fear;
for the moment any foreign mint were to
open to the free coinage of silver at 1512
to | the vaults of the United States treasu-
ry would be unlocked and an avalanche of
silver would be dumped upon it at an addl-
tional profit of 4 cents ounce to the
United States which would ruin or swamp
not only one but all foreign mlntS haQ tleS
the temerity to open. In her financial pom
cy the United States is playing the part OIL
a pirate to the serious injury OF her own
commercial prosperity. and the growth ana
the welfare and interests of her tolllnS
millions. She can open hef mlItS 10 the
free coinage of silver at Ito to l, anu Will
coined, idle dollars stored in her vaults at
a profit buy every ounce OF outstandlng'
uncoined silver in the world, without tio
slightest danger of becoming the dumping
ground of all the silver in the Wollo' .oi
the reason, above stated, that no ha'loii
could or would consent to or permit oe
81 .333 an ounce, by sale of the same as bull
lion to the United States at $l.29 an ounce
a loss of cents
The world Mr.. Editor, is waking up to
tbe iniouitous scheming of money sharks
TO establish a single standard of values ana
the apprecia ton of that standard TO
point that will reduce the earnings OF aSrl-
crlturists and wage workers to the average
of coolies; and the compulsory coinage OF
silver bv the United States at profit has
aided and promoted this wicked scheme 10
the point of almost universal ruin. There
is dissa tisfaction and unrest throughout the
orld Governments must act, or the mad
dened millions will be beyond the control OF
government authority. The potentalty OF
silver as a money of final payment on an
equality with sold will have to be restored
Free coinage of silver must come, ana IL
governments. by agreement, do not reach
solution of the question, enough of the ma
tons of the earth interested in it will ally
themselves on that side and compel it. 1t
may not be without war, but free coinage,
at ratio of 151a to 1, if necessary, VIII
come. w. X. RANhlN.