Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-09-30

OF me committee. 1t il tho, 49,
,.ons may no longer dwell ar,or,. ~
Is tnat the strife may cease and
smat sheteneinlties Of the cannai,, -
IN" Years ago may be forgotten In
fhat q, W, democratic party and
d dt. az may entertain their own IN
ulNluaui views am no. -.
70 press my OWE peculiar vieres
hhoW thnt the great inteIlieen, hrood
neau ana honest heart OF this cnn,,,,,1
.lon nave views on this question disrar
noin mine and so I was honest
s.ts iiH ~, tor myself, you think Tor Your
sen, We are here for onr cn,,,,t,.4..
sood and tell you he is ne hsst ~,
perat ana the best patriot who IL WI
nb 70 make the greatest fnersn,,I
sacrlIlees 10 uphold the nnitv ~ III
partV and honor' Thus. ntr,n,r,oin,
py party declaration and I'M ~ NJ
oMn Judgment. It Is inconeeiynbln 10
ls nov any sincere advocate 81 the
al, ,.st' use and coinage OF silver
IN INSIST upon a change Of ratio now
W me act OF April 2. 1889 nnnfress
estapnshed the ratio OF 10 10 mo
uct providing that the pronorftonsi
Naiue or gold to silver IN iii coIrs
Mhlch shall by law be current ne
money In the United States shall he ne
70 !, according to quantity in sirht.
or pure gold or pure silver. INT =,
TO say, every fifteen hounds veteh, -
pure silver shall be OF equal value in
az payments with one pound weight
OF pure gold and 80 In PROMOTION ne
any greater or less quantity az the ra-
specuve metals" BY the act OF Juiy
81, 1854, and January H. 1897. the ratio
LOT SILVER dollars was changed to | TO
io'sss' or as 1t Is popularity known,
70 10 rms is the present legal ratio
and standard dollars are now heinz
coined at the ratio OF SIPS 900 ner month
at mat ratio from silver bullion pur-
chased under the Sherman law with
our suggestion of the cxpediency OF a
change in the ratio from the adrninis-
tration or any person charged with the
execution OF the coinage laws. Trn-
der such circumstances the constant
denunointion Of the present ratio in
IeNas passes my comprehension. To
change the ratio would require roeoin-
age or all the silver now IN clrcula-
tlon. A proposition TO change II was
made In congress In 1893 and in rnply
70 an inquiry by the senate committee
on finance, Secretary Carlisle estimated
the cost OF rccoinago at tho cnormous
sum of Sli2,S6Gs2l In a letter to the
committee, which l Will read YOU. and
| which Is not susceptible OF any other
construction that that such a policy Is
unwise:
Treasury Department. onlcc OF the
Secretary Washington, d. c., Aug.
ny, lks5.-Hon. Daniel w Voorhees,.
United states senate; Slr-Reforing to
our conversation relative to the prob-
able cost incident to the change from
the present coming ratio between gold
and silver q TO Is for standard silver
dollars and to 14.95 for subsidiary sil-
Ner), to ratio Of j to 20. you are re-
spectfully Informed that the number
OF silver dollars coined since 1873 ag-
gresates 4l9-s32,45O Without any all
low FOR abrasion and loss Incident to
melting the same, the coinage value
OF these dollars at a ratio Of / to 20
| would be S33222. 1853. or SS6,fi0.2sg less
than their present face value. To re-
coin these dollars at the ratio Of to
90 would require the addition OF 81
$4,000 ounces Of new bullion, which at
the average price paid for silver un-
der the act OF July a. 1890, SO Ia cents,
would cost $40, $50. 700.
In addition to this. I estimate that
| there would be a loss from abrasion
| and In the melting OF at least $1,000. :
600. which amounts, together with the
| difference In the face value OF the
com tSsb, ll0,2Ss), which would have to
be reimbursed TO the treasury By an
| APPROPRIATION for that purpose. from
the fact that the silver dollars are dis
tributed throughout the country. IL
would be necessary as they are re-
deemed ut the several subtreasurles to
transport them to the minis. and the
expense for transportation Of $500. OO0.-
600. the amount outside OF the stock an
hand at the subtreasuries and minis
az Philadelphia, San Francisco and
New Orleans, would average at least
l IL per cent or $4,000. 900
i therefore estimate the cost Of coin
ing the silver dollars already coined
as foilows; New bullion to be added.
sos 200; loss by abrasion and melt
ing S3,000.000; cost OF coinage Qabor.
materials, etc), S6,29O0OO: copper FOR
alloy, S6S, 200; transportation for doll
lars TO mint, 1880, 600; total, S29. IA. 900.
The stock OF subsidiary coin in
the country is estimated at S77 900, 900.
which at full weight would contain
53.699,S75 ounces Of fine silver This
amount at a ratio OF to 20 would
coin sos, $40. 500, or S2i. 15S, 1875 less than
the present face value. To recon ST.
100000 of subsidiary silver into an
equal amount Of fractional coin, at a
ratio Of TO 90 would require the ad-
dition OF siS797O25 fine ounces which
at % Ia cents per nne ounce, the aver
age price paid for silver under the
act Of July IA, 1880, would cost Sl7.-
52S,7s5
There would be loss OF about Ia
per cent. By abrasion from the face
l Nhluts VI MUM eAH--tfNo'F NRhAii
therefore, estimate the cost OF reeoin-
ing the subsidiary silver in the coun-
try at ratio Of to 20. as follows
| New bullion. S1l52s, 1855; loss by abra-
sion. 81. 900; cost Of coinage Qabor.
material, etc), s2,5O0,0O0; copper for al
10y. Sl5,6SG; cost of transportation. ST.
155 900: totals. s23,12i,i2i. Recapitula-
ton: estimated cost OF recoining sill
yer dollars, 1914 900; estimated cost
OF recoining subsidiary silver, S2S.l
42l; total, S1i2, 500, s2i. Very respectfully,
]. G. CARLISLE. Secy.
independently OF this great cost there
are other considerations leading 10 the
same conclusion. All the advocates
Of substitute ratio demand an IN
crease and insist that more silver be
mi in the dollar They do SO profess
edlv as friends OF silver and 10 reach
a common ratio with other silver using
nations by which the relative bullion
value Of gold and silver can be pernla.'
nently fixed and preserved, yet suen
4 poilcv viii accomplish neither PUT,
nose. on the contrary, the cause o.
silver would be still further empar'
rassed and impeded, and the charg.
| that the silver dollar Us unsuited IYi
c,rculation encouraged by the increas'
ed weight and bulk. Among the e9n Gun
tries that use silver, In France ser
gjum switzerland, Greece, spain Sup9
Hayu the South and Central Amefi'
can stutes and Russia. the rhuo y