Mexico weekly ledger., 1895-05-23
Do VIZ Need More Silver Dollars?


To the Editor of the Ledger.
MEXICO, Mo-, May 1S.-DEAR SIR:
The question at issue is: Do we need
more silver dollars? Paper money and
small silver is another question. July 1,
1894, silver dollars coined 495 million,
silver dollars in circulation 81 million.
Statistical Abstract 1894, pages 81 and
2s. Congress appropriated in 1882
$4,000, in 1886 $4,000 to pay express
charges on silver. Page SO Coinage
Laws, 1894. AS they would not go ex-
press paid, Mr.. Bland invented one
and two dollar certificates. We can
have plenty of goldif we will, because
we have in circulation 495 million and
we produce 40 million annually.
The Treasury reserve was intact and
growing until the excess of silver and
silver paper undermined it. Custom
receipts were 95 per cent gold, 5 per
cent silver and silver paper; they are
5 per cent gold and 95 per cent silver
and silver paper. The silver men un-
dermined the gold reserve and cry
aloud when it is in danger. Aha!
where is your gold?
Coinage Laws 1894, pages 81 and 90:
Total silver dollars coined to 1850 231
million, to 1873 s million. Those coin
ed '60-73 eve went into circulation,
2A million total possible silver dollars
that could have been used as currency
in IS years, (1792 to 1850 hence be-
fore 1873, l think the American dollar
mot BANDS dollar was a useless and
unused coin; pa million dollars dis
tributed through SO years would make
but little impression. There are few
persons who ever saw an American
dollar, fewer who own one.
In 1857, to unity our coin current,
Spanish and Mexican pieces were
called in and recoined into small sill
yer; 10 million value small silver were
coined 1857 and 1858. This would fair
ly represent all the Spanish and Mex
lean silver current in the UnitedStates,
small coin and dollars.
After 1857 they ceased to be legal
tender. On the face of it, it must be
plain that debts of business, banks, real
estate, ETC., have not stood since be-
fore 1873. Three-fifths of the railroad
debt has been made since 1880. Public
debts mot NATIONALLY are usually made
for twenty years. The census of 1880
gives debts previous to 1860 and to
1880 one-half debt in 1880 was issued,
1878 to 1880 one-half matured on or
before 1895. The total debt in 1890 in
GLIDING that made 1880 to 1890 was
twelve millions more than total in
1880. SO that per capita debt in 1850
was s22.4o, in 1890 s1s.13. This as to
public debts, not national. The total
public debt, national and not national,
was less in 1890 than in 1850. The total
of all debts, public and private, is
necessarily estimated, and the esti-
mate colored by opinions, but the
total of all public and railroad debts is
known to be 1000 million in 1890. To
this add all private debts and you have
total debts of the United States You
win be alarmed il you think we are
under the thumb of a few bankers; If
you think we In a great. rich, free
people you will not be frightened.
The act of 1878 was before Congress
three years, printed six times, copies
sent in 1870 to coin experts for their
opinions. It was considered at FIVE SEES
sions of Congress. In 1871 Mr.. Kelley
an original but similar bill.
A silver dollar Of limited legal tender
was added and rejected, the trade dol
lar inserted with limited legal tender.
The omission OF the silver dollar was
clearly stated by the superintendent
Of the mint in tsNotes On Mint Bill