The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-04-28

lamentable condition. And again, 1t must
be remembered that 50 per cent OF our
commerce and business is among our
selves. The per cent We transact with
the outside world is divided between silver
nations and monometallic nations Our
relations with silver using countries would
probably be made somewhat closer. and
our commerce in that direction increased.
l do not apprehend that our trade with
monometallic countries would be sensibly
diminished. They-or others-buy from
us nothing they do not need. and they
only pay for what they get, the prices
which the supply on the one hand, and
the demand on the other, fixes.
The monometaIlists seem 10 think. at
least they say, that il we adopt the policy
of the free coinage of silver at the ratio
of Is to l then by some kind of financial
legerdemain the Europeans are going TO
be able to get our wheat and cotton for
even less than they do now. l do not
think sensible men are to be frightened
by any such bugaboo. From 1871 10 1876
we had only a deprecated paper cur
rency, and yet the Europeans were OBJ
liged TO pay full and adequate prices for
all they took from US. The monometel-
lists also say that the European capital
lists will buy silver in Europe for 30 cents
per ounce and bring ii over here and
ducts with it. .
L think they reckon without due con-
sderation of the most important factor
in the problem. After nation OF 6o,UO-
600 people, the greatest producing nation
in the world, has remonetiZed silver, silver
cannot be bought in any market for 10
cents an ounce After reconciliation 3l1i.
grains of pure silver will pay dollar OF
debt and buy a dollar of produce in Amer
lea, and then STA grains OF silver VIII be
worth dollar in gold in London, Frank
fort or Paris.
The monometallsts also think-or say
that the Europeans will buy silver at
20 cents per ounce and have il coined by
us into dollars, and then take our gold
dollars away and leave the silver. They
cannot get our gold much more rapidly
than they have lately under the famous
monometallic policy of the present admin
istration. Now they are able. about
every ninety days, TO take sloo,coo,0oO of
gold out of the treasury at profit OF
from ID to 20 per cent.
a sufficient answer to the suggestion
that all gold would leave us in case We
coin silver dollars at a ratio of 10 to l
to gold is that our present system doesn't
prevent our gold from going; therefore
the suggestion ought not TO brighten US.
The present trouble grows out OF the OPP
portunity which is always offered under
a gold monometallic system TO bankers.
They see the chance to make money out
of the situation and they do il.
But think there is still better answer
to their threat of a gold famine conse-
Quent upon the coinage of silver, and /
have already in part suggested it. There
is not a surplus of coin metal in the
world. There are no great stocks of sill
yer on hand ready to be rushed to the
mints. Such silver as has been mined
has been put to use The demand for ii
which will follow from free coinge, and
the value which will be given to it by its
adoption as legal tender by the greatest
producing and most resourceful nation of
the world, will put silver on par in
Europe, just as here. The probability.
too, is that other nations will promptly
follow our example, from necessity. They
are already calling for international con-
ferences upon the subject. France is
strongly inclined to remonetize silver,
and has already suggested that II would
open its minis to silver if We would.
There is in England a very decided and
growing sentiment in favor of silver. The
thinkers there are all with the move
ment; the debt-holders there. as here, are
against it.