The Black range. (Robinson, Socorro County, N.M.) 1882-1897, 1895-10-18

wheat To awiden their uses" Is 10
make them cheaper 10 increase the
demand for them is to lower their
prieel Did snybodY outside Of the
neighboFhood of Wall street ever hear
OF such Feesons7 Did anybody, except
the editor of the Financial Chronicle,
ever have the hardihood to put such
nonsense into pFint7
This is enough to show the ridicu-
lous nature of the Financial Chron-
icle's answers to the blunt. practical
questions put to it by Mr.. Raoul. We
nov come to a much more important
admission that the editor of the Finan-
cial Chronicle has been compelled to
make. Question No. 2, as put by Mr..
Raoul, is in this form: "When we see
that the price Of silver has fallen in
stantly with every legislative act
limiting its use, notably and lastly,
the closing of the Indian minis, upon
what theory do you predict its future
fall upon legislative enactment en-
larging its use9'
The reply of the Financial Chronicle,
remarkable as it may seem, is that.
while we are on a gold basis, and orr
minis open to the free coinage of gold,
yet all the gold afioat does not go TO
the mint" and that ~'silver bullion
will be turned into dollars in obedience
to the same principles and influences
that gold is now, and only when the
owner of the bullion finds that to be
the Tor profitable way of ~disposing
of his product" Continuing, the editor
Of the Financial Chronicle squirms in
this wise:
"Does any one imagine that with the
price of silver in gold one-eighth of a
cent or any smaller fraction higher, in
relation to commodities, than silver
dollars r the minis would get the
bullion for coinage? Or take the mon
etary conditions as they rule to-day.
Currency is a drug. If the country
was on a silver basis there would be
no demand for more silver dollars. In
that case prices of commodities would
rise in silver and silver bullion would
decline in gold just as fast as bullion
was carried to the mint to be turned
into dollars. Indeed, silver in large
amounts would never be pressed for
coinage unless a need for dollars ex-
listed, because when there was no need
silver would in the nature OF things,
command a better price in bullion than
in dollars; and if the coinage did not
stop whenever that need was oversup-
piled the values of commodities in the
United States would rise in silver and
the gold price of the bullion in London
would correspondingly or to q greater
degree decline"
We find in the foregoing that there
would be no "deluge" of silver at the
minis. On the contrary, we find the
remarkable statement set forth that
unless Q need for dollars existed, silver
in large amounts would never be
pressed for coinage. But most remark
able of all, we find it stated the price
of silver bullion would rise above the
mint ratio, and at the same time de-
cline in London.
This remarkable essay, be it remem-
bered, comes from the most intelligent
organs of the gold-bugs. 1t is put forth
with apparent reluctance, but it is to
be supposed that the editor is prepared
TO stand by it. Without intending it,
perhaps, the Financial Chronicle digs
the ground from under all the single
standard arguments, and evades where
he does not admit, the arguments of
the bimetallists. Mr.. Raoul, having
pressed his questions, the Financial
Chronicle could do no less than answer
them, and the result is q hodge-podge
Of evasion and admission that will
cause a thrill of horror to run up and
down the cultured backbone of Horace
White.
After this display we think the advo-
Gates of free coinage ought to press
their campaign in the north and east.
Atlanta Constitution.