Alma record. (Alma, Mich.) 1878-1928, 1895-12-27
KANSAS CITY PAPER MIS-
QUOTES THE NEBRASKAN.
A sample of the Manner in which the
Pro- British Papers Arc Misrepresent-
Ing the American Policy-A Quid-
nunctlc Editor.


by mere legislative enactment, of doub-
ling the value of the 1900 millions Of
silver and the indefinite number of
thousand millions OF silver securities
which exist in the world and of the 200
millions of silver which annually comes
from the mines
Having quoted him. the editor adds:
Those are not the exact words which
he uses"
Well. we should say not. Ii the quid-
nunc who wrote the Star editorial lives
long enough to ever hear Mr.. Bryan
use the language thus cOolly placed in
his mouth. he will be so old that Me
thusalah would be a sucking babe by
comparison.
OF the $4,000, 900 900 of silver referred
to by the Star editor. more than one
half is in European and American coin.
Nearly every ounce of this is now al
par with gold. 1t is coined at ratios
ranging from 1895 to 1888 That is to
say, its value in the form Of coin is
from $1.29 to about S1.45 per ounce. in
gold.
Does the Star editor seriously believe
that free coinage of silver by the United
States at the rate of $l29 per ounce
involves the absurd necessity of doub-
ling the value OF this immense mass of
silver. more than three -fourthS of which
is already coined at a higher valuation
than our mint rate and all of which
is at par? If so, he must himself be
as simple as a sucking babe. AS for
the coins of silVer-using nations, their
cheapness is rather "a matter of book
keeping than of actual transfers or
sales East Indian, Chinese and Jap
anese coins are not sold as bullion in
the European markets. The movement
of silver is toward those countries-not
from them. In the settlement Of bal
ances between Europe and Asia. the
silver coins Of the latter are computed
at about 81 cents an ounce. Why? Be
cause silver bullion can De bought in
the European market It that rate But
how much is there OF such bullion? NO
one knows exactly, but compared with
the $4,000 0G0 goo in coin il is a mere
bagatelle Probably 0000 900 ounces
would cover the entire stock of silver
bullion in all tho markets Of Europe
and America. Lee the Rothschilds put
forth a sudden demand for 5000 900
ounces and up gocs The price a cent or
cents an ounce, and the commercial
rate of the rupee the Mexican dollar
and the coins of all purely silyer-stand-
ard countries rises pro rata. Would
not a demand" by the United States
be quite as potential as dem nd by
some private banking house? Suppose
the United States should stand ready to
buy ii all at 1929, could Rothschilds
get it for 67? Suppose, again, that the
United States says to every holder of
silver bullion. Bring it to the Arneri
can mint, have it coined at Sl29 per
ounce, and throughout the vast ex-
panse Of the American republic it shall
be money at that available for
the payment of debts and for the pur-
chase Of commodities and pysperty."
Could Rothschilds buy it for 60? Who
would be fool enough to scsl il TO him
for that price? Would the Star editor?
Would people who have remittances
to make to India or China stop buying
silver merely because our mint was open?
How else would they pay their debts
to those countries? They would have
to buy silver just as they do now, but
instead of getting it at SIC, they would
have to pay 81 % and thus help us sus-
tain our mint ratio
The moment silver bullion re- ches
s1.29 the commercial rate of the Next
can dollar is par. Does not the editor
OF the Star know that? Does he im-
agine that in order to raise the CONNER
cial value of the Mexican dollar aud the
coins of other silver-using countries,
we must go into those countries and buy
up the whole mass? The idea is ride
ulous The United States would only
have to stand ready to take and coin
the surplus
We have none of Mr.. Bryan's recent
speeches before us, but viii wager
smail-sized pumpkin against the head
of the Star editor. that Mr.. Bryan's
statement was in substance simply that
the United States could coin, absorb
and use the surplus Of silver remain
ing after the wants of other countries
had been supplied. aud hold it at par
ity with gold at 10 TO 1. Thus we would
fix the price of the surplus, and it is an
elementary principle Of Political econ
omy that the price of the surplus of
anything controls the price of the
whole
When the Star editor learns that the
surplus stock of bullion is the disturb
ing element, and that when we take
care of that surplus, silver coin every
where will once moro become standard
money, he will have made a very en-
couraging advance in knowledge OF
the subject He will then know that
he cannot dispose Of great economic
question by falsely ascribing such drivel
TO Mr.. Bryan, and then getting funny
over it.
The Benedict ArnoIds at Work
One of the leading A. Z. AS says that
SO 900 \. p. AS voted the republican
ticket in Kentucky. The Nashville
Tribune, an A. p. A. paper. although
for free silver. glories in the defeat OF