The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-06-23
ELI GETS THERE.
He Talks to Tom Carter on the SUBJ
ject of Free Coinage.
From the Chicago Times-Herald.

From the Chicago Times-Herald.
New York. June 6-New York was star
tied this morning when the telegraph
flashed the fact that the Democratic party
of Illinois had gone unanimously for free
coinage. The boom arguments of the sill
yer miners have become the creed of
the western democracy. Coin and Hin
richsen and Altgeld and Weaver and Sib-
ley are on top-west Of Chicago. 1t is the
old greenback craze over again.
In the east no newspaper OF Importance
and no political party has espoused free
coinage. When a free silver man like
Thomas II. Carter comes on here from
Wyoming the bankers and the presidents
of the cotton, produce and stock ex-
changes, who handle $lO,OO0,OOOOOO a week,
ask a few simple questions and settle the
question. Mr.. Carter brought all his in
formation from the Helena silver mines
on the passenger train, but when he re-
turned to the west yesterday he took
freight.
What does the Rocky Mountain cOun-
try really want?" 1 asked Mr.. Carter, af-
ter he had finished his talk with EXPIRES
ident Harrison.
'They want absolute free coinage" he
said. I'VE want II fixed so that they can
take our silver to the mint and get dol
lars guaranteed by the government as
good as gold-16 to l."
What is silver worth now all over the
world?" l asked.
why, 80 to /. Thirty-two ounces of
silver is worth one ounce in gold"
Then free coinage would double the
value of all the silver in the world If it
ucceeded-wouldn't 1t, Mr.. Carter?" 1
asked.
"Of course it would"
How much silver is there in the world?"
I asked.
mo one knows" he said. 1.-THE last mint
report says the world has produced about
$1,000, 100000 worth of gold and $40 900, 100000
worth of silver"
How much of this $10OOO.OOO,OOO worth
of silver has been coined?" l asked.
THE United States mint reports say
81 O55. 100000 worth of silver and So, 435. $780,
600 worth of gold.' said Mr.. Carter.
"And free coinage. if successful, woul1
double the value of all the silver in the
world, you say?"
why. of course. If it didn't do that, il
wouldn't help the miner. We wouldn't
have to put gold under it, but just guar
antee it,
Now, Mr.. Carter" SAID chow much
gold has the United States got to guar
antee all this?'
"There is about $9O,OOo,OOO in the treas
ury."
but that is borrowed at per cent.
from England. We've got to pay 1t back
in gold. haven't we?"
"Why, of course"
Now" l said. do you think it would
be safe for a nation with S90,OOO.OOO worth
of borrowed gold in its treasury to try
to put gold under all the silver on this
earth? Would it be safe for 20, 100000 peo-
pie to try to double the value of all the
silver owned by 1,4OO,OOOOOO people?"
But they wouldn't send it here" said
Mr.. Carter.
They wouldn't? Why, Of course they
would. If you had any silver dollars worth
so cents in China, Mexico or South Amerl-
and get silver with gold under it-guaran-
teed by gold?"
We'll, perhaps I would said Mr.. Car
ter.
Now, Mr.. Carter" said, '1et us re-
turn to our own country. Who wants
more silver coined?" Isn't the country
flooded with silver now?"
why everyone wants 1t. There is too
little currency ahoat now"
well, let's see" said I, "how much sill
yer have we coined in this country"
why, S625, 100000 worth, and S626, 100000 in
gold"
How much of this silver is in circula-
tion?"
THE mint report says $56,443OOO," said
Mr.. Carter. glancing at the report.
And where is the rest?'
''Why. in the treasury
Yes 1 said; "$50S 600, 900 worth Of silver
lays corroding in the treasury. The people
don't want it. They have kicked it back