The Hocking sentinel. [volume] (Logan, Ohio) 1871-1906, 1895-05-09

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that the annual production of silver il
the world in the last quarter
of a century has quadrupled,
and nearly every country in the
world has stopped coming it. Free
and unlimited coinage of silver at q
ratio of 16 to 1 should not now be
authorized in the L. S. 1t means
that the mints of the Z. S. shall be
open to the free coinage, not only of
the silver bullion brought to them
from any part of the U. S, but the
silver bullion brought from any other
country in the world, and that the
bullion shall be coined so that l6
ounces ofsilver shall be
EQUAL TO ONE OUNCE OF GOLD,
And the actual ratio to-day, accord
ing to the market value, is 80 ounces
OF silver equal to one ounce of gold.
/ believe our legislation should tend
to the employment Of both gold and
silver, and ] will welcome the free
and unlimited coinage of silver when
we can have it on safe and proper
terms, but | cannot favor it now.
The silver in the American dollar is
now worth about so cents, 1t will
richly pay any man to transport his
bullion to the U. S. from any part Of
the world, if he could get legal ten
der dollar for every half dollars
worth Of silver bullion he carried to
the mint.
"Free and unlimited coinage will
not put money into the pockets of the
people, for silver mine owners nor
the Secretary of the Treasury will
not pay out money except to those
who earn it or furnish something for
it. The silver mine owners are the
persons who will be benefited by the
free coinage of silver at the ratio of
IS to l, for they will get $1,000 for
$500 worth of silver bullion. In
1893 three territories and four states,
with little over 100000 of people,
produced about 5S,000,000 ounces of
silver bullion, the coinage value of
which was about S70,000,000, Free
coinage Of silver would enable them
to make nearly 100 per cent on their
product, while the producers OF corn,
cotton, wheat, tobacco and other
farm products would make with diff
Guilty only 4 or 8 per cent on their
products.
''Our foreign commerce aggregates
hundreds of millions Of dollars per
annum, and this commerce has to be
carried on with
MONEY AS GOOD AS GOLD.
1T is easy, therefore, to see the
effect OF the free and unlimited coin
age Of silver on our great commercial
interests, especially if our gold coin
should go out of circulation, Those
who desire free ana unlimited coin
age of silver at ratio of 16 to 1
should think Of its effect in drawing
the main part OF the silver fthe world
to our mints. to be coined, and by
driving out of our country Or out Of
circulation sG00,000,000 Of gold.
They should think also of the proba-
bility of contracting the volume of
our currency to nearly one half, and
bringing our country to silver basis,
as in Mexico, where the silver dollar
has declined to its bullion value Of
80 cents.
"The prosperity of the country is
not regulated alone by the amount of
money in circulation. There should
be plenty of money to meet the de-
mands of business and trade and pros
perity, but superabundance Of money
does not make prosperity or increase
the price of commodities. In France
the per capita Of circulation is at
present S37, while in England the
per capita of circulation is only $40,
yet there is practically no difference
in the prices of the same commodities
in those countries. In France the
per capita Of circulation is S15 more
than in the U. S. In France the
prices OF commodities are not so high
as in our country. The wages Of
labor are not so great, and agricu!-
tural products do not sell as high in
France as in the L. S.
"We now have larger volume
of money in the Z. S. than
ANY OTHER NATION ON EARTH,
Amounting, according to the last re-
port of the Secretary Of the Treasu-
ry, to 51,672, 100000. France
stands next with 81, ,4O6, 100000;
Germany has s918, 100000 and
Great Britain $500, 900, 900. In
1878 there were 100000 of stan
dard silver dollars in the U. S.; now
there are 424, 100000 of standard