The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-07-24
FRANK N. STACY.
He Addresses the Hennepin County
Peoples Party League Last
Hight.
Eis Discussion Of the Silver Question Is
Listened to With Great
Interest,

F. NJ Stacy delivered an address on
silver coinage before the Hennepin coun-
ty Peoples Party league, at SO5 Henne-
pin avenue, last evening.
Mr.. Stacy said that one of the main
arguments of the gold men, and one
which is sprung when all others fall is
that the silver of the world would be
dumped upon us in case we allowed the
free coinage of silver at IL to /.
Tin the first place, where is the silver
to come from that is to be dumped upon
us? OF the $4,000, 0O0, 900 of silver in the
world, 1925, 900, 900 are now in the United
States, $3.50, 100000 are in India, $750,00O,-
600 are ir China, SIS, 000,0 900 are in Japan,
and $115 300 900 are in the Straits settle
ments, and this is over 60 per cent Of the
whole. But all the silver that ever went
into the Orient has stayed there. Silver
is their money. 1t is to them what gold
is to Europe India and China are not
in the silver dumping business. All the
silver they can get they keep. They have
never dumped silver on each other or on
other free coinage countries yet, and 1t
Is safe to say they never will They are
not in the business of dumping upon 9TH
er countries the coin of their own realm
and the mainstay of their commercial
existence.
Europe. all told, has something over
81 900 100000 of silver. But who is going
to go about among the people and col
lect and pay for that silver, and melt it
into the required standard bars for the
purpose of dumping it at the American
minis? If Europe should do it's worst,
1t could only add about s14 to our per
capita circulation; and with this $1,000,-
100000 of silver it might buy 10 per cent
kC nr Ia To
surplus. But Europe's silver Is not in
the shape of bullion; it is in the shape
of coin. That coin is already worth face
value in Europe. Indeed, it's present coin
value in Europe is greater than 16 to l.
The SIP, 000,0 900 Of limited tender silver
In the United Kingdom is coined at the
ration of 1412 to l. This would make it's
face value over $1.35 per ounce. The face
value at Is to l. as asked for in the Unit
ed States would make the silver in the
coin worth $1.29 per ounce, or cents less
than 1t is already worth in England
Does any one imagine that the English
people are going to collect their silver
coin, melt it, and pay the costs of ship
ment to this country and then get cents
an ounce less than they are getting now?
France has $434 900 of full tender
silver coined at ratio Of 15R to /. This
would make the silver coin of France
worth cents an ounce more than the 1t
to ! price in this country. Are French
iHNeStOTS going W cOlleCl anu IlGll Tie
alloy out of the coin of France, pay the
commissions and costs of shipment, in
surance and handling and then get three
cents an ounce less for their bullion than
the coin is worth now?
Germany has s215 100000 of silver coin
ed at a ratio of IA to / +; and therefore now
worth over 81 So an ounce. Who in Ger
many is going to dump this silver on the
United States al a dead loss of SIC, 900 900
in addition to the heavy costs of collec-
ton and melting into the required stand
ard American bars'