The herald., 1895-06-30
Mr.. OLD COIN DREAMS
In Fact He Has a Nightmare, Q
Regular 81 to | Affair
SAW OSBORNE'S WIND SHUT OFF
And Several Other TrifIng Things Happen,
Such as SibIey Elected President
and Armour Bankrupt

puDllSueu june 5J1, relateu uOW uau
planned to get rich by trading gold for
silver and silver coin for gold coin, when
the new free silver coinage law should
60 into effect, and how while SO plan
ming fell asleep and dreamed that the
law had been passed and also dreamed of
some things that had happened after 1t
had passed. And as had hinted that 1
would tell you about that dream, you
were kind enough to say you would print
what 1 would write about it. This is
what I dreamed:
1t seemed to me that the silver sent-
ment spread very rapidly at first in 1895
until after the fall elections. and so far
as could be ascertained from those cleo
tions the west and south were principally
in favor of silver. All political PARTIES
in those regions in their conventions and
by their votes, with few exceptions,
declared in favor of silver. Times we're
pretty hard, though they seemed to be on
the mend, and as they got little easier.
some silver men became less pronounced
IN their views. Soon after the fall cleo
tions times became better very rapidly,
and the silver movement lost enthusi-
asm, because, after all, what we silver
men want is to do away with hard times.
to3 pay our debts in cheaper dollars.
However that may be, we who had the
silver interest at heart lost heart as we
vainly beheld the attendance at our meet
ings dwindle, the newspapers turn their
attention to other things, and the third
installment of Coins financial series on
the book shelves uncaled for. The most
painful thing of all was to see the edito-
rial columns of the Express. We had
hoped that Osborne would stand by us,
but he explained at one of our committee
meetings that ne found that editorials on
the silver question contlicted with the
business end of the paper, and ne had to
write about something else or 60 out of
business.
The national conventions were held in
June. The Popullsts remained for free
silver; the Republicans adopted an am
biguous plank; IN the Democratic conven-
tion the matter never got past the COM
mittee. The free silver party held con-
vention, but after very little enthusiasm
Sibley was nominated for president. The
Republican and Democratic conventions
took opposite positions on the tariff,
which seemed to be the prominent issue
before the .people. In this matter the
the prosperity that had then set in was
due to the present Democratic tariff bill.
AS the presidential election approached
pools sold at about 100 to so in favor of
the Democrats. The silver party was al
most an unknown factor until the latter
part OF August, when the unexpected
happened. Armour of Chicago failed.
1t had been known that Tor eight months
previous he had jumped into the widest
speculation schemes. At orce the public
were informed by an eminent specialist
of mental diseases that Armour had been
suffering:from partial brain paralysis.
Bank after bank suspended payment.
The crisis involved Lthe civilized world.
Gold and silver countries were alike in
volved, nevertheless such reaction oc-
Cured in favor of the silver party that
the issue was no longer in doubt. The
crisis itself lasted but two months, but
the recovery was too late to stay the tide
in favor of the silver party and Slbley
was eleed president.
cannot describe the wild scenes of re-
joicing chat occurred. The day after cleo
tion l own was as excited as the rest.
across the five silver dollars that had
laid away for my speculation. 1t is true
that the anticipated free silver bill had
not been passed. but l always believe in
taking time by the forelock. l took the
five silver dollars down to the First Ma
tional bank and asked Mr.. J. M. Elliott if
he would be kind enough to give me a IS
gold piece for them. Mr.. Elliott is a cour-
teous man. He said: 81 would be glad
to oblige you, but gold coin is not to be
had. Ever since it was believed that Sib-
ley would be electeassgold coin has been
boarded, and is row being exported in
tremendous quantities. Some OF it is used
in purchases abroad; some of it in ex-
change for silver at the bullion value of
32 to l."
); "But Mr.. Elliott" said, "that last is
what | wanted to do with that IS gold
piece"
Mr.. Elliott smiled at my innocence and
eaid iS
trying to do"
I tried at several other places to make
the same exchange, but failed. Finally L
found farmer who had just come in town
and who belonged to the Bimetalllc
league of Los Angeles. When l had pe-
come acquainted with him l told him
that my purse was too small to carry sill
YER and asked himJif he would:give me a
gold piece instead knew he would do it,
because 1 had heard him argue that un-
der free coinage of both gold and silver
the two would be at par. He looked
me and said: Certainly" giving me
$5 gold piece for the silver, and the first
step towards accumulatlng my fortune
had beel made.
1t was a mean trick on my part, but l
was desperate-even then hardly think
l would have done such thing outside
of dream.
Then it occurred to me that by the time
I had traded my gold for $40 worth of
silver and got the silver coineu into ten
silver dollars it would be almost impossi-
BILE to hnd anyone innocent enough, if he
had $40 gold piece, to give.it to me for
the ten silver dollars. Thus ended my
first and last hope of making fortune,
and in my dream it seemed to me that I
realized one thing at least, and that is
that when gold and silver are actually |
worth 80 to 1 no government can make |
people exchange one for the ohter at 16 |
to under free coinage Jaw for both.
Just here my dream seemed to grow |
confused. Everything in the commercial |
world became topsy turvy. Nobody |
seemed to know what prices were, where |
money could be borrowed, what enter |
prises to engage in. Gold money had dis |
appeared. Silver money could not take |
its place because we were still under a |
limited coinage law. The world seemed |
to have become a world of chance as it |
was in the dream of Hofed, that l had |
read when q child at school. And as |
soon as l can get this part of my dream |
Strengthened out will tell you something
more about it. AS ever,
OLD COIN.