Walker Lake bulletin. (Hawthorne, Nev.) 1883-1926, 1895-02-20

Against which we
Exported silver bullion, net. -. 23,19s,252
Leaving the balance ......... 7o,459, 729 |
Excess of gold exports over i'm
norris .sS7, SOC 463 |
DeductinQ what we owed 80. 10, 459, 729 |
Leaves 17,046, 1874
Gold sent abroad for other purposes.
This includes money spent abroad
by our tourists, interest due on
bonds. dividends on stocks, etc, af-
ter paying which there would be
mighty little for the foreign govern
ments to add to their stock.
1t therefore does not follow that
the continuation of the Sherman
purchase law will or does drain the
Treasury of gold, consequently no
issue of bonds is necessary to put
gold into the Treasury, and the train
OF attendent evils mentioned does
not follow. Again, apparently the
President oveflooks the fact that
during the last thirty days the tide
of gold has turned in our favor about
s15, 900, 900, with the Sherman law
still in operation
Fifth, he argues In favor OF monetary
conference, and states that our government
cannot make its fiat equivalent to intrinsic
value--which has caused lack OF confidence
and business troubles.
We have tried the monetary con-
ference proposition number Of
times, and it has always resulted in
failure, and always will, for England
will never agree to give up it's hold
on this country SO long as she has a
voice in the matter.
AS TO the proposition that our
government cannot make its legal
tender stamp good, take the green
back, the total issue of which is
s346, 6S1, DIG; all these have behind
them is the legal tender quality given
them by the government and the
gold reserve.
The certificates under the Bland
law, which are redeemable in silver
dollars only, and of which 1926, 4S9,
l65 are in circulation, have not de-
preciated They likewise have the
legal tender quality and in addition
the actual silver dollars. And so with
the Treasury notes issued under the
Sherman law, which have the legal
tender quality and the bullion behind
them, and il the Treasury had coined
the bullion, as was its plain duty un-
der the law, the dollars would have
been there instead of the bullion.
These issues all circulate freely, and
none are deprecated.
Oh, no, Mr.. Cleveland, you will
have 20 look deeper than this f,r the
Cause O, the financial troa''~s 97d
prevailing distress. The low rice
of "heat and cotton, caused by the
low price OF silver bullion, reducing
the income OF the farmers Of the
United States one-third, rendering
the strictest economy necessary, and
reducing the value Of our wheat ex-
ports from $500, 900, 900 to 5000, 0OO,-
900 and our cotton exports from
$3.50, 900, 900 to $l8S, 900, 900, throw
ing the balance of trade, which
should have been in our favor s104,
500, 900 against us sS7, 800, OOO
The shrinkage in all property
based on agriculture caused thereby,
including town and city property,
railway securities, etc., etc.
The stoppagc of silver mining and
the atteodent shrinkage, and, finally,
the fear tnat the manufacturing por.
ton of our community has of what
will be doue with the tariff on the
lines we are handling2 Can We con
tinue to operate, or must we closer"
These are the real reasons, and to
reach the root OF the trouble, silver
bullion must be brought to par, and
thereby put wheat and cotton prices
where they belong. The money cir
culating among the people must be
increased, and these two objects can
be.reached by giving to silver the
right of coinage at the mints of the
United States and restoring it to its
true function as money, of which it
has been robbed by legislation aud
depressed in price in the markets of
the world by reason of that legisla-
ton only.
The Sherman law should be re-
,Naa1s,l hut -, L