The midland journal. (Rising Sun, Md.) 1885-1947, 1896-10-09
Kinks of r1cKinley,

Correspondence of the MIDLAND JOURNAL.
Mr. Mckinley in his letter of acceptance ex-
presses himself relative to bimetallism and fee
coinage in Mexico as follows:
"Bimetalism cannot be secured by individual
action on our part. 1t cannot be obtained by
opening our minis to the unlimited coinage of the
silver of the world at ratio of16 ounces of silver
to ounce of gold, when the commercial ratio is
more than 80 ounces Of silver to ounce of gold
Mexico and China have tried the experiment.
Mexico has free coinage of silver and gold at a
ratio slightly in excess of 1917 of silver to
ounce OF gold and while her minis are freely
open to both metals at that RATIO not single
dollar in gold bullion is coined and circulated as
money. Gold has been driven out of circulation
in these countries and they are on a silver basis
alone"
Mr.. Mckinley appears to be unmindful Of the
fact that Mexico is cursed " it'll gold obligations to
England to the amount of about two hundred
million GOO, OOOO OO) dollars and that her entire
gold product, and much more, is required to meet
said obligations.
There is no necessity for Mexico to convert her
gold bullion into coin, to be reconed when paid
over to England. Gold bars are doubtless more
convenient and save the expense of coinage.
II shilings ane pence per ounce for all the gold
bullion that may be offered. This price has
recently been raised to f3, It's and lOd, which is
within I'D. of the actual coming values Hence
it is the gold obligations of Mexico, not the free
coinage OF silver, that sends her gold beyond her
borders
Here in the United States the established price
at our minis for gold bullion is S2O67 and until
tIaa tohl ohnIn For
S1.29 per ounce, or more accurately $l.2929 These
figures render IL ounces of silver the equivalent OF
ounce of gold, it is usually termed, 16 to l..
The producer of either etal was charged with
the expense of refining and casting into fine bars
The coinage was then done by the government
free of charge to the producer, and this fact has
given rise to the phrase " free coinage"
Ifthe bullion law, as it existed prior to 1878, be
/ restored we can maintain silver bullion at its
former value of $1.29 per ounce in spite of the
combined powers of the earth. in proof of which
l submit the following extract from an article in
the London Financial Neus copied into the Farm
ers Tribune (Des Mones Iowa. of Jan. LIST, 1896:
There can be no doubt about it that if the
United States were to adopt silver basis tomor-
row, British trade would be ruined ere the year
was out. Every American industry would be pro-
| leCleu, uOl Only Ut Dul Ill every Otler
market of the world 1t has been a piece
of luck for us that it has never occurred to the
Americans to scoop us out of the worlds markets
by going on silver basis"
If the old silver law were restored and the paper
currency properly inflated we wonld soon have
prosperous times,
Wrong rules the land and waiting justice sleeps,
While the wrong doer sharp vigil keeps.
God give us men, for times like these demands
Strong minds, great heart, true faith and ready
hands,
Men whom the spoils of office can not buy
| Men who have honor, men who will not lie.
Ollie. n. c. BRYAN TYSON.
| *NoTE.-English standard gold (9162a fine) is
composed of II parts pure gold and 1 part alloy.
Tins compounded it is ready for coinage. By act
of Parliament of 1914 the Bank of England was
authorized to pay IS, lis, Cd per ouce for all the
standard gold offered. This price has recently
been increased to g. lis, 10d, which is within I'd
| of the coming value. In our mouey it is about
SIS. "a per ounce. At the same rate an ounce of
pure gold 900 fne) is worth little over S20.66I
Hence the price paid by the Bank of England and
our minis for fine gold is very nearly the same
the price here being $2067, less the cost ofpartng
and casting into fine bars