Freeland tribune. (Freeland, Pa.) 1888-1921, 1896-09-07
FREE SILVER COINAGE.
WHY IT WILL IMMENSELY BENZ
FIT THIS COUNTRY.
The Worlds Supply OF silver Depen-
deat Upon the United States-The
World Must Buy From Us, and at
Our Price-position of EnClan6

W bFti must s8uy FROM Us, ana at
Our Price-position of England.
We are told by the gold men that
with the free and unlimited coinage
of silver in this country alone, we
would be flooded with European
silver, and ns a result our silver
money would be greatly deprecated.
That this proposition is untruthful
and misleading is amply proven by the
report OF the Director of the Mint.
dated June "a, 1894, which shows
that the worlds production of silver
for the year 1898, rated at the ratio of
16 to /, amounted to $20S, 81 900.
OF this amount the United States
produced SIT, ,575, 700, and Mexico
produced $57, 1915, 600. The amount
produced in the United States and
Mexico was $134,951, 300, and all
the balance OF the world pro-
duced $73, 4Ic. 700. Put of this
S73, 419, 700 the South American and
Central American States, all of which
are silver using countries ard equally
interested with the United States in
maintaining the price of silver, pro-
duced S25, ,044, 700, and the Dominion
OF Canada produced 1921 400, which
makes a total production in America
of S160, ,317, 400, and all the balance
of the world produced only $4S, ,O53,-
600. The amount actually produced
IN Europe was $40, 155, 100. The
amount produced in Great Britain,
the country that now assumes the pre-
rogative of fixing the value of the sll
yer bullion of the world, was
1927, 700. England's production of
silver is less Ithan two mills
on the dollar of tho total pro-
duction. Instead of being able to die.
tate the value of silver bullion, she
ought not to be consulted at all. She
should have no voice in the matter.
IN fact, Europe combined could
not, as against the wishes of Amer
lea, exert much, if any, In
fluence, on the value of silver.
The amount of their production or of
their actual consumption of silver is
| too tritiing to have any material in
fuence on its market value. Europe
requires certain amount of silver
bullion annually to keep up her sup
| ply of token money, even though she
might discontinue its use as money Of
ultimate or final redemption. The
amount now being consumed by her
Tor coinage purposes averages about
| $32, 600, 600 annually, to which, if you
add the amount consumed by her in
the arts. it will be found that instead
of having silver to sell she annually
consumes more than double the
amount of silver that she produces.
1t may be fine thing for Europe to
allow her to fix the price OF silver
bullion, but it is contrary to all pre-
cedent and an outrage on the silver
producing countries. America pro-
duces more than three times as much
| silver as all the balance of the world,
and more than ten times as much as
the amount produced in Europe.
The total amount of silver produced
in the would, outside of America, is
not sufficient to supply the demands
OF Europe for coinage purposes and
for the use in the arts. 1t is not suf-
ficient to even supply the demand of
India for coinage purposes alone. 1t
would hardly be sufficient to keep the
silver gods of China in decent repair,
to say nothing about new one now
and then. 1t would be, therefore, an
act of imbecility for America, pro-
ducing as it does more than three
fourtha of the silver produced in the
world, and more than ten times as
much as the European production, to
allow Europe to fix the price of our
silver bullion. We have no interest
in common with Europe on the silver
question. Europe is a heavy consumer
of silver. She does not produce enough
to supply her demands. She must
enter the market and buy silver, not
only for coinage purposes, hut for use
in the arts. 1t is to her interest to
buy silver at as low price Us possible.
We can not combine with Europe, and
why should we not combine with our
selves?
America commands the supply OF
silver bullion. The annual con-
sumption of silver for coin
age purposes, Notwithstanding the
suspension OF the coinage OF silver by
the Latin Union, averaged for the
years 1929 over $143, 900, 600, and
the consumption in the arts for the
same years averaged over $27, 900, 00L
(see report OF Director of the Mint for
1894, making total annual consump
tion of $17O, 900, 900, only $4S, 900, ,O0C
of which are produced outside o.
America 1t will therefore be seer
that after consuming all the silver
bullion produced outside OF America
the world must buy from us $122, 900,
600 worth of silver bullion annually
for coinage purposes, and they mus
ray the price fixed by US, if we haze
manhood enough left to fix price.
The idea, therefore, that with thu
free and unlimited coirage OF silvel
we would be flooded with European
silver is a delusion which facts anc
history can easily dispel. Why, i
We are the greatest producing
| 4,..