The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-07-03
.D0STER TO GR0SVENOR
eThe Marion Judge Answers the
Generals Silver Talk.
Takes Strong Exceptions to His
Statements.
Ealrss a Strong Showing Why Silver
Should be observation-disclosures
of Trade and Tariff


= Judge Frank Doster of Marion is in
town. Wednesday night he went to
hear General GrOsvenor's speech As
might be expected, Judge Doster takes
strong exceptions to it. He said to
reporter:
General Grosvenor said that for the
years 1889 to 1893 the balance of trade was
On our favor and against foreign nations
10 the extent of two hundred millions
of dollars, while now the balance of
trade was against US to the extent of
&wo hundred millions of dollars
The Bankers Magazine for June OF
&I1is year, on pages 1874 and 795, shows
the utter falsity of these statements
The statistics for the first ten months
of the present fiscal year closing with
tApril I, show a balance in our favor
OF eighty-twO millions of dollars, and
Tor the corresponding ten months of the
fiscal year ending with July 1, 1895,
seighty-fOur millions of dollars, and for
the corresponding ten months of the
preceding fiscal year, two hundred and
Ewenty-seven millions Of dollars, while
Tor the corresponding period of 1893,
before the Mckinley law was modified
by the Wilson bill, the balance of trade
was against US to the extent OF seven
millions of dollars
For the corresponding period of 1892
the balance of trade was in our favor
AoFthe extent of two hundred and eight
millions of dollars, and for the CORE
spending period of 1891, which is as far
back as the statistics are carried, it is
In our favor to the extent of Sixty-nine
Fnillions of dollars, making for the last
Jhree years under the Mckinley law
balance in our favor of only two hun
dred and Sevent y-seven millions of dol
lars, as against balance in our favor
for the last three years, most of which
has been under the Wilson bill of three
hundred and ninety-three millions of
dollars.
ITO Illustrate the foreign trade move
ments for the years mentioned 1 beg to
quote from the magazine named, as fol-
lows. The completed statistics of for
eign trade for the month of April show
shat the exports of merchandise We're
1880. GOO less than in the previous
month. but exceeded those of April last
year BY nearly $500, 900. They were
also larger than in any corresponding
north since 1892 The imports of mer-
chandise. on the other hand, show a
very great falling off. They were 81, $780,
o0Q less than in March, S1O,000000 less
than in April last year. and the small
est for any month since April, 1895.
AT the present rate of exports the
total shipments of merchandise for the
fiscal year 1886 will closely approximate
those for 1891 and not fall very much
below those for 1892 The excess of ex-
ports over imports for the ten months
IS $50, 685, 063, or within about 81 600 900
as much as for the corresponding period
of last year and exceeded only in 1894
and 1892 in recent years. The net ex-
ports of gold in April were S2,639 764,
making the total loss for the ten
months nearly S56,0O0, 600. Silver ex-
ports in April were $4.571.316 and for
the ten months ended April 80. S38, $780,
40. The net exports of merchandise.
gold and silver from July 1. 1885 to
April 30, 1896, aggregated $177 000, 000.'
The only possible way in which Mr.
GrOsvenOr can accumulate this claimed
balance of trade against US is by count
sng the exports of gold against US as
Though it were something with which
I'VE had parted without receiving any
equivalent, while the fact is every cent
of it went to cancel some obligation,
public or private, owed by our people
and has no business whatever in the
&abulation of trade balances.
Mr.. GrosvenOr also failing to reply,
as would become a public speaker, such
as he vaunts himself to be, to the re-
quest for an explanation concerning
the decentralization of silver in 1873, re-
piled by asking his 1nterrOgtOr the fol-
lowing questions: Does the gentleman
know that prior to the characterization
of silver in 1873 the United States minis
coined eight millions of dollars of sill
Ter2 And does he know that since 1873
Hhe United States minis have coined
six hundred millions of dollars Of sill
yer?s Assuming that the first of these
auctions implies the statement that we
had coined up to 1873 only eight mil
Hons of dollars of silver it is an arrant
Ra1sehood. The Tribune Almanac and
Political Register for 1893 shows, on
pages ia and 115, that we had coined
aIp to 1873 in round numbers one hun
,dred and sixty millions of silver. includ-
ing subsidiary coinage as we'll as dol
lars It is true that up to the date
mentioned we had coined only about
eight millions of silver dollars, but the
coinage of halves, quarters and dimes
for the same period amounted to more
than one hundred and fifty millions,
and the total silver coinage. not merely
the coinage of dollars, is the fact to be
stated in a discussion of this matter.
do not have the figures at hand as to
the totaT silver coinage since 1873. tt
as safe to say that it is far less than
what Mr.. Grosvenor states, even in
Guiding the trade dollars, which were
never intended for circulation in this
country but only for use in our Asiatic
trade. and even including the purchases
of silver bullion, the seigniorage as we'll
which has never been coined, and only
part of it circulated in silver certif1-
Gates"