The times. [volume] (Richmond, Va.) 1890-1903, 1896-09-24
TACTS NOR FANCIES.
\ Clear and Convincing Exposure Of "A
Claim Of the Free Silverites.

~, , caar,uo,n rvo. Of
- '''", ~" ,,,''"
claim OF the free siVer'tes'
EDITOR OF The Times:
80. .rba ufosrrf rrioa ~ aiIver hul-
,o q, go. - -.
ION IN me new YORK market Is si1ty-siN
Hi ounce This makes the bullion
value CT one silver dollar exactly 1fty-
one cents lsos moo, - 80.
,,,-oo,o.. -. 49,, -, 80 .'.Io'' VI INC
Di'0''ol VI 'ne MINT LOT le3JJ Suppose
now, that Banker 81. John has, charre
of the United States Treasury. He fells
Us: '"Ihe gold already IN the frsasurv
VIII remain There IL e.Y,r,or .,-e.. IT..
tatcs the treasury management. that isl
II the treasury exercises It's option ~
redeem United States notes IN silver"
Mr.. st. johns policy. then. wouid sink
the value of a United states note 10
the commercial level OF silver. tnat is.
q would pass at q discount OF 40 per cent
Persons who find it necessary TO send
gold abroad Will have TO Obtain It from
the market lie market Will want pre-
mum. IL tho market demands "a premium
too high. the holders OF United States
notes viii transform them into silver doll
lars. ship these abroad as bullion. sell
them FOR gold. and Herewith discharge
their foreign Indebtedness.
J. his - why the commercial value OF
silver I'm London viii determine the value
of our paper currency in New YOrk-if
Mr.. BY ans pam people should en-
dorse Mr.. 81. johns common sense
poAcy or running the treasury on sil-
yer pass.
ie LONDON qDola'loh5 lot par slFeF
VIII servo us IL limit 10 the premium
oDtaln Tor gold
IL - pam then, that inns sold pre-
MUM VIII rise anu ran 10 accti41Ace Win
the fluctuations IN the price OIL sAfer IA
LONDON 'Iso lhal lie actuai ri''o'Hi o."
the American paper dollar IL IL - 10 De
ule price OF SlNe epioa' no Hl...eI ""a1
may ue IT'S hi4At N'~'alloh ID. "oHn''
SUPPOSE tHal on inc hiAt udf ol-APi u
Al oois LAY We gVtI 1871 luc
Lnltd states inllt7 are l,'4 o' ID open
10 the Tree anu uhIeslIlclel colhase Oh
silver on private account OF course IL
is Impossible 10 Ileulct WHAT VIII DC
the prce q snFei IN bohl0n on lhdl
uay, Dul as we nave 10 proceed on " hop-
position OF scme SORT lei US assume mat
the quotation then VIII be the same as
now-to-wit: 80 II pence per ounce Brit
ish standard chat is, 20 parts line ln
lUW, corresponding 70 a price or 81"
pence per me ounce. ms VIII MAKE o4I
silver dollar worm hIiy-ohe cents auioa1
AT home II VIII sun ne nolnlhahy lVD
cents; IFS actual discount or AZ per cent
VIII re eAlieaseu 10y " ilse oi ~ p'i
M the prices OF ,"e Vo'l'ii ,,su b., -
chase' The gcld dollar "ill De 4golea
at Sl.'r, lot oo ~ we t"V'-N"' wv '"''''"
~ va VINO 20 -'-t"
Inc duNo'dt'7 yi li'' 'v,'i.-0' 10y.
that tho gold premium VIII Iap.uy us
appear ior they DelleNe ,".l 'iie ~
or silver Dullloh VIII Idpiuly Iiae III - ~
don under the influence Oh "m Vper iNli'
IN America Ih'N nave NOT uis'NlC'i' ""
nouced what lhty M0uIl can a Ial'u ray
We viii admit, Tor ne SAKE on al ,4illeH.,
That the premium IN toid VIII lti OH
points every month LOT SIX hontns. 50
that by the hist aay OF eo octoDel, 4ey M J..
VIII nave dropped 10 90 per cent Il ms
would correspond 10 N"lue OF % -
cents for our silver dollar. iise from
5l cents 10 81 Il Is rise OF - ~ per
cent. The temporary rise thecttd uN
the sherman SliNei-pui'ho 7i"s ac1 was
u per cent
Turn 10 lere -. OF me report OF ihP
Director OF the MIDI Ter 1910. ana You
will see that the lowest average COM
mcrclal value OF the bullion contained IA
one silver dollar during the year 1890 -
in the mCnh Of March, when II was II
conts. mills. ana the highest average
was attain ed iu the month CT Scptem
Der. when il was 90 cents. The difference,
viz. n cents q mills. Us an advance ~ II
per cent upon the value in Marel This
advance was entirely lost in the course
OF "a months. fer I'm November. lsn, the
average bullion value Of The dollar was
"a cents
on nage 2pI r the Report of the Ii-
rector of the Mint We have a liable glV-
initrd states ion tho fiscal wears 1855
1S,l. During Tie fiscal wear chat BEGAN
Julv 7 1880 and closed Jane go 1891
our imports of silver exceeded our ex-
norts bv S2.7f5.@6j such n phenrmenon
bal ,ol occurred Since l.6g.
1ba ontrut OF our silver mines during
the fiscal wear that ended June &c. lfyD
was 81. COCOON ounces. with coinage
,,oi,o of s-o 465 oo0 az his niiapfftv tie
',t.ite u'o,id ,.ot Tho heroft ~ orl, *
,.,-- ", q co6 0fa tre o,,,,crs M. r-.tt
~, S+stcs ,rreserr,, was the, ur~.hSs,n.
.iirer ,,naar no torms Of The Rllnl- AM
,,f o.t D,~,,,.- .hs ti-i-tcoD ,.ers me-
$50 80 ~ n..e..,e ~ G,. toxin.
~. 80 1N6-1~7- the s,n fof,i - o,,r
~ evnorfs OF silver was $40 -..l. -,7-an
$3.50 ~ ste oog 900 ar ne a., f01 ot,roos
Veariv Durlnr the thirteen wears az tie
c,..tr,oo ~ no act-to-vft. Tho veafs
lS7S-fS9a the sum total rf or not a.