The times. (Owosso, Mich.) 1882-1897, 1896-09-11

currency would remain $1.29 an ounce.
which would be the equivalent Of very
much smaller gold price In the markets OF
the world. AS matter of fact our curren-
cy would slide to silver basis long before
any silver law was passed, and would have
no other value than the bullion value of
the pure silver in our silver dollar, which
would be the only redeemer."
Senator Burrows desiring to have the
treasury officials corroborate Mr.. Leech tele-
graphed Secretary John G. Carlisle the fol-
lowing query:
Kalamazoo, August "a
Hon. John G.. Carlisle, Secretary of the
Treasury, Washington, ID. G.
Under free coinage does the government
pay for the bullion presented and If so, does
1t pay the bullion value or the coinage val
ne. How is section S545 construed?
]. Q. BURROWS.
Secretary Carlisle's answer was as follows:
Washington. August "a.
Hon. j. @. Burrows:
Your telegram received. Under free
coinage the government pays the full coin
age value of the bullion when deposited and
furnishes the alloy without charge.
j. G. CARLISLE.
The law Mr.. Leech and Secretary Car
Isle referred to, is section 3545 of the revis-
ed statues of the United States Ia part of
the act of 1879 which provides that the sec
rotary of the treasury shall keep certain
amount Of money, or bullion produced for
the purpose tout of which those who bring
bullion(gold)to themints Or assay offices may
be paid the value thereof in coin or bars, as
soon as practicable, after the value has been
ascertained."
Now Mr.. Leech and Secretary Carlisle say
that the present practice of the treasury is
to pay the depositor of bullion (gold) gov
eminent check payable in gold-a dollar for
every 1922 grains of gold. Mr.. Leech
claims that under free silver coinage bill
the mine owner could deposit his silver bull
lion and get government check for it-a
dollar for every 3714 grains. This check
would be as good as gold as long as the gov
eminent could redeem it in gold, and just so
long would the government be obliged to
pay S1.29 an ounce lin gold) for all the sill
yer brought to the minis. When the gov
eminent checks paid for the silver bullion
could no longer be paid in gold, then of
course the silver mine owner would still get
| $1.29 an ounce in our currency, but the
| S1.29 would be very much smaller than the
| former SIPS in gold. We would then be on
a silver basis.
1t is thus true that the government would
pay the silver mine owners ST. 30 an ounce
for their silver, but the $1.29 would be sim
ply the value of the silver in and 29.1OO
of silver dollar-that is all. We would
be on a silver basis and every dollar would
mean 37lA grains of silver, with pur-
chasing power of about one-half that of
1922 grains of gold.
AT the close of Senator Burrows address
Mayor Pingree spoke briefly, being received
with cheer after cheer. After hearty cheers
for Mckinley and Hobart, Mayor Pingree
lection, and sound money, the meeting was
closed. The result of the meeting is espec.
tally satisfactory to the county committee
No more satisfactory nomination was
made by the republican county convention
than that of Francis M. Shepard for repre-
sentative. From all sides are heard con-
CALCULATIONS for Mr.. S., and predictions that
he is sure to be elected.
A vote taken on the excursion train to
Detroit, Monday, showed go votes for Nc
Kinley and 20 for Bryan.
On page ten will be found the address Of
ex-President Harrison, delivered at the
opening of the campaign in New York City.
Its careful reading will repay any of our
readers.
j. d. Royce spent few hours in the city
yesterday. We have no hesitancy in say
ing that he will be elected register of deeds
next November by handsome majority.
and that the city of Owosso will do her part
in making the figures exceed 1000. Mr..
Royce has the happy faculty of making
friends, all of whom will remember him on
election day.
Ex-Gov. Luce is to do some campaign
work in this county soon for the republican
county committee.
A union silver congressional convention
for the sth district will be held in the city
hall, Owosso, Sept. %, to nominate candi-
date to run against Messrs. Linton and
Brucker. 1t is generally understood that
Brucker will remain on the democratic
ticket.
If We Still Had the Mckinley Bill.
Although 1t is not argued that the McKln-
ley bill should be re-enacted exactly as 1t
stood before, ct had it not been repealed
the country would not now be suffering as
it is today. The following paragraph is TAX