The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1896-09-18
THE SILVER SIDE.
A Spirited Discussion in the rlckin-
lev Club Last Night.

Mckinley Sound Money club was held
last night, and was full of interest.
Chairman S. w. Burgess, of the exc
cutive committee, recommended the
purchase of 1000 more torches, in ad-
ditiou to the 600 now on hand, saying
that all would be needed in the
future parades of the club.
The matter of electing marshal
to have charge of the parades was dis
cussed and left over.
1t was stated that more campaign
buttons would be needed, as the 300
secured are nearly gone, and the mat
ter was left with the executive COM
mittee.
DR.. Andrews was on the program to
lead the discussion of the evening,
but with the consent of the meeting
introduced his brother, Judge An
drews, of Brookings, S. D., who, he
said was a Republican and always
had been, was for sound money, and
would vote for Mckinley.
Judge Andrews proposed to advance
the arguments which are used in
favor of the free and unlimited coin
age of silver, in order that the men,
bers of the club would be posted on
what arguments they would have to
meet during the campaign. He did
this well, bringing to his assistance
every specious argument and fallacy,
all the Juggling with figures, all the
misleading charts that the silver ora
tors who will visit the city in the
future will have, and the ability of
the club to successfully combat these
was shown by the numerous questions
with which Judge Andrews temper
airy defenses were riddled.
The speaker reviewed the coinage
laws of the country from 1892 TO the
present time, and their effect on the
currency of the country, which he said
did not uphold the present Republi-
can theory. He advanced this propo-
sition: "If the free and unlimited
coinage at the ratio of sixteen to one
can be done and our credit at home
and abroad maintained, our currency
not debased, and the laboring classes
benefited, then we want it: ebut, if
the opposite result would follow, we
do not want it,"
Judge Andrews said that silver was
not technically demonetized in 1873,
for demonstration means destruc-
tion. The silver dollar was simply
dropped from the list of coins of the
country, and the common people did
not notice it for years. There is now
no law for the coinage of silver dollars
except from the bullion purchased
under the Sherman act.
Speaking of the claim that with
free silver the United States would
be the dumping ground of the silver
of the world, Judge Andrews said
that China has no silver to send US,
as it does not produce any, and
neither that country or India has one
fftieth enough to supply their own
uses. In 1894 the production of silver
of the world was S216, 100000, and we
coined none, and other countries $113,-
100000, while S4O,OOO,0OO was used in
the industrial arts. If all the rest
came here, there would only be $751;
100000. Bolivia, Australia and
Mexico are the only countries that
could dump in silver on US. If all of
the silver produced in the world were
coined in the United States, the in
crease of money per capita would only
be 1880 year, and in the world
fifteen cents per capita.
Since 1873, prices have gone down
hill like toboggan slide, and gold
up. In 1873, three pecks of wheat
would buy gold dollar, in 1884 four,
in 1898 six, in 1895 eight, and in 1896
ten are required. Taxes and railroad
rates have remained up all of this
time. In 1874, bushel of wheat was
taken from Chicago to New York by
lake and rail for sixteen cents, and
in 1894 for 1913 cents on an average.
Since 1873, the value of wheat and
silver has fallen in nearly equal pro-
portion from S1.31 a bushel and S1.29
and ounce, to IS cents a bushel in
1898, and Y cents an ounce, and lower
now. If Minnesota and the two Da-
kotas would combine like the rail-
roads they could control the price of
hard wheat and demand and receive
sixty cents for it.
The United States silver dollar is
worth hundred cents now with
nothing behind it. The silver coun-
tries are not all poor, and our immi-
grafton comes from the gold coun-
tries. The action of the United
States, Germany and France caused
the decline in silver.
Each of the arguments was re-
fiuted by mem bers of the club, and it
was shown that silver had nothing to
do with taypc apd railrood ro+oc oad