The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1896-05-14

From the mint tables of silver pro-
duction in the world in former years,
l select the following figures of total
production at certain decennial periods
SILVER PRODUCTION.
1850 $3a,44o,aoo
1860 37,6I8,ooo
1870 53,663,ooo
1880 IoI,85I,ooo
1890 163,o3a,ooo
Add to this exhibit the worlds re-
port for the three following years
1892 1oS,oI44oo
1898 aIA745,3oo
1894 2I6,S92, 200
OF the aggregate of 1894, 64,ooo,-
900 was produced in the United
States, 60, 800, in Mexico, 4,474,-
500, in Peru, 2S,444,4oo, in Bolivia,
and smaller amounts in other Repub-
lies south of the United States, as
we'll as amounts of varying magni-
tudes abroad
This amendment, proposed by Mr..
Stewart of Nevada in the Senate, in
1871 and which secured the sanction
of that body, completely exposes the
plan and objects Of the silverite inter
est Of the west, is in accord with the
Bland bill in its original form and with
the Plumb amendment, Of which /
have already spoken. 1t is also con-
sistent with the recent and present
position and demand of the silverite
interest in the Senate, whose obstruc-
tive tactics at the present session Of
Congress have attracted the atten-
ton of the people Of the United
| States.
The Stewart amendment was offer
ed to currency bill from the COM
nlittee on Finance and was as follows:
''That any owner of silver bullion, not
too base for the operations of the
mint, may deposit the same in amounts
of the vaiue of not less than $Ioo at
any mint of the United States, to be
formed into standard dollars or bars,
for his benefit and without charge,
and that at the said owners option,
he may receive an equivalent of such
standard dollars in treasury notes of
the same form and description, and
having the same legal qualities, as
the notes provided for by the act ap-
proved July IA, 1890, entitled, AN
act directing the purchase of silver
bullion, and the issue of treasury notes
thereon, and for other purposes And
all such treasury notes issued under
the provisions of this act shall be a
legal tender for their nominal amount
in payment of all debts, public and
private, and shall be receivable for
customs, taxes, and all public dues,
and when SO received may be re-
issued in the same manner, and to
the same extent, as other treasury
notes"
Amendment adopted January IA,
1891 by a vote of AZ to 80, and bill
passed the Senate by vote 50 to a7.
| fisherman, Vol. 2, P 1o9S].
How plain and simple this is. He
who misunderstands it must deceive
himself Three very ineligible pro-
positions constitute the whole scheme:
First: Any person in the world who
has, or can get silver bullion may go
with it to any mint in the United
States and have it there manufactur-
ed into standard dollars or bars the
product to be delivered to him in
either form he may desire. All this
is to be done for him without charge,
by the mint, and for his benefit, that
is, for his personal profit and advan-
tage. An illustration will show the
working of the plan more clearly than
argument. In 1891 when this
amendment was voted triumphantly
through the Senate the market value
of silver in the standard American
dollar, ranged between So and 73 cts.
in the London market, the average
rate being 70 cts. In that year upon
the silver produced from the U. S.
mines, if the whole oft had been dump
ed at the u. S. mints under the Stew
art amendment there would have
been a net profit to the producers o.
more than sixteen million of dollars
Second. The mint having manu-
featured his bullion into standard
dollars or bars, he may, at his option
demand and receive treasury notes
therefor, instead ofdollars said,note'
to be legal tender for debts, public
and private, for customs, taxes &c
So in the end he gets for his silve
f gold compelling securities of the gov
, ernment without having been subject
ed to any loss upon his product, sucl
! as sale thereof in open market woul
impose.
APPENDIX