The herald., 1896-10-27

| come the dupes of the cry Of Sound,
honest money, when made by men o.
such notoriously unsound lives. Only
that false cry and the habit of trust in
party leaders can account for SO dis
tressing fact. That and the invectives
also against some members of 1.-The
party of tine people" whose record at the
worst their enemies can say of them; is
less anarchistic land. destructive of lib
erty, morality and decency than that Of
the bosses, whose record is now known
of all men, Eat in the face of which
large numbers of our Good Gov
ernment League recklessly fly their
flags and throw their votes for such
leaders. Where is our hope to be If not
in 1.-The party of the people, c. S. s.
BANKER HELLMAN'S REMARKS.
Editor Herald: The Times of yester-
day contains few remarks from Bank
er Hellman of the Nevada bank in San
Francisco. who has just returned from
trip abroad. The honorable gentleman
deprecates the political situation and
incidentally refers to the flood of silver
Russia is preparing to send over here
to be unloaded for the purchase of our
gold. Now, l cannot by any possible
means, imagine that Mr.. Hellman in
tends to state fact. especially as re-
CARDS finance but what has at least
some groundwork of truth behind 1t,
especially as he is an honorable man and
occupies a position as financier anu
banker that should establish his words
beyond peradventure.
In examining his statement, however,
regarding this flood of silver, to the
amount of $500 900, 600, which Russia is
preparing to send us for gold purchases,
the writer begs to refer him to the fact
that Russia according to the report Of
the director of the mint 1S93-9D has
only q circulation of SAL 900 in silver.
By what method of imitation and ex-
pansion of silver coin could SAL ZOO, 900 be
stretched out to make $500,000,0O0?
If, as the sound money cohorts assert,
gold will go to premium, how much
silver will Russia lose by the TRANSACT
ton?
Again, the ratio between gold and SILL
yer in Russia is 151s toll Will Mr.. He'll
man please figure the loss to Russia in
the transaction when she dumps the
balloon load of silver on us, to be traded
at ratio of 16 to 1, thereby losing
1-32 cents per ounce, besides the cost
of transportation-and then, in turn,
jumping into the market for load OF
gold, which Mr.. Hellman acknowledges
will be at a premium? How far will the
premium on gold advance when the
fact is known in the financial world that
Russia has sent us $500 1000 900 (balloon
gauge) in silver for gold purchases?
Suppose we could not pay her all GOLD,
would she take the silver back again,
at further loss for freight, or would
she buy or trade with us for something
else which she could trade for gold with
somebody else, and would that hurt US
very hard?
Will Mr.. Hellman figure this out for
a muddlehead? / am only tid-bit in
the school of finance, but such rot as
this coming from a man who ought to
be a first-rate artist in his line and be
able to sling out something. perplexing
to us anarchists, in the shape of finan-
cial logarithms, shows either a small
conception of the question at issue, or
presumes good deal on the ignorance
of the people, who are ignorant no long
er. ut used to be the caper, but it don't
go now."
Will the Financial Letter of San Fran
cisco please copy this-before election?
]. H. BURKE.
Los Angeles, October 26, 1896.