The record-union., 1896-08-18

may be found on page 424 of Volume
XVII. of United States Statutes at
Large.
The principal provision of the Act
| was for a dollar of 420 grains. The
West particularly demanded the trade
| dollar. An extra quantity of silver
| was put into this dollar so that it
might compete in the markets OF India,
China and Japan with the dollar of
Mexico. The journals of the whole
coast and the West generally were full
OF glowing predictions Of the conquest
of the Orient by the American trade
| dollar. It was known that India alb
scrbed some $50,O0Q000 in silver an
nually and China an unknown sum,
and Western silver producers believed
that with the trade dollar they could
work off their entire output >advanta-
geously by developing Oriental trade.
Let any inquiring person examine a
file of any paper reaching back through
that period, and if open to conviction
by fact, he will soon satisfy himself
| that the coinage Act of 1873 was in
reality a demand on the part of the
| West and that the main object Of that
| coinage law was to provide dollar
that Asia would accept in preference
to Spanish American coins, and that a
limitless market would thus be estab-
lished for our surplus product of silver.
The trade dollar was practically a
| failure for the simple reason that when
one Government undertakes to coin
money to be used in foreign countries
it is overstepping it's jurisdiction. The
trade dollar reacted to embarrass Cali
fornia in the time of it's first depres-
sion. Silver became a drug on the
market, and in most localities of the
coast was discount of 10 per cent. in
trade.
A FREE TRADER.
San Jose Mercury: Mr.. Bryan is a
free trader. That is. he wants free
wheat to come here from India, Russia
and Argentine, free barley from Can
ada and Russia, free cattle from Can
ada and Mexico, free wool from Aus
| tralia, China and South America, free
hay and eggs from Canada, free hops
from England, Germany and Russia,
free sugar, free coal, free lumber and
| free manufactures from Europe and
Asia In other words he would COM
Pei every American producer and work
ingman to descend to the low level of
the cheap labor Of other countries in
order to compete with It, Is that the
standard of living that Americans
prefer?
WHAT 1T WANTS TO DO.
Placerville Nugget: What the Re
publican party wants to do Is more
feasible than the proposition of the
Demo-Popuiistic outfit. We would put
in motion the wheels of industry. We
would give employment to Americans
and create a demand for the now
locked-up millions of dollars. We want
that in circulation before we pile up
any more. There's money enough for
present uses If we can only get it into
circulation, and the mere manufacture
OF more dollars will not do it. High
protection will do it though, and high
protection we want first.
RESTORE AND REDEEM.
Los Angeles Herald: Why" asks
the gold monometallist, Should silver
bullion worth fifty-three cents be
coined into dollar worth a hundred
cents?"
The obvious and honest answer is
that such a depreciation Of silver as
controls the market to-day has only
been brought about by an unjust policy
which has robbed silver Of its true
value. Before the white metal was
outlawed the ratio of sixteen ounces of
silver to one ounce of gold was and had
long been the unquestioned relation
between the two metals. Free silver
ties are only asking to-day that silver
be restored to it's position previous to
1873. Such a request is no more dis
honest" than for citizen whose prop
erty has been unjustly deprecated to
seek to reclaim it. We are told that Al
cents have dropped out Of every 100.
This is true of thousands of millions of
the coin in the world to-day. Does
honesty demand that no effort be made
to retrieve such loss?
Has not" again demands the advo-
cate of the gold standard, this depre-
citation of silver been necessary and
natural result of its over production,
the supply exceeding the demand?"
No evidence has as yet been produced
that such increase has been in excess of
the proportion of coin. One may turn
with advantage to the vast amount of
silver used for manufacturing purposes.
At least twenty ounces of silver are in
such use where one of gold suffices.
Watches and jewelry alone are
amongst the innumerable forms of sill
yer to be found in almost every house.
AS soon as silver was degraded from
it's right to free coinage, the natural
result which has been paral1eled else
where ensued-it began to sink in
value.
THE PROPER PLACE.
Jackson Daily Republican: Time will
show the wisdom of returning Hon.
Grove L. Johnson to Congress. In him
the Second Congressional District has
timber for much more important
service than he can give in the lower
house of Congress. The United States
Senate Is the proper rlace for Grove L.
Johnson, and If he lives, there is just
where he will go. Mark it.
WHAT 1T WILL DO.
Ventura Independent: In the first
place, the free coinage Of silver would
call again into demand laborers that
| ora crowdinp other fields of labor On