The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1896-09-24
THE GREAT SILVER DUMP
The Bu6aboo Of The Republican Claim
ants Fully Ventilated.
NOW BRING on ALL YOUR SILVER
Pork Packer Armour Called Down
ON HIS Big BluSf-The Incensis.
tency of NEUTRALITY-SUSPICIOUS.
About che Coming Legtsisture.

One Of the contentious OF our gold
friends is that II the mines OF this country
are opened to the free coinage Of silver,
the United States will at once become
the dumping ground for the silver Of the
world; that we will virtually be smoth-
cred with the white metal. What an
awful calamity that would bel How we
would swelter and puff under the awful
load Just pause for moment and con-
template the consequence! OF course
China, japan and India would not throw
thei, silver coin end bullion upon va, for
they need 1t at home; but Europe would,
and since the nations of that continent
have about 81 100 ,000, 900 Of coined silver,
according to our gold friends theory 1t
would be thrown upon US with one great
slump. But will 1t actually come over
here to be coined? Let US examine this
proposition from business standpoint.
The 81, loo. 000, 900 of silver in Europe
is in active circulation in those countries,
and is required as subsidiary coin to
facilitate the ordinary exchanges in BUSH
ness transactions. It's coinage ratio to
gold is l5lla to l. Not an ounce Of it can
be bought at less than its coin value. To
transport and coin it here at 16 TO would
entail loss Of something like $35, 000,-
900. Very few Of our gold friends would
undertake the job, however much they
would want to see their theory verified.
But suppose they should, how would
they supply the vacuum caused in the
circulating medium OF Europe by its de-
portation? The $650,000,0 900 OF gold
whisk they propose to take from the
United States cannot. perform its func-
ton. Silver cannot be found elsewhere
to take its place, so the dump over here
would have TO be robbed and then up
would 20 the price Of silver.
If their theory is correct, We would like
to ask why it Is that our neighbor to the
south has not been the dumping ground
for the silver of the world. Mexico Is
monometallic silver country and has
been for years. Why has not Europe
been dumping her silver into that coun-
try and having II coined into bright,
shining Mexican dollars? Has the silver
OF that continent or OF the United States
smothered the Mexicans since free coin
age has prevailed there? 1t seems not.
Even the United States, which produces
nearly one-half the silver bullion OF the
world, has not attempted TO bury the
Mexicans with her silver; but instead
has permitted Europe to buy it and cart
It away across the Atlantic.
To this proposition the answer would
most likely be that the Mexican dollar is
worth but fifty cents in Our money,
therefore the silver bullion, when coined
in Mexico, will give the owner no profit;
then when it is said that in the event OF
free coinage being adopted in America.
the worlds silver will be dumped upon
us, 1t is admitted that the contention of
the bimetallist, that free coinage will re-
store silver to its mint value, is true
Finally, the contention SINNERS down to
two facts: Either there will be no influx
of silver from the effect Of free coinage,
or silver and gold bullion will at once
come to common price at the coinage
ratio Of this country. Times. Mountdineer.