The morning times., 1896-10-13


Respectfully. E. H.
THE TIMES publishes the above because Mr. Fenhod
evidently sincere They also show the ignorance of most sill
verites financial question: nasmuch they the
average slvere argument The simple
the financial problem than the appearance of
black THE TIMES willingly give
to learn how the United States could circulate gold and
silver parity without disturbing
But the information must from with fewer
spots brain than found Mr.. Fenho
judging from his letter.
That gentleman will by consulting Treasury
that did bmealm from 1871 The
established in the United States 1892 opened
coinage at /. We Immediately to silver
gold withdrawn
op and standard OF value silver until 1884, when the
ratio changed l. This time it silver
standard changed gold Silver
drawn from circulation, money except
subsidiary coinage until the BlandAson
the coinage of 600 standard silver which
at parity with gold We have been gold basis since 1884
Mr. Fienhod must have drawn Mr. Bryan inspiration
when he there will be panic should the silver ticket
the election He claims it would Secretary
of the Treasury could redeem greenbacks with
of the Treasury should have sought
before attempted silver Yesterday
total available cash in the Treasury s239s427os
total available specie currency S1SS
standing greenbacks 10 be redeemed s346
Bryans election would Immediately gold
foreign would food American
bonds, drop everything but
Bryans good That already Of
s346 O6
greeubacks specie? asylum are full
people who have tried fill square hole with plug
this problem than the that crazy
world say monetary system 1t would
entirely greenbacks back
The mistake people make is estimating
of silver in the Treasury belonging to the
is, fact, the property of certificate holders are
of standard silver in the Treasury vaults
of certificates outstanding the
this silver be used for the redemption
The Treasury holds silver bullion purchased un-
ag ains
has issued Treasury
the of silver for general redemption this
locked Consequently have silver greenback
redemption.
1t would be impossible increase stop
present deficits from bankupng Treasury prolonged
would down receipts financial
condition would further complcate panic
disastrous tariff law could the
Democrats and for the income
give that information 1t will folly think that
either England Europe would give their trade after
defrauded them of billions of dollars The of
Presidential repudation would make that impossible The
would therefore compelled silver stand
foreign which graspnp
Frye has notified the country Senate
will pass free coinage BILL it is puzzle know how
country exist without money 1t may
that free would not force to silver basis
before that could low in
finances that nickel basis would be about size.
In answering the fifth proposition says free
coinage would not force silver basis
would release the boarded gold permit pay off gold
contracts This Madison audi.
sleep Mr. delivered York speech
1t about much fres-water
and shows entire knowledge If all
the gold contracts became due the
might be trouble paying hem fortunately rapid
system of transmitting by mail telegraph debtors
to make small large of when
falls due at different periods
hardly worth while give space to Mr. Feu-
hold He nothing nothing and in sense
amounts nothing but deuded people who
tell fish stories times that they flavor of
catch that aonIies
fnancier They study bottom
facts Their aped intellect necessity To reach
fact they close their phantom to arrive
conclusion they Those who know anv
thing about free coinage who Bryans mi
producing speeches will meaning this
ton. But fools as well as