The herald., 1896-07-19

come to our mints. What then7 It will
be coined with 4121z grains to the dollar
and bear the ratio of Is to /. 1t will not
be bought by the United Ctates, but the
bright new dollar will be turned over to
the owner. Then what will he do with
II? Not give 1t to US certainly. But our
stamp will do 1t no good three marine
leagues from shore. SO he must spend it
for cotton. wheat. pork. petroleum and
other farm products and send them to
| Europe to be converted into a coin he
can use at home. VIII this not be a
great blessing to our farmers? All of
the silver coinage Of France, Belgium.
italy, Switzerland. Greece, Spain.
Netherlands, Russia, Central America,
south America, Cuba and Hayti is based
on the ratio of 151a to ]. and to bring that
Tor recoinage in our mints at 16 to 1
they would lose three cents on each dol
lar, besides having to pay freight and
| cnarges both ways across the ocean. We
then would get none of that silver. Then
our only fear would be Mexico. AS her
ratio Is l6h to ] some of her bullion
might seek our mints, but If any excess
mlgnt arise from that source, small
tariff on her bullion to make II the same
as ours might be levied
from these facts. and they cannot be
controVerted, the United States will not
oe tne dumping ground" for much for
! eign silver.
But Will not free silver drive out all
our gold?
During the five years from 1873 to 1878.
Wneh not dollar of silver was being
coined, the director of the mint in his
| report says we exported 1926, 900 900 more
! OF gold than we imported, and that dur
ing the eleven years of the Bland Alli-
SUI act, while we were coming from
| 2,0O0,000 to 1000, 600 silver dollars per
month.we imported 1927, ,00O. 900 more gold
tnan we exported AT the time silver was
demonetized, in 1873, we held in the
treasury S72,2S1,6S7 in gold. This sum
accumulated, and on June 30. 1873. we
nad $2i3 1897 in gold. On June 80, 1890,
our gold had risen up to $685., 563 o29. thus
showing a gain of $140,9l 200 gold in the
nVe years when not a dollar in silver
was coined, as against a gain of $4S2.-
! 3o5,ooz gold in the eleven years while
| nundreds OF millions of silver were pass
ing through the mints These are incon-.
trovertible facts, and they certainly do
not SHOW the coinage of silver tends to
drive gold out of the country.
AS to the stock of gold in the United
states on June 30 1890, was $685. 563, ,129,
| and on August l. 1885, was $617, ,797, ,966,
IT proves that we had $77, 765, 1863 less gold
three years after the Sherman law was
repealed than while it was in opera
| ton.
Are the public anxious for more sill
Yer and Will II enter into our circula ton?
From the report of the secretary of the
( treasury OF April l, 1885, there was $617,-
| 9979 966 of gold In the United States, and
there was of this gold $4S9, ISL, sos in ac-
tual circulation. By the same report
there was in the United States 1925. $685.,
S99 in silver, and there was $55S, ,524, All
| in circulation. Thus, as a fact, we have
$69,312,972 more silver dollars or their
representatives in circulation than we
| have of gold
While we have in the treasury only
1886, 743,53S of silver coins yet we have
outstanding certificates of s440, 1853, 492.
Hence it is evident that the people are
still so fond of the dollar Of their dad
dies'-the dollar established by Wash
ington, Jefferson and Hamilton-the
dollar of our constitution--the dollar
| containing 4121a grains of siyer-the
| dollar which was made the unit of value
| before the first coin was struck in Amer
lea, and has held it's own with gold
up to 1S73-that they are crying for more
| of them. For fifty years, from 1928 up
to 1873, the commercial value of silver
ranged from 1878 to 1892 to /, while the
| coinage value for that time was 16 to
1. Holland in 1S47, and Austria in 1857,
after the mines of California and Aus
traiia has added millions to the worlds
| stock of gold, demonetized gold because
| IL was StltlilS tOO premium anu 1ooihS
| its value as compared with silver.
Since then Germany has demonetized
| silver, and Austria is making a scram-
BILE to buy in the markets of the world
Rold -eRough. .to. get on On gold basis: It Il
in South Africa may yet cause a clamor
for its demonstration.
But, says the ST. Louis platform of the
Republican party, and it is echoed by
the goldites of the Democratic party
we are in favor of free silver when the
| commercial nations of Europe will agree
| to 1t. Certainly not many intelligent
| men will be fooled by such proposition.
England, being the largest creditor
nation of the world, holding millions Of
| bonds and debts against all other ma
| tions. the interest on which alone makes
| herr a good income, and being compelled
| to buy abroad nearly all her breadstuffs
and raw Mmaterial, wants cheap markets,
and to have cheap raw material markets
| she must control the gold of the world
! Hence England shouldinot and will not
| consent to an international agreement
| to free coinage at 16 to /.
The ST. Louis platform takes no more
risk in,promising free silver when Eng
land will agree to it than did the con-
rederate government take when it prom
ised to pay all it's notes and bonds in gold
six months after treaty of peace with
the United States. The risk in the two
cases was about the same.
Are we able to go into free coinage
alone?
To ask such a question is almost an
insult to the descendants of those who
bled at Bunker Hill, Kings Mountain and
yorktown When English vessels load
ed with taxed tea came into Boston har-
Dor in 1913 did Adams and Quincy ad-
wise the people to wait to get the consent
or New York or Connecticut? No. They
seized the cargo and threw it overheard
into the sea. When the English sloop of
war bearing the odious stamp paper for
North Carolina arrived in Cape Fear
river did the people of that state wait
to see what South Carolina or Virginia
should say about the propriety of resist
ance? No! They marched in a BODY
to the home of Gov. Tryon, the British
governor and told him they would burn
ms mouse and kill him If he attempted
TO !and the paper. When our fathers.
early after the revolution, established
mint did they ask England's advice or
consent as to the kind, of a financial sys-
tenn we should adopt for America? Nav.
verify! In our weakness, in our child
hood as republic, we acted on ounown
Judgment and at this day, after becom
ing tne most advanced, the best educat-
ca. the most military people on the globe.
40 we not dishonor our ancestors by
waiting for English lords or German
oarons to settle our financial policy?
Ii yorktown and New Orleans did NOT
sever us forever from England let us
nave new declaration of independence
oy daring to establish our own system