Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1896-08-13
The Only Eli Tells the Hollow
Tale Of Free
Silver.
HE SIZES UP THE SITUATION,
Good Reasons Advanced for Bcino
on the Side of
Gold.

Certainly" said Eli. severy civilized
nation uses the two metals-gold and
silver-but the United States is the only
nation that has coined as much silver
IFS gUfIi. We have been rank bimetal-
lists. We have stood by silver too long.
We have coined $685., 300, 900 worth of
silver and S626, 100000 worth of gold.''
what have the other great nations
coined?" asked the Populist.
''Why, they have coined less than half
as much as we have. England (the
United Kingdom) has coined and has on
hand $112.00O,00O worth of silver and
S55O,OOO,OO0 in gold: France has S493-
100000 in silver and $685., 100000 in
gold; Germany has only $215,OOO.OOO in
silver and S625.000.0OO in gold; Russia
has only $4S, 100000 in silver and $455-
100000 in gold.'
"Then we have coined about as much
silver as all of them together?"
''Not quite These four great nations,
with a population of 249,0OO,OO0 people,
have on hand SS76,00O,O0O in silver,
$625. 100000 in silver
''Where is our silver now?' asked the
'Why. S5os,0oO,O0O lies piled up in
the treasury. 1t is rusting in the vaults,
paying no interest, and dropping in
value: Carlisle is begging the people to
$56,000,00O in circulation. The people
won't have it. They sling it back to
the banks, and then the free silver men
jump up and cry, we want more silverH
They say, The poor people are dying
.And how much of our gold is in cir
culation?''
''Why, every solitary dollar-S62G, OOO.-
600 worth of it. The banks only hold
$12S,00O,O0O."
''You don't say the nation has no gold
at alp
$2OO,0OO,000 from few Americans at
3 per cent. and spent that running the
government-and we've got to pay it
back. Then Cleveland borrowed $780,
100000 more from the Rothschilds and
the English at 4 per cent, while our own
people were crying for it at per cent,
and that we've got to return in gold.
To tell you the honest truth, this nation
has got just $90.OOOOOO worth of bor-
rowed gold in the treasury. 1t isn't
ours. 1t is borrowed to prevent run
on the treasury, with S1OO,OOO,OO0 in
gold due the people besides. Oh. if we
had bought gold when we coined that
C$5OS. 100000 worth of silver now lying
idle in the treasury, as England, France,
on top today. We wouldn't be the
laughing stock Of Europe then"
"Did England and the. other nations
stop coming silver?' asked the Popu-
cot course they did. They rang the
bell and put out the red light against
silver years ago. Since 1890 England
y has coined STAG, 100000 in gold and only
$14. 100000 in silver; France has coined
$13,OOO,OOO in gold and not a cent of sill
yer, and Germany has coined $1,000,
600 in gold and only S4,oOO,0oo in silver
They have been hugging the shore, while
our miners and Populists have plloted us
into deep water"
GLOW much silver is there for each
person in the big nations?'
''We have SO in silver for each person
in this country, but the people only take
20 cents. They kick So back into the
treasury. England has S2.SS per person,
Germany has $435 and France $12. but
50 of it lies idle and all silver coinage is
stoned, and their red lantern hangs
OUT
"Some nations have free coinage" sug-
gested the Populist.
"Certainly-and look at their condi-
tion! They are bankrupt Our silver
dollar is still worth 100 cents in gold
anywhere on earth But in the free coin
age nations, like Mexico, Japan, China
and India. where free coinage has bank
rupted those nations their dollars are
worth so cents. They have no gold.
Gold fled with free coinage. 1t will do
SO again.
"China has no gold at all you say?"
"None at all. China has $750,000,O00
worth of 50-cent silver, but no gold;
India has S15O.OOOOOO in silver, and no
gold; Spain, wrecked by too free coin
age of silver. has $166,0O0.O0O in silver
and 100000 900 in gold, and Mexico has
) $5A,0oo,o0o in silver and so,ooo,ooo in
gold.''
How much money to the person cir.
culates in those free coinage countries !!
asked the Populist.
"China has So 26. while the United ,.
ssWho suffers from free coinage
thereT' :,
..Eyeryone. Every man has lost halt
his wealth. A man in Japan. Mexico
China or India who was worth $1,000
thirty years ago is worth 5000 today
The nay of the laborer has not been
changed, but man who gets 10 cents 8
day in China, Japan or India really
gets :, j. rh;na n+;od
Mr.. Perkins, my letter of credit called
for 5000 in American dollars. When
GOT there | found $4,000 to my credit
in Mexican or Japanese dollars. Now
who has ever lost anything by the Amer
lean dollar? Not man. 1t is as gooo
gold under it. But free coinage would
hreak the camel's back. 1t would bring
ms TO the level of Mexico and India.
ssWhat would be the first result OF
free coinage?' ~
s.All gold would hide away. Then we we
are now exporting annually S10,00O.0Ot
worth of commercial silver and selling
enough to make dollar for 80 cents
That is 80 to l. The free silverites
want their silver coined like our coined
silver, is to 1, and handed back to them
With the government paying double
value for silver expectation would cease
a .,ra $4,000. 900 for what they are
rls selling for $4O,OOO,0OO. Their
mined ,nI $4,000, 600 worth of silver
=; nslg 100 In 1896 we would mine
$500. COO. 900, with the price dou
Iled. We would have to take II ano