Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1896-09-08
PERKINS ON SILVER.
The Only Eli Tells the Hollow
Tale of Free
Silver
He SIZES UP JHE. SITUATION.
Good Reasons Advanced for Being
on the Side of
Gold

~Are you in favor of both silver and
goidT asked n Populist of Eli Perkins.
Certainly" said Eli, every civilized
nation uses the two mctals-gold and
slvcr-but the United States is the only
nation that has coined as much silver
rs gold. We have been rank bimctal-
lists. We have stood by silver too long.
We have coined SG25,300,000 worth of
silver and $626, 10000 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 Sll2,000000 worth of silver and
So5O,00O,0O0 in gold; France has S493,-
100000 in silver and $S25 100000 in
gold; Germany has only S2i5,000,000 in
silver and $685., 100000 in gold: Russia
has only S1S,000.000 in silver and $780,
000.000 in gold"
Then we have coined about as much
silver as all of them together"
Not quite. These four great nations,
with population of 2t9.000.000 people,
have on hand $S16,000,000 in silver,
while we, with 69,0O0000 people, have
S625.000, 900 in silver
Where is our silver now?" asked the
Populist.
"Why, S5oS, 100000 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
take It, freight free, but he can only get
S56,000.000 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 silverv
They. say, The poor people are dying
for silver. Coih more"
nd how D,uch nf nur cold in al,
culation?"
why, every solitary dollar-S626, OO0.-
$12S,000.000."
"You don't say the nation has no gold
at alp
S2O0,O00,000 from few Americans at
per cent. and spent that running the
goyernment-and we've got to pay it
back. Then Cleveland borrowed S6O,-
100000 more from the Rothschilds and
the English at 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 $90.000,000 worth of bor-
rowed gold in the treasury. 1t isn't
ours. 1t is borrowed to prevent a run
on the treasury, with S100,000O00 in
gold due the people besides. Oh if we
had bought gold when we coined that
ScVo,Voo,oOO NoIlu OI silver now lying
ldle III the treasury, as England, France
Germany and Russia did, we would be
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-
list.
''Of course they did. They rang the
bell and put out the red light against
silver years ago. Since 1890 England
has coined $146,000,000 in gold and only
S14,000,000 in silver; France has coined
$13,OOO,000 in gold and not cent of sill
yer, and Germany has coined S40, 600
600 in gold and only S4.500,000 i'm silver.
They have been hugging the shore. while
our miners and Populists have piloted us
into deep water"
How much silver Is there for each
person in the big nations?"
1--WE have so in silver for each person
In this country, but the people only take
40 cents. They kick IS back into the
treasury. England has 81. SO per person
Germany has S435 and France S12, but
% of it lies idle and all silver coinage is
stopped, and their red lantern hangs
out"
Some nations have free coinage" sug-
gested the Populist.
''Certainly-and look Mt their cond;-
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 80 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 $3.50 GOO. 600
worth of 50-cent silver, but no gold !:
India has S150,000,000 in silver. and no
gold: Spain, wrecked by too free coin
age Of silver, has $166 900. 900 i'm silver
and S4O,0OO,OO0 i'm gold, and Mexico has
500, 100000 in silver and $4,000 600 in
How. much money to the person cir
cuiates IN those free coinage countries 2"
asked the Popuist.
"China has $326, while the United
States has $50; Mexico has So: India
you!' ~
"Who suffers from free coinage
thereT
Everyone. Every man has lost half
his wealth. man In Japan, Mexico.
China or India VINO was worth SiOO0
thirty years ago is worth $500 today.
The pay of the laborer has not been
changed, but man who gets 10 cents n
day in China, Japan or India really
gets >.
w ne1 4 WeEt 10 Cnlna, contained
Mr.. Perkins, my letter of credit called
for $500 in American dollars. When
got there found $4,000 to nv credit
in Mexican or Japanese dollars. Now
who has ever lost anything by the Amer.
lean dollar? Not man. 1t is ms good
Us gold Our good government has mt
god under il. But free coinage wonld
break the camels back. 1t would bring
us to the level of Mexico and India. /"
what would be the first result of
free coinageT
IAN gold would hide away. Then We
are now exporting annually $4,000. OO0
worth of commercial silver and selling
enough to make dollar for 80 cents
That Is 81 TO /. The free silyerites
want their silver coined like our coined
silver, 16 to 1, and handed back to them.
With the government paying double
value for silver expectation would cease,
and the government would pay the min,
ers SSO,OO0,000 for what they are
now selling for S40,000,000. Then
the output would increase. We
mined $S2.000000 worth of silver
in 1892 In 1896 we would mine
S200,000000, with the price dou-
kIad yVa WoulI hava IN take N md