Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1896-09-05
The Only Eli Tells the Hollow
Tale of Free
Silver
HE SIZES UP THE SITUATION.
Good Reasons Advanced for Being
on the Side of
Gold.

nation uses the two metals-gold and
silver-but the United States is the only
nation that has coined as much silver
as gold. We have been rank bimetal-
lists. We have stood by silver too long.
We have coined S625. 100000 worth of
silver and $626, 6,600,00O 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 S112000,000 worth of silver and
$55O,000,0O0 in gold France has $493,-
100000 in silver and SS25, 100000 in
gold; Germany has only $215. 100000 in
silver and $625, 100000 in gold Russia
has only S4S,000. 900 in silver and $780,
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 249000,000 people,
have on hand SS76.O0O,OOO in silver,
$625. 100000 in silver"
"Where is our silver now?" asked the
"Why, S5os, 100000 lies piled up in
the treasury. 1t is rusting in the vaults,
paying no interest; and dropping, in
take tax il, freight free, but he can only get
won't have it. They sling it back to
the banks, and then the free silver men
jump up and cry, we want more silver!
ney en- S,,sa!y say Gie Lhe 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, 100000"
you don't say the nation has no gold
Mt all?"
.No gold of our own. We borrowed
S2OO,0OO,000 from a few Americans at
8 per cent. and spent that running the
governmeent-and we've got to pay it
back. Then Cleveland borrowed $780,
100000 more from the Rothschilds and
the English at per cent, while our own
people were crying for it at 3 per cent,
and that We've, got to return in gold.
To tell you the honest truth, this nation
has got just $90.000.0O0 worth of bor-
rowed gold in the treasury. 1t isn't
ours, 1t is borrowed to prevent n run
on the treasury, with $1000O0,0O0 in
gold due the people besides. Oh, if we
had bought gold when we coined that
S5OS.OO0,O0O worth of silver now lying
idle in 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-
"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
S13,O00,0O0 in gold and not cent of sill
yer, and Germany has coined $4,000
0OO in gold and only S4,500,000 in 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?"
I'VE have 50 in silver for each person
in this country, but the people only take
40 cents. They kick SIS back into the
treasury. England has $2.SS per person,
Germany has $4.35 and France S12 but
80 of 1t 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 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 90 cents. They have no gold.
so again"
China has no gold at all you say?'
None at all. China has $75O,0OO. 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, 100000 in silver
and S4O.O0O,0O0 in gold, and Mexico has
gold" '0O' ~
How much money to the person cir
cuIates in those. free coinage countries ?'
asked the Populist.
Il. ln
you'll"
there?"
Everyone. Every man has lost half
ms 3If, wealth a man in Japan, Mexico,
China or India who was worth $1,000
thirty years ago is, worth $500 today.
The pay of the laborer has not becn
changed, but man who gets 10 cents a
day in China, Japan or India really
when 1 went to China" contioued
Mr.. Perkins, my letter of credit called
for 5000 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
as gold. Our good government has spUf mt
gold under it. But free coinage would
break the camel's back. 1t would brine
us to the level of Mexico and India"
What would be the first result of
free coinage" ''
"All gold would hide away. Then we
are now exporting annually $40. 900 OO0
worth of commercial silver and seIIno
enough to make dollar for so cents
That is 80 to 1. The free silyerites
want their silver coined like our coined
silver, 10 to /, and handed back to them
With the government paying double
Unlua for silver aXnnrtu finn
and the government would pay the min,
ers $80,000,000 for what they are
now selling for $40,000,00O. Then
the output would increase. We
mined $S2,000,000 worth of silver
in 1892. In 1896 we would mine
$200,000,000, with the price dou-
bled. We would have to take it and