The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1896-08-04
A FLOOD OF SILVER.
Portland Concern gives Its Employees
Lesson.

Fifty-Cent Mexican Dollars Paid Out
What the Lesson Teaches.
| On Saturday evening a well-known
business concern in this city gave it's
employees lesson in finance, in view Of
the approaching conflict over the silver
question They had sent for large sup
ply Of Mexican silver dollars, which
have in them several more grains Of sill
YER than there are in the American dol
lar. With these dollars they paid off
their help, giving them two Mexiuan dol
lars for every one American dollar due
them. Each employe received with his
pay this statement,
TO OUR EMPLOYEE.
The company pays your wages this
week in Mexican silver dollars. We
bought them in the open market at
cost of 55 cents each. We ay them to
you at the rate of two for one of the
United States money. When you come
to pay your bills with these dollars, you
will have a good illustration OF the real
value and actual purchasing power of
the 42O grains of silver contained there
In.
The United States dollar contains
412 1-2 grains of silver, which Is worth,
when melted into bullion, fraction less
than 90 cents. Our silver friends pro-
pose to allow the whole world to bring it's
silver to the United States mint have
it coined free of charge into pieces of
4l2 IL grains each. stamped Gone Dol
lar" Sin God We Trust,'' and make
them legal tender for all debts public
and private, They claim that what this
country needs Is a rise In prices. II this
plan prevails, there Is likely to be one.
How long do You think the purchasing
power OF such dollar would be greater
than it's aotural yalue2 How long before
| it would drive all other money out of
| circulation? Will wages and salaries
rise as last and as much in proportion
as the things that have to be purchased
with them?
Have you cry money on deposit in q
in silver If that becomes the standard
of value. If you hold life insurance
policy or membership in some benefit
association. do you wish your family to
receive the amount thereof In 60-c0nt dol
lars2
1t rests with you and the other Epeople
of the United States to determine at the
SOiAAAS AsaJloAo1 OAOOU1OA WhOuAS1 uuO
present gold standard of value shall be
maintained, and the dollar which you
receive be worth 100 cents all over the
orld. or whether we shall enter upon
a career Of folly, reputation and dishon-
esty, the disastrous and ruinous conse-
quences Of which cannot now be foretold.
The men found the silver very bulky
and had to carry it to the banks and sell
it. There the dollars did not bring quite
80 cents each, so that the company will
probably make the difference up. They
did not wish their employees to lose, but
only wished to give them an object les
son.
Il is understood that Mexican dollars
are being used for this purpose in many
portions of the country, particularly the
South.
OF course the only reason why the
American dollar, which has several
grains less silver than the Mexican buys
100 cents worth where the Mexican buys
only so cents worth. is because the Unit
ed States government has made it policy
practically to redeem the silver dollar in
gold, when required.
Bryan and Sewall want to do away
with this policy.