The Mason County journal. [volume] (Shelton, W.T.) 1886-1927, 1896-10-02
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.

gold: asked POpulist of Eli Perkins.
Certainly" said Eli, "every civilized
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 $625. 900 worth of
silver and $626, 600, 900 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,OOO,OOO worth of silver and
$55O0OO, 900 in gold; France has $685.
100000 in silver and $685., 100000 in
gold: Germany has only $215, OOO,O 900 in
silver and 1925, 100000 in gold; Russia
has only $4S,OOO,0OO 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 Il population of 249, 100000 people,
have on hand SS76.OOO,OOO in silver
$625. OOO. 900 in silver"
Where is our silver now?' asked the
why. $5Os, OOO,O 900 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
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!
They say, The poor people are dying
for silver. Coin more!
And how much Of our gold is in cir
culaticnY'
why. every solitary dollar-$626, OOO,-
- L
$l2S.OOO.OOO."
''Yon don't say the nation has no gold
at all?'
$20O.OOO.OOO from Il few Americans at
! per cent. and spent that running the
gOvernment-aDd we've got to pay it
back. Then Cleveland borrowed $780,
OOO.WO more from the ROthschilds and
the English at 4 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 $9O.0OO.OO0 worth of Dor
rOwed gold in the treasury. 1t isn't
ours. 1t is borrowed to prevent run
on the treasury. with $1OO,OOO,OOO in
gold due the people besides Oh, if we
had bought gold when we coined that
x30S.0O0.OM 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-
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.O00O 900 in gold and only
%14.OOG.OOO in silver; France has coined
$13.OOO.OOO in gold and not cent of sill
YER and Germany has coined S49. 600,
600 in gold and only $4.5OO.OOO 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
20 cents. They kick So hack into the
treasury. England has $2SS per person,
Germany has S4.35 and France ST. hut
SO 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 at their condi.
ton! 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 dc
SO again."
China has no gold at all you say?'
None at all. China has $3.50. 600 OO(
worth of 5O-cent silver. but no gold
India has $15O.OO0,OOO in silver, and ne
gold; Spain. wrecked by too free coin
age of silver. has $166, 900. 900 in silye
and S4O.OOO,OOO in gold. and Mexico ha,
$50. 100000 in silver and $4,000, 900 il
gold" -
How much money to the person cir
culates in those free coinage countries 2
asked the Populist.
''China has $326. while the Unite,
States has S25: Mexico has S.: Indi
1888: and Japan ST. This is poverty fo
you!'
who suffers from free coinag
therey'
Everyone. Every man has lost hal
ms wealth.; A man In Japan, Mexico
China or India who was worth 500
thirty years ago is worth $500 TODAY
The pay of the laborer has not bee
changed, but man who gets 10 cents
day in China, Japan or India reall
gets 5.
when went to China" contiaue
Mr.. Perkins, my letter of credit Gale
got there l found $4,000 to NV cred
in Mexican or Japanese dollars. No1
who has ever lost anything by the Ame,
lean dollar? Not man. 1t is as goo
as gold. Our good government has m
gold under it. But free coinage Woni
break the camel's back. 1t would br;n
us to the level of Mexico and India.''
"What would be the first result q
free coinage?"
''All gold would hide away. Then W
are now exporting annually $4,000. OO
worth of commercial silver and sellin
enough to make dollar for SO cent,
That is 80 to 1. The free silverite
want their silver coined like our coine
silver, Is to /, and handed back to then
With the government paying a doub]
value for silver expectation would ceas,
and the government would pay the mil
ers $8O,OOO,OOO for what they Al
now selling for $4O,OOOOOO The
the output would increase. "
mined $50, 100000 worth of silve
in 1892. In 1896 we would mir
5000, 100000, with the price do,
bled. We would have to take it an