The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-09-20
-. ra,tor of the Evening Post.

~. railway Age, published at Chicago
80 August n, sends out Sound
..v supplement" which has beer
s,.t.erci broadcast among railway en-.
.,-vos appealing to them to vote for Nc.
49, and Hobar; and sound money.
-. sound money supplement is fun OF
's,.a fasehoods, suggestions which are
.--,othly made TO appear "a facts, and
'-,.ss to the selfish interests of the In
sr+sual in place of an open discussion
National Issue, the decision of which
..oion day VII he for veal or Woe 10
=. masses of our land. and either make
a hhor the suhseryieni slave to tbs
-.,o,,i corporations of the land or place
-, hbur upon n higher wage scale.
~. writer uses considerable skin In
IunaIattng a great and overpowering de-
=, 10 post the railroad employees on
d =. dangers to be encountered and the
s.s,srs to be reaped by the adoption OF
| A.. Collage of gold and silver at "a ratio
AS 10 !, and 1t Is not 10 be doubted that
,rmaro,s railroad men Will be m.sled
| "a uerhaps Induced to pace their birth
s,.s In the hands OF the English railway
Aodhoder on election day.
A q sample OF gold standard argument
| tp following Is presented;
Tho total wealt tn of the United States
,.aay ~ about S53, coo. 90, 900 The proper
don OF this wealth which we owe ~ Eng
nod 4, e., which Is money invested here
M Establishment, Is variously estimated.
Tn usual statement. unul TIE recent
erss compelled more accurate iavcst ga
nm. has been that oae-f.fth Of our wealth
\ represented by debt TO Englahd-or
sbout 81, OoO. oo0. oo0, THIS is a statemsnt
vhch Is commonly heard today. 1t Is
rfo6aby very erroneous, and the lates /
"a best estimates pace ii much lower.
N very lowest estimate which. We be-
lave, has even been made IS that one
Art!e,h OF our wealth is represented by
~ 10 England 1. e., about $500. wv. wv.
q, 10 take this lowest possible estimate
y being the most favorable to the silver
mans side OF the case.
Tho average rate of interest on the
~, Is per, cent; The annual interest
nyment on the whole debt. therefore
about 3leoC0O,coO. II we go on silver
bAss Of II to l Othe London market ratio
bkag 90 TO u, It win take $20j,000,o0 an
rially to pay this interest instead of as
how 1loo,ovJOOO. That Is to say that we
ykr more under free silver than we do
bow for interest charges alone.
but the principal of that debt Is also
Snsantly maturing. 1t Is fair to assume
tho. the average investment Is IN thirty
rar bonds (t ranges al! the way from
hrty days to 100 years.. and that one
ne-teth OF the amount VIII be maturing
srNy year, or sG6 0l0, 90 To pay this
lmount each year in our deprecated s!l-
~ dollar Will take $l32 900 oo0
The free coinage OF silver, therefore.
would necesstate the ending to England
lat year OF about s332, 900, 300"
The reader Will please note how solicit
NJ the Railway Age is to reduce the
naded debt owing to England. After
satng that one-flfth of all the wealth of
these United States was under bond TO
Lngllshmen, 1t by weak sophistry at
bmpts to lower that debt from 81. oo0. 0oo.-
N to 5000. 600 and all for the purpose
o. making it tho most favorable for the
silver mems side OF the case"
In the second paragraph the railway en-
poye should noe that, with the rate at >
pr cent. the interest on the $4,000 900 900
would be 5000 100 900. but to he lenient with
We silver mems side ii is !gured by the
Railway Age Mt $4,000, O0o; then the as
toundine assertion is made 'if we go on
Gver basis of l6 TO /" that the London
market ratio being 81 to T. the people will
% compelled to raisa double that amount
" t1VJ0O 900 TO pay the interest annually.