The Coconino weekly sun., 1896-09-03
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 q 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- We have coined $625. .3OO.000 worth of silver and S626, 100000 worth of gold"
 What have the other great nations coinedT 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 S112,OO00OO worth of silver and 100000 in silver and $S25. GOO, 900 in gold; Germany has only $215, 5,OO0, ,OOO in silver and $625, 100000 in gold; Russia has only $4S,O00,0OO in silver and $455,- COG, 900 in gold.'
 'Then we have coined about as much silver as all of them togetherW
 Not quite. These four great nations, with population of 249, 100000 people, have on hand SS76.OOO.OOO in silver, while we, with G9,0OO,OOO people, have $625,000,0OO in silver"
 "Where is our silver now?" asked the Popnlist. :. .. paying no interest. and dropping in value: Carlisle is begging the people to take it. freight free. but he can only get $56,0O00O0 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 silver! for silver. Coin morev
 And how much of our gold is in cir culatiOn?'
 "Why. every solitary dollar-S62G, ,OOO.- 900 worth of it. The banks only hold $12S.00O.0OO."
 "You don't say the nation has no gold at all?"
 "No gold of our own. We borrowed $20O,OOO,O0O from q few Americans at 5 per cent. and spent that running the government-and we've got to pay it back. Then Cleveland borrowed $60,- 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 $9O.00O.00O worth of bor- rOwed gold in the treasury. It isn't ours. It is borrowed to prevent a run on the treasury, with $1OO,OOO. .OOO in gold due the people besides. Oh, if we OS.OOO,0OO 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 list.
 ''Of course they did. They rang the bell and put out the red light against silver years ago. Since 1890 England has coined $146,000,0O0 in gold and only S14O00.O0O in silver; France has coined $13,O00,000 in gold and not cent of sl- yer. and Germany has coined S49OOO,- hln in Upll nd .,. ,;l. 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?'
 'We have So in silver for each person In this country, but the people only take 70 cents. They kick $S back into the treasury. England has $2.SS per person, Gern.lny has S4.35 and France SIP. but 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 Popuist.
 "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 ruptcd those nations their dollars are worth 90 cents. They have no gold. Gold fled with free coinage. It will do 60 again."
 ''China has no gold at all you say?"
 "None at all. China has $75O, GOO GOO worth of 5O-cent silver, but no gold: India has $15O,00O0O0 in silver, and no gold; Spain, wrecked by too free coin age of silver; has $166, 100000 in silver and S4O,000,OOO in gold. and Mexico has SJGWOWD in silver nnd SS 0O0 Ono ;, gold" ''
 How mueh money to the person cir cuiatcs in those free coinage countriesY' asked the Populist
 "China has $3.2G. while the United states has S2o: Mexico has $5; India you!" A"' there?'' "s' "Everyone. Every man has lost half his wealth; A man in Japan. Mexico. Chlna or India who was worth 5000 dnirty years ago is worth $500 today. The pay of the labOrer has not been changed. but a man who gets 10 cents a day Tn China, Japan or India really When went to China" cout;,uod Mr. Perkins, my letter of credit called Tor S2Ovo in American dollars. When I Eot mere iouaid SlO,3OO to my credit
 
 who has ever lost anything by the Amer. tcan dollar? Not a man. It is as good as gold. Our good government has mi gold under it. But free coinage won,d break the canei's back. It wonid ThD.,a hr;nu US to the level of Mexico and Indin.
 what would be the first resnlt of free coinage?' 'e'ui' oh All gold would hide away. Tho, . are now exporting annually 1OO00 OcN worth Of commercial silver and scIIino gnetsn to make dollar for 50 cents That is 32 to 1. The free silvor;ta. want their silver coined Nike our coineI silver. i6 to l, and handed hack to tha,n With the government paying a domhia value Tor silver exportation would cease anu tne government would l,y the min, CTS SsO0O0,OO0 for what they are now selling for $i0,O0O.O0O. Then the output would increase. We m'he9 1oo Ss2 s2,NoOO00 worth of silver na m iS92. In 1896 we would mine S2oo,OO0;00O, with the price dou- oleo. We would have to take if anl