The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1896-10-17
WILHELM,s REPLY.
lie Accepts our Oner 10 Present His Au-
thnrities 20 nIIerRlh" Keaders.

lie Accepts Our Oler to Present His Au-
thorities to "Herald" Readers.
To the Editor Of the llvENlNG HERALD:
/ SIR:-Nty attention has been called to the issue
. of your paper Of October 18th, 1896. There are
several errors iu your presentation OF my posi-
/ tion that YOU should correct.
/ First YOU allcgc that referred TO four panics,
as the result of the same causes; ] only called
attention to three. viz the panic oi 1917 TO lsbl,
/ the panic of 1873 TO ISIS, and the panic OF ls'3
/ io lSgG did refer to the panic in England and .
Australia I'm 1890 to illustrate that when the rest
I of the English speaking people were nuanclHlIy /
] distressed. we hardly iclt the shock by reason /
] of the increased volume of money furnished by /
the sherman Purchasing Act, of 1880.
/ Second, ! have never refused 10 accept ]
/ challenge to debate with anyone on the money /
question, not even MIR Locscr did insist, /
though, that Mr., Locscr should get an endorse .
mont from some one. have in my possession /
now a letter from ; b. Edwards, County Chair .
man, endorsing m. Immediately upon re- /
/ rcipt Of that letter wrote to Mr.. Locser that
had received such a letter from Mr.. Edwards,
and that was prepared to meet nm III loiht de-
bate.
cucc was that every panic OF any consder9be
duration in this country during the last hall
century, was caused by a contraction ol the
volume OF money, and that we never got any
relief from panic until we enlarged the volume
Of money. You want to know my authority
for the facts asserted in that proposition. ] re-
fer you to the United States Senate reports, No
z35, page l33 coinage laws Of the United states
You will find there that they give as the value
$4,000 From 1883 there q gradual decrease
iu the worlds output OF gold. In 1887
there was an output OF gold OF only
| To the decrease of the United States production
from SG5,OOOOOO in 1883 to Sj5,0J00O0 in 1851 In
/ 1853 the United States coined S55,OOOOOO of gold
and 80 OOOOOO Of silver, or "a total in excess of
sfi 100000. The total coinage OF both gold and
silver for the years 1857 and 1855 was Ss7OOOO0
or less than an average of Sii,OOOOOO for each
,,pnr / submit that n curtailmcnt of coinage
from sci 600 900 to 1900 600 proves everything
, tbnt asserted bearing upon the fact of the real
nrodurtion of cold used Tor coinage being less
| in 1857 than i'm 1853 aud also the volume of
| money being less in proportion in 1857 than it
,yos in ls53 rspcciallv i'm the light of the fact
. thnt thcrr was "A tremendous emigration taking
! mace from lsts to ls5G for the reason that all
i,,,,,,,,,i.t a. md stntsticiuns upou these ponts
- ,I,ac thc GgI,rcs mon the increase or decrease
i,,.r lo,,itp Nou find also bv the report of the
- per- gir,' t,, trcoolr, "f isG3 fbat the cir
10 1,i,,,, of tl,r rnrutry from Februarv 1851 to
& t,,,,,.r,. 4 is7u .hrnuL from S2lt Gss 500 to
ia 95y 7Ii The money lost was sjgOO0OOO
n,T Tyo, dnu,. tbnt there was the Act Of 1857
da.trGyinl, the legal tender quality of foreign
iI,,,'rI,tn D nIir editorial neither alIirm~ nor
Y denies TINT uroIy,sitiuu You do make inquiry
4 of me ms TO the $3.50 900 900 of foreign coin that
~ I iri,., fr,,.,, ,,Itr shores I,,- reason of that
E"isiotio, rio tnf.ii coinage of silver i'm the
P. --itI .t,,t ,,- a. --- ,,r. ,l,gut eilOO1g 900
Il ,t ,.' fg,r,. IRON, the report of Hon j Il.
- i-,.i,r Jir.rt,r nf thr mint for the wear
= i.5s Nv statement ms to the -I-OUOC. 900 was
o nothing more chan ana approximation. ] stated
D. Gr, Er at i,.-t stated m other places that it
o.. estimated tIIHt th,r,. were from slOONO1OO0
w., som lrII I'M ol forrit,, coin dpmouitizcd by
.L, Art of 1851 The extremely conservative
.,,.ritr. m tl,, silver sid, place the figures nj
I'M aIomupD 0r0 tho-c who are not so conservative,
..f... ,l,.. t..,,r.. ..+ som OAl .14 No one can
by ,1'.,t., Is. 7rn,np.fr,t. thg exact amount o
ID ri CON, tIi,t was being usc,l Ms legal tender
80 luI.-I C'. '', ,Ii,s Nrt dc-trT,,iut, th,
~ ,I t.,,., ,r,lii,. G,,..rrd tL, coins of Peru
IL I, -ii,i, NT'yi,,,p,id -paiu
1t. II,, IN, i,i. Cn, Financial school " Dag,
ru - Eiyf1 tg ne '"'G @ S1, ''y tha m Fr ]
~ debntr. when IIorr questioned his figures, j,