The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1896-07-18

err | offered national bank notes,
greenbacks. silver certificates, gold
certificates, gold coin or silver coin,
or drafts on New York, they were
all called gold money, and | re-
ccivad in exchange two Mexican sill
yer dollars. III j handed out an
American silver dollar | received in
exchange two Mexican silver dol
lars. | had never thought very
much about the silver question be-
fore. and | asked whether the Next
can silver dollar contained less sill
yer than the United States silver
dollar, and was informed that a
Mexican dollar contained more sill
Yer than the United States silver
dollar. This was true not only at the
border, but at all points | visited in
the republic of Mexico. In the City
of Mexico, 200 miles south OF the
border, q United States oO-cent
piece would exchange for Next
can silver dollar, and would buy as
much AT any store. Drafts on New
York, issued by banks in the United
States, were even worth a small
premium, | had with me in the City
of Mexico draft drawn by the Saw
ings bank of East Saginaw, on a
bank in New York, and signed by
A. Schupp, for 800, which | ex-
changed for 200 Mexican silver dol
lars. On the other hand, | ran "a
cross one Mexican $40 gold piece.
coined at the Mexican mint, and
found that il was equal in value to
the United States money, or prac-
tically so. 1t would exchange for 40
Mexican silver dollars, 1t is not
very often, however, that one finds
Mexican gold coin there.
The question naturally arises,
why will a United States silver dol
lar buy two Mexican silver dollars,
when there is more silver in each
one of the Mexican silver dollars
than in the United States dollar?
The answer to this question is the
key to the whole silver question. 1t
is simply because the United States
silver dollar is redeemable in gold.
while the Mexican silver dollar is
only worth its market value for the
silver it contains. We have in the
United States about 800 million dol
lars of silver money, and over 600
million dollars of gold money, and
in addition about coo million dollars
Of paper money', all maintained by
the government on parity with
gold. This it seems to me- is true
Ii we adopt the free
coinage of silver on basis Of is to
| the flood of silver will be so great
that il will b. impossible for the
government TO maintain the parity.
| understand that even Mr.. Scripps.
If the Detroit News and Tribune.
admits that the free coinage of sill
YER would reduce the country to sill
;er recommendation, the same as in
Mexico. The 600 millions OF gold
you'd soon leave the country. and
With our present mintage capacity
{ would take ID wears to coin e.
lOugh silver to take the place OF the
800 millions Of gold now in circula-
ion. and the silver would only be
worth 30 cents on the dollar. as
with the present value Of
Dur currency. The avOWad object of
he free silver men is 20 increase
he amount OF money. bat it is plain |
o be seen that il would result in |
the currency more than |
I ind l IL
10Th gold and silver, bat in order TO |
,eep the silver on a parity with |
'old, Il Is necessary 10 limit the "a
Mount Of silver just as we do under
ur present system. There is plenty
i money in the country to-day. but
hose who have it are holding on to
t. until they see in what kind Of
money il is coming back to them 1t
Gems 20 me the cause OF the pres
Mt depression in business is largely
wing TO a want of confidence in
he future, and if the people vote
ecisively in November against the
rec coinage of silver at 10 to |, and
1 favor OF the present standard.
ntil an international agreement
18th the leading commercial nations
XeS the relative value of gold and
liver. we shall find millions of mon
y seehi ing investment all over the
)untry. Men who have the means
start new enterprises and thus
lrow money into circulation and
i've increasd employment to labor,
re simply waiting to see the re-
ats Of the coming election before
lcy make any more investments.
his and hating policy commenced
'ur years ago, when the Democrats
SCARED in favor of state bank cur
,ncy. and it has been intensified
Y the movement for free silver. -
, ,,i,, u a, C,,,r;nr Jaco1l