Herald and tribune. [volume] (Jonesborough, Tenn.) 1869-current, 1896-09-09
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.

- tpthiyt niO AIhf vel lNitlAt
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 $685.. 300, 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 1.-THE
United Kingdom) has coined and has on
hand $112,000,000 worth of silver and
$550, 100000 in gold; France has $493,-
100000 in silver and 1926, 100000 in.
gold; Germany has only $215, 600, 1000 in
silver and $625,0 900 in gold; Russia
has only $4S,000,OOO in silver and $780,
100000 in gold"
"Then we have coined about as much
silver as all of them t~ogether?'
Not quite. These four great nations,
with a population of 5000, 900 people,
have on hand 1876, 900 in silver,
while we, with 69,000,000 people, have
$625, 900, 900 in silver"
Where is our silver now? ?" asked the
Populist.
the treasury. 1t is rusting in the. vaults,
paying no interest, and dropping in
value. Carlisle is begging the people to
$~56,0O0,O00 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!'
They say, The poor people are dying
for silver. Coin more!
And how much of our gold is in cir
culationT
"Why, every solitary dollar-$626, O00,-
600 worth Of it. The banks only hold
$12S, 900. 000."
"You don't say the nation has no gold
at alp
mo gold of our own. We borrowed
$200,000,0 900 from a few Americans at
3 per cent. and spent that running the
government-and we've got to pay it
back. Then Cleveland borrowed $780,
OOO,0OO more from the Rothschilds and
the English at A 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 500, 000, 900 worth of bor-
rowed gold in the treasury. 1t isn't
ours. 1t is borrowed to prevent a run
on the treasury, with $10O, O0O, 900 in
gold due the people besides. Oh, if we
had bought gold when we coined that
$0OS,O00,000 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 STAG, 900, 600 in gold and only
$14,000,000 in silver; France has coined
$13,00O,000 in gold and not a cent of sill
yer, and Germany has coined $4,000
600 in gold and only $4,000, 900 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 eacL
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 SIS back into the
treasury. England has $2.SS per person.
Germany has $4.35 and France sic. but
80 of it lies idle and all silver coinage is
stopped, and their red lantern hangs
oqts
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 90 cents. They have no gold.
Gold fled with free coinage. 1t will do
so again."
China has no gold at all you say?'
None at all. China has $3.50 100000
worth of 50-cent silver, but no gold:
India has $150,O00, 900 in silver. and no
gold; Spain, wrecked by too free COIN
age OF silver, has $166, 900, 900 in silver
and $~4O,OOO,0OO in gold, and Mexico has
So0;ooO,O0O in silver and 5000, 900 in
How much money to the person cir
cuiates in those free coinage countries ~
asked the Populist.
China has $3.26, while the limited
states has $25: Mexico has So: India
900, and Japan "a. This is poverty for
"Who suffers from free coinage
Everyone. Every man has lost hale
ms wealth; A man in Japan, Mexico.
Cnina or India who was worth $1,000
Inlrty years ago Is worth $500 to-day
The pay of the laborer has NOT becn
changed, but a man who gets 10 cents n
gets 5. 'e"''
When l went to China" contained
Mr.. Perkins, my letter of credit called
for $500 in American dollars. When 7
got there | found $4,000 to nv credit
in Mexican or Japanese dollars. Nnw
who has ever lost anything by the Amer
lean dollar? Not a man. 1t is MS good
as gold. Our good government has mt
gold under it. But free coinage vouuld
break the camel's back. II would bring
us to the level of Mexico and Indin. "s
What would be the first result of
free coinage"
"All gold would hide away. Then we
are now exporting annually $1O.OOO.OO0
worth of commercial silver and selling
enough to make a dollar for so cents
That Is 32 to /. The free silyerites
want their silver coined like our coined
silver, 10 to l, and handed back to them
With the government paying n double
value for silver expectation would cease.
and the government would pay the min.
ers $4,000, 900 for what they AFRO
now selling for $40,OOO,00O. Then
the output would increase. We
mined $50, ZOO, 900 worth Of silver
in 1892. In 1896 we would mine
5000 00, 900, with the price dou-
hled. We would have to take It and