Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1896-10-24
THE NATIONS PROSPERITY.
Figures That Show II 20 DO Only at
Times When Silver IL Recognized.

There have bven four debt paying
eras In our national debt since 1866.
The fret era was from 1866 to 1873,
ard we call II the ''greenback era'','
because the currency was greenbacks
and there was but little gold or silver
In circulation.
The second from 1873 TO 1879 is the
era in which minis were closed against
silver coinage.
The third from 1879, when we were
coming silver to 1891, when we ceased
coming it under the Sherman act, and
this we call the ssera of silver"
The fourth III from July, 1891, to
November, 1895, after silver coinage
had ceased and we were on a gold
basis, and this we call "the gold era.',
"a HOW MUCH PAID.
In the greenback period from 1865 10
1878, we reduced our debt from 49,
773,236,l 73 to 2 ,234.4S2, 99S, having
paid on 1t 1888, 753. 1870. This was
done in the six years while ona paper
basis.
Silver was demonetized in 1878, and
ut the time our debt was $2,234,4 S2,-
993. How much did we pay on the
debt frcm 1873 to 1892 Instead OF
paying a dollar on the debt, we added
10 1t $l06, 1884 ,239, making the debt 10
1879. $2. 340,567,2 32.
This was what was done in the era
when we coined no silver.
In 1879, under the Bland act, the
minis began pouring out silver dollars,
and coinage till July, 1891, though the
Sherman act was not actually repealed
till November 1st, 1898. Let us set
how eur debt Jared during these years
when our minis were flooding the coun
try with silver.
Our debt in 1879 was so. $40. SCI, 232,
and in July, 1891, when the minis
closed again, was 81, 5l6. 96I, 500, hav
ing been reduced in that period by the
payment of $793, 500 1897.
This is what the silver age did tc-
ward the reduction Of our public debt.
At the closing Of our minis to silver,
July, 1891, our debt was S1,546. 961,'
go, and our record brings US down to
November LIST, 1895, four years.
These four years we have been on o
gold basis and they should have reduc-
ed the debt very largely. But instead
Of reducing the debt, they added to IL
$170,520,0 84,- making the debt on No
vember 1st, 1895, $1,7l7,48l,179
These are facts that no gold statisti-
clan can dispute.
Paid on our debt from l866-1S73 In
the greenback era. 1888. 1853. 1870; paid
during the five years when silver was
demonetized, 5000, 900, 900; added to
The debt in that time, S106, 1874 ,239;
paid during the silver era FROM 1879 to
July, 1891, $793, sos, 537; added dur
Ing the gold era, from 1891, to Novem
Der LIST, 1895. $l70,520,I 1874; paid on
the debt during the gold era, 5000,
600, 900.
From the above the most ordinary
reader will see that during the five years
after silver was ~demonetized, we piled
up Sl06, 1874, 239 on our debt and d1r-
ing the four years after our miuts ceas-
ed to coin silver we piled up $780,
500, 084 on our debt and the natural
inference is that if we aver intend to
pay our national debt silver must bear
its part to do this; it must have equal
rights with gold at our minis.
Not one dollar has ever been paid on
our national debt while silver was
denied coinage at our mints.
(signed) JOHN SHIRLEY WARD.