The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1899-03-10
A WELSHMAN'S ADVICE.
Writing from Peri'h""' "aies' lie
shows the situation In indin-A
Les.on for America.


,,r When the monetary conference
!, Hrussels separated in December,
t.s wrote at once 10 the Indian gov
,rme,it and suggested the following:
.shut the mints of India 10 the pub
N, ana prohibit the import Of silver
either as coins or as bullion into India
nv anyone except the Indian govern
r,ent But | also added: "Let the
government buy silver, bring il into
Irdia. and coin it into rupees 70 the
same extent as it had been doing for
fle preyious six or seven years, and
nay out these rupees for the expenses
~ Government" If that had been done
India would have been much better than
she Is to-day. IN the five years lsss to
1873. the Indian minis coined si2,OO0,-
Gao Of rupees or more than iCO,GOO,00O
v,arly average. II she had bought sill
,er IN Australia and New York and
naid for it with Indian tea She would
nave increased her exports and the
Government would have made a great
uroht by coming l00000C00 rupees
every year. Instead of that, she left
her ports open to silver, and "other
people" tn0t the government import
ed~ silver in 1893, 1894, 1895. 1896. 1891
eaual 10 5j2. oe7.74O rupees. and she
only exported" silver equal to o9.4s0,-
.i.0 rupees. Therefore she absorbed"
I'm those five years 45300s670 rupees
wDaht M silver. The profits on that
silver went into the pockets Of
Tie importers. But If my plan Lad
BEEN followed the profits would
have gone into the treasury The
Silver would have cost sod. God.
nri and 27tad or an average Of less
than alh d., while India would have
-aiael x into rupees for cod. per ounce
Whatever profit tie treasury made
would have gone TO reduce the loss on
government remittanccs 10 England,
which amount TO from & 100000 to
1itHH00J sterling every year. But
aart.her leakage" would have been
I0rQed' that is. secret coinage in
luia which there is no doubt has been
very largely done since the shutting of
the minis. Indian rupees are not
first class" and there are lots OF trav-
cling slversmiths who know how TO
Hork silver and make coins. But even
that is not needed. for IL the people
could buy silver bullion imported into
bombay or Calcutta every man who
had rupees hoarded-there are millions
upon millions Of them hoarded-the
man who had hoard could hoard sill
yer bullion instead of his rupees and
give the rupees in payment for it.
There is not a shadow of a doubt that
the whole management of Indian mon
ey since the closing Of the minis has
been. in pain English. "a botched job"
II what | suggested had been done !
doubt very much If the price OF silver
would have fallen lower than SD. its
1883 price. But whatever might have
been the price. the Indian government
would have had large margin OF
profit. which would have gone very
onr way towards paying the Indian
go,ernment's loss on the eI5.0oO.O0
which it must p y to the imperial gov
eminent in London in gold
In view of the foregoing, which is
simply a statement of historic facts
hat everyone is familiar with the
policy of our government in legislat-
Ag against silver is incomprehcnsible
70 thoughtful Europeans. We can view
Tho matter in only one Of two lights:
Your statesmen must be wholly ig-
rorant of the science of political econ
omy; or. g There was a sinister mo-
i've back Of your anti-silyer legislation
You may complain that this is strong
language for a foreigner to use. but
ihe facts are SO patent that no other
obstruction can he put upon them. ]
simply state a primary truth. as Newton
aid when he proclaimed natures law
~ gravitation.
The United States produce, / pre-
sunle, about three fourths OF the worlds
silver. NJ any rate. your production Of
that metal is so much in excess of all
other nations combined that you could
easily control its market value on the
commodity basis alone. Why. then,
could you not command the old gold
par or premium rate that prevailed for
so many centuries before demonetiza-
ton by adding your fiat" TO the com
wercial value? Certainly no one Will
dispute this proposition. unless he is
Utterly without knowledge in political
economy personally interestedin sus-
tanning existing conditions. Some
years ago. in the city Of Brussels had
very pleasant interview with your dis
unguishcd Senator John l.. Jones, who
was one OF the "forty miners OF the old
california period. He related TO me
how individual "diggcrs" "panned OUT
until. with their accumulations, they
We're able to go back 10 the land Of civ
iiiIaiion. and how in this way. TO quote
fhc senator's own graphic phrase. this
widely dirused golden shower made 'he
western wilderness blossom as the
rose" This golden shower" not only
benefited the Individual miners and
'Ne western wilderness" but il extend
over every part Of your great coun-
and even brought new life and
'sr across the Atlantic ocean to the
'Her countries Of Europe. TO such an
lcnt that the money lenders OF the
netherlands became alarmed for the fu-
'ure 81 their occupation and forced