Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1900-10-26

be s15s,o0o. They would he cheap dollars.
possess but half their purchasing power.
so we must divide the s5iS. 600 by 2, which
gives him a net profit of 900 on the
transaction.
You viii ask, then. why with such pos
sibilties before them the bankers oppose
the measure. | will tell YOU and tell you
truly IT is because they foresee, as ev-
eryone who understands the matter must
foresee. that with the adoption of the
measure pod would disappear into pri-
vate boards; the reserves of the banks.
they would be forced to contract their
loans; a general and exhausting liquida-
ton would take place; merchants and
manufacturers would fail and in the gen
eral wreck and ruin the banker would not
escape.
But do not flatter yourselves that you
would be exempt from the general disas-
ter. Shops and factories would be closed
a sharp halt would be called on all enter
prises labor would go into idleness;
wages would be reduced and general ms
cry realized. There would be a resurrec-
ton, no doubt Our country is too great,
it's resources too manifold, TO long re-
main in bankruptcy and idleness. With
the old wrecks cleared away, we would
begin again. The new silver money would
be the money standard and the common
medium Of exchange, and after incon-
ceivable disaster we would have the
chronic condition Of q fiuctuating cur
rency now enjoyed in our neignboring re-
public of Mexico.
Mexico has her mints open to the free
coinage OF both gold ana silver at the
ratio Of 1872 to l but all OF her gold goes
abroad. she is hopelessly on the silver
= Di.1 and her dollars heavier in
weight and finer in quality than ours,
have A value always rising or falling as
~ ~ ,1 - ,,,o,Ide market The average value
~ ~ ~ ,5a,ican dolIar ie ahout n cents
in gold Ii sometimes falls 70 ~; II some
Tunes IlstS ~ a,oti,atiors -, Line MI Iii,
tie 49, - of - single wear are as much
ms i.IlILa ~ "
as ~ ~ ~, sii,-er coinage advocates nota-
~ NJ R,.yan assure us that it win be
,iifrerart mere: they tell lis that Mexico is
a small country, while We are a great
people. 50 millions in number, and that
the demand here viii bring the new sllNtr
dollars up to par. They forget that the
Mexican dollar is current money in all Of
Gbjna thn Strait. Settlements the Phil
t'i,'|, ,ra iii VII Islands ~ The pacific
IPpiHSS, az an 80, st,' aiiif",s ~ neonIe lIsa
Not less thdH 4Vo nliiiu .t M Poop XXI, N
MfAlcdn uuii" III ~ - T. w nose doIIars
80 - ,..er i -lfbstautialIy 80 cents
ne Wqfld oNef = SuDS nj i''-S ~
N Eoin, friends ,-aIues win nat respond
No, hiS s"niner Werner narlia-
ments nor congresses, Kings nor fFesi11
dent can chdhge or dlI,Iqi th1 ""'"' 81
laws OF tcoIoiiiilC 'eldtiD'iniitP, ,+ ,,oticed
mere Il ai,+;.ist poi. reidaTs-Irn Nyhem
= r.. if,..r h7,IIi4n now owned bv the gov
srnr,rnt shall ~. fully coined there viii
III nll-etaudiug In the form OF silver dol
iars or silver certificates the sum Of
nearly $50 UuelU. With the free coinage
IN .ji.o IN, i,ri,.atp account n viii be i'm
VI 1 -ith Viii th. +,..,etr,y III rn4inrain tht.
- ~" aI-isrint, trt veer an forms OF
"a, - ,,,'at me Silver dollars We now
Srt t,-iiT i,-e,-ita hIv sink Ia a level with
-. retv dnIlars-that is to say. they will
sinl, 10 their bullion value
This re.uit might not be instantaneous.
r,staod ~ goiug over Niagara Falls at
l.,l[. 49,, ~ rnisbf 20 through the locks
o+,4 iat-.ie nf tbe Welland canal. What
' ''t WIZ tcla,s ~ circuitous character o.
,be route We would ultimately find our
.-ti,.as lin tba lover level our presen,
l,Iok Nv siivnr dollars ehrlIuken to their
S.USh wa Ia ,i, nv hour "a nor cent of
nui!lpI ,.1. . '. iii tEa b,tdars
!t'iNti "a go ,,-. .L-,' x1,. M INN N,