Show RESULTS OF SILVER AGinUTION The New York Times says that ever since the agitation for the free coinage of silver in congress Europe has taken alarm and has been sending back annually an-nually upward of 200000000 worth of securities of the United States that the best authorities compute this amount to be upward of 1200000000 alone since the year 1890 but how much additional European capital invested in-vested In mercantile enterprises has been withdrawn it is impossible to say there being no available data but this roughly estimated must be about 200 000000 in short a rough statement maybe may-be made that the constant agitation of free coinage has caused a withdrawal of 1400000000 European capital from this country We take it that the word capital I is here used synonymously with money or gold The agitation for the free coinage of silver in congress having induced this withdrawal of capital according ac-cording to the Times of course the withdrawals would be in gold Now what do the figures show as the actual amount of gold in the country during the years 1S901S95 Here they are 3S90 695563029 1591 646582852 1892 664275335 1893 597697685 1894 627293201 1895 636256023 These figures do not bear out the theory of the Times If what it says is correct then almost as much gold has been withdrawn as we had money of all kinds in circulation in any one of I the years designated by it as the years during which the silver agitation has been so harmful Nothing can be more certain than this that if European Eu-ropean investors in American securities have been sending them back to us we have not bought them unless the price has been such as to induce American capital to invest in them at a profit One would think to read some of the many articles upon the return from Europe of American securities that the European holders of them could send them here demand what price they choose and exact it The price they get is the price we choose to give And all these securities that have come back have not been paid for in gold any more than other importations importa-tions from Europe They have been part of an exchange of products or commodities balances alone being settled set-tled in gold International trade is much the same as a clearing house and no one has demonstrated this fact more clearly than the Times in its discussions dis-cussions of tariff questions and trade balances The withdrawal of capital from the country is anything but desirable but when it is withdrawn every effort possible pos-sible should be made to replace it I In the present instance that can best be done by the restoration of the free I coinage of silver |