| Show frea FREE COINAGE MOVEMENT editor dewal deseret news an able correspondent initialed H D J writes on the above question in your issue of the ath I 1 not and comments on an editorial of yours of thursday H D J in his first paragraph says I 1 1 I do not propose to offer arguments men ts on the subject that is unnecessary 1 I on that point we are agreed belle beliefs are not facts asymptotes are not curves sentiments are not arguments the next paragraph says there is not enough money in circulation to in the united states I 1 readily admit there is a demand for a larger ciraula cir cula ting medium but that is an entirely different subject from the free coinage of silver there is a demand for capital at the present time but unfortunately I 1 have not heard of its free distribution hundreds of mechanics in this city are idle the industries are not active again is it nota not a fact that of the circulating medium we have in this country seventy five per cent of the actual money is held by government bankers and large e capitalists invariable antecedence invariable sequence Is there therea a law written or implied that prohibits a repetition H D J speaks of silver being legal tender until 1873 at that time I 1 did aid not know there was such a country as the united states but three years afterwards I 1 had bad occasion to study the silver question and at that time settled the matter for myself and laid it on the shelf and from that time to the present have not written read or thought on the subject true I 1 have glanced at a few leaders in the tribune during the past twelve months since I 1 have been in this city and they have had a tendency to strengthen my con clu of 1876 the evening post says 1137 37 millions in gold have left the united states in five months whilst writing the above john chinaman brought my washing to my bachelor quarters wrapped in a new york tribune of january last in which the specie and bullion exports and imports tor for the mouth month of december were givel imports Im porta exports fix ix months imports ending december 1890 six months exports ending december 1890 one years year a i imports ending december one years vears exports ending december iwo the now new york tribune says the above is the government report and is ie dated january noon silver has been money all over the worl I for centar I 1 s numismatists know that copper and bronze are our oldest coins coina H D J writes in his hia last paragraph but one as follows 1 I have never yet been able to see why it is the duty of the united states to look to other governments for a policy in regard to the kind of money we use we are at least old enough and 1 hope wise enough to know what we require as a circulating medium and I 1 think we ought rot not r ot to be dependent upon other countries for dictation in the matter let us make such money as we want and if foreign people do not want it let us keep it at home if this thi country had no relations ls with any other country theu then perhaps a silver standard would do as well as a gold standard ostrich like would it be wisdom for us to thrust our head into the sand snaillike snail like do we think our house the world an indian agent in canada would often exclaim when suf suffering foring from double vision the result of frequent excursions t to his pocket stove t am government I 1 arn am the government the panic of last november if it taught us aDy anything thing taught us most the existence of the closest tie between mother and son the other nations with whom we deal have adopted gold as their standard but principal merchants have to pay in gold for their good sour railroad companies and other corporations have agreed to pay their bonds their coupons and their inter est in gold what is free coinage of silver I 1 take it that any man under free coinage can take grains of silver fine to any U 8 mint and have a silver dollar coined silver 1000 fine is worth only in the market of quotation 1 per ounce of grains grains of silver finer fine is not worth in the open market more than 77 cents everybody would be bd anxious to sell to the U 8 S Govern government dollari men 80 cents worth of silver for one dollar everybody I 1 said but the word is tod comprehensive comi our W western estern senators 1 ro such is their love of country such I 1 w their patriotism their unswerving de da to do only the right they woula woul sell only grains of silver 1000 fine ficke for one dollar they simply go t to washington for their health buy ing silver for 80 cents and selling fol fu cents is no speculation under frea coinage but the profits areas are as certain as the members of the late silver pool found it to be when buying silver from 95 to cents and selling at from to cents even if it does demoralize the silver birket 41 no government especially this government ern ment has a right to legislate on any marketable product interference with the market price by means of legislation either in local or national houses in provincial or metropolitan halls habs has been is and always will be a dangerous experiment somebody 1 suffers buffers and too often those of us thel the affords working classes who can least afford A to suffer take the last legislation on silver silver was the most speculative article on the stock list the fluctuations reached 85 35 per cent in the period of three or four months in addition to one of the ni members embers of the stock exchange who bought silver certificates on a falling market and who had recourse to something stronger than water to prevent his taking a single journey ticket downstairs it has had the effect of no not allowing the miners of utah who are leasing to sell their ores at a profit P the smelters shelters sm elters in the uncertain state of silver are perfectly independent of small rut mines des it may be argued that if silver is worth in this country why it will bein be in other countries the lead ring of a few years ago the tin trust of england the copper syndicate of prance france and the last silver legislation lo 10 0 this c country 0 are proofs averse to such buch V statements t we were told that ozo of sliver silver held in ID london were sold in this country at the advanced price austria it was reported has 1000 florins florans to dispose the weight of the florin or guldon guidon is 1905 grains when any country tries to keep up the price of a single article for abe he whole world it is a costly experiment eDt for the nation as it must result alt to ic a loss to that country the chances bances b are that the rest of the world rill III 1 be benefited the policy that has for or r its object no matter by whom originated ril the purchase of speculative stock sto should not only be discounter ancee an bu but should be ign ominously branded free coinage advocates may gay buy up the present stock why in ID a afew few months there would be another stock the silver production of 1889 was valued commercially at its coining value the total output of the world for that year was I 1 coining value prom from 1870 to 1890 the excess of silver exports over ailder imports ranged from in 1880 to in 1873 the year chich H D J says silver was do de and yet in spite of such exports ab there were in the treasury on the of november 1890 over of silver what are we to do with this amount of silver and the increasing output not of our mines conly aly but of mines everywhere I 1 admit that free coinage will give ito to many articles an apparent increase of value free coinage is an exotic iem am si inflation lation deflation Ef is not prosperity As before stated our merchants receive bov 0 r their goods silver at a distended value they are forced to 10 pay gou goll coin I 1 at the gold standard staB dard for these same goods the result will be bankruptcy to borne body let us take silver from the narrow rut from which it has and treat it on the broader principle we ve will suppose that H D J is a f farmer r who has 1000 bushels of wheat to arme sell the market price of which to is 80 cents cent he goes to the secretary of the treasury and says 1 I have bushels worth 80 cents and I 1 want you to issue a dollar certificate against every I 1 bushel of that wheat the manager of the shoe factory may with equal grace say here are slippers I 1 can cant it sell them the market price is 86 85 cents give me one dollar certificates the secretary says 1 11 I cant do that as I 1 would have to build warehouses acan cant it you build mr secretary vvs warehouses to put manufactured goods krain grain etc as easily as you can build the same for the storage of silver before closing I 1 would say I 1 am a miner and know nothing save mining although twice at the solicitation of nay my dearest friends I 1 have tried other I 1 lines with but indifferent success to ahmow that I 1 am an advocate of silver I 1 may remark that my watch my chain my sleeve links my studs my buttons 2 uthe the jewelry I 1 have ever bought have been silver therefore I 1 maintain I 1 am doing more for the maintenance of the price of silver than by writing a thousand articles on free coinage the west though the largest producer of liver auver is the section that uses it least H D J goes to the bank on monday with a check for the teller gives LL him twelve and a half rolls of silver dollars the result is H A D J calls the tellers nearest female relative a name she never received at the baptismal font and peremptorily tells him to go to that place where the british army has hafi been 1 wen going ever since the battle of waterloo in mexico and in south america packing or is not all fun E S february |
