Show TIII SILVER QUESTION I The Drvtoeim ii intloblccl to the roitrtpsy of Prof 1 I Itoldcn I for n copy of nn niMroRi to tlii > public by the Mnlinnnl liUMitnlllc Coinnco Associ itiotii of vvlilcli organirnllon tho 1rofcnnor Is Dmtrmnn The mlilrem filirttoiit with the two following rcawns for tho exist uiuo of the association Irstlo obtain the ipstorntion hy l net of Oonaroai of tho frto nnel unlimited tlll coinage of Bllver niul tho continuation of tho present free nml unlimited coinnRo of HCCOIIII llio restoration nt tho Unit ol Vnlno ni ennclcd hy not ot Cmifriss nnd unproved by IreHldcnt Ooortjo Wellington April Ihnl 1712 to bo rent evented by tho Hold dollar of ii 810 Kralnl Ot KX fine nnd tho flilvcr dollnr of I12H firnins KX flno It then asserts that the permstent clforts monoinctallsts to ilcpilxo nilver ot Us constitutional function na money arc only to further the interests o Irillsh india at tho expense of nnd in culculiblo injury to tho United Ktntes 01 America To proc this somewhat slirl ling assertion tho following showing is i made taking for example tho article of wool A fowj oars nao tho imporliiliou of woo from the llritish Indies wns comimnlivcly unknown To day wo 11 ud that novcral million United mil-lion ponnda States aro ilio yearly iinality I imported in general into in tli no ceptlblo to our rccimreraents but cpmlity for quantity compared with our own llecce thoimccHvvoro found loo UiRli I licnoo Una India wool Una been seldom Bold In our mar Kots llio chonp prioo paid for our Bilve Imlllon nnd tho ciclmiiKooti India rogulntci thereby has of lau yours allowed tho Jlrit isli oxportora to lay down India wool nt a prioo at which honest competition inns shrink from htrniiRo aa It may nppenr Ih tf l1r roox l yet that dilTorcnco of oiclmiio nnd tho tin warrantable unfair and decidedly porn I ciout misquotation of tlio truo vnluuuf Ihe Last India rupee has opened a sourco for an unhealthy nnnalurnl competition projn dieial to our own nhoep raising Interests and only favorable to Indias nt the oxpons of Americas Kxchanao on India purchased In Londoi of tho so called Council llilla of tho East Indian Kxoheiiner moans 1 shilling Ii pene per rupee Instead of 3 shillings sterling Its truo valuo in India which gives tho import of India wool at tho start a profit of J1j per oont When tho Invoice rcnehca os ton Now York or Philadelphia llio nmoim paid is stated in rupees and owing to Ihe misrepresentation of the truovnluoof Iho East India rupee which ia quoted nt IM 7K cents instond of 48 cents ila full vnluo Icga I tender in India and fl acknowleilRcd aa sue by tho British government mother profit of over 35 per cent is allotted the importer un his undervaluation To comprehend more fully tho ligitinmt objections to tlio importation of wool from tho Last Indies at the present time it uo oomea noooasary logio explanatory detai and thereby expose to view the tricks of trade in connection tlicronith Wool from coarse to fine somo very fine sells in 11111111 lit from to 10 annas or equivalent inoi liiouoy from to ilO cents t per pound An n voice of 100000 pounds of Kast India woo i nt T annas or 15 cents per pound woull1 show tho following results One hundred thousand pouiuU Last Ind 11I wool at f annas per pound 503000 anna Hi annas maUo 1 rupee hence U2r 0 rnpoo llJr lilt I tic Last India rupee is equal loi Rlnllme Lughah sterling nnu it ould 1 therefore i quire 11 he pounds sterling to cincol tlm I t debt but owing to tho manipulation of Iho London market prioo for onr mlver bullion tho importer claims from tho London Lx chequer Council bills on India nt 1 shillinll i penco nor rupeo and therefore is cnablci U t3t Ihs HfJmt to cancel it with HSU pounds 15 Hhilltng sterling nt a profit of M per cent o fifs f equal to 781 pounds 5 shilling sterling o thnt Invnlnn nf 1 Rt llIn wnnl Not only is tho importer benefited by tl oxchaugo on Indin but another ndantag is offered him to undervalue tho rupoo nt 3 711 cents in placo of 4S cents its roa face and full legal tender valno in Indi ll ti t Tho lloston 1hUadclphia I or Now York in porter of Last India wool presents his In voice I to tho respective customhouses am IH obligingly i allowed to undervalue his La India wool another I US per cent iiamel JM 100000 pounds at 5 annas per pound 500 0 annas or 1 > 0 rupees tho rupeo at 35 7 ccnts reduces tuat invoice 1 or vlllWiJ nt tho rato of 1115100 cents per pound aiu inconsequence cents instead of thereof 5 cents per imvHiiduty pound for of tl J tariff roads All wools costing U cents or loss per pound 2X cents duty nil wools coal ing more than 1 cents 5 cents per pound llio Last India wool importer not on has tho undue advantage of an exchange on India but he imports it nt an uudorvalu lion of LK cents per pound or in olher words is allowed undervalue on an Illvoicu of 103000 pounds 500 an item worth w h fif f vf fighting for nnd which in a measure e I plains tho tenacity with which tho Importers in Mew York Philadelphia nnd Jloston 110 mand tho suspension of silver coinage 1eluls consequence thC imports nnd stocks of Lua India wool havo increased from tho nlmo insignificant portion to tho vast propo lions given in tho annual ciroular of one of tho lending importers of wool in Hoston I over 100 per cent in llio past thrco years The Act of July 2i 1870 tmeoiiHt tutlonally dcmonctircd silver unllIloulh its intrinsic alno ii as great as uver lor I the purposed of trade and barter with foreign nations it is in a degree yaille less while similar coin held at its lrue valuo in another country can bo made 10 work untold hardship to our coinmcrc interests and all for the selfish ends of n few who compose the money kings of tho country What is truo of wool is oijually HO o wheat corn rice hides and all olher products of that remarkable totmtr where labor and tho cost of livlnj IIfO ninety per cent less than in this < oiintr The address adds II lias Congress Iho right to demonetize the trulu dollar and answers the question as follons Money nt common law is both go < 1 and silver and both gold nnd silver woro legal tender nt common law at tho time of tlio adoption of tlio Constitution Gold and silver derive their legal lentler function not from Congress not CUM i If li rectly from tlio Constitution but from I immemorial common law ricognUed in Ihls regard and sanctioned by tho Constitute lliis Jjcing tho case has Congass tbo right to luko uwaj from nny gold or silv coin or cither of them this legal tend function If Congress has the right to nko nw from tho trade doll ir or any other mlvo coin its legal tender function it woull1 naturally havo the right to do tho sumo with tho gold dollar or any other gold coin of t U tl ife Yttt il1c United Btutos or as to both gold and Hilur 1 coins together This position cannot be successful as Hailed but tor a consideration men are easily obtainable who being thorough versed in tho intricacies of this complicated compli-cated question will misrepresent the mutter for the Interest of their mabtcrs and snap their flngciu at the grhnous wrong they heap upon tho producing element ele-ment of our 1100110 Jho Mlvcr legibla ion of 1870 was obtained through wicked trickery and should at oncu bo stricken 1 roni tho records Tho conclusions ached by llio committee after mi able and exhaustive argument aro coin ended lo our readers as eminently just an d pioper Wo believe that no nation cerhndtoo III nch of gold nnd Kilter Wo bellovo that tho highest financial wls L10m was oiercined by tho founders of our vornmcnt when they established by law 1 reo and unlimited coinage of gold and ml ver and wo deploro llio repeal of that laws nnl1 now In order to remedy tho Injury done o nil tho business interests of tho country hy such repeal wo respectfully and earnestly cmand Hint Congresa ro enact laws for tho r co nnd unlimited coinage fe gold nnd nil cr BO Hint each metal may havo equal ghts as money nnd that both may hao ffl I legal r lender t valno for llio payment of elits public and private I Jc rJi y sll1orel1 ho stnlo i ments 10 which IVO siltll our nnme nnl1 III conelll11I11 110 urgo UpOI1 onr countrYlllel1 the election 01 oenniorsniiu iscprcBenuuiviH 1111 Congress who will fa or ho enactment of the policy and laws which wcrocslnb IIshcl1 hy lho oulll1ors of tho Hepul > lIo anti which Iaoo lJ tho country fno alll1 unlim lied coinnle of goll1 nnl1 silver loraet it not thnl ho who opposcs Ihls 110IIcy nnl theso Inws Is an ol1emy 0 sOUl1l1 mOlley hCllllhy l > usll1es nnd Iho mnsscs of Iho > eo > lo Tlio Committee is composed of leading mell from cncry Slate nnd Territory in Ihe Union Tim follow Ing list of ollicers will gio n good idea of tho excellent class 01 f men they aro Ire idcnt Hon John 1 Jones of Nevada 1st Vice1rcsident 1 > II Armstiotig of Missouri ld Vice residcnt It W Hughes of Virginia 11 VicePresident I 1 Soucr of ouisiatm Treasurer 1 11 Grant ol Colorado Secretary M II Slater of Colorado Assistant Secretary Ielaa W Gee |