SUPPLEMENT TO THE POST , MIDDLEBUKGII, TA. MEXICO'S OBJECT LESSOX. ...,o. J If the Government' stanipean rniko nil silver bullion worth $1.20 per ounce, why can it not mako it worth 81. SO or $2 per ounce? Why does not the Mexican Ooverumcnt'sstamp make all the silver iu that country worth its coin value? "Wo only want to rostoro tho con ditions which existed in 1873," my tho Hilveritet. That in, they wunt Ions than a million hi Ivor dollar in circu lation, instead of the six hundred millions of silver money now iu use. They want au iutlatod paper currency, without specie for its redemption. They want to get riJ of our Mix huu dred millions of gold, practically nono f which we had in 1873. Ia thin what they mean when they slaiuor for "tho conditions of 187:)?' The average farmer or woikingmau would not for a moment thiuk of giv ing au opinion on a question of astron omy or chemistry in opposition to tho teachings of special students of those nciences. Yet on the far more intri cate and difficult question of finance, i-very voter thinks himself fully com petent to coutradiet tho couclusious of men who have spent many years Htudying the problems involve I iu tho currency and banking questions. It would oo a little more becoming iu our cross-roads financiers if thev would admit that hearing or reading a lew free coinage speeches does not lit n man to give au intelligent opinion on bubu a complex problem. There is great deal more to tho money ques tiou than the issue between our pres cut financial system and tho silver standard of Mexico. Arguing about tho monetary unit csiauiiHue.i in li'JZ is a pure waste of time. It matter not what' may have la-en tho intention of our forefathers. Wise and great and good as they were. they could not tell tho changes which iii... i . , wouhi uo mane uy tno enormous in- crease in tho amount of silver mined. The gradual progress of tho country has mado necessary wido departures from the plans of our first Federal overumeut. Tho foot that gold is the standard of value of nearly every civilized Natiou, should load us to adopt the same standard even though we were still on a silver basis. Ap- pealing to tho history of ouo hundred years ago has no weight ou present issues. What wo wuut now is tho host possible money, and there is no sense in shouting about "tho dollars of our daddies." 'COl.V.S HXIM'IAL FOOL." HIS SOLILOQUY, I Want a loua dollar, ju.st basoj on mere pretence; I hnto tho KoM-buK'a" g ild ono tliat Is worth a hundred ei-uts; Forl'm a "Silver Uwtle," as all tho world can set , And except my previous humbug, you will Hml no buys ou uie. loan give you learned statistics from Itouu to A'luiu Hmitli, And iiuilu u miscellaneous lot of fallacies therewith. To prove that all our troubles Iu panics uw orobl Are but Hih rank production of a dollar maao from gold. I brook uo HrliWi moMliug with the "white" slulTthut 1 laud, For what caro we lor Kugluud or th'j folk who live "abroad ' They tell us two aud two tuako four, us sure an I in alive. Ami so to be "Amorioau" I vow that tlwy make five. low nuylioily thluU tho Ynukoo Xatiou eau unt say That anythlug' a dollar au 1 makeiu valuo stay? Hhould EuKlmid ever Uriro to, by the Ituvo- luttuu'i blrtli Wo will sudduuly "annex hor"or ''wlpo her from the earth." We need a pile of mouoy, and It isn't Eng land's rlKht To refuse tho kind wo offor. It she Uoei I want to Ilk-lit. Forif we Vauktxis legislate that waturruus up In sjilfj of all creation I will bet you that it will. ' I know the silver bullion that tho people had to buy, Tiled up. would make a monument broad base and six mill's hiuh, lb-bide the minted silver, which uobojy takes away, tat we ouht to keepou buying Itiu spite of what they say. 1 Uou't oare a ccutiuuutul for Wall Hlreet or (iroverC, Forull the bloaied ''gold-bugs" lire us nieun us they i'aii be; 8o I've eut iroaduast my phamphlet as a sort of "Hummer Mehool." To show the lolks tho wisdom of "Coin's Fiuaitelal Fool." Joel lieu ton, la Haroer's Weekly. llCvtl LB Mi SMALL II. Ni;E. I MEXICO AM A SILVER COr.NTKY, .Minister Itotncro. who renrosentu Mexico nt tho seat of tho Government or tho I nited States, has written an article on tho money question, which id of considerable interest to Ameri cans. M exico is a silver money cotintrv. Minister Itomrro says that tho lo'w prico of silver abroad makes it un profitable to export it, and that, there fore, thero is nu ample supply of silver in the Mexican banks, stimulating in dustry, maintaining prices aud in- creating tho demand for labor. It is quito true that, although Mexi co has an abundanco of silver, and in cludes within her bosom mines known from tho middle ages and not yet worked, silver is so cheap that it is unprofitable to export. It is very cany for the Mexican banks to bo full of such money, but as to stimulation of industry and increasing the demand for lubor, tho sister Republic furnishes tho best possible illustration tho people of tho United Ktates ought to require iu demonstration of tho effect of a tdlver standard. Labor in tho llfpublic of Mexico deems itself fortunate at a wano of from six cents to thirty-throe cent e day, Mexican silver mouey. So abundant and so cheap is it that men make of themselves trucks, aud on their backs conduct a portorago of things from a sack of Hour to a load of furniture, when so rare a thing as a load of furuituro is to bo seen in a street of Mexico. So nbuudant is labor and so cheap, yet so desperately poor are the cities of Mexico, notwithstand ing that its banks are bursting with silver, that tho water system consists of earthen vessels carried on tho backs of labor, which sells a modicum of water to such privato patrons ns may be had for tho pittance asked. American travelers in Mexico realize, by getting nearly twice a dollar's worth of every thing for an American dollar, tho dif ference between sound money aud cheap money. The free silver advocates would have taken pains, had they known it in time, to prevent tho publication of Miuister Homero's views on tho silver questiou. As a contribution to cur rent discussion, it must be. in their judgment, as uufortuuate as it is timely. A high estimate of tho intelligence ol -Mexico is that ten per cent, of its people can road and write. A country without sewerage or schools ought to bo content with cheap money. Chi cago Times-Herald. DEMAND IOU (TKUEXLY TIKE. LITEKA. The demand for literature on tho curreucy question a something phe nomenal, l'robably 3,000,00;) pamph lets and books on this subject have gone into the bauds of tho American people during the past throe mouths. Fully half of the liO.OOO newspapers and periodicals iu this country are de voting considerable space to tho silver questiou. This means that our think ing people have takeu hold of the cur reucy question aud uro studying it as they seldom study a question. That they will roach a sound, sufe uud practical solution of the problem is tho opiuiou of all who believe with Liucolu that "you can't fool all of tho people all of tho time." Tho two great sources of supply for books and pamphlets on tho curreucy question are the Coin Publishing Com pany aud the Reform Club. The Coin Publishing Company has proba bly sold over 1,000,000 books and pamphlets since last January, It has told nearly 500,000 copies of "Coin's financial Hcuool, which has become the text book and biblo of the 10 to 1 free-coinage iteople. The Bound Cur rency Committee of the lleform Club, of New York, has sold and distributed fully 1,000,000 pamphlets and books on this great questiou. It has distrib uted 200,000 copies of "Coin's Finan cial Fool," one of the best ol the thirty or more replies to "Coin's Fi nancial Hchool," and 150,000 copies of A finauciul Cateolusm." lioth of these paraplots are published as num bers of "Sound Currency," single cop ies of which are sold at five cents each. Ho great has become the demand for literature on both sides of this ques tiou that tho lleform Club has estab lished a supply bureau at 52 William street, New York City. It has ou hand nearly every valuable book or pamphlet iu print and has reprinted many essays and speeches, the demand for which baa suddenly revivg d, I VALID OBJECTIONS TO FREE COINAGE OF SILVER, A3 TJBGED BI THE SILVER1TES. Coinage Would liaise Interest Lower Wages, ParaJrxe Industry Impoverish the Poor and Knrlch the Itlcli. I Bra oppoed." savs ex-Concrest man John DeWitt Warner, "to free coinage ol silver, as now nrired bv its advocates : First, becauso it is only a t,ui nu a very xnin one at that, lor wna mey really want forced rency of depreciated silver. "I am one of those who believe that the main fuuctiou of Government is to protect each man iu his freedom to do what he pleases, so far as consistent witn protecting every other man in the same right ; and am therefore op posed to all arbitrary interference by uoverumeut with the business on cerus of its citizens, and especially nujr luierTonuon py u in their con iracis wnicn shall assist any man to nreak, directly or iudircctly, tho con tracts ho has made. "When a niau buys a coat for ten Houars, tho one who sells it to him iuy ten dollars for a coat. I am or 4.. i'utoi iu ooycnimcm interference in order to induce a man to accept a dif lereut kind of dollar from that which lie would naturally choose, or to ol struct ins getting whatever sort of dollar ho prefers ; ami when it comes to proposing to compel him to accept any kind of dollars for which he has not contracted, it is no more defensi ble than it would be to compel a man to accept a coat different from that which he had bought. Again, I nni opposed to so-called free coinage that is, forced cur riui-T oi silver lor mo very reason lor which it is pressed by its advo enivs, uameiy, mat it would raise, aud probably would double, the num. iuul prico of all kinds of property, cs- pueiauy uio commodities in general use, prices of which are adjusted from day to day. This means that goods or services, tno prices or which are con servative, will bo for a considerable time at a disadvantage iu comparison with those which are uromntlv changed, (leuerally upeakiuu', whole sale prices of food aud foods lluctuato buly; retail prices weekly or mouth. ly ; w hile rates of wages tho prico of tue one tning ttio wage-earner has to sell change oulv ut couinarativelv long iutervals, ouoo or twice a year or oiu-e i u ouo or two years. "Tho result, therefore, of depre ciation ut our currency, which would put up prices of goods iu general use, would bo almost imme diately to reduce bv one-half tho purchasing power of, tho wages re ceived by labor, and leave to labor a long period of years of agitation and organization before tho rate of wages would bo correspondingly iuereased. It is hard to imagiuo a worse disaster than ouo which, to start with, practi cally reduces tho wages of labor by one-half and then ensures a demorali zation for years to come iu tho rela tions between capital and labor, pend ing tho readjustment thus necessitated. "Another reason why I am opposed, not merely to tho so calloJ free coin age of silver, but to tho agitation of it, is its effect upon tho development of our couutry. Under normal con ditions tho capital of all civilized countries is at tho disposal of any ouo ouo who wuutB to develop cither of them, at a rate of interest com mensurate with tho risk tho lend er ussumes that thero is of his sure aud adequate repayment. If wo nave auuudaut capital ut low interest enterprising men can nfford to improve real estate, build factories, lay out now railroads and enter upon every kind of undertaking which builds up tho country and keeps labor well em ployed at high wages. "If tho ruto of interest is high and money hard to get fewer din afford to undertuko uluns which involve tho borrowing of mouey, nud tho result is a stagnation ol euterprive, a paralysis in tho de velopment of tho couutry, and unem ployed labor, with its pitiful and dan gerous consequences. Iu proportion as any ono who hus money to lend fears that he may get buck poorer money than that which ho pays out, ho will bo conservative iu leudmg it, and will either chargo very high in terest or else will keep it idle iu bauks and trust companies so that ho cuti transfer it iustauter iu udvuuoo of any considerable depreciation. "It is tho fear of depreciation that keeps so much mouey idle in the coun try, aud it is one of tho maiu causes for tho very high rate of interest charged by those who lend mouey tit all iu that purt of tho couutry where people be lievo that thero is a reul probability ofourcomiug to a silver basis. One yeur of tho prosperity that would como to us all were the capitalists of this country and of the world at lurire absolutely certain that our curreucy would never be depreciated would be worth ten-fold more to our people than all the benefits whioh even in their dreams the free silver advocates imagine. "Agaiu, I am one of thoso who do not believe iu new ways to imv old debts, especially when they involve swindling tho man one owes, and more especially when they swindle the poor in order to make more wealthy the rich. If we went to a silver basis, aud a nominal dollar woro worth halt what it Is now, the one kind of property which would not suffer would bo cold coin and gold bullion : aud this is hold mainly by the great bauks and trust companies of New York and other cit ies. At the same tirao, however, these vory banks and trust companies would be able to pay oQ their depositors, in cluding savings bank depositors, in silver dollars of half the nominal value ii hoard. The hankf, trust compan les and individual capitalists would therefore be tho great gainers at the expanao of their depositors. "Again, the great life insurance com panies of this country have for sotno time been investing their funds throughout the country upon gold ae cnrities. If our froo coinage people uau mcir way these gold securities would still have to be paid in gold by the farmers and business men whose mortgages these companies hold; but every widow and orphan, every owner oi mo or benefit instiranoe would have the amount ooming to her or him prac tically cut in two. to hor or his loss. and to the gain of tho company, which could dispose of its Bold at a premium. "I am not in favor myself of robbing anybody. JJut if one is to go into that business he ought t least to bo as de cent at was Uobin Hood steal from thoso who have most and trivo soma- what of the plunder to tho others who have too little, and not rob poverty wiiu tue result ol increasing wealth." t'M'LK M.tM'.S NOLILOtjUr. Uncle Sum is Lot sleeping: ho has simply shut his eyes to do sonio sober thiuking. Ho is soliloquizing about as follov : "These noisy freo roinazo people make mo tired. They pretend to want prosperity, but sro doing their best to scare it away. They want to borrow money at low interest ; and yet they favor laws that w ill make it n'nsafu to loan money nt ordinary rates of in tereit. Then. too. they're such biir fools as to think they can get rich by making cheaper money and more of it. They imagine that if their Uncle Ham says fifty cents is lOOcentt it will loniiie their wealth. My de.ir nephews and nieces, I do not cure for such ex pressions of faith and conlldence at the expense of your common sense. .- There are a sight of things vour Uuclo Sim couldn't do. He might pass laws every day of the year declaring that water shall run up hill, but every Irop of it would continue to run down hill. "You are silly enough t think that becauso I have put my stimp ou fifty cents worth of silver au 1 had it ac cepted as ouo dollar that I cau mako money out of anything or nothing. ct mo tell you something. So long as I do not put my stamp ou nuy tnoro silver and greenbacks than I can re- leem in gold, I cm apparently make more inouev. 15ut it weakens mv credit aud costs mo more in tho lou run than it does to put 101) cents lit very dollar aud to keep mv credit A 1 this is tho conclusion I have como to after much trouble and worry from trying to please you fiat money poo- le. Often during the last thirty years have I boon ou the verge of bankruptcy. 'Let this tree, against whi h I rest, represent my currency system. It stool firm nud sound until tho flat money worm now called 'Free Sil ver got under the hark and bogan to eat at the heart. It still btauds. heu it is half eaton away, though I was afraid it would topple over during tno last liuuucial storm. Do you thiuk that it would continue to stand if I should allow that flat money worm to eat clear through it? If you do your uncie win disown you. Anyhow, l m going to kill that worm; I'm through monkeying with tho fiat money peo ple. 1 want the soundest currency system iu tho world, an 1 bo gad I'm going to have it." IMunrt S ii it-Treasury Scheme. Only two or turoo years ago the sub treasury scheme, a plau for a system of (loverumeut pawn shops in which all kiuds of farm products would be pledged, was everywhere urged aud demanded by tho political schemers who "farm the farmers." Adopted by tho Ocalit convention of the National Farmers' Alliance, uud endorsed by ull the Populist lea lers, it Boomed us though it was ouu of the bed-rock principles of tho cheap mouey move ment. To-duy who expounds or dofends tho "sub-treasury" scheme? Where is tho brilliuut logic by which it was shown that tho country's only safety lay in its immodisto udoptiou? Where the eloquent tongues which pictured tho blessings of money based on c(rn, cotton, pork or tobacco? Oouo, all gone. Nobody talks "sub-treasury" plan any more. Not oven a Populist can be found to advocate it. Unlim ited greenbacks, or dollurs with fifty cents' worth of silver aud fifty cents' worth of fiat, hive takeu its placo. How long before tho rest of the cheap money delusious will follow it into oblivion? With free coinage we would use fur less silver money than at preseut, when it is used as a basis for silver notes, which circulate ou a par with gold. Mexico has free coiuago, and vet her 12,000,000 pooplo can use but $15,000,000 less than 81 per capita. At this rate, this country, with free coinage, would use less thau MORE .MOSEY t There Is Store Money Now Than K.ver I If fore. The following discussion is from Mr. Fred Perry Power's "A Financial Catechism," published by tho lleform Club, of New York i Has thero been a reduction of tho "money of ttltimato rudomptiou" sinco 1873? Thero has not even boon a reduction of this part of tho currency. In 187:1 there was no "money of ultimate re- uomption in circulation and serving as money in tho country except a trifle on the Paci tie coast. In IssO, just after tho resumption of specio payments, tho gold coin amounted to 8351,811,201'., and at tho end of l!l there was $58:1,83 1..V.M of gold coin iu tho country and $"5.3i)."i,Oii' of gold bulliou in tho Treasury. What was tho total amount of money in tho country nn 1 the amount per capita iu 187.1 and at the end of Iu 18,3 there was 8771. H.VHIO in the country, of which $751,ss,h ).i ,,r S18.04 per capita was outside the Treasury; in 1h;i there was J. 1 1 . . "80,552 in all, of which Sl,i;.l7. J'-' - 451, or 8J3.72 Per cattitu. was inVir.'ii- lation. Including m.mey in the Treasury the amount of inoiii'v in the country, per capita, was SJI.H5 in 1880 and $35. -IT, iu 1 s. . What was the per capita amount if money of ultima'e redemption" in July. 1880. and December. 1m.ii? iho gold coin, together with tin- gold bullion iu the Tri-a-nry, n-i:n;uit ed to $7.01 per inhabitant in 1 is land $..! ! iu is i. Hus the re been in I'.uropo u Lirco contraction of th -money of ulti mate redemption v" No; the follow-ill' liuuri-'. exeent for the lliuik of I'raniM this ye ir, are from n paper Mllunitte 1 by Professor V'"''' ,','r""1" silver com- mission of 1m;I ; (lermunv has twice as much g ild uud silver money as sli had twenty vears a ,m, and her present stock of gold, $505,11110,1)110, is greater than her stock of both eol 1 and nlv. r. $404,(100.000, iu 1873. Tho popula tion has increased one-fourth while tho specio has doubled. Since 1.S73 France has increased her specie $357.- 000,1)00; the gold iu the It ink of France has increased since 1 n7 $215, 000,000, and th,. population has re inaiued stationary. The net imports of gold into Fnu'lati 1 from 1m7; to 18:12 wero $180,880,0110. What is tho per capitucirculatioa iu France? According to tho estimates of our Mint Ibireuu, gold $21.51. silver $12.85, paper $2.31. in all $3d.7d. What is tho per capita circulation of (lerinuny ? Oold $12.(15, silver $1.35, paper $1.78, iu all $18.78. Are prices twice as hiuh iu France ns iu Oermuny ? Of course not. France, at tho head of the I.itin Monetary Union, of course uses little or no gold? On tho contrary, she h-is a larger siock ol gold than any other country of Europe or America ; she has $275, 000,000 more thau England has. And Ilidiu gold not being a ieal tender, or used comuioulv as money of course tho people there care nothing lor gold? far from that; a commission in 1800 reported that the desire for tin coinage of gold was universal in India. Tho net imports of gold into India since the metal was demonetized in 1835 huvo been $75(i,000,0i)0, au 1 it is estimated that there was iu the coun try $000,000,000 of gold when it ceased, under Iiritisb jurisdiction, to bo coined. 15 ut if nil tho Nations wunt gold will thore bo enough to go around? We cun have the best, and it would bo an extraordinary spectacle of self abnogatiou for the United States to tako silver iu order that there might bo gold enough for other Nations. Is not the gold giving out? There was pro. laced iu tho world from the discovery of Amerie.t to ls.",o 152,770,050 lino ouuees of gold, and from 1851 to the end of 1 Mil I there was produced (the figures for 1801 being partly estimated) 2('il,('.(V.I,370 lino ounces. Iu tho first five years of California mil Australia proilneti.iu tho world's production Win32, 051, 1'r2l fine ounces, and iu tho past live years it was 31, NO 1,537 ounces. During the past ten years there has been an in crease iu the output of every imported gold yielding country. Tho Florida Citizen (Dem.) says: "The Democratic press of the State, with tho exception of one or two newspapers, is decidedly iu favor of sound money." WACtJ ON TMC' faf (oioSmndm 1 ...iW j i i niiiiui I'Elt CAPITA F00LISII.ESS. Attempts nt Itegttlatlng the rency by the Census Keturns. m Secretary Carlisle, in his great speech at Memphis on May 23, knocked tho pins from under tho per cspits quacks by quoting a fow statistic tho subject. "I attach very little importance he said, "to tho per capita argumei becauso tho amount of currency . quired in a country depends mail upon tho volume of business to transacted and the customs of t pcoplo iu conducting their exchange and not at all upon the number men, women and children residing i it, but, as thero are a great many wh believe that the circulation should b regulated by the census returns, i may bo worth while to state that the production of gold alone iu 18.10 and it is much larger now w.is nearly two and a half times greater thau the average antni il pro luction of ir,,M and silver both during the deca le which closed with the year 1M0 I. J JmoO the population of all the countries in Europe au 1 Americ iwas 107,505,805, and the production of both gold and silver iiiuoutile 1 t $21. 10 for every lillll Ire. I inhabitant, while jti I s tithe population of th.. same countries wasN .;. T- t,:t f . an 1 t!.- pro 1,-tioii of ' gold alone was $1 1 m,m0,o 10. which'' I amounted to j25. M for ev, rv hundred inli ilnt nits, or ninety-live cents more for each him Ired people than u.is fur nished by both metals during each year iu the former deea le. In 1H.I4 tin-population of these countries was ls",ll'i' ,M1, nil I the production or gold al, me was $157,22M,Od), being $12.11 foretell hundred inhabitants, -r 7.02 more for each hundred pcoplo than the total of both met lis during the last decade of the lat c-ntury. If. therefore, the people of Europe and America ha 1 used as money all tho gold iuul all tho silver annually pro duced in the world one him, lred yearn ago, they would not have received as large a per capita ad litiou to their stock ol money as thev would rec-ive now by adding the (.'old alone. In view of these facts, I submit that the silver legislation of 1 s 7 J . 1 S7. J Hnd m"i has not diminished the world's supply of metallic money us compared with former times an I prevented the single gold standard countries from making us gre.it mi annual u I litiou to their sto.-k of metallic currency. "Official motiet try statistics show that in the gold-standard conn tries of the world the stocks of money nro much larger per capita than iu tho silver-standard countries. Taking tho large gold-stundard countries and tho large silver-standard countries, it ap pears that in IM,) t li stock of money in the United r'ates was over $25 per capita, iu the I uited Kingdom nearly $20, aud in Oermauy nearly $ 0, while i" . ' , .. j.ipda'wiis $i. i I, iii lMssia mid Finland $-(.32,. and iu (.'hiii i$l.2'l. The gold-staii bird coun tries uso large amounts of silver as money, but the silver-standard coun tries use no gold us money, an I cannot do so for the reasons I have already ii dcuvorc 1 to explain. Hut, gentle men, for the reasons already stated, the eominetciiil Nations of tho world do not now require the same propor tion of metallic money in the transac tion of their business that they re quired a few centuries ago, or even one century a,ri. Credit !ius been vastly cUeuded mil the use of paper in the form of notes, checks uud bills has almost entirely displaced metallic money in the daily business of tho people, uud as loug u these forms of credit are kept equal iu value to tin; metallic stall lard, the ef fect upon the prices of commodities is precisely the same as if the whole vol ume of circulation cousistw-d of stand ard coin, for, us long as equality iu their value can be maintained, the paper representatives of the dollar perform exactly the same olli,o iu the exchange of commodities that gold dollars themselves would p.-rforni; but if this equality is destroyed, tho paper is discredited, its purchasing power is diminished, and the people huvo no longer a stable measure of value." Tho St. Louis Republic (Dem.) be lieves that true Democracy will luvor sound money. It declares : "Not only does tho past of the party condemn thesilver monometallism o the lii lo-l politicians, but ull educated financial authorities ou earth, including tho ardent binietallists, urn pronounced in opposition. If tho party ever does pledge itself to free eoiui-.ge of silver ut M to 1 with bullion selling at sixty live cents an ounce iu gold, it will have to light against tho colleges, tho business men, the soli I farmer'', and ull other intelligent, educated, re spoiiMble, and moral forces. " Silver .Standard JJ "7 - 1 .
Significant historical Pennsylvania newspapers