Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-02-09
Il CORRESPONDENT SEEKS INFOR
M1TION.

MILTON.
Our correspondent, zone millionth,"
propounds series of questions which have
been fully answered at every stage of the
pending discussion. This is the letter:
To the Editor Of the GLOBE.
ST. PAUL, Feb. 4th; 1878.-May / be per-
mittcd to ask few questions in regard to sill
reconciliation? I acknowledge being at
present an anti-silver man, but am open to
conviction. 70,
We are told that it is the masses, the ''toiIing
Millions" who are clamoring for silver, and
who are to be benefited by it. Willyo please
tell me how they are to be reached? 1t seems
to me that if silver be remonetized it will i'm
mcdiately be used by employers to pay their
hands-not with a dollar and five cents for
but with ninety-fve cents worth of silver Tor
thereabouts,) stamped one dollar.
The grocers, the dry goods merchants, the
boot and shoe dealers, all dealers in merchan-
disc, will Immediately put up their prices to
correspond with the depreciation of the cur
rency, thereby reducing, for the present at
least the laborers wages five per cent. In the
course of time labor would also rise, thereby
placing us where we we're before, but as labor
is always the last to feel the upward impulse,
and the first to feel the downward pressure, it
seems to me that labor will be hurt instead of
benefited by the proposed change.
Hoping fot reply, and assuming that your
columns are open as we'll to the laborer as to
the millionaire, l am, very truly yours,
"a ToILING MILL1oNTH."
GONE Millionth'' will find all the informa-
ton desired, and more exhaustively and
more in detail than we have space for, in
Senator Thurman's speech delivered in the
Senate on Wednesday, and published in
these columns. The subject is therein
discussed in all it's phases.
The trouble with zone Millionth'' is, thai
his premises are false; he assumes condition
of affairs that never has existed, and never
will exist, he suppresses the major premises
the elementary truth, and admits his erro1
in his very questions, and actually, although
unconsciously, answers and convicts himself
of error. He assumes, that if silver be re
monetized, it will remain of the same rela
tive value to gold as now. This comedies
that its characterization is the cause of the
present depreciation. It must be, therefore
that If the cause be removed, and silver re-
remonetized, the depreciation will cease, an6
silver regain the value it always possessed
until the fraud of the moneyed conspirators
was perpetrated in 1873. Now where doe.
''One Millioneth'' find himself?
But this is not all, nor half, Restore thu
silver dollar of 412115 grains, make it lega
tender, and it's value will be equal to that O.
gold, or at least to that of greenbacks. The
greenback has no intrinsic value, does no
circulate out of the United States, is no
receivable for customs duties, or of interest or
the public debt, and yet day, the greenbacl
is less than two per cent of par with gold
Make the silver dollar legal tender, receiva
bic for customs duties and interest, on tn,
public debt; it will at once be at par will
gold. Let 'sOne Millionth'' remember tina
Russia, India and China, are silver countrie
and France bi-metallic, and that our silve
dollar will circulate outside; that it will b.
rated, at Is 98-1OOths, while other nations
give but 15R for one. Gone Millionth'
must study the question, he is at the TIRES
hold, he may be able to understand the sub
ject after while.