The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1885-11-05
Silver Discussion.

DcltNlu6 SnbC SACAO 40 VAS0VAA -
a multitude Of counselors, and
furthermore, believing that the best
and most practical craftsmanship
is more frequently found among the
humber toilers Of the land than
among the doctrinaires, the Globe
has sought an expression OF opinion
from all classes OF people OF the
Northwest In regard to the subject
which will be Of great importance
than any question likely to arise in
the next congress. We refer to tho
silver question. We are In receipt
Of replies from representatives Of
all branches Of industry, and the
unanimous verdict is opposed to the
suspension OF silver coinage. The
bulk Of them prefer that the weight
Of the silver dollar shall remain un-
changed, and few Of them favor
unlimited coinage, making it COM
pulsory upon the government to
coin the entire output Of silver for
each year. As an illustration Of
how this subject is regarded by the
mass of the people, we have care
fully selected and herewith publish
extracts from arguments Of cores
pondents who represent the various
Industries OF this section Of the
country. One correspondent, who
represents the sentiment Of the
farmers Of the northern part Of Iowa
says:
hancing the bullion value OF the
silver dollar OF 24l} grains is in
providing for its unlimited coinage
upon precisely the same terms as
apply to gold. It is this, and not
the quantity OF the metal used In
the dollar, that establishes its bull
lion value. The present law limits
the silver coinage, in the discretion
OF the secretary OF the treasury, from
the minim um Of %, ,OOO, 600 per month
to $4,000. 600. In Its exercise the
coinage OF silver has averaged about
$28, ,OOO, 900 per year. The output
Of the silver mines has been about
$48, ,OOOO0o per year, and this surplus
has been p ut upon the market, the
price it brin gs as o commodity reg
ulating and controlling the entire
product Of the mines. Had its coin
age been unlimited them We should
have had nearly forty-eight mil
lions OF dollars coined per year
instead Of the amount that has been,
and as the bullion for each dollar
would have exchanged at the mint
for o coined dollar, it would have
been worth that sum. This free
coinage OF silver, whereby the bull
lion could be exchanged for coin ut
the mints, would also relieve the
treasury vaults Of the coin stored
there, putting the money where it
would stimulate the business and
industries OF the country. It is the
credit given them by law which
causes gold, silver and treasury
notes to pass at par. Restrict the
coinage OF gold to half tho annual
product and the surplus which the
producer would seek to exchange
for something that would be legal
tender for the satisfaction Of con-
tracts and the payment Of debts,
would become q commodity. and its
bu"ion value be less than Its legal
va Q.
history and human experience
alike teach mankind the important
truth, that in every country into
which money begins to dow in great
er abundance than formerly, every
thing takes on new life; labor and
industry gain new life: the merchant
becomes more enterprising; the
manufacturer more diligent and
skillful, and the farmer follows the
plew with greater attention and
alacrity. Good policy consists in
keeping the volume OF money if|
possible always increasing with the
population and business by that
means the spirit OF industry among
all the people Is kept alive, and the
stock or the labor increased wherein
Is all wealth production. To Ia.
crease the weight OF the bullion in
the dollar Is to make it profitable to
export for coinage, which would be
as detrimental to the interests OF
this country as the present policy OF
boarding It In the treasury"
And the correspondent writing
from Benson In this state thinks It
would be just as sensible to speak Of
putting SILT worth OF gold In a
dollar as S5 cents worth OF silver.
His notion Ia that I eitheg metal :