The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-04-23
THE SILVER QUESTION.
ReiOinder TO a Communication on the
Same Question that Appeared iR the SEN
tiEeI of the 10th or April

Same Question that appeared In the SEN
tiEel of the 10th or April
Communicated
In the Sentinel of the 10th inst. "Jons-
than Old Stylen has an article oD the "Silver
Question: in which he quotes from an ar
ticle Of mine published a short time ago.
Evidently he misunderstands my views. He
says that seek to make silver money obi
Gus by an attack on the law requiring its
coinage" There he l2bors under an error.
do not seek to make silver money odious.
The law does that, and it is the law desire
TO be regarded as odious. Ny position, as
stated, was and is this: Let Congress f. by
law the rs;iO between gold and silver to be
used as coin. No matter what it is, only let
il be definite. Then let the silver coin be
equal TO the gold in the quantity of metal it
contains, measured by that ratio. Then let
the minis coin so much SIS can be used and
whenever it is needed. Trade and COM
meTce and public convenience will float so
much silver coin, aud it will float no more.
When it reaches its limits it will meet opp
sition, and then let the coinage stop. In
time, from various causes. the supply will
be less than the demand; then let more bs
coined. Like other properly managed bust
ness, il will soon be regulated and thereafter
will regulate itself.
NJ. "Old Style" and everybody else may
as well recognize now as at any other time
that gold dominates silver, always has and
always will, all over the word. Its utility
value alone would enable it to do this if
there were no other causes. For that and
other causes, by common consent, it IS given
s supe riority, and for the pur poses of money
1t will remain the highest standard. In this
connection l desire to repeat few facts that
may sound like pls.itudes but they are IN
/ derstood by too few and too seldom consid-
cred by those who DO understand them.
Mr.. odd Style" spssks OF the 'demonetiz-
| ing" OF silver by Cons rsss. That has never
bsen done, and IL is net II the power OF Con-
| irsbs O. OF any Other authority 10 demonetize
| it-onIy common consent Of nations eau do
that. Congress said il should rot be a legal
tender Is between debtor and creditor bat
that aid not and will not destroy its sctua
vslue as a commodity used fer money nor
take away its purchasing power.
Money is only an idea primarily. II is the
name given 10 that which IS used 10 effect an
exchange OF other commodities aRd pass
current as 2 rsprssen tative OF this exchange
able value Of those commodities. The ma
tsrial from which money is made is itself
COlAllOHllY, W. III that ctdpc l. 1cAdlus It's
purchasing power IS 10 other commodities
and still measures their exchsngeabls value
Government simply puts it in convenient
shape for handling aud common uss
fixing q standard of fneness, a definite
size, shape, weight and stamp, and then
giving it a UNCONVENTIONAL reprssen tative
value for the parpose OF measuring other
things according TO a fixed unit Of value
| For instance, the law will say, pure gold
must be so many carats fine. So many parts
OF this gold and 50 many parts Of silver or
| copper Tor other metslit may name) shall be
the material for gold coins. So many grains
| OF gold shall be equal to so many grains OF
pure silver. So many parts OF pure silver
| and so msny parts Of nickel or copper Tor
| other metal ii may name) shall be the ma
| teriGl for silver coin. Gold may be made
| into coins Of such 8 size aud weight. Silver
may be made into coins of such another size
and weight. But through it all, so many
] grains Of silver are equal to so many grains