Telegram-herald., 1890-12-08

euii ga Per nsoaE1. neF mors tnaa foar
aili1Ea a. lzFs ~eft4, - &c c1lAed lzl9
st2as44za dss.4rs.
10 So ne c4ss - snokhsF SAY BIZ
LIE l4s Qf lTsz kh@ sss<x 40 a. sss
a1aas Lba 4alt 81 esq e4rFsaeg. Ne
tn@n nx4 tlae silver sks1dsrs. B. ths
2et 81 ISIS, Ihe <ota dellaF u4s 1zs<
ne ualt o. e1E eufEeacy ana ssnce Iaat
uele se Base b2d tie 81 staaa4fd
10es e soule noG sake Ehs q sixntss1
dl1sfence "a the w9fid wasch : tfe
sS4naAEd 4 the slseF dollar Of az
grsins' wesgnt. 4na tae god aollzF II
zs-s gF.ias s~ignt. we're cf equ4l value
a. sslllioa. Bat tb~y zrs nssE. A. sne
pFsseat E8us lbe ball "a value 0k Ehe
silver 1oiizF = about - ee1Es.
''seaztor Plumbs ell provides for
ne Tree cen age OF ths silver dollar of
tizf <Fzlnss aud OF ths g0l.i dollar of
z9s grs as, ezen 10 - = t0ll legal ten
aef ~ any aB0uBt.
'-esaalpr Tslisrs bsli provides for the
Tree coinage q a silver dallsr Of 4oo
grams standard, Hnicn : % be fnil
legal tender, and 80 D. the only unit Of
our coinage. It tsszt~ - say that i
tree coinage silver bill = passed & vii
nos reduce the selght " silver Ia the
CON, however.
The argument in fsyorof free coin
age =, that that the l0g price OF silver
. because 0f is drmonetizatlon by al
the great civilized nstious. including
ourselves that 10 establish free coin
age vii bring its value up 10 practical
parity With gold; that the free coinage
or silver viii add 70 the circulation.
which IS too SINAI, and thus be source
OF prosperity 10 the whole people; that
the silver dollar was the unit and
standard from 1892 TO 1873; that all
debts contracted within that period
were made IN the silver dollar. which
Was our monetary unit; that the com
age act OF 1872 which demOnetized the
silver dollar and established the gold
standard, perpeuate a wrong upon
the people. which wrong should be
nghted al once.
"Ihe argument against free coinage
IL that the depreciation IN the price OF
silver, as compared with gold, has been
gong on ever since the silver mines OF
Peru and Mexico poured their floods
into SPAN and Europe IN the sixteenth
century; that whereas the ratio be-
tween the metals, established by
the coinage act OF 1892, was
correct then, it is 50 no longer,
because of this slow and steady
depreciation OF silver; that AS all the
great nations have demoneuzed silver,
We alone can not, by is reconciliation,
make II increase IN price TO par with
gold, but that free coinage Will simply
cause us, in effect, to 90 from a gold
standard 10 a silver bullion standard
that IS, that values will be measured IN
an o0-cent dollar, TO the utter derange-
ment of our finances, causing confusion
and ruin IN the commercial world; that
all our bonds, and all debts contracted
since lS73-seventeen years ago-are
payable IN gold standard. and TO make
them payable IN an So-cent dollar would
be dishonest aud fraudulent; that for
years before the coinage act of 1873, we
had fiuctuaung paper currency, and
that law merely placed our monetary
system on the same basis as that of all
other nations; and that free coinage
would help no one but the millionaire
silver mine owners, who would thus be
enabled 10 get legal tender silver dol
lar for every so cents worth of silver
they presented at the mint, and thus
reap fortune at the expense of the
people.
"fhe question is grave one, with
the difficulty that 1t u impossible 10
predict what would really be the result
Of free coinage without making trial
of II; and It looks now a. though we
were going to test II by actual expert
ment. There IS one thing certain; No
law can make the value of dollar
easier TO obtain honestly than it i:
now"