The Ketchum keystone. [volume] (Ketchum, Idaho) 1885-1899, 1891-02-07
Objections Ansvered.

A private letter from New York
takes us to task for advocating free
coinage of silver. The writer says :
II am sorry you advocate free coin
age, or, in fact, any silver legis.
lation. II were better for silver
producers that the subject were left
entirely alone. Although the gov
eminent is purchasing nearly the
entire product of the United States,
silver is very low. One trouble is
that the government purchases from
the lowest bidder, and we are there
fore importers of silver instead OF
exporters, as heretofore. But the
whole matter should take care of
itself. 1t is a mistake to interfere
with the laws of commerce"
In order not to do our cores
pendent injustice we have quoted
him entire. His first proposition,
that it were better for silver pro-
ducers that the subject of silver
legislation be left entirely alone, is
not supported by either fact or ar
gument and amounts to nothing.
The fact that silver is low, potwith-
standing large purchases by the
government, must be because the
law has interfered to make silver a
mere commodity, like stonecoal,
corn or other merchandise. Having
been demopetized at the instigation
and for the benefit of the creditor
class in this country, silver huctu-
ates in price, bene6ting by its Auc-
tuations the same class but injuring
the producing class; for when the
price Of an article depreciates some
one must lose, and if that deprecia-
ton is brought about by artificial
Reconsideration the producer of
the article deprecated must be the
loser. But the law in this instance
not only deprecated silver, as our
correspondent must know, but it
appreciated gold, thereby appreci-
ating the debts of the nation 50 per
cent, while depriving it of a princi-
pal means of paying those debts,
at the same time making it cost
the producer OF silver and all other
produced in the country 80
per cent more for supplies than it
had done before silver was demon
etized.
That we are importers of silver is
denied. Trade conditions determine
the movements Of silver, and not
laws of Congress; and while at
times an excessive influx Of silver
into this country may be noted,
there can be no such thing as
steady movement in this direction,
for the reason that no country on
the globe holds any super-excess of
that metal, and if there was any
such excess it would go to India,
where unlimited legal tender silver
coinage prevails at coinage valu-
alton of 7 per cent higher than our
free coinage valuation. This of
itself would operate to check any
systematic importation of silver
into this country if the silver ex>
listed to import, which it does not.
But our friend says 1.-the whole
matter should take care Of itself.
It is a mistake to interfere with the
laws Of commerce" This is a fact,
and yet in the mouth of a mono
metalist it becomes an attorneys
plea. The advocates of free coin
age ask only that the government,
having interfered with the laws of
commerce for the purpose, as shown
above, of enriching favored class
At the cost of all Of the producers
Of the country, shall now withdraw
that interference and letit "take care
Of itself" Reenact the law none
tizing silver, and the prosperity and
which will follow will
DOT be confined to Wall street, nor
10 bankers, stockholders and other
sharpers gendered by class legisla-
ion, but will be coextensive with
The country, and the producing
classes will not in the future, as
hey have not in the past, ask for
legislative interference in their be-
half. They ask only for a fair deal
in the game of life: equality before
the law. This they are entitled to