Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-10-05
OFFICE Of THE RAILROAD COMMISSION OF J
TEXAS,
AUSTIN, TEX, Oct. =, 1891 !

A Is, fsq-, 1OFh.'Id-
DEAR SIR-Your printed circular letter CT
September p is Just received in which YOU
argue not only against silver coinage being
made an issue in the coming federal cleo
tons but also against the Justice of silver
coinage: that is. against trying TO estate
fish double standard of value and reduce
the entire basis of the country from the
worlds standard of 100 cents to - cents
You say further: If we lose lin the
election of 1892, which does not now seem
at all probable, all will agree that free sill
yer did it,
You say further: 1T takes no very astute
or remarkably keen vision to see that free
silver is dead; and that after this falls
election it will cease to be an issue"
You make other statements as remarka-
BILE as these, and as far from what | under
stand to be the real facts and the condition
of public opinion. But in the pressure OF
business engagements | can only notice 4
few of the salient points Of your letter. [
only do this because you, and others who
advocate the same policy, ought not to be
allowed to suppose that the great body OF
the American people are conserving TO be
again
CHEATED BY THE MONEY POWER
into the sacrifice of the interests of agri-
culture, of labor, and of those engaged in
professional pursuits for the benefit of the
money lords, bond-hOlders and bankers of
this and other countries.
In relation TO your statement about re-
ducng the entire business of the country
from the worlds standard Of 100 cents TO
40 cents, ] have to say that the single gold
standard only exists in a limited part OF the
world. The single silver standard prevails
i'll several times the greater part of the
world, Us is known to all who have correct
information ON the subject.
Then as to the seventytive cent dollar, it
is due to truth to say that the silver dollar,
was the standard and unit of value
from 1892 until the passage Of the act of
1873. which suspended its coinage. That
when the coinage of silver was suspended
in 1913 it was at a premium of about 3
per cent over gold. That its degradation
in price and value is the result of hostile
legislation, and not because of the want of
inherent value That hostile legislation
made silver a commodity to be bought and
sold at gold prices, like cotton or wheat;
and since its partial recoinage has been
provided for by congress, 1t Is required to
pay for its coinage, while gold is coined
free of expense to the holder of the bullion.
And the moueyed men, and banks and bond
holders, and those having fixed incomes,
whether of this or Of other countries, have
taken an active part in this crusade against
silver for venal, selfish and unpatriotic
reasons: and.their combined influence and
the cowardice of politicians have enabled
them to whistle the silver question down
the winds at each recurring presidential
election And this is done in the face of
the known fact that there is not state
south OF the Potomac or west OF the state
of Ohio which is not in favor of
THE FREE COINAGE OF SILVER
the same as of gold. unless Wisconsin may
be the exception. And the state Democratic
convention of Ohio has at its recent meet
ing declared in favor of the free coinage of
silver
III relation 10 your statement that if we
lose in the next presidential election AL
viii agree that free silver did it, have 10
say that while | earnestly hope for the
good OF the country that the Democracy
may not be defeated in that election. | fear,
if it shall be defeated, it will be because Of
the betrayal of the interests of the people
for the benefit of the money classes, 10
which | have referred on this question of
the free coinage of silver.
l hope the Democratic party viii not be
less capable of cOmprehending the true i'll
terests of the country and the determina-
ton of the American people on this subject
than the Republican party. But | confess
the political drift at this time does not look
as favorable i'll this respect as is desirable.
Your suggestion that after the fall cleo
tions free silver will be dead aud will
cease to be an issue,n if it is anything be-
yond one OF those political predictions born
of desire to influence public opinion.
shows. it seems to me, how little the writer
knows of the public opinion of the country
on this question.
Possibly the power of money and of or
ganizatiOn may inure for the time being 70
the benefit of those politicians who worship
the golden calf. and put aside the demands
OF the people for Justice: but the chances
are that the time is not in the distant future
when they will sorely repent their abandon
ment of the rights of the people and their
subservient trucking to the money power
as
MEANS OF SECURING PRESENT SUCCESS.
l have left out of view the fact that gold
and silver are the money of the constitution;
that the traditional policy of the people of
the United States has been to maintain
gold and silver as the money OF the country,
the unit of values, and that in every test
vote which has been taken in congress from
1873 to this time, the overwhelming ma
jority OF Democratic representatives and
senators has been in favor of the free COIN
age of silver.
1.-The coinage of silver should be free of ex-
pense, like the coinage of gold. and it should
be unlimited, and the silver dollar liAe the
gold dollar should be made the unit of
value This would restore to the people of
the United States their constitutional cur
rency. 1t would make silver part of the
money OF the country, and take it cut of the
category of commodities to be specialized in
by the mOnometalists. And it would make
some increase of the volume of currency.
But changing it from commodity TO money
is of greatly more Importance than the in
crease OF the currency would be, and then
every dollar would be 1G0-cent dollar, as
it always was before the time when the