The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1891-09-10
titerest, giving his note and mortgage or
ether security for repayment.
Glass Legislation.


Glass Legislation.
Free coinage of silver is nothing more, 4
nothing less, than class Legislation for the
benefit of a particular industry. Silver
mining is an industry, the product OF
which is silver bullion, the same as farm
ing is an industry, the product Of which Is
wheat, corn, beef, etc. Does any reason
exist why the Government shall convert
all the products of the silver miner into
coined dollars, clothed with the power OF
paying ~ per cent. or 20 per cent. more
debts than its market value, that does not
exist for converting by the Government of |
all the products OF the farmer into coined |
dollars or their equivalent each having the |
power to pay like excess of his indebted |
nesss
In one case the Government enables the |
silver producer to realize for the products /
of his industry from 20 to 25 per cent. more |
than their market value. If the Govern |
ment may rightly do this, can any reason |
be urged why it shall not enable the farmer |
TO realize for the products of his industry |
from ~ to 70 per cent. more than their |
valueP Or, If it may not rightly do this for
the farmer, on what ground can it be seri-
ousiy urged that it may SO discriminate
against the farming industry, in favor Of
Restricted Coinage.
Under free coinage neither the Govern
ment nor any of the people. except pro-
ducers of or dealers in silver bullion, can
derive any pecuniary benefit. Under re-
strictive coinage. as IL EXISTS at present.
any possible resulting profits inure to the
benefit of the National Treasury and
through it to the whole people without
doing injustice to the silver producer. The
law requires that the Government shall
pay him full market value for his silver
bullion. When he receives this he cannot
complain that injustice is done to him any
more than the miner of lead, or copper. or
coal, who receives full market value for
the products of his industry, can complain
that injustice is done to him.
On such purchase and payment the
Government becomes the owner of the bull
lion, which it stores in the Treasury vaults,
or coins into dollars, any subsequent in
crease in the market value of which inures
to the benefit Of the whole people, through
their common interest in the finances of
the Government. Under this policy there
is now in the Treasury of the United
States S74, ,4s9, ,O4O, which the Government.
under free coinage, would have been COM
PEELED to return in coined dollars to the
silver miners, over and above the market
value OF the silver bullion by them sold to
IL, tnus pestowlng on them this amount of
additional wealth as gratuity which no
other industry enjoys. The figures above
gwen are Official, as furnished by the
Director of the Mint.
This result thus arose: When the bullion
IN silver dollar is of the market value of
loo cents, the market value of an ounce Of
fine silver is 81 20 in gold. If the Govern
ment had paid to the silver miner 81. 20 for
every ounce of silver bullion purchased,
instead of having now in the Treasury it
would have paid back to the silver pro-
ducer the above $74, ,4S9, ,O4O in addition to
what 1t paid them in fact. But it paid
them for their bullion only the market
value thereof. which was considerably less
pons Cno 'aie sun. ~ pau 'neh tne mar.
Nes yai9e VI Ineir Prooucc' Wnlon ls all
sney nau rignc 10 demand. Ineir ciamor
.ol ITO ooinage now ~, onat tne Govern.
nn1. 1 n"' nsTe"u y. payng onem marKe'
vaiuo, snaii con tneir punlon anu return
cho eAooss aoo.o i'S luarAeo value 70 snem
1nus aueinen'ing 1neir wealth. py this
sfa'u'y'
Unequal hiches'
~ ls customary Ior Democratlc and otheI
cala!Cy oIaoors 10 oeGry 1ne unequal dls
IrlDutlon OF wealth. The denunciation o.
large incomes ana noted mllllonalres is
cnlei eienleh1 OF tneir eiocutlon. But how
can tnls oe reconclled with their clamol
ior silver pohcy, which can only result
IN sweiilng greater excess the already
gigantlc fortunes and millionaire income.
OF the silver producer, without conferrinl
any special benefit on any other class o.
citizen whatever? Under free coinage tn
above $74,OoOOOO, now in the Treasury
would have been added to these privat'
fortunes. Under it, the demand is. tina
OF the annual coinage of $50, ,O0O, 700 or $50,
OOO,OOO expected to be coined, a gratuity o
W to 70 per cent. thereof shall be addet
thereto In the future. Consistency, thol
art jewel
A Mystery.
How the intelligent farmer. machanic
wage-worker or other rational citizen ca,
be hoodwinked. by this delusion is a mys
terry. And yet hardly a mystery, either
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