St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-03-14
FREE COINAGE.
Two Easily DiscernibIe Sides to
the Silver Question.

Two Easily Discernible Sides to
the Silver Question.
To The Editor of the u lobe.
1t is not strange that there should be
two sides TO this question and that those
who favor, as we'll as those who oppose,
feel that they are intrenched behind
arguments which cannot be overturned.
The silver states, those in which the
greater part OF the silver IS mined, fur
nish by far the greater number OF the
advocates of free coinage, and it is rea-
sonable that such should be the case
when - cents of silver are coined into
81, and as such has the purchasing
power of 100 cents in gold. Those who
are fortunate enough to have 800
worth of silver bullion and who
take ii to the mint and have the
government coin it and hand over to
them SIPS bearing across their face ''one
dollar of course favor free coinage.
Suppose free coinage was the law OF the
land, the gold OF our country would be
sent abroad in exchange for silver bull
lion. which would at once be coined.
and in the course of time our gold would
entirely disappear, and the only metallic
currency we should have would be sill
yer. Foreign nations would then regu-
late the value of our silver, and we
should be at their mercy i'll monetary
point of view. If the products OF oar
own mines were subject to free coinage,
then we should hold our gold and thus
be able to float orr silver. Under the
present law. the secretary OF the treas
ury is required to purchase certain
amount of silver, and these pur-
chases are about equal to the
opposed to making 100 cents out OF Y
cents and stamping on its face. In God
we trust" and calling the bantling a
dollar. think all favor unlimited coin-
age of honest dollars; that is: dollars
which will be recognized and received
as 100 cents by the nations OF the earth.
1t has always seemed strange to me why
there has not been All international con-
gresS composed of representative men
from all nations using gold and silver 10
agree upon a coinage that shall he good
tor its face value anywhere and every
where. The most natural basis would
seem to be 100 cents as the dollar and
Subdivisions of five, ten, twenty-five
and fifty cents. The English sovereign
worth 81. So is an unnatural coin. Why
not add to it so as to make it 500 cents.
or s.. In Germany four marks come
within two cents of our dollar.
or mark, the nearest coin to
our quarter, is worth 2413 cents
of our money. The Canadian quarter.
when it has crossed the Niagara river
to our side, is worth only 20 cents. and
the Canadians reciprOcate when our
quarter passes over TO them. Inns
same congress could agree upon the
number of grains of silver that would
equal 100 cents in gold. 1t would seem
~ 4, 81
currency question the world over.
Should AR American happen to have in
his possession a dollar of the silver
coined in his own country, while on a
visit to England. Germay, France or
any other nation. it would pass for Its
value without hesitation, and should
representatives of other nations bring
their own money to America, 1t would
| be received in the same manner. There
may be some objection unknown to me
| TO this agreement among nations, out
| cannot see why any could be made. one
| gentleman said to me that 1t would never
| he agreed upon for the reason that
every country wanted to keep its money
! at home. but this does not satisfy me
/ for the reason that, las the money OF one
country passed away from it, the money
of other countries, just as good, would
replace it. Some persons have said to
! me that no definite value OF silver can
be agreed upon because its value is ever
changing. Why does the dollar pass as
such? 1t is because the government Is
suing it makes it legal tender. 1t
passes. for the government says, through
its laws, that it must be so received, and
if the nations of the earth should sc
agree upon the number of grains OF
silver necessary to make an equlvaleni
of one hundred cents in gold and make
the coin a legal tender Tor that amount
it would not then fiuctuate in value. bat
would remain fixed until changed by the
laws of the different nations. The
handy nickel passes for five cents,
whereas it is not worth one cent, but il
passes because the government issue;
IT and makes it legal tender up to {
certain amount The bills of thC
government have no value within them
selves, but when sent forth they arc
gladly taken as money because they
have the United States behind then
| ard through the law-makiDg powel
they are declared to represent wha
their faces call for. 1t does seem tina
with little effort Oh the part of one o
more nations, congress, such as | have
referred to, might be convened ant
through it the whole question of none,
brought to a common basis and til
matter of finance greatly simplitied.
r. w. JOHNSON.