New-York tribune., 1891-08-28

Nm, ,hev sav with free coinage the price OF siNe,
,n rtse 4, its old ratio with gold The experience o
all tbe world bellies this statement In no couaus
a. the nvcrId where free coinage exists Is sixteen
onnces of silver equal to one ounce OF gold run
"a the limited states maintain the parity betwecn
the two by rarefully limiting tho coinage ana reo'
'nc and redeening silver coins as the equivalent o'
Ia put wherever free coinage exists that Is I'M
on,s with free coinage the market value Of the
sn,ron fixes the value OF the dollar. The Mexican
ana contains more silver than the American doliai
and ve, the Mexican dollar is worth about as een's
dia dolar ,s limited SO in all freeconage countries
where silver SIone IN ali sHDs cSnnr Il Were weTe gold c
,s,sS the coinage Of silver is limited. bnt Us used a.
ghee Sd eonps sae The free Coinage Of silver IN either
wEs SR tSRntaaS @ So9as 9aset Of wSSd SSd be to give to
PRODUCERS OF silver bullion 81 20 for elch ouoce ~
silver now worth 1TT cei H bs Sut 10 's Semoe1e Sod
snd substitute the single silver standard ana eod Mu
e nSed bT or ss s%Toeaes es Of eS 9 a. cosSo
Warner one OF the most Intelligent aavoeaos 1 NJ -
coinage told me that II such would be the cnto' va
free coinage he would oppose It, The only ,o %onSs s
is at g ntsSent R nan .ae Ga to doSo rod IT. though more
nS6ey naH fnce a and nG2I the Latin tn haons
ancd their chief silver coins at par with ,ns go psy
conine more and receiving their old CONS tu pttss
With but win receive er @ aacsTv silver for Seen sT
at the ratio of sixteen TO oDe they VIII elsei5 or
sDnSso s Of It f fe s' uatsd sfssP states silver At pa
with gold By a sns Gr %ns se purchase es brought
foreign silver to at market price How mucn NOR nor
VIII it bring Il we offer 80 cents an ounce ted Mofe
alone can maintain silver at the old ratio OF sixteen %
TO one Of gold is wilder delusion than ever nleai %
tbe brain Of believer IN fat money. The lear lhoe
vre voud ATTEMPT n carried seventy-seven millions
Of gold from the United states within four months.
What gold do have to draw upon We had o., on
this hold trust s11Go94 $50 for the payment OF
gold certificates This is not the money of the United
states. but it Is The money Of the depositors ana
can only be used in redemption OF their &
leaving in he Treasury only tdIaS ,ons S oe
Of this gold is under existing law held for the re-
dempuon Of S346,0O0O00 OF the United states notes
standard no one will present these notes for redemp
ton, but the free coinage Of silver or the purchase o
all the silver offered. will create the doubt yea, the
certainty that the gold standard cannot he manalncd
and the United States notes vii be presented 1or
effect viii be that gold win be at premium to be
by the renee IN md mqet n"sncon a C Of on
people will be measured by the silver standard. The
United States win be detached from the money
standards of the great commercial natlons ana VIII
take Its place with China, India and the undevelopei
South American states.
THE POWER OF CHEAP MONEY.
But it Is said If adopt the silver standard VIC
viii get more money for our labor and productions
This does not follow but even If It be truo the pur-
chasing power Of our money Win be diminished All
experience proves that labor and the productions OF the
farm the last TO advance in price. Even IT, after
a long struggle, wages and wheat should advance as
silver falls what benefit does the farmer or aboer get
None whatever. lie will get more dollars with less
purchasing power Silver dollars worth n cents In
gold will buy no more food and clothing than ~ cents
0rotect tbe1sdy"s from loss by stipnane for gold
payments This is almost universally done now IN
California and other silver countries, and is generally
other securities running for q
advance his price as the silver falls The whole bur
den of this polIcy fls upon those who depend upon
their daily labor for their daily bread and for the
benefit Of those who hope by cheapenng money a.. TO
pay their debts with money less valuable than me
oncy 9o dIe ,ey yr9GTesd sgs = n ts way to pscps in
fraud cannot believe, II they understand it, they
Rat if is said, we want more money TO transact the
demSnellzins onehaif Of ali we have for the gold now
in circulation IS than onehaf OF the coin In clrcu-
latl0nl II Is now tho basis OF all tho great tansac-
tons Of foreign and domestic commerce. With gald
at premium, It will sink ont Of sight ana be bought %
the war, after the suspension Of specie payments we
the premium on gold Now both are on the same foot
ing. You receive your pay in the highest standard Of
money whether It be a bank note or a greenbsct or
silver or gold certiacate or Teasnry note . Is hacsa
lvcr and gold 70 make good IT'S promise for when We
now sue Tr%e1sg % notes for d silver bullion IL t We s
value in gold. The gold and silver and notes whic,
! Won are now paid VIII travel anywhere In the world
| and everywhere be received at par.
INCREASING THE CIRCULATION.
If an Increase Of currency is desired you can have
| It under existing law. Modern devices have largely
superseded coin In actual use, but its proper rep
resentaiives and the use OF checks, drafts, building
associations, postal orders savings hanks and the like
enable our people in all conditions OF life to conduct
| their business with less money than formerly. M
one now thinks of keeping his money in the clock OF
| in stockings, Of old and most welltodo farmers
either have or ought to have their money on safe
| deposit subject to check.
With free coinage they must either receive and
hoard silver dollars weighing about sixteen TO a
pound, or Treasury notes precisely in form such as
we now have, but both of less purchasing power than
fhe S so9 foeT G0f or or orer or prodnor In any
! ment Of industry be benefited by this change Is
can see how under free coinage producer OF
silver can at first get dollar for 81 grains OF silver
while now he has TO deliver 45o grains for dollar
but this advantage will disappear prices adjust
themselves TO tho new standard Of value as certalr
I to take place water 70 seek It's level His new
| dollar win be measured by It's intrinsic market
value When It to be used to purchase ,a food G
dollars to buy them in exact proportion to the relative
value OF the gold and silver dollar.
! / can see how a man who contracted debt since
| 1870 when specie payments were resumed. can ap
parenily pay Ii with fewer grains OF silver but hl'
benefit will be greatly diminished by the dsturbanc,
ton of gold and the loss Of CONFIDENCE and credit and
| perhaps by the prompt demand Of payment by the
| creditor or the extension of the debt only upon
| stipulation to pay in gold. This advantage TO tht
debtor Is the same that bankrupt kings and despot
exacted In olden times when they debased tho coin
| Of the realm issued money worthless or de
precioed promises to pay. an expedient OILY justified
in times of National peril when coin disappears from
! circulation.
CHEAP MONEY AND THE WORKINGMAN.
But how can farmer or laborcr or other produces
bo benefited By cheaper dolarl The dollar is thC
measure of his toll 1t is Only useful to him 10 buy
the necessaries OF life TO ccumuate property fo
advancing age. It's value is measured by It's pur
| chasing power. Cheaper dollars make moro dollar
necessary for his wants. The relative market value o
al commodities will rise or fall with the market valu
of the dollar, and unless the silver dollar Is worth
much as the gold dollar II will not buy as much ho
and hominy the gold dollar. No Government j.
powerful enongh 10 Tx the price OF anything. w
Tried that during the war, bur the price went up Tn
dollar went down. III the North tho greenbnck dollar
the sacred promise OF q nation, wold at time bu!
| only as much as 40 cents the South. TN