The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1891-11-13

should be passed declaring them legal
tender. and that only those In the Treas-
ury bought BY the Secretary at their
(" market value" should be redeemed
but none In tho hands OF private holders
should be redeemed. and fve new ones
should be Issued for every four re-
deemed; We should then have the same
condition Of the grccnback that We now
have with the silver dollar. II specula.
tore said that when the market value Of
the greenback In private hands Was,
equal 10 their redemption value IN the,
Treasury they might BE- redeemed, but
until then the Treasury was entitled TO
the profit on redemption and reissue,
because otherwise the private holdersI
would be benefited, such men would be
accounted fools or knaves not what the
opponents Of redemption, except under
now call themselves
"the friends OF honest money"
Every s'honest" dollar must have re-
dem ption behind Il. 1t cannot be honest
unless Il has And that redemption
must be free to every holder. lt must
not limit the redemption Of the green
back dollar. or the silver dollar, or the
gold dollar. 10 the paper or metal 10 the
Treasury. When some one discovers .
way to make IN honest silver dollar
without redeeming l12 grains of silver
in legal tender coin OF equal weight.
we can then stop our redemption Of 25 8
grains Of gold 10 . coin OF equal weight
TO give us 40 honest gold dollar. But
until that discovery is made the only
way known to make the gold dollar
honest mnst be used TO make the silver
dollar honest. That way is redemption
-or free coinage"
The redemption Of gold and the re-
demption Of silver differ in no principle
from the redemption Of paper. When
tho Government says that . piece Of
green paper containing the promise Of .
dollar Tho pswn-ticket for the metal
shall be legal tender, and shall have the
value OF . dollar, Il bas to put behind
thst piece Of green psper, that pawn.
ticket, redemption 10 metal dollar. II
Il does not, the piece Of green paper is
only worth fraction Of : cent. Sinh
llsrly, when II Gays that Az grains of
bar silver shall he . dollar, Il must put
behind that 4l2 5 grains Of bar silver its
redemption 10 legal tender coin, or the
4l2.6 grains will be only worth about
Y 81 cents. II II redeems honestly and
free Of cost. then Il will only coin what
'lis offered by private holders. II 4 re-
'lfuses redemption, as our Government
does, OF al bar silver In private hands,
land redeems only the bar silver that
lcomes into its own possession. then Il
lean dictate what the prices OF bar silver
shall b ~ what the loss Of interest shstl
} Be 10 the private owner while be holds Il
awaiting coinage. He must offer the
: Government bonus TO redeem HE sill
, YER in legal tender coins, and this bid
> ding sgainst one another by the private
, holders OF silver dollars for redemption
makes what IL called "the market price
of bsr silver" Properly speakings the
} Indifference between 81 20 per ounce, the
tlcoin value, and the market price Of bsr
leilver is "the cost OF coinage" the
!. amount out OF which the Government
| llswindles the holders Of its "lawful silver
/ ldolIarsv before Il will redeem them In
! legal tender coi0s.
u Il there anything TO prevent the
4 United States from redeeming every
ounce OF uucoined silver in the world
The highest estimate that has ever been
made II the uncoined silver on the mar
} ket is 70OOO0OO ounces. which can be ro-
t. deemed with 9OO0O.O0O silver dollars.
! We have stored in the Treasury vaults q
4 Washington $4,000 900 silver dOlIars %
,'tbcv csme from the mint. To redeem
'|this uncoiued silver in these silver dol
.IIsrs. 70 transform into coin currency this
Y unu ssble wealth now locked up, would
throw upon the market 99CO00.000 In
illegal tenders, which would drive down
the rate Of interest and injure those who
.Ilend. The redeemed silver could be
coined and The dollars replaced In the
Treasury vaults at the mint's pleasure
land convenience.
i There is nothing 10 prevent the United
Estates from opening its mint to the free
coinage OF silver, 10 the redemption OF
everv one or it, repudiated snd lawful
\ ssilver dollars" for every 4l2.t grains Of
Iuncoined silver now on the market 10 by
EIlaW Z dollar which it 10 pledged TO re-
deem In legal tender coins pledge Il
i hss deliberately refused and refuses to
perform, except at profit Of 25 per cent.
\ sThis would he imitation, in6stion Of
1.-THE wildest kIDdl" Would M Il the
\ addition or gold to our coinage infistion
IN its ordinary sense? Would Il Be In
flstlon 10 put ten extra gold dollars Into
I ne pockets Of every man 10 the United
/, ,Statesf
! By imitation We mean the increase 10
1.-The number Of promises to pay. We DO
not mean the increase in the number Of
] sctual dollars with which to pay our
debts. An increase 10 our assets is very
different from sn increase in our IiaoiI-
j AZ increase 10 The greenback legal
lltender would be imitation because the
ereeuback d : debt, but an increase in
the gold coinage OF the country would
, noe 81 Imitation because thst Z en In
, crease of The material with which our
debts are paid.
y There . no imitation 10 % increase q
metal currency, where every legal tender
S~S1>s ~>essa - worth thu nam0 amount