The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1891-07-25
FREE COINAGE OF SILVER.
REASDNS FOR IT.

iN'N> " Hith W III W.
Others, being large majority, want
free coinage, for reasons founded on
correct principles of political economy,
and will it carried out be beneiicial to
all, and aid in bringing prosperity TO
the countIJ.
In all civilized nations, and many
semi-civilizcd, as far back as histoi '
gives any information, silver and gold
have been money metals, both being
carried by the governments of the diff
fcrcnt nations, and were the medium
of exchange, or the currency,b by means
of which the business and commerce of
the world was carried on. In the early
periods of the worlds history, they were
the only money used and paper money
was not known until comparative
recent period. Experience has proven
that paper being only n rcprescntativcly
or substitute for gold and silver is sub
ject to many changes of value, and
never stable or reliable, but gold and
silver as money, stand the tests of time
and all the vicissitudcs and changes of
human affairs.
In all ages until recently silver and
gold have been money in all countries.
A short time since, some of the great
powers stopped the coinage of silver
and repealed all laws making silver
coin Il legal tender, thus demonctizing
it. In 1873 the United States, follow
ing the example of England and Ger
many, stopped the coinage of silver,
thus destroying it as money. 1t is
interesting to inquire why this was
done, but before doing so a few facts
in the history of silver coinage should
be given.
The government of the United States
under the constitution was organized
March 4, 1889. Most of the metal
money then in circulation was the
coinage of foreign nations, but little
gold or silver having been coined by
the government. In 1892 congress
passed a law providing for coinage oi
silver and gold. 1t fixed the amount
of silver to be contained in II dollar and
the amount of gold to be equivalent to
II silver dollar. 1t provided that the
silver dollar should contain 4l2 !.
grains nine-tenths fine and that 26.S
grains of gold should be equal to the
silver dollar. The weight of the silver
dollar has never been changed, but
long after by the influence of the fIiends
of gold congress reduced the amount ot
gold IN Il dollar, to 25.5 grains.
The silver dollar has always beer
the unit of value. All estimates o
value, all business transactions and the
commerce of this country are counted
in dollars. Ii horse is bought, hi
value is estimated in dollars. IF land
a steamboat or railroad is bought, it,
value is counted in dollars. The busi
ness of the government is based upon
dollars. In word, all and ever,
business transaction is conducted OF
the basis of the silver dollar. Fo
many years the silver dollar was the
only metal dollar coined by the GOV
ernment. At one time, for n shor
period, gold dollars were coined bu
they were two small and their coinage
was discontinued and the silver dolla
is now the only dollar coined.
IL will thus be seen that the charg,
that the silver dollar is II deprcciate,
dollar or an 80 cent dollar Is utterl,
groundless. IL is the only metal dol
lar known now in the United States
1t will buy any thing that any dolla
will buy. 1t will pay any debt tha
any dollar will pay. 1t is by law,
legal tender for all Indebtedness. |
will pay debt of 800, or 100000
or 81 200, 900. Jay Gould could tende
u, ,OOO, 900 of silver dollars in paymcn
for n railroad purchased for thai
amount and the seller would have t.
accept it, Then why is it II deprcciat
ed dollar? The charge is utterly ground
less and is intended only by those wh'
make it to create prejudice against ii
There was free coinage of silver i
the United States until 1873, whel
congress by enactment closed the mint
and stopped its coinage. Why thi
was u part of the systematic legislatio
in favor of one class, and that II sma
portion of the people, and against til
: interest of all others, which has oh
tanned since 1861 when war swept owe
the country. Up to that time, 1851
5 bonds of the government which ha
; been issued to- meet the war expenses
: were payable in lawful money of tn
United States. Gold, silver and tn
legal tender, greenbacks, were all law
. full money. The holders of the bond.
, did not want them paid in greenback
5 or silver and congress yielded to the
| demands. The law then passed IT
quiring the bonds to be paid in coil
The coinage of silver was stopped an
4 the bonds must then necessarily be pal
= i'm gold. 1t is estimated that by TIL
l law, the bonds then outstanding wel
4 enhanced in value 5000, ,000, 200 an
= the government Indebtedness increase
e that much. 1t was law by which III
circulating medium was greatly redu'
= ed, the value of gold enhanced. til
= wealth of those who possessed it il
e creased and the property of all Other
| decreased in value. II was law tn:
| llldCt lnc IlCIi iidi "ttithN 'ui w
= pressed all others.
; II is charged that if free coinage
! adopted that all the silver of the worl
= will flow to this country and he coinc
= into American dollars. Should this l
: the ease il would soon make the pc,
pie of the United States the wcalthie,
e in the world and all classes would rea
a the benefits of a full supply of mctal
l money. The writer certainly woul
. not object if Il much larger portion {
the silver of the world was hrougl
! here and coined into the good old do
h lar of our daddies, such as Washing
ing, jefferson, Madison, Adams, lIal
' cock and others who acted with then
f when they first provided for comm
= the silver dollar. 1t was good enoug
for them and it is good enough fr
$ those who live now.
But is it true that the silver of I'll
e world would be dumped into this c"ui
= try? Such is the charge. A fair inquir
I will give us the light of truth on th
Y point. 1t will not be denied that Silvo
$ will flow To the countries where ii
{ most valuable. This rule is true {
h every article of trade and commerC
a and is SO with silver. IL is II fact
: proven by statistics that silver wi
: leave the countries where the ratio
l silver To gold is the highest and wi
Il flow to those where the ratio is ii
a lowest Now 1T us see what is I'll
[ ratio in different countries. give III
o low the ratio OF eleven different com
| ;n- 4 l. tnl-nn frnn On ni1ininl ~