Weekly expositor. (Brockway Centre, Mich.) 1882-1894, 1891-01-09
The Weekly ExpOSitO!,
ABOUT SILVER.

lies beyond and above party consider
alton. The two leading parties can
neither of them agree on n united
policy. 1t evades party consideration
and is now entirely matter of either
sectional or individual opinion; the
latter, however, by no means substanti-
al, for it is most difficult to find man
who even dares to avow thorough
knowledge of the subject. The whole
matter is enveloped in cloud of
mystery. The most sanguine are apt
to gaze up at it in doubt and cry for
more light. The fact is it is critical.
The most plausible scheme may devel-
op my sterious unknown workings for
evil. 1t effects mems pocketbooks.
That is serious matter.
Notwithstanding, let us consider the
matter, for that is at best what all do.
However wild our premises we are
sure to fall within the circle of some
theory at any rate.
The present cramped condition of
the nations finance is probably known
more or less definitely by all. For
many reasons the money of the country
in circulation is far inadequate to meet
the wants of trade Among these
reasons are the retirement of National
bank notes to a large extent and the
peculiar condition of our gold currency,
at a premium above silver Now what
we must have is more money. How to
get it is the question at issue. Advo-
Gates of free-silver say, you have
free coinage of gold, why not of silver
also. since we as nation produce such
a large percentage of the worlds out
put?" This they urge will supply
every need of the nation and moreover.
benefit home industry. BY this
means you will raise the price of silver
since the government would be COM
PEELED to coin all bullion presented to
it at the rate of 4l2t grains to dollar.
This is most pertinent question. 1t
surely solves the question of increasing
the circulation, whether rightly or
wrongly, and that is the phase of the
proposition which Is of most import
ance. In justice to the poorer class of
citizens we must have more money in
it other benefits to producers of more
or less phantasmal sort. But here
again we are met with most fatal Oh
jections. Why discriminate merely in
favor of gold and silver? We have
four metals used in our currency.
Gold and silver are but two of item.
BY this very argument owners of cop
per and nickle mines would be perfect
ly justified in claiming free coinage
of either of these metals. The EVIL of
this policy must be evident to all. Our
currency would be arbitrary and bun
glesome, and would not be steady. 1t
might become all copper, or all nickle
or all silver or gold as the vicissitudes
of supply and demand would raise or
lower one or another in commercial
value. For spectators would have it
in their power to play with their varied
and antagonistic values.
Thus it seems evident that our circu-
lation can not be based upon two or
four metals. The very arguments
which would favor free coinage
of silver lead to a free coinage of all
four metals. This we firmly believe
would produce tickle condition of the
currency which would prove dangerous
to our national business. Therefore
the argument that favors free silver
coinage must be false. We must have
our currency based upon one metal.
But why should this basis be gold
one, some one will ask; let it be silver.
Gold is so scarce that it can not be of
practical worth III increasing our cur
rency they urge; but the contrary is ex-
actly true of silver. It's free coinage
would be sure to increase the circulat-
ing medium. True: but the reason is
equally potent why gold is and can be
the only substantial basis for a curren-
cy. In brief it Is this. It's very search
ty gives it constant and unchanging
value. Just % $40 grains of it repre- sent
a dollars worth Of work or corn or what
ever it is, and always has. Moreover,
it has been learned by experience that
supply and demand have no appreci-
able effect upon its value. The reverse
is most fatally true of silver as you
may learn by consulting any journal
Therefore if we have firmly establish
ed currency it must be on gold basis
as it is now. This reasoning about an
arbitrarily fixed value for silver: that
4l2l grains of silver are worth dollar
just because a government has stamped
the word upon it, is but the old green
back doctrine repeated with variations.
A dollar is a dollar. in the first place
because usage established its value, and
it does not vary, nor can it be made. a
cents worth of paper and printers ink
OF S71 cents worth of silver can not be