The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1891-03-19
The Free Coinage Of Silver.


Our State line correspondent asks
about free coinage of silver this week
and seems to question its benefit to
farmers. For his information and
that Of others who may like him not
fully understand the question in all
its phases and bearings we submit
the following statement of facts from
q well informed source and clearly
stated. He said:
There is no question before the
people at large Of more vital interest
70 the business prosperity Of the
whole people, more especially OF all
western people, OF all political parties
than the free coinage of silver, in
volving bi.metalisln as measure of
values, and providing a sufficient
volume OF money to transact the in
dustrial business Of the country.
Free coinage exists when any
owner Of bullion has the right to
have it coined on the same terms as
the government or as any other citi.
zen by simply paying the govern
ment cost of coinage. Gratuitous
coinage is when the government
coins it for no charge at all. The
cost Of coinage is one cent per dollar,
and when the government allows any
owner Of bullion to get it made into
coins, dollars, half dollars, and small
er coins, by paying cost of coinage at
mint, this is free coinage. The use
Of money consists in it serving as q
measure Of value. 1t il medium Of
exchange.
Continuing he said:
The 1 points Of political economy
are: Production, exchange, distribu
ton and consumption. Producers, ex
changers, distributors and consumers
make up the business world. 1t is
for exchanges that we want more
gold, more silver and more paper
money. Money simply represents
values, and there is no more than
one-tenth enough in the whole coun.
try to represent our property.
There would not be enough If all the
gold and silver bullion were coined.
But while free coinage would not add
one dollar to our wealth as nation,
It would re-establish our markets by
converting many hundred tons of sill
yer bullion into coins: that is, coinage
IL establishing silver into pieces,
weighed and essayed, ready for pur-
poses Of exchange, ready for pur-
chases and payments, ready to make
lively markets and cash business. 1t
would prevent the necessity Of pay
ing exorbitant interest, and enable
other people besides bankers and
money lenders to do q paying bust.
If 81 vV(Np II
not only burst the corners Of do
nothing extortioners and plutocrats,
but it would emancipate honest bust
ness industries, farmers and laborers,
and boom the labor markets.
This is not party question, for all
parties In Iowa and in all the western
and Pacific states openly declare III
favor Of it in their platforms of 1890.
il il an economic question in which
the people Of the west may differ
from the spectators OF Wall street,
the people who work differ from
those who do nothing, the slaborers
Of the United States differ from the
plutocFats. Let Us have honest
money for honest industrious men,
even though the do-nothing robbers
grumble. Let us have what will
enable the industry of tho country
to thrive, bullion converted into coins
for payment of producers and labor
ers Of all olesses and thus give the
do-aothing p.utocrats chance to
engage in business for living in
stead Of faring sunptously every day
and sleeping on nothing but exorbi,
tant interest money.
The most acceptable service that
can be rendered the people Of the un-
tied states is that which will convert
to two million hungry, half clad poo
pie of the country into paying prof.
table consumers of the product Of its
farms, factories and work shops.
A scarcity Of money has made this
large class Of idiefs, non consumers
to q large extent. An increase in the
money circulation will enable them
to obtain profitable employment and
to heaam profitable consumers OF
what they produce. it will also in
crease the price of what the farmers
have to sell and will therefore be OF
direct benefit to their vocation.