Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1891-09-10

the difference in value between gold
and silver, and talks prosaica'ly
about the disappearance of gold in the
event of free coinage, without making
it very clear as to what evils would
come upon us were it to happen.
One feature of the question is not
discussed by Mr.. Sherman, and that is
that the supply of gold is growing
less every year, thereby making that
already in the hands of the money
barons of the world more valuable.
1t is not so much the silver dollar
going down as the gold dollar going
up. He alludes to the fact that "mod
ern devices, such as checks, drafts,
ETC., have largely superseded coin in
actual use." This is undou btedly
true. To SO great an extent have
modern devices superseded coin or
cash of any kind that we are now do
ing business on a basis of about eight
per cent. cash, and ninety-two per
cent. credit. A bad thing for the man
in debt, because he has always to pay
the freight.
He says "that no one thinks of put.
ting his money into clock or stock
ing" certainly not. The farmer and
mechanic are usually without either
clock or stocking, fact for which
they are now blessing Mr.. Sherman
and others of his kidney, and at the
coming November election will likely
pronounce the benediction so far as
he is concerned. He says that the
the three hundred and seventy-one
grain silver dollar (the standard dol
lar in use is 4l24 grains) is worth only
II cents" Worth that price in what?
In gold, of course. But what is gold
worth? We are so in the habit of &C
cepting, without thought, whatever
comes to us bearing the dollar stamp
that we are unprepared to look behind
it. The stamp of the government
makes a piece of metal a dollar; bat
what gives gold and silver the neces-
sary value to make them a medium of
exchange is that which gives every
thing else on the earth value, viz: it's
cost-the amount of labor necessary
to produce it.
There is no better settled fact than
that the cost of gold measured in la
Dor as indicated by it's scarcity yearly
becomes greater. If more gold is be-
ing used in the arts and otherwise,
than is mined, the holder of gold is in
the position of farmer who has full
granary when his neighbours crops
have failed; every day he holds it
adds to it's value. The gold standard
men are like the merchant who uses
yard stick of ice, and persists in SELL
ing by it, although it is continually
being shortened by melting, and who
howls "thief!' at every man who pro-
tests against his measure. His GUS
toners naturally prefer. if there is to
be any ..fuctuation in the yard-stick,
the one that Iengthens. All this ar
gument goes to show that silver has
become unfit for money metal, yet
he upholds the purchase of silver bull
lion. If the government is to pur-
chase silver bullion on which to issue
certificates of deposit that are to circu-
late as money, why should it not do
the same by iron, lead, zinc or any
other commodity? This is the SUBJ
treasury plan, that Republicans and
Democrats are so much opposed TO.
1t certainly furnishes the advocates
of that scheme with strong prece-
dent.
Mr.. Sherman claims that free coin
age would make this country the
dumping ground of the worlds silver.
1t was he who claimed that gold
would begin to disappear after the
coinage of silver under the Bland AL
lison act had reached the seventyfive
million mark. The fact is, that those
who wish to limit the money supply
would nave an overplus of gold on
their hands if silver should come to
this country to take the place of our
gold. 1t is not the kind of money
they care about, but the quantity.
With a small amount of money in the
world the plutocracy are able to con-
troll it and thereby prey at will upon
its commerce.
He implores the farmers of Ohio to
come to the aid Of the money barons
as they did in 1875, but farmers have
been learning in the bitter school of
experience since that time, and will
hereafter come to their own rescue.
the rebel yell will not be as potent in
Ohio politics this year as it was six
teen years ago.
In leaving the tariff issue and TAX
ing up the silver question the Repub-
lican party of Ohio will find that it
has merely snapped the devil for
witch. Mr.. Sherman deplores the
ruinous effect of the short dollar, but
has nothing to say about the short
dollars worth. To decrease the
amount your dollar will buy by MAX
ing more of them, a thing that cannot
be demonstrated, is all wrong; but to
decrease the amount your dollar will
buy through protection, a thing that
can be demonstrated, is all rights
the position that Sherman and the Re-