The midland journal. (Rising Sun, Md.) 1885-1947, 1891-02-27
Free Coinage Of Silver.

jesse Oeitgman sets I0fCn IN tint
North American Review for Februar,
what be estesms the dangers Of fire.,
coinage. The article is very cleverly
summarized by the editor of The Stan
dard which we reproduce from tha
paper and point out Seligman's as
sumptions and unsupported bare asser-
lions. This Seligman, is one of the
Rothschild crowd Of gold bankers that
are devouring the producing classes Of
all Europe. Rothschild swindled the
English people, through the govern
ment out Of IS 600, 900 in 1915 with
which be founded the Bank Of England.
The same crowd fomented the war b..
tween France and Germany, by q
hypocritical priest working on the relig-
ious superstition and ambition Of the
Empress Eugenia. and gobbled five hun.
dred millions Of the war indemnity paid
BY France to Germany. 1t is one of this
class Of gold bankers that undertakes
to teach Americans how their financial
affairs should be conducted, and to in.
form them that the free coinage of
silver would bring bankruptcy upon
the country. The common sense OF
men Of average intelligence. without
recourse to argument, should be suf-
ficient to reject such an absurd propo-
sition. But to resume, Seligman says:
eThe first essentials of production
and commerce are certainty and stabil-
ity. Free silver coinage he thinks
would destroy BOTH" How it would
destroy them he does not say. Under
the gold money system, nothing could
De less stable as the panic of Septem-
Der last proved. Certainty is best
maintained by monetary standard in
conformity With the civilized world"
That is the standard now existing
in Europe and the u S. The recent
crashes in business disproye this
assumption.
''Our surplus agricultural products
are all exported to countries having a
gold standard and paid for in that
standard. If we have silver standard
our farmers are paid in silver, while
prices for staples follow not only agri-
cultural products abroad, but the price
OF silver as we'll. The result is wider
variations of price, together with an
increase Of the speculation deemed SO
injurious to producers. Prudent buy
ers IN an uncertain market invest upon
wide margin, and this means lower
prices to the producer
These phrases are an ingenious ar
rapgement Of words pretty nearly void
of meaning. prices to the producer'
have been lower during this reign Of
gold single standard money which has
obtained since 1873 than ever before.
in comparison with taxes, interest, fees
and salaries, which is clean cut re-
futon Of what little meaning the above
assertions contain.
"A standard different from the rest
Of the world (meaning European nations
whose finance is governed BY the Roths.
child god bankers would affect the vast
mass of imports and exports and be an
obstacle to trade" This assertion is
disproved by the TACT that when we had
only paper money in circulation the
imports and exports were not affected
in the least, but commerce went on as
ever.
free coinage means silver stand
ard. 1t is proposed that the govern
ment shall pay 81 for every 81 cents
worth Of silver presented at the mints.'
This is what the government does at
present and has been doing since 1878.
paying 81 cents and less for 81. Free
coinage means the government shall
pay nothing, but coin all the silver
brought to the mint, and allow the
owner to do what he pleases with it,
which was always done till the gold
ring. demonetized silver in 1878.
"All the silver bullion in the country
will flow to the minis. so will silver
bullion from abroad SO will the prod
uts of the mines. The increase in the
circulating medium will initiate prices
and check expectation while it encour-
ages importation. But the only way to
pay for imports is by exports. If the
expectation Of ordinary commodities
fails we must take gold to right the
balance of trade and the result will be
drain Of gold, premium on the
metal and wild scramble to get it.
The government vaults ars drained OF
gold and the silver standard is upon