The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1892-08-30
THE v QUESTION.

Mr.. EDITOR:-Free coinage of sill
yer as now contended for may be de-
fined to be the right of any holder
of silver bullion to have it coined
into silver dollars such as we
now have in circulation. The value
of the silver bullion contained in
a silver dollar is said to be worth only
a little over two thirds of the value of
the gold bullion contained in a gold
dollar. In respect to wheat and corn
and especially cotton and agricultural
land, the value of silver has increased
and the bullion in a silver dollar will
buy more of what the farmer has to
sell than it would before silver vas de-
monetized. Instead of putting more
silver in a silver dollar therefore, it is
my opinion that if any change Is made
at all it ought to be to take some OF 1t
out. While the production of silver In
the United States has greatly increased
since the discovery of the silver mines
in Nevada, still there is nothing like
enough of it to do the business Of the
country, especially as u business and
population has increased in far greater
ratio than the production Of silver In
the world. But you say silver has fall
len in value in respect to gold; 1T Is
SOLL10 Ull1l Wy JULIUS OC4O" SOANs A Wv
ter way to state it is that gold has risen
nearly thirty cents in the dollar above
silver and more than thirty cents above
what it formerly was. The production
of gold has fallen off, in this country
especially, so that it is not half what it
was some years ago, while the p, Oduc
ton of silver has nor than doubled
since 1873. The difference between the
values of gold and silver was made far
greater by the characterization Of the
latter and by making the interest on
the national debtpayableln gold alone.
You confess then that there Is con-
siderable difference between the market
bullion value of the gold in a gold dol
lar and the silver in a silver dollar"
Yes, but as silver has not fallen but
has at least held it's Owl in respect to
the products it must measure or pur-
chase, why is there a proposition to
add 80 cents of it to the silver dOllar9
Why don't some of the hurgerers and
thirsters after reimbursement of values
of gold and silver demand that thirty
cents be taken out of the gold dollar?
Did you ever hear one of these mourn
ers over the inequality of gold and
silver propose to take a little gold out
of his gold dollar9 Show him that the
population Of the country has doubled
and that the business of the country
more than doubled and that the pro
ductiOn of gold in this country is not
half what it was and that the interest
of the public debt being paid In gold
has abnormally raised the the demand
for it and greatly enhanced its market
value; he will still shudder at the very
thought of any equalization that takes
any gold u of his dollar. He wants
to reap all the advantages from the
rise of gold. If half the gold in the
world were suddenly destroyed so that
its value we're doubled again he would
still say the gold dollar Of present
weight and fineness was the only true
standard of value even, though it
doubled the property of every creditor
and diminished by One-halfth the property
of every debtor. So you see now where
this fight is: it is between the creditor
and the debtor. The creditor wants to
take advantage of the 80 per cent. rise
in gold to have his debts paid in it;
and the debtor don't want to pay more
than he promised.
There are several hundred million
dollars of silver money in circulation
and the same is legal tender in pay
ment of debts. If you add 80 cents to
the value of each of these dollars you
dollar more than they promised to pay
and you make the creditor 80 cents in
the dollar richer than he is. This is
what the creditor wants. This is what
the debtor don't want.
W. J. PEELE.
Bro. j. D. Yates, President Of