The great West. [volume] (St. Paul, Minn.) 1889-18??, 1892-11-18

much silver gives encouragement and
protection to- the producers of th at ar
tlcle; and, second, that it creates a
currency for public use, made legal
tender for the payment Of debts and
good for domestic trade and home use
But are these good reasons? Why
should the government thus create an
extraordinary demand for one particu-
lar product Of industry, and give to
that product an advantage over every
other Of equal merit and importance?''
It Mr. Coe was one Of the large and
rapidly growing class who believe that
money should be promise to receive for
all debts. public and private, rather than
q promise to pay-gold or any other
"one particular product Of industry, =
why, then, we could appreciate the in
SEPARATION that prompted the above Ian
guage. But when it is remembered
that Mr.. Coe is what we unsophisti-
Gated westerners call gold bug'' or
''goldite, " who wants to see the money
OF the nation restricted to gold basis,
what disingenuous ingenuity is here
displayed in this, his effort to utilize q
righteous sentiment of condemnation
to bolster up the very evil condemned?
Why is Mr.. Coe and his ilk unwilling
to even partially accord to silver the
advantage" given to gold over every
other (produot) of equal merit and i'm.
portance? Why demand for gold the
artificial market price which is the re-
suit Of its free coinage privileges and
yet complain because of the slightly in
creased value given to silver BY the
law Of 1890? know, Of course, what
Mr.. Cole will answer. He will saw
that gold has an intrinsic (?) or
commercial value equal to its money
or coinage value. To this an
swer that such commercial value is
the result and not the cause of its
money value. / further answer that
had gold been treated by the nations
of the world as silver has been treated
for the past eighteen years. it's COM
mercial value would be but a moiety
of its present price. I also assert that
if silver were accorded. as is gold, the
privilege of free coinage, every
ounce of silver produced would be
worth or command its coinage value.
The rule-nay, law governing the
case is this: If the total product of any
metal, be it gold, silver, brass or cop
per, is used IN the arts and coined into
money free coinage being accord ed
to all not needed in the arts) the total
product will take to itself the money
or coinage value given to it BY the fat
law. The proof Of the rule and the
reason for its. being is found il the
answer to this question Would there
be found any person 50 foolish as to ac-
cept less than a dollar for such an
amount of metal as by taking to the
mint would be freely coined into a
dollar coin? Echo answer: Would
there?
But it is not the enhanced price of
silver the goldites fear. Oh, no. Free
coinage of silver would not, as thew
contend, drive gold out of the country
on account of silver being the cheaper
money. No, indeed! Free coinage of
silver would cheaper gold money by
lessening its purchasing power Every
addition made to the circulating
medium, or legal tender money of a
nation, lessons the money value or pur-
chasing power of each and every unit
of account composing the volume of
such money. This fact is the cause of
Mr.. Goes solicitude. The masses of
the people care nothing about the in
trinsic (sic) or commercial value Of the
material upon which money is stamped
or coined, so that each dollar or unit
Of account is full legal tender and pos
sesses all the legal attributes belong
ing to money. The treasury notes Of
1890 are. as Mr.. Coe says, full legal
tender money (''except where other-
wise expressly stipulated'') and the
monthly issue Of more than "a, 900, 900
has a tendency to raise the price of
labor and its products and restore to
land a portion of the value stolen from
it by the crime of 1873.
Mr.. Coe says, in conclusion: ssThere
is evidently marked change in public
sentiment upon this important subject
which has SO far progressed that
neither of the great political parties
will venture to avow itself distinctly
in favor Of the act in question, or to as
sumo it as q party measure for the
future. Is it not therefore, safe as
policy and timely in principle now
promptly to meet the issue, while SO
many favorable conditions exist, by re-
pealing the law; and after that, to con-
slider how the great mass Of silver al
ready purchased can be disposed Of
with the least injury to all interests in.
volved in it?'
If there has been marked change
in public sentiment" such change has
been favorable to silver as a money
metal It is not that people hate the
present law less, but rather that they
love free coinage better. The two
great political parties" like Byron,
sswould be happy with either, were
t'other dear charmer away" They
know that the masses Of the voters de-
mand free coinagae and they are
aware that Wall street will endeavor
to defeat any party that declares for
that measure. With firm and abiding
faith in the powerful efficacy OF cor
rupt methods in politics, they are
afraid to trust the common people,
and fight for principle rather than
spoils
The people are ready Tor tho esueJ
lwhich can neyef ~ s1i1pouod u ex6eptl
~ ranetng eold and eflvor upon stekr1
" equel pEil - bslorie ~
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