Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1892-01-13

The Democrats Getting Things Mixed
Republican Vote Since 1880 Blaine and
Harrison-The Tin-plate Industry-A
Card to Silver Men.
The Man Who Wants Cranberry Money.
Recently a gentleman living in New
Jersey wrote to the Hon. Roswell @.
Horn, in which he asked these ques-
tons:
1t has just occurred TO me, if it is right
for the government to purchase large
part of the surplus silver, 90 to the eX
penSe of storing it, hire men to count and
watch it, and pay the expense of coming it,
or the issue of silver certificates to clrcu-
late in its stead: all because it represents
so much labor and capital (and, | suppose,
also to keep those silver capitalists out of
the poorhouse), if that is right, why would
it not be right for the government to pur-
chase the surplus of farm produce, which
represents uSt aS much capital and a little
more hard labor, and then 90 through the
same proceeding, issue grain certificates,
Or make the grain up into pancakes, and
issue pancake certificates, ii you please?
Now, it would help me out considerably
this year if the government would Duy up
the surplus of cranberrles, the healthiest
of fruits, and go through the same process.
[ know you will say the last would not be
right. Then why the first?
To these questions Mr.. Horn answers
as follows:
First, the government does not coin
money, either gold or silver, especially to
aid the men who mine these metals, but to
aid all the people of the country. AS the
law now stands (and as it ought to re-
maln) the government pays Tor silver only
the market price, Just what these capital
lists Who mine the metal could Get for it IN
the markets of the world. Coinage with
it's attendant process of assay is simply the
establishing the purity of the metal and
guaranteeing the amount in each piece.
No more, no less. The whole business of
coming money, and Of using gold and sill
yer bullion as basis for certificates to be
used as money, is done for the entire peO-
pie, and the expense is properly paid out Of
the public funds.
This whole matter turns upon the fact
that silver and gold have been adopted as
the money substances Of the world. They
are everywhere used as The medium OF eN-
change. We have come to express our
ideas of value by naming a certain com.
which contains a fixed amount of one OF
these metals. Not SO with grain. Not so
with cranDerrleS. Suppose certificates
were issued with cranberrieS as basis OF
value. A certificate is promise to pay,
on demand, a certain quantity of that
against which il has been issued. The
cranberrieS would in few months have
decayed. If the certificates were not re-
deemed Tin cranberrIeSl almost lmmedI-
ately after their issue. the basis Of their
value would have entirely disappeared,
and the certificates would be worth mere
ly the paper on which they were printed,
and no more. There would be nothing
left with which to redeem them.
If the act for the free coinage of silver
had been passed and had become law.
then the government would have been
compelled to take all the silver brought to
its mIntS at fixed price The price named
was far above what that metal now brings
IN the markets of the world. Such law
would have been in the interest of the min
erS and owners Of silver, and clearly
against the interest OF the people.
1t would be fair question TO ask why
should the government buy and pay an
extra price for silver? 1t does not do SO
for gold, or any other article. Ii for sill
yer, why not for grain and cranberrieS
Sure enOugh But that question does not
arise, because at present the government
does not take either gold or silver and pay
for them more than their market value in
the money centerS of the world. 1t does
not take gold and silver at all except for
the purpose of utilizing them as money.
In dong that its work is for the benefit of
the entire people who use money and in
no sense for the benefit OF any particular
class.
The government never buys gold OF sill
yer for the purpose OF making jeWelry or
tableware, or any other of the purposes of
consumption. Ii never buys them for any
purpose except to convert them In some
way into circulating medium. into mon
ely. SO long as they are not, they do not
come within the rules which govern the
precious metals. This whole question
hinges on the fact that silver and gold are
used as money; and it is a proper function
OF government to do all liz its power to
keep the money used by the people honest,
pure, and of equal value, dollar for dollar.
Il. G. HORR.