Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1892-02-04


hands. But free coinage would have in
volved far greater loss as silver since 1873
has been purchased for 81, 952, 800 less
than its coming value otherwise with free
coinage the total loss 10 the government
would have been sos, Ole, OBS, and this
round sum might have been added to the
profits of the silver corporations.
No expedients have been untried, and no
cost withheld, to push or carry silver dol
lars into circulation but it has been demon
strated that no more than about sixty mil
lion dollars OF over four hundred million
coined can be coaXed or kicked outside the
treasury. Even had it been possible to ap-
ply hydrostatic pressure, no greater sum
could have been forced into the congested
channels of circulation or into the reluctant
pockets of the people. The weight is obiec-
tod to as too heavy and the value too light
We hold in the treasury to-day In SILVER
dollars and silver bullion over twelve thous-
and tons which even burglars have almost
ceased to covet, and only express companies
appreciate its value when they lug it across
the continent, bat which the government is
required to hold and guard night and day.
together with all forthcoming monthly ad-
ditious When and whore is this silver de-
LUCE to end In ten years more, under ex-
isting statutes, the government may have
locked I'D in its subterr anean vaults silver
to the aggregate emaunt of, PERHAPS more
than one thousands million dollars, for oil
OF which its Obligations payable i'll coin, will
be outstanding. IS this like the river of the
poet. to run on foroyerS And shall this in
undation be further aggravated by unlimi-
ted free coinagel
No silver certificates, or treasury notes
issued for silver bullion, have been presen-
ted for payment in silver, but they are paid
in gold when so demanded.
How long they can De thus kept on par
! ity with gold is already matter of public
and profound concern, and largely depen-
dent upon an honest nad proper interpreted
ton of the law and the courage and skill OF
the secretary Of the treasury When ever
the gold in the treasury snail vonish, and
it may vanish under a cloud Of silver as
well as under q cloud Of adverse exchanges,
these certificates and notes can then be paid
only in standard silver dollars, and these, as
money. are known 10 be not worth their
face value. As security for silver oertiil-
Gates or treasury notes, which are to circu-
lats at par with goid, they are VIGOROUSLY
inadequate, as 49, grains of silver, niuo-
| tenths fine, will letcl no more than "A cents.
| 1t would be- hardly less safe, and certainly
| equally honest to base such certificates aud
notes ana circulate them good money,
upon iron or copper, or upon wheat or tobnc-
co, purchased and accumulated in like man
ner, at 3d. per cent above the market value,
as TO base such circulation upon the social
ed standard silver dollars under free coin
age.
Whatever advantage from unlimited free
coinage Of silver may accrue 10 corporate
owners of silver mlnes, when gold advances
| to Il premium, viii be brief and not pernGn-
elt, as then secretary OF The treasury
would bs willing to sell nited States bonds
in order to Obtain gold to keep any paper
currency paid ont for silver on a parity
with gold. These corporations there ore,
at no remote period would have their ow1
| drug return 10 plague the inventors, and
find silver certificates or treasury notes re-
colved fer silver bullion, when unsupported
| Nv gold, Of no greater value tnan tHat of the
silver contained IN the free coined silver dol
| lar. they will not be able then by any
shift TO fare much better than other CLASSES
of our people 1t viii not mitigate the suf-
| ferip.ss OF Innocent people, however, that
| the corporate owners OF silver mines will
| sooner have TO coma to grief from thor own
prescription than would have been possible
| from any other source.
OF cJur 80 some OF our excellent argent
| ferrous lTlendS sinccTeiy imagine 1LdI they
can secure forever by free coinage all tie
difference there may be between the req! OF
commercial value of 37I4 grains OF pure sill
yer and the legal tender Cr pu- value Of the
silver dollar no" amounting to ojh pel
cent, no matter how wide thai dItierouc,
may be; bat they would be more likely tc
find ,ho.r last days wOrse than he first, II.
SILVER aol.Grs, when no longer upAo.d and
supported by gold, eS tney long nave been
cou'd not lal 10 SINK 10 abous tGe level OF
TOR commercial vaiuo Us silver bullion
l,eal money must stand tbs ;est OF the
world melting pot. the M-Xi,An dollar
with more OF silver than our own, - here
worth only lts weight Us bullion. The coming
OF shFer "lH aad nothing 10 its real v0ue
"hu' "Ao any oIher community produced II
excess OK the demand, ITS value must D'
largely regulated ana determined b. the
average cost OF lto predu lion. The bound
!esS prohts OF tho corporate mine owncT'
mIehJ not tben be 30 conspicuous, but ever
theh lat dlVloehd' would not become wholly
e@tinct' a. tue rlon mines, bearing no broth'
or near Iuolf throne, might XIII of the lean
ana d!ihlhisn competition.
The experiment which is now being mad,
TO nave our government purchase, OH com