Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1892-02-18

letter. Moreover, we differ mainly as
to facts, and, when that is the case, no
conclusion can ever be reached by ar
gumentation.
For instance, you assert that 1.-THE
Sherman act does not put an additional
dollar of silver or its representative
into circulation
This is an amazing and astonishing
assertion!! l regret that you should
so inform the people. Surely you are
beyond hope. l showed in letter
some time ago by questions from the
Act of Congress that the Government
was now buying practically all the sill
yer produced in our country, viz !:
81, 500,O00 per month at it's market
value, and paying for it, not in any
money in existence, but in new legal
tender notes, printed by the Govern
ment for that purpose! Is this not put
ting ''an additional dollar, of silver or
its representative into circulation?
Surely every school boy can see that it
adds $50, 100000 to 500, 900, 900 year
to our circulation.
Further on in your editorial you are
obliged to admit that, 1T puts the Gov
ernment's promise to pay money into
circulation, having legal tender at
tachment. Very well. That is the
sort of money we all use every day, the
very kind we all want instead of, as
you say, 1.-THE more cumbersome silver
dollar" Now, how would it be if your
scheme of Free Unlimited Coinage ex-
listed? How would it differ? Why, the
few mine owners and millionaires who
produce and own the silver would cart
it to the minis, have it coined free of
charge, thereby having it increased Is
to 25 per cent. in value, then dump
their coin into the =. S. sub-treasuries
and get their silver certificates and put
them in circulation! In either case
the circulation is increased substantial
ly the same, and the real substantial
practical difference is that in the case
of Free Coinage the Government coins
it without charge to the mine owner
and gives him the Is to 25 per cent
profit, while in the other the Govern
ment buys the silver at its market value
and pays for it in bills printed for that
purpose, and holds the silver ready to
be coined when needed to redeem these
legal tender notes or bills.
You admit that there are $50, 100000
silver dollars in coin now lying in the
of the U. S., which can
not be got in circulation and are rep
resented by paper certificates now in
Why coin more until
some use can be found for those already
in existence? 1t seems to me to be
wiser to hold the silver ready to be |
coined when needed.
You say these certificates are re-
deemable in gold" / say they are
in 'scoin," that is in gold |
Or silver, one or the other, as maybe |
to the Government. The |
law itself provides that the silver SO
purchased shall be coined as needed to
redeem the notes or bills so issued.
You say, '.Are we not now practical
" at gold basis? It is this gold basis
hat the people are determined to get
away from" The people are determ-
ned to do nothing of the kind. The
people will always insist upon having
money that is good. The poor man
will never consent to have dollar that
s not equal in value to one-twentieth
If the rich mans twenty-dollar gold
piece. Instead of getting away from
he gold standard, he will always in
list that his dollar, whether in silver
n in paper, be equal in value, and
therefore, exchangable for the best in
he world, whether that be gold, silver,
egal tender or other money.
1t was only few years ago that the
Whole strain of our country was to get
Jack on 'sspecie' basis. Every sens
BILE man and woman rejoiced at its ac-
omplishment. And now, in this year
S92, to hear man crying out in favor
f getting away from gold standard,
hat is in favor of a cheaper or poorer
money, is truly amazing. We can only
ave a sound currency so long and sill
er and paper money are all made in
equal in value. When
on get away from gold standard
very other kind of money will be de-
ased, but so long as they are inter-
hangable, all will be of the best and
quail in value. In haste,
j. w. EMERSON.