New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-02-23
EFFECTS or FREE COINAGE.

The advocates OF lGPc CDlHdSc VI SHNNi arc VI
three kinds. Some sincerely believe that this
measure would not result in break between
silver and gold and the establishment OF tho
silver standard. They really wish to MAINTAIN
the currency Of the country on n par with the
best money Of other nations, and do not mean
f. RIM any risk about it. With these argument
IS pcS>iblc. 4 second class desires the silver
standard, argues that multitudes have been
greatly wronged because gold was given In
creased purchasing power BY disuse OF silver
homes TO get oven with the gold mOn0polS;s
and more or less consciously seeks cheaper money
and the scaling of debts. y third class Is either
too ignorant or too thoughtleSs TO have any
definite idea about the matter. With these two
classes argument is wasted Mr. Bland repre-
SCENTS the second, and most of the Alliance or
Peoples party agitatoIs belong with It,
70 the honest bimetalliSt part OF Mr.. Bland
rcpJrt is addrc scd. il argues that silver would
not come hithcr from foreign countries and that
the boarding or expectation Of gold would not
90 far enough to do any harm; il 10 should con-
tract the circulation fox a time, that would put
down prices 80 that gold you'd flow back into
use or into the country. The object Is to lead
some to believe that gold and silver would con-
time 70 circulate on parity Is they DO nos"
Yet in other pats of the same report Mr. Bland
repeats with great carncStnc>S the clam that me
distl>c of silver has given gold buying power
throughout the world which it IS sheer robbery
TO maintain, and shows plainly that at bottom
he wants to plumber the creditor class BY giving
money only the buying power OF silver
The enactment Of FREQ coinage would warn
g, uutph Mr. Hand
dimly secs Bu: some people must have gold
for foreign settlements When they 90 10 hold
ers for it, a premium will be cXaccd because
holders wan, 10 keep their gold, and viii be
piid because the gold must be obtained II is
difficult to believe that single day would pass
after a FREQ Coinage bill had gone into effect
without the establishment of some premium on
gold Moreover, any holder of million ounces
Of silver bullion in Europe could sell 1t here Ill
New-YorlS for future delivery, take his pay IN
banlahlo funds, draw the legal tenders, take
them 10 the Treasury and demand gold for them
The Treasury could not pay without having all
lis gold drawn ont quickly by those who would
want gold. II could not refuse without instant
" establishing a high premium on gold. Mr.
Bland dccciycS people if he means that the
Treasury could distinguish foreign from Amerl-
can silver when presented. He deccives himself
if no imasincs that the foreign silver would be
prc .cn-cd before the gold for it had been drawn
from tho Treasury.
Gold would 90 out Of circulation, and would
he deliverable only on god contracts or on the
PAYMENT Of premiums But would prices de-
cline? On the contrary the certainty OF a vast
uapcr imitation would prompt speculation Tor an
advance in every direction. Prices are now
made in paper rcdcomable in gold, and this
NADER. if made redccmable in silver, would shrink
in purchasing power The sugar for which
81 900 gold had been paid at Havana could not
be sold here without loss for $1,000 in such
rayor: enough must be charged TO buy the
1000 in gold in order to get moro sugar. 20
Of other commodities when the paper dollar
shrinks the nominal price in such dollars must
rise Mr. Bland would start on the road which
leads 70 the Confederate cXpercnce-SoO fer a
dinner and $500 for pair cI boots.
The people of the United states do not want
that experience They have seen enough Of
dcprcciated money, nor will sober and sensible
men among them run the risS Of having bad
money thrust upon them, because this or that
person feels sure that the experience of the whole
civilized world will not be repeated in the United
States. II will take something moie than the
confident assertions of Mr.. Bland TO convince
people that paper no longer rodeemable in gold
will be worth. as much or buy AZ much a. il docs
now Apartcularly since Mr.. Bland himself else
where avows the feeling that it ought not to
buy as much.