Daily tobacco leaf-chronicle. (Clarksville, Tenn.) 1890-1895, 1892-05-06
VOICES HERE AND THERE
How the Products of Labor are
Cheapened by Dear Money.
The Views of a af-Chronicle Subscrib-
er Regarding the Decentralization
of Silver-One Side of the
Question.


1t seems that many who write fol-
the press write purposely to confuse
the public mind. Hence the com
mon question: "What about this
free coinage silver question, any.
how? The more / read about it in
the different papers the more il
bothers me-" We think we can
mai it plain ; at least we will try.
The dollar Of the United States is
4124 grains of silver, or rs $40 OF
gold; every other dollar-the paper
dollar--is merely promise to pay
4123 grains of silver or % $40 grains
OF gold. This number of grains OF
silver or gold is dollar wherever il
is found, whether in the mine, in
the tablespoon or in the finger ring.
But this number Of grains, though
pronounced to be a dollar by the
government, is not legalLender
dollar until put into coin by the
government and has the govern
ment certificate stamped omit that it
is of the requisite weight and fineness
After this no man shall refuse to take
it for dollar.
From the foundation Of the gov
eminent up to 1873 every man was
free to carry his gold or silver to the
mint and have it coined into dollars
at mere nominal cost This il free
coinage. But in 1878 silver was de.
monetiz d and came TO be no more
money than iron, lead, cotton or to-.
bacc0-a commercial product like
them Now for the consequence of
this. The silver being about half o.
the metal or real money of the coun-
try and being demOnetized left the
remaining or gold half to supply the
business needs Of the whole country.
Here is contraction of the currency
aud on grand scale. Hence real
money becomes relatively scarce and
high. But on the other side the pro-
ducts of labor become cheaper be.
cause it takes more of them to meet
the increased price of money (gold).
Consequently, at the same price per
pound, it now takes three hogsheads
of tobacco to pay the same indebted,
ness that two would formerly have
done. For example, the bondholder
has the right TO exact gold in pay.
mcnt of bonds, and he never fails to
exact it. Let the debtor make pay.
ment, say in silver, he finds that APP
grains of silver are no longer equal to
% $40 grains of gold or 100 cents, but
only have commercial value of 70
cents Gin gold). Therefore, for every
800 in the bond he must pay $l42 Of
silver. Or if he buy gold he must
buy ii at that rate. Thus we see at
once how rapidly the rich become
richer and the poor poorer. If silver
were back again to the place it oc-
cupied in this country for nearly one
hundred years, a hundred dollars in
silver money-the peoples money
would pay hundred dollars in gold
the bondholders' money. Hence
the cry for free silver.
The decentralization Of silver has
been a whitening curse to this coun'
try. The Democratic party has de
nounced it as such for about twenty
years. The Democrats have come
into power in the lower House Of
Congress. The Democratic majority
there is overwhelming-llS, Be
sides this they have fifteen Repubi,
cans TO help them on free silver. A
bill was introduced to undo The in
iqutous work of 1S73--it fell dead.
J. I. RICHARDSON.