St. Paul daily globe., 1892-03-21
"Free Coinage" Explained and
Discussed by j. L. Mac
Donald.
An Epitome Of Our Legisla-
tion on the Subject OF
Coinage.
The EX-Congressman Exploits
al Length the Fact and
Theories.
What IS Meant by the Varl-
Gus Bills Now Before
Congress.
To the edI,or Of tbe Globe

To the Editor Of the Globe.
A short time ago you published my
views upon the coming presidential
contest In that interview | said:
Nv hat we need now is the remonetlZa-
ton OF Silver-les islation that will re-
store the silver dollar 10 a parity with
gold and repeal the Infamous laws that
(by the basesi Of conspiraciesl debased
the silver dollar To this Cleveland
dixie HarriSon) has been opposed" AS
a result. have received several letters
from different parts OF the state;
some OF which request more full eX-
preston upon this important question.
One of them urges me TO give them
full explanation of the silver question"
and former constituent i'll the 1hlrd
district appeals 10 me TO give him my
reasons for the faith that is i'll me, say
ing: You know that we are plain
farmers. and cannot be expected to be
posted Oh all these questions. Before
you spoke thus l was inclined to oppose
the free coinage of silver, but since you
have spoken many of your former constit-
uentS here want TO hear from you. When
you we're our leader you spoke in no
uncertain sound, and we want you
to do SO again upon this question" :"
That, Mr.. Editor, is the principal reason
for my writing this communication. AS
persons who have been in public lie
are liable to have every utt=rance at
tributed to some political motive, ask
your readers to do me the justice to be-
lieVe that such is not the case with me.
There is no office in the gift of the peo-
pie that | desire or aspire to. am de-
voting my time to the practice Of my
profession, and, thereby. have
an Office that l have not
to "crook the supple hinges of
the laueC" for, and l would not accept a
certificate of election to any Office that
would deprive me of my present one.
Nothing but my respect for my cor
respondents, and the firm conYic-
tion that the present demonetized con-
dtiOn of our silver coin inficts fully as
great an injury upon our farmers and
does, and that the laws which
render this robbery of them pos
sible should be Immediately repealed,
could have induced me to comply with
these requests and go to the trouble and
labor necessary To satisfactorily present
the facts and 1igurs hereinafter pre-
sented. With this preface and explana-
sion l will proceed to comply with the
request Of these friends of mine. and
give the reasons for the faith that is in
me-" and respectfully ask you TO
s'hear me for my cause"
Free GOimagc Defined.
venture the assertion that there is
no subject Notwithstanding SO much
Is now said and written upon it-about
which the majority of our people have
investigated so little. and therefore
know less, than they do regarding what
is now generally termed free coinage"
AS was stated by Mr.. w. p. st. John.
president of the Merchants National
Bank of New York City, (all bankots
are not opposed 10 free coiuage') in
his address before the Bankers Climb of
Chicago on the evening of the 2Sth of
last month:
The meaningless noxIous phrase. free
coinage and the utterly senseleSs Term Tree
silver are the current newspaper designa-
lions Of the in my opinion, altogether wise,
timely and strictly honest propoSal TO re-
store the coinage system OF the United Suites
which was founded with the mint in l712,
which was maintained continuously during
the cighty-one years thereafter. and which
was incOnSiderately and unnouceaDIy over
thrown in 1878.
The proper designation Of what is
now popularity termed "free coinage" is
''equally unrestricted coinage for gold
and silver" The free coinage" pro-
vision of the bill now before congress,
and known as the Bland bill, is as fol-
lows:
''rhe unit of value in the United States
shall be the standard silver dollur as now
coined, consisting Of 4l%I2 grains standard
silver or The gold dollar of - $40 grains
standard gold; that the standard gold and
silver coins of the United States SllHll be
legal tender in payment OF all debts public
and private. Any holder of gold or silver
button OF the valne OF 500 or mote. o1
standard lincnesS shall be entitled 10
have the same struck into any nu
thorizcd standard coins OF the United States
free of charge, at the mint Oh inc Uhlted
States, or the owner OF the bullion uiay de-
post the same at such mlnts aud receive
therefor coin notes equal in amount 10 the
coinage value OF The bullion deposited. and
the bullion thereupon shall become Ihe prop
erty of The government. That the coin aoies
so issued shah be III denominations not less
than ST. nor more Than Sl.UUo, anu shall be a
legal tender in like manner and Invested
with the same monetary uses as the standard
gold and silver coins OF the United States.
That bill also provides THAT the unit
of value in tie United States shall be
the standard silver dollar, as now
coined, consisting of 4l2]4 grains Of
standard silver, or the gold dollar of
25 $40 graius standard gold; and that
the standard gold and silver coins of
the United States shalt be legal tender
IN payment of all debts, public and pri-
vate." These two provisions are the
enactments necessary to enable our gov
ernmcnt to resume the free coinage OF