Arizona weekly citizen. [volume] (Tucson, Ariz) 1880-1901, 1893-06-10
Facts About Free Coinage.
From the Southern Mercury

query, ''Why and how would the free
coinage of silver be of benefit to far
mers?" makes the following sound and
forcible argument in the Buffalo,
(N.Y.) Advocate:
First. Because all debts-person-
al, local, state and national-could be
paid in the money of contract; consti-
tutional money of the United States.
sour mortgages, railroad, state and
national bonds and other debt .securi-
ties are held at home and abroad to
the extent of thousands of millions of
| dollars,
"LincOln said: IF a government
makes debt with certain amount of
money and then contracts the money
volume before the debt is paid, it is the
most heinous crime a government
could commit against a people,
''The demonstration of silver-never
asked for by the people--secretly de-
stroyed about half of the money basis
of the republic in use for nearly 100
years.
Scarce potatoes and apples make
dear potatoes and apples.
Scarce money means dear money.
cit takes more than twice as much
farm products to buy a scarce, dear,
dollar, now, as it did before silver was
demonetlzed. Thus, all debts are
more than doubled, and the crime of
Lincoln is committed.
'.And more yet. These vino hold
the mortgages and other securities,
can use the scarce, dear dollars paid
them in interest and principal. in buy
ing twice as much.
"Demonetizing silver doubled the
debts of the people and of the nation,
and doubled the wealth Tor purchasing
power of those who hold the 'securi-
ties
eff all the debts, taxes, and interest,
etc., had come down one-half when
farm products went down one-half, then
all would have Jared alike, and it would
not have been a Crime
''True it is that a dollar will now
purchase more than ever before, but it
will not pay more debts than ever be-
fore. Farmers know that the rich
mans dollar Will buy twice as much beet,
pork and also twice as much of his farm
as before the demonstration of silver,
and they also know that it takes twice
as much wheat, beef, pork and lard to
get that same dollar to pay on their
debts; whether it be personal mortgage,
or the local, county, state and national
bon Is, which are mortgages on US all.
Therefore, free coinage of silver will
undo the crime (but, alas! not all its
sad Effects and place the debtpaying
power of the dollar once more on an
equality with its purchasing power, as
it was from 1892 to 1873.
ave must have money for the mil
lions as well as for the millonaireS.
''Second. England is not an agricul-
tural, but a great manufacturing and
commercial nation. She wants cheap
food for her factories.
"If she can get cheap food and cheap
raw material, and can break down the
protection other countries have for
their people, she will control the world
in manufactures and commerce.
England demonetized silver for 32,-
600, 900 of her people in England },
but left free coinage of silver in her In
dia for 24o, 100000 of her people.
She bribed some of our statesmen into
demonetizing silver in the United
States.
''What fixes the prices of all our
wheat, cotton, and other products of
which we have surplus? Liver
pool prices.
"What fixes Liverpool prices of
wheat and cotton? India prices.
"What fixes the prices of India
wheat and cotton in Liverpool?
The price of silver bullion.
"The United States furnishes
about half the silver bullion used by
four fifths of world as money, to-
day.
'sAt the time Congress demone-
TIED silver England was paying us
SI.2o an ounce for silver bullion.
''After demonstration of silver,
England could buy our silver bull
lion as low as eighty cents or less.
"An ounce of silver bullion will
land bushel of India wheat in
Liverpool free coinage of silver in
India makes it money there.)
''With free coinage, and silver
SI.2o an ounce, India wheat was
worth STAG a bushel in Liverpool,
which fixes the price of all our
wheat in this country.
''With demonetized silver and sill
yer eighty cents an ounce, India
wheat is eighty cents a bushel in
Liverpool, and all our wheat is down
in price also.
"Under free coinage, England
used only 100000 bushels of In
dia wheat in a year.
"Since decentralization in 1901, she
used 100000 bushels of India
wheat.
"The same argument applies to
cotton and its prices; England has
increased her importions of India
cotton in the same proportion that
she has her India wheat.
"By demonetiZing silver we have