Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1893-05-11
why There Should Be Free Coinage


from Columbus correspondent who
says he wants to know in plain Lam
guage our reasons for advocating the
free coinage of silver.
Out of the swarm of reasons that
present themselves we will select a
few We are in favor of the free coin
age of silver
Because, from the establishment of
the government down to 1873 silver
was a part of the debt-paying money
of the people.
Because its demonetization, by sur
reptitious means in 1873, robbed the
people of the basis of more than half
of their debt-paying currency. When
we say the basis, we mean primary
money on which currency notes may
be issued. The notes that are now
supposed to be based on silver are only
redeemable in gold.
Because the demonetization of silver
has immensely increased the value of
gold, This increase is shown by the
fall in prices, of all commodities that
are the products of human labor. If
our correspondent will compare the
prices of staple commodities in 1873
with the prices in 1898 he will see
that the average decline is about 80
per cent In other words 81 in gold
will buy to-day what $1.33 in gold
would buy in 1878. Call this rise in
gold or fall in prices, the result is the
same. 1t means that farmer who
could pay a $50 debt with one bale of
cotton ten years ago is now compelled
to pay it with nearly two bales. Does
our correspondent fail to perceive that
this constant fall in prices means the
constant increase in the value of gold,
the continual increase in the value of
debts and in the volume of INTEREST,"
| Because the unceasing struggle of
the nations to add to their stocks of
gold is another and a powerful reason
why gold should constantly increase
in value and price continue to fall.
Because low prices create depression
among the people-being another name
for hard times-and stihe enterprise.
| Because the single gold standard is
devised to increase the profits of cent
per cent bankers and millionaire gold
sharks.
Because, in short, it is an invention,
growing out of the partnership between
the European monarchies and the mil
lionaire bankers, to plunder the peo-
pie, to rob labor of its profits, to make
the rich richer and the poor poorer.
There are many other reasons why
we are in the favor of free coinage,
demanded by the Chicago platform.
Some of them ought to occur to our
correspondent as the logical outcome
of these we have given. AS matter
of fact, there ought not to be any con-
troversy until the crime OF demonetl'
zation surreptitiously committed in
1873 is wiped out by the restoration OF
silver to our currency as money
metal. It will be time enough then
for the money power and its agents to
show why our currency system should
be crippled by the destruction of what
is empatically the peoples money
leaving only gold to supply the needs
of the people.
Our correspondent asks us in regart
to the value of the silver dollar II
Canada and Mexico. There has nevel
been a time, SO far as we have known
when a silver dollar would not pas
current in Canada. 1t was stated
few days ago, when the administration
announced that silver was declared a
redemption money, that certain bank
ers of Nova Scotia would only receiv,
the American silver dollar at its bul
lion value. When a government dis
credits it's own coin what more natura
than that other people should follo'
the example? As to Mexico we know
nothing, except that that country ha
never closed it's mints to silver.
The silver in dollar is worth, whe
melted, about 81 cents in gold, an
this is because the metal cannot b.
taken to government mint and re
coined into dollar. Our correspond
ent wants us to be plain and We shall
\ try to be as plain as an old shoe. Th
silver dollar melted is worth only 6
cents in gold, but this disparity exist
only when we compare the silver wit
gold. Silver metal, only worth 6
cents in gold, will buy nearly (thoug
not quite) as much cotton, wheat Q
other staple commodities as it woul
in 1878.
Here is an interesting fact. It
the gist and essence of the whole bus
ness. If silver is found in 1898 hole
ing much the same relations to th
staple commodities as it held in 1878
although it and the other commoditie
have fallen in value away below gold
what is the inevitable conclusion
! Why, that gold. owing to the lnerea: