The great West. [volume] (St. Paul, Minn.) 1889-18??, 1893-01-27
FREE colNAnE Is DEAD.

: -
FREE COINAGE - DEAD.
AZ Least, One " shylockp Organs M
sists That It u.
r. any delAded Populist has any
hopes for legislation favorable to
silver by congress- let him read the
following from the Chicago Tribune:
A Colorado paper makes q sad mis-
take in trying to reopen the agita-
ton for free silver coinage. and al
leging that the battle has just com
menced in earnest" 1t admits that
there is only very faint hope for
action in the present congress- the
house not being likely to embarass its
successor by the passage of the Stew
art bill. and that Democrats in the
East have already called tor the re.
peal Of the act OF 1890. It says truly
| that during the last two years the
the sub ect placed before them as
they never had previously. It does
not tell the truth in stating that
wherever the subject has been thor
oughly understood silver has gained
ground. if by that it means free
silver coinage.
A few among the silver mine own
ers may still be foolish enough to lay
to their souls the fattering JUNCTION
that the people of the United States
want free silver coinage but most of
them know to the contrary by this
time. The agitation has exposed the
weakness of the plea and the utter alb
surdity of the pretext on which a
handful of silver mine owners have
sought to enrich themselves at the
expense of the nation. 1t might be
idle to attempt to fore asst the result
OF the Brussels conference. but there
is not the slightest reason to appre-
hend that it will favor free coinage
or that at most it will 60 beyond rec
ommending such a moderate enlarge
'1nent CT the use Of silver as would
prevent a further recession in COM
mercial value. The point was long
ago made by the Tribune that the
relative value of silver would be found
to be much nearer one twenty fifth
than one sixteenth of an equal weight
of gold and for months past the
price has varied little from the frs
named limit, while the statistics of
production have indicated it as prob
able it would have sold even lower
but for the artificial market provided
has been prod iced in large guam titles
at a cost of less than one third the
rate at which the advocates of the
free silver movement want to have
it coined; and if it's coinage were
made free as demanded. the unit oil
money value in the United States
could not long remain above half its
present value. In that case the buy
ing power of all the dollars now in
existence. outside of the gold coinage.
would be reduced some so per cent
and the holders of that money be
made so much the poorer for no bette,
reason than that a few producers oil
silver want better market for theil
property.
The papers published in the silver
I mining regions would be much better
| employed in telling their constituents
: the true state of affairs than IN trying
10 lead them with the raising of hope.
7 that can never be gratified. They
: might just as we'll enter on a crusade
= in favor of placing the minimum price
. Of wheat to the farmers of the Yves
3 at two dollars per bushel as to tall
4 about the possibility Of finding q per
t manent market for silver at three
e times the cost of production. A few
! people outside have been deluded by
, the false Cry. and a greater number
/ have given the silver men false en-.
t enlargement by protesting to favor
free silver coinage when they looked
upon that as only step to an I'M
8 limited issue of paper currency which
a would drive both silver and gold GU
i of circulation. The silver mon ough
to beware of the latter as their wors
. enemies instead of taking them t,
n their bOsoms as friends Th,
t depreciation of the currency uni
| has been pronounced: against by boil
q the great parties not only in thei
+ platforms but at the polls. A care
+ full canvas of the position of the mex
q. house Representatives shows that 6
= free coinage bill would have yer!
! little chance among them. Not les.
!. than 1914 members can be depended
f on to vote honest money. leaving onl,
y 1872 to vote the other way. and ever
4 if the majority should turn in favor o
free coinage the bill would be vetoed
by Cleveland
. The only party that favors fre
silver coinage and the consequent de
probation of the currency unit is tn,
:. one which seeks to sink the value o
: the dollar SO low that even the silve
coin would not circulate. So tn
silver men would do we'll to ceas
!, their foolish agitation and advis
= their organs to let up on the advo
cacy of measures which are impracti
. cable while ii they could be carrie
: u out the result would be to leave then
. in far worse condition than the on
from which they seek to escape ]
5. they have single grain of good sens
they will be content to let wei
: enough alone"
Y Moro Money n, Less Misery.
= The money question won't down
y the Democrats may preach tariff 70
revenue but it will not make bette
times The Republicans have had
It trial of high tariff which did nc
Q give satisfaction to the Industrial PEG
st nile Under the financial systAm wit