The Progress., 1893-07-29
AS YOU NNOLYALLOWED ANOTHER
To Do So, viii Here Give Ny Answer
TO financial Queries Of H.
ITO The Progress.

"J0c worth of silver and a dollar III
gold?' My silver dollars buy as much
sugar and coffee as my neighbors
gold dollars AMI % per cent more
than my other neighbors promised
gold dollars.
Does not the bullion value Of a
coin control It's commercial value in
the market Of the world?"
| know of no markets of the
world for coin save those of the nu-
mismaniacs. Ia them the bullion
value is not in it.
would not the free coinage Of sill
yer drive the gold or it's representa-
tive out of circulation"
Know of no representative Of gold
unless it be some OF our VI. C's. Free
coinage of silver might drive them
''out of circulation" but think it
doubtful.
As to driving gold out of circula-
ton, it might. IF it did it would only
be obedience to the law OF evolution
and the survival Of the tittest, an oh
ject lesson presented to us constantly.
Quinine drives malarial germs "Out
of circulation" in the blood. The
self binder has driven tie cicle, the
cradle. the reaper, the dropper, the
selfrake and the harvester "out of
circulation" in the harvest fields. The
railroad car has driven the stage
coach ''out of circulation" on the
highways. The street car driven the
omnibus ''out of circulation" on the
streets and the cable lines and elec
trio motors have driven. or are driv
ing, the street car mule 'out of circu-
lation'' on car tracks. IF the people
would rather ''circulate" silver than
gold they will do it, otherwise they
will not
If the intrinsic value Of a silver
dollar is SOC, would not gold with sill
yer coinage free be worth two to one?"
The ''intrinsic value of the gold IN
gold dollar or of the silver in sill
yer dollar, as understand you to use
it, is one of those hypothetical my BIS
difficult of comprehension. 'Intrin-
sic value" is largely matter necessi-
ty or caprice. To man with the
jim-jams the gold in gold dollar
properly combined with chlorine and
properly administered is supposed to
be worth infinitely more than the sill
yer in silver .iollar and for cauteri-
zing malignant ulcers the silver 10
silver dollar properly combined with
sulphur has more intrinsic value than
the gold in a gold dollar. You will
never succeed, neighbor, as student
or teacher of the financial problem
until you have learned that 'intriusic
value" is relative and not arbitrary.
"What would be the intrinsic value
or It's value in gold, properly speak
ing, of a silver dollar if the govern
ment would throw its enormous hold
ings of silver bullion on the market.
would it be worth 35c?"
Apother Of those hypothetical pro-
positions, too subject to the caurice
and chicanery of man to admit of be-
ing intelligently guessed at. Should
the government issue five hundred
millions of bonds and sell them for
gold, lock the gold mp in the treasury
then form a combine with the Bank
Of England and the Rothchilds, then
throw its enormous holdings on the
market" it might not be worth" that
is it might not sell for, 15c on the dol
lar if cash payment In gold were the
terms. Then should the government
throw it on the market" and an
nounce to the purchasers that they
could have it coined free into legal
lender dollars it would bring within
4 fraction of par Value is only a
relative term-the creature of circum-
stances are controlled by shrewd, un-
'crupulous and powerful men.
do You consider the silver dollar
more than token dollar,
much the same as copper, iron or
paper dollar would be?"
That is all it is. That is all any
lollar is, whether silver, gold. copper,
ron or paper. 1t is token of SOW
sreignty within the jurisdiction OF the