The Somerset reporter. [volume] (Skowhegan, Me.) 1868-1909, 1893-10-12
For the Reporter,
\ Leaf From My Scrap Book
silver Purchase.

our representative, Maine 3ri Con
grc> .ional Dist. on Aug. Il made the
ablc>t speech on the question ol silver
purchase ever yet made in congress on
that subject. viewed from partisan
standpoint or in any other virw; il lays
bare the bleeding wound, II protective
industries caused by Democratic as
tendency in the government; a mas
been we'll said he hits every nail ON
the head. Vet he SAYS the silver pur-
chase bill i made the >cape goat OF AL
the present financial trouble and l. nor
the real cause. still he Joins hands with
the sound money wing, II eall.d, OF the
Democratic party to Kill the poor sin-
ridden goat and this child OF comprOln-
i~e is diSoNncd by both political parties;
and brother Milikcu calls il Tub
thrown 10 the free silver party; and yet
the ONLY difficulty with thi, measure i
that whilr il has afforded surplus uf
silver money and bullion locked up IN
the Treasury. il has diminished the gold
reserve in tn" present pa ic till the rate
Of gold cola reserve to the constantly III
crcasing amount of silver in The Treasury
j. such rs to threaten Il suspension. not
of specie payment, but of gold payment
And vet the relief for this difficulty l.
found in TIA" bill itself for the silver GER
ticate> are made payable in silver coin
pay the certificates in silver if called Tor.
l. not silver money and legal tender:
But one may truly Say that paying GER
tificates in silver will not increase the
amount of our currency while more cur
reucy is needed.
Then I offer the suggestion that after
the silver purchase hill is repealed Con-
gress should rrcnact it with slight yet
potent change providing that the silver
bullion purchased under that act be
paid for in silver coin without issuing
any more certificates. this would be
limited free coinage, the seignorage
would be covered into the Treasury "a
it is now under the present bill. Ihis
sciguorage or royalty constantly accu-
mulatng should be coined and will be
money in the Treasury on which the
Secretary lin his discretion perhaps
should be authorized to issue silver Ger
tiiicates, to be kept ON a par with god.
The free coinage money under such
proposed measure would be received in
exchange for the bullion thus sold and
would at once 90 inro circulation and be
tho upaplps free money. no shall say
If would not BASS current among the
nnonle beino made a leoal tender. l.
NOT silver coin sound money: Shall we
hanish silver rs money for the sake of
hn;no called sound money Republicans
ar sound money Drmocrlts> No, while
we would not allow unlimited free coin
ace and coin all the silver in the market
az rho world into United States money
we would take and coin such limited
umourt ms our preat and ever increasing
rommercinl interests may require. and
inf the same into circulation.
Much has been said about cnlarging
orr silver dollar to make an boncst dollar
on - mar with cold lust a. if our gov
nrnment ought to enlarge or dimish the
size of our dollar at every change in the
market price of silver bullion. 'twould
he ouite rs easy to change the tables of
nancy and make 80 cents - cents or
INV other number of cents IA dollar i'll
ste,d nf 100 cents and so ON to confusion
ronfounded. Much has been said about
/ the Intrinsic value of silver and much
! has heen written TO show the unfathom-
! III. ,,.;,lo,, of tho n,ritor all wnIl i'm