St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-04-10
QUESTIONS FOR f., s. & H.


Farm, Stock and Home makes answer
to the GLOBE briefly" There are
some points about which there need be
no contention. The GLOBE favOrs BIZ
metallism; that is, the free coinage of
both metals on any ratio which will
make them what they were for cen
turtles, intercOnvertible. There is no
dispute that the decentralization of sill
yer, not by this country, but by the ma
tiOnS of Europe, by lessening the de-
mand, aided materially, if it did not
cause, the fall in the price of silver. AS
we were without either silver Or gold as
a medium of exchange at the time of
our demOnetiZatiOn, that act could have
had nothing more than moral lnflu-
ence; itneither increased nor diminished
the use of silver. The GLOBE must in
sist on this position, regrettIng the
disSdence of its contemporary, be-
cause it is the position of fact and COM
mon sense. IL this nation were to dis
continue the use of sugar, 1t would have
very marked effect OH the price of that
commodity, but if it were to decide not
TO use pulque it is not probable that it
would decrease the price of that favor
tie drink of the MeXicans, because our
decision not to use thing we were not
using could hardly decrease the demand
for it.
But the GLOBE is of the opinion that
good deal of the underbrush would be
cleared away by the agreement or disa-
greement on some fundamental queS-
tons. 1t would therefore suggest the
following propositions for the contem-
platiOn OF its esteemed contemporary.
There had been coined from the
foundation of the mint to 1878 little
over 100000 silver dollars as against
nearly 500, 100000 of gold. How can F.,
S. q H., then, assert that the act of 1878
destroyed 'half the money basis of the
cOuntry?"
Is it legitimate function of govern
ment to make or try to make values?
Should OURS, if it can, by legislation, in
crease the price of silver? If of silver.
why not of wheat or shoes or clothing?
F.,S, Il. Ii. opposes protective tariff,
the purpose of which is to increase
prices. because it is not rightful func
ton. What is there different in silver
bars and pig iron or wool that makes 1t
right for congress to try to increase the
price of the former and not the latter?
As to the contention whether gold is
approaching or silver depreciating, the
GLOBE admits that some very eminent
gentlemen believe that the yellow metal
is the one moving upward, and JEvON
makes a very ingenious argument to
prove it. But the fall in the prices of
commodities can hardly be relied on as
establishing the claim. There are many
factors in that condition; price of ma
terial, wages, substitution of machines
for manual labor, increased production,
competition, are some of them. Would
not the better test be the price of the
use of the thing? This is true of land
and houses, why not of money? If land
appreciate in value the price of its use
advances: if demand increase the price
of houses. their rent increases. If money
gain in value by the excess of demand,
the price for its use Is enhanced. Has
there been since 1878 any increase what
ever IN the price or the use OF g0ld1
Would this not have been the result if
gold had appreciated?
But, granting that gold has gained
in value what silver has lost, where
is the injury? Every silver or pa
per dollar is convertible into gold
dollars without discrimination. Men
take silver or paper in exchange for
gold daily and without question. We
have in use some $3.50, 100000 of silver,
either In coin or its representative Ger
tifcates. and some S6OO,OOO,COO paper
currency, all redeemable in gold and
readily convertible into it. If gold has
appreciated in value it has shared its
increase with all this other currency; it
has advanced equally in value. Where,
then. would be the gain in decreasing
the value of this most generous gold?