The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1894-10-18

isnsy q fos : to dscilSs. Xs:uxins IL =
BE- worth % cents In our lawful money the
holder Of the bullion may demand and get
for s7iM grains, and that dollar y
As the result Of this, either one or two
things will happen. Either all the silver
In sight will advance In value to gold at
the ratio Of 10 70 I, or the purchasing
power Of the dollar will be reduced to 50
snt' @ Of worth Sus s%o s Ssa ds ai gold %Ss SHSs
Of these II likely to happenf
The Espsrisncs Of Every Nation
In the world proves that the cheaper
money will fill the channels Of circula-
tion, and the money of higher value will
be boarded or exported. This is rule a.
universal as the movement of the earth
Ground the sun or the flow OF the tides % OF
silver worth one-h half In commercial
value can be paid instead. The amount
Of silver in sight in the world 10 stated at
9,000, ,000, 900 ounces, each ounce containing
4so srain, The annual production ooo ct sil Sill
ounces, the commercial value OF which is
e125 OO0, 900, but the coinage value at the
present ratio is now about s225, ,0O0. 600.
The vast hoard of silver will be invited
to the United States in the hope to obtain
more for 1t than its market value.
What benefit will this radical change in
our coinage laws If made, confer upon
the people of the United Statess 1t is
said that It will double the price of all our
productions. So it would nominaly, but
will it not also double the price Of all you
have to buyf Foolish men may
Sell Their Farms
at higher price, but will the money they
| receive purchase any more or as much
| property of any kind as they sold?
The workman whose daily wages are now
! payable In gold or its equivalent will have
| to receive silver dollars whose purchasing
| power is but one-half Of the money he re-
| ceives now. If he demands higher wages
because of cheaper dollars he knows how
| difficult 1t Is to secure proper Increase OF
| wages.
II tbs farmer gets higher prices fol, his
crops 1t will be in money of less purchas-
| ing power. But two classes of men Will
be benefited, the debtor who can pay his
debt In cheaper money. and the owners OF
silver mines. The debtor gains by cheaper
money, but is it honest to borrow gold and
The owners of silver mines generally or
ganized into great corporations will get
| nominally more dollars for their product,
but II they are just to their workmen the
cost of mining will be Increased. l do not
see how in the end the silver miner will
be benefited.
| II the object of this change is to increase
the volume of money why should not the
government buy the silver bullion at its
market price and issue It's money, coin or
paper to the amount of the cost OF the sill
vert This would give us more money and
we would have in the treasury enough
| silver at gold prices to redeem our money.
This would be honest and right. We
tried that experiment In 1890. We passed
law requiring the secretary of the treas
ury to buy the enormous amount of 4,5OO,-
| 600 ounces of silver q month at market
| price. and to issue In exchange for 1t
| United States treasury notes. l voted for
this law and 1t was called the sherman
| law" I
Voted for 1t with Much Doubt,
upon the confident assertion that this
large purchase of silver bullion would
prevent its declining in value. But, in
grite of our purchases, the price of silver
went down, down, down. from los cents
| ~ ounce to 65 cents. and this loss fell
upon The government The experiment
having failed, congress repealedthe act Of
| 1880 and voted for that repeal.
What would be the inevitable result of
the free coinage OF silver now. when the
silver in the collar is worth only sc cents
Does any man need to be told tina. it viii!
be worth only what II costf
By carefully limiting the amount OF sill
yer coins aud coming only on government
account we can maiItain silver coins At
par With gold coins. just as we kee. paper
money BY promise ,c receive \ as as mDney on
is what we did with nearly e400 ,000, 900 of
paper money in 1919 Ne accumulated II
fund Of gold we promised to pay the notes
in coin The notes had been deprecated
during and after the war. We lifted them
up BY resumption in January, 1879, and
from that day to this they have been of
equal value with gold coin In any market
OF the world.
In this way we have thus far maintained
our silver coins at par with gold, We re-
~, kk-,~~ xNtA H., s,x
vast sums In the treasury, and for the con.
venience of our people we issue certificates
for them. But
How 10 This Donsf
BY carefully limiting the amount of notes
issued and holding large reserves in both
gold and silver and redeeming our notes
when presented.
States that all forms Of money shall be
kept equal to each other. Thus far we
have been able to maintain that pledge. Is
1t not matter Of pridt to every American
that our courage was demonstrated in war
that our generosity and moderation were
displayed in peace; that our financial
honor Is untarnishec and our credit ].
equai 20 that of any nation in the world
Tho FREQ Coinage Of silver
will break down all this Tbs government
will lose all control over the amount Of
money to be issued. This will depend
uDOu tuc kTccu VI udilhSTe duu UuIllOi
dealers There will be no limit upon I,
except the vast quantity OF silver in th'
world. All t.,is will seek our market 81
long as our saver dollar is worth NOR,
than the bui;.pa in il. The result il in
evitable; as certain as tbs law OF gravita
ton. The purchasing power OF The silve
dollar with cuinage free viii, be the niarke
value of the silver bullion. No gold viii
be taken to the mint or be paio into tn,
treasury.
All we have will be will be withdrawn
and the United States will stand will
China, Japan. India, Mexico and Soutl
America as silver states and be detached
from the great civilized nations of Europ
who still maintain the gold standard
The Democratic platform which l reat
to you denounces the Republican part,
for demonet:zing silver. brief history
of silver legislation will show how fals'
is this statement.
At the beginning of our government,
gold and silver were recognized as tn,
standards of money at their relative mar
ket value. A careful computation wa
| hv n