The Canton times. (Canton, Miss.) 1893-1906, 1895-05-03

II
X ! wish to thank you for publishin
my article. though think you mad
some minor mistakes, to wit. 70
make me say that silver was demone
tized in 1875, when it should be 1874
| You also make me say II I can buy a n,
raw material and sell it for 81 90
make so cents. said II l can buy an,
raw material for so cents and sell /
for 81 90 I make so cents. I am mucl
pleased with the article you published
from the Jackson News, styled Bible
Money. It says that in olden times
they had coinage of gold and silver al
q little over IA of silver to / of gold. |
think some Bible historians say that a
shekel Of silver was worth so cents.
and shekel Of gold was worth dol
lar. II this is correct it is 16 to 1, but
as to the ratio. that does NOT matter
just now. The fact remains that gold
and silver were both used as money in
those days. II says another thing is
brought out. and that is those ancient
people had cattle on a thousand hills
and were very prosperous people.
think that II our minis were open to
the free coinage OF silver, at ratio OF
Is to 1, we would have more cattle and
more Of everything we wanted, and
be more prosperous people. The on
~ objection I see to the use of silver
as money in the clipping referred to is
its weight. And we will never get
enough to bother us much. also see
in your issue Of the 10 inst, under the
caption Of Wrong" at is strange that
Intelligent men can be found to say
hat silver is demOnetized, when there
. about $7OO, 200, 900 of that metal in
circulation today in the U. 5. and a.
rood az gold in value, made 90 however
i very dear cost to the government,
which is the people. who must be tax.
d to make half the siller dollar good,
. it's intrinsic value is only SO cents.
his certainly is dearer than 4 per cent
n bonds. The government can oniy
ct money BY seingiorage, borrowing
nd paying interest, or by taxation to
reate q surplus, both OF which. the /.
utter however, are better than to coin ,
liver and give bullion owner 100
ents for SO cents and have to make
le so cents good to the holder OF thu /
Pillar after II is paid out by redeeming
in gold il demanded, &C."
Now If there is any obligation by the !
,vernment to redeem . silver dollar,
would be glad ifyou would point it !,
It 70 me. The silver dollars are not !,
be redeemed. but they oy law have I
ual rcdesming qualities with GOLD. .
ne same act that aut horized the pur- Z
ase Of silver bullion and to issue sill 4
r certificates in payment Of samr, &
Va they. 1.-THE silver certificates !,
all be redeemed in coin. 1t further =
rs gold or silver coin at the option =,
the Secretary Of the Treasury, not !.
the option Of the holder OF the Ger. -
Gates as you would have the people
ieve. ! will also say the free silver =
vocates do not claim that silver -
ms are dcmonetized, but silver bull :.
is dsmonetizsd by law and by
'etice. The SECRETARY Of the Treas
.-AN Z 4 l5 / 4.
was authorized to redeem every
'er certificate that he issued in paw. ma
ut OF silver bullion THAT he bought thu
Ter the law known rs The Sherman ma
Act.) II he had seen III to the
30, and ii there was not sufficien. ere
IT silver coin in the treasury to re- II
m the said silver certificates, h. Is =
authorized to coin silver bullion tina
he had bought and get In that at |
silver coin to redeem them with. ma
having the option, saw fit to re- cre'
n them with gold coins and reduce pac
gold reserve and sell bonds to re- is q
ish 1t and let the silver coin re. and
idle In the vaults of the treasury. NAL
We been speaking of the Sherman cres
which authorized the purchase OF thel
200 ounces OF Silver bullion max
lhiy' which has been repealed. mp t
Tree silver advocates do not ask trail
government to buy silver bullion max
y price, we simply want the gov -
ent to say how much silver shall
ntained in dollar, that is how b
grains shall be put in a dollar
sk that 4lsH grains shall be put
dollar, which is, IL I am correct
0rmQd IA tirpao /. .~~.-x ~.