The Pascagoula democrat-star. (Pascagoula, Miss.) 1878-1920, 1895-09-13
Unlimited Free Coinage fallacy of Sen.
ator George and Others.
Editor Democrats star

unlimibed free tonnage fallacy OF SEN
ator George and Others.
Editor Democrat-Star. ~
The "Uulimited Free Coinage" scheme,
is based upon the assumption that bank
ers, successful business men, the Presi-
dent aud government officials selectqd ou
account of rare financial ability and
craftsmanship, do not know as much
about financial. commercial aud indus.
trial laws Us silver miners. ofico-seeking
dnmagogues. common laborers and chron :.
ic fi%nltfinders; or that they are con.
spllit0rs aud schemluy ~sc0nndrels.
Said Senator George: ''Quick ~ the
lightning from the cullied night, IN mn.
expected ms tho lightnin. ut mid day
from u clOndless sky, and with the d..
stlnctive force OF IL thunderbOlt. the blow
fell upon the innocent victim the peo-
pie Of America. They SAID "Let there
bc II panic land there was q panic"
Also. ''ihe banks hi wing control Of all
this curiously devised machinery Of
credit, may bring on u panic Whenever IL
suits their INTEREST to do sO.''
II will be roticed that the burden Of
''trec silver speeches, ~ Communists.
C0xeyi;es, Debsltes and tho like, con-
sists Of denunciationS Of existing laws
aud public officials, and the best cOndi.
tons ut finance. commerce., etc., etc,
throughout the civilized world.
Your valuable space forbids more than
an expose Of the mai c~OntsutiOns Of
Free COinels," In fact, unless they are
more competent to fimancier this country
and the world, their schemes aud dicta.
ti0ns, have no merits worthy Of consid-
e%ration, and the fallacy Of the following
contenLions being shown. what is there
left upon which " have their sophism.
'DEMoSATIzIXG". ACTS AND MONEY
s~RRlNxAGE.
The silver legislature Of 1873 and since
furnish their grounds Tor assault upou
| the claim that silver was ''demOuatised,n
discredited, 10 the interest of ''xOld bug"
bankers, and for u shrinkage of silver
money. The fallacy Of this contention ID
proven hy the tact. that during go years
PRIOR to ls73 only 8,0al ,23a silver dollar,
were coined, and that since that time
there have been cOInel $l27 1854 ,0l5 sl
yer dollars, and $76. 1879, $50 N silver
change, making u total Of some $500. 900.
600; that ID 1878 the money Of the coun
try per capitS was but $l7. l6, while IN
1891 it was W. OF: also that the coinage
per capita in 1871. was, gold $l.37, silveI
10 cts, and in 1890, gold 80 cts. silver
81 cts. Every MAJ old enough knows
that silver has been more abunlently
in circulation tho last few years than bo.
fore, and any one who will look at til,
dates III silver coin. will lind nearly ever,
one has been coined since 1873. includin,
1875,
UNLIMITED FREE COINAGE FALLACY.
This contention Of the silverites is s,
uu:enable as to fOrcs the conviction tina
it originated with overgrasping silve
producers, andis being forced upon tn,
public by office seeking politicians as
vote. a hing scheme.
Senator George declared, ut IL not tw,
years till o Free Silver President and
Congress will lie elected" The c~ivilize,
world will rejoice to know that his yea
has run riot over his prophetic wisdom
Unlimited free coinage wOuld result !,
such an increase in silver mining as +
bring the annual output up tu 800, 900.
900 or more ounces DO the ~silverites OK
pect to compel the government 10 cOit
on demand, all the silver that might i
dumped upon its hardsi 1t would b
au ubsurdity Of course, Int Il NOT enforce.
what would the owners Of silver bnlli0
and old silver do with their holdings
Again, If the government were no
compelled 10 coin several hundred mil
lions q year, bat coined AD NBITuM, M,
should decide to first coin the bnlliol
now stored in its vaults. many year
might elapss before individual hOldei
would be recognized at the mints Of til
country. Hence, no one. not even si,vt
producers, would be beuefttrd, viii
our National credit might be most disa'
trOusly affected.
"PAEITy" AT l6 TO 1.
Recognizing the law Of supply and 4,
mand us determining the commercial valu
Of all products, what is the possibility q
coiniug both gold and silver upon an
fixed ratio aud maintain q "parity" upo
, tll0 UtGSto VI COHintCtCtdl Ndluo. ~ uO ~
the commercial value Of gold and silve
would have to he made uniform and KEEP
at the stipulated ratio, by legislativ,
enactment, and to this end. the annua
output Of both metals US we'll as the
demand by the industrial arts must b
subject TO legislative control. Thss
pro posltiOns are all too prepostcr0us I
receive Intelligent support.
As there can be but one INIT Of none
by which all commercial values are 81 b
estimated, ''bimetalism" upon amy IKE
ratio, based upon CONNIE rcial val ie,
chimerical in the extreme. Is there vii
dom in this Nation adopting silver as II
unit OF measure when the most advance
nations OF the globe recognize gold
their basisi Whether the money unit
? gold or silver, wonld make no different
to calamity howlers, COMMUNISTS, th
selfishly ambitious for Office or wealth
the rights Of producers and consumers
: capitalists and labOrers, except ~ the
conform to lawsthat secure the creates
= good to the greatest number.
i, II. s. HYATT.