The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-07-11
THE FREE COINAGE OF CROPS.

The free coinage of crops-why not, IL
We have the free coinage of silver? The
value Of the output of American silver
mines last year as a commodity was
about $32. 900. 900 in the markets of the
world. The comparatively few men
owning the silver mines and their lobby,
scattered over the country, whose ca
| pacity is a combination Of unlimited
lung power and perpetual motion ongue
value of this commodity of silver to
them by coming fifty cents worth into a
dollar. That is all there is In their de-
mand, when all the 1embuoyant rhetor-
ic and the pretense of an indefinable
sanctity with which the silver Worship
ers surround their fetch are swept
aside. 1t is simply a demand that the
government double the wealth of the
owners of silver bullion, probably to the
injury of everybody else. There is rea-
son to believe the practical sense of the
mass of the American people had al
ready led the greater part of them TO
realize that all there is in this demand
for the unlimited coinage Of silver at a
ratio which doubles its value is simply
a scheme to double the value in silver
mines and silver bullion.
Newspapers which are often the echoes
of the people, in view Of the discovery
of the object of free silver coinage, are
already asking why should not the gov
eminent legislate to double the value
of greater and more important indus
tries IL 1t should resolve to legislate to
make fifty cents worth Of silver bullion
pass for a dollar. To double the value
of silver would be to create a number
of multi-millionaires in addition to
those we now have. such legislation
would confer vast benefits upon the
few at the expense of the many. Why
not reverse the order. and. If possible,
enhance the values Of those products
which interest the largest number of
people. and the output of whose labor
and capital are essential to the worlds
existence? The average annual value Of
the wheat crop for five years has been
1921, 900. 900; Of the corn crop, $675. 900, 900;
of the pats crop, s21S. OOO. 900: of the hay
crop, ffOo, VVVs UOts VI live StOCh, p1scoVsVVos-
900. Indeed. the value of farm products.
without including cotton, tobacco, fruits
and truck generally. is $3.50, 900, 900 a
year on the a-verage-more than a hun-
dred times the value Of the silver crop
the past year.
II the value of silver az a commodity
is to be doubled by free coinage, why
should not some scheme of free coinage,
that is, of enhancing value. be devised
for the wheat crop? 1t Is a commodity
that people of this country must have
at the rate of about Eve bushels annu-
ally per capita. 1t as sometimes too
cheap to make its raising profitable
why cannot Congress devise some plan,
say to make the price, not double, but
so per cent. above the average of the
past two years? If we should have the
free coinage of silver it would be neces-
sary to establish warehouses for the de-
post of the many millions of silver dol
lars which will be issued, and these
warehouses must be in charge of the
government-why not have warehouse
certificates issued upon a given number
of bushels of wheat at ninety cents a
bushel as well as warehouse certificates
for a given quantity of silver dollars on
deposit more highly ~over-valued than
the wheat? If we are to have a system
of free coinage which shall double the
value of silver bullion, why not a similar
system which shall enhance the value
of all the staple crops. making tens of
thousands well to do instead of million
aires of two or three scores of mine
ownerS2