Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1895-08-08

and Is forced to sell either at private
bargain OR at auction in order to pay
his debt or become bankrupt. He
chooses the latter course and makes
an assignment and settles for so cents
on the dollar. We are in pretty much
the same fix as the merchant at pres
ent, and if We keep on buying more
silver from these ..silver kings" the
worse fix, and instead of paying so
cents on the dollar will be hardly able
to muster more than 10 cents on a
hundred dollars.
That is bad state of affairs truly,
and 1t is time this mad cry for free
silver" was being investigated. The
government, from our friends stand
point, is already hopelessly bankrupt
1t has outstanding and subject to re-
demption in gold, (as our contempt
rary contends}: United States notes
or greenbacks. 1916, 900, 900; gold GER
tifcates. $4S, 400, $50; standard silver
dollars, $34S, 954, $40; silver certif-
Gates, 1928, 1874, 504: treasury notes of
1890, $146, OoS, 400; making total to
be redeemed by the government in
gold, as the gold standard advocates
contend, of more than billion dol
lars. As there are not billion sec
onds in thirty years. one may form
some idea of the magnitude of that
sum,
Our friend and his party hold that
the government must redeem this vast
sum of token money in gold. How
much gold has the government with
which to redeem it? Less than five
months ago the government authori-
tives gave the Rothschilds and other
bankers bride of ten million dollars
in a bond deal to allow the compare
lively Insignificant sum of a hundred
million in gold to stay in the United
States treasury! A hundred millions
with which to redeem more than a
billion. If our friend and his party
are correct. it is about time Uncle
Sam applied for receiver-for some
one to receive the designations of all
who are now in power, and to receive
the corpus defunctus of both the po-
litical parties, whose joint rule has led
up to this condition.
But the above startling statement OF
the condition ofsthe United States is
correct, if the policy of the single gold
standard is to continue. 1t is serious
matter indeed, and we are ready to
join our good friend in the despairing
question: Where in the name Of
common sense is it (the government,
going to get the gold TO do it with?'
But let US first see something about
this .'mad cry for free silver in con
nection with this terrible financial con
dition. How long has this condition
existed? The seed of it was planted
in 1873, and it is the growth of the
" SIuIC bhSu' 41olO ohs ho"s oOa
scare off; the condition is serious
enough to merit serious thought, and
even to bury prejudice beneath com
mon sense and reason.
Previous to 1873, there were no sill
anything else to be redeemed in gold.
Previous to that date if any one
had suggested the redemption of silver
dollars in gold, the whole world would
have laughed at him. Measured by
the market value of the metals, which
the gold advocates now SO delight in,
the silver in the silver dollar was
worth three per cent. more than the
gold in the gold dollar. Previous tG
1873. everything that was to be re
deemed by the government. and every
thing, including bonds. except the in.
terest thereon, that was to be paid by
the government. was redeemable and
payable in COIN, and coins were then
made of both gold and silver, under
precisely the same conditions and val.
ues as money at the ratio of 16 parts
silver to 1 of gold. Now this is a
fact, isn't it?
This being granted, whatever the
government had to redeem or pay, il
had the entire product of the gold
mines and of the silver mines to do ii
with. The government did not own a
single gold mine or silver mine, but it
had minis established in various con-
venient places throughout the country,
at which it converted both these me-
tails into coin, and it had the power of
taxation, unlimited taxation, if you
please, so in coming both of these me-
tails into absolute money, with which
to stimlate enterprise, industry and
productive wealth, it is entirely correct
to say it had at its disposal the entire
product of the gold and silver mines to
meet these obligations.
Now comes 1878, with our friend
party in absolute pOwer-Executive,
Senate, House. Supreme Court, Army
and Nayy-the standard legal tender
silver dollar is stricken from the coin