The Caucasian. (Clinton, N.C.) 188?-1913, 1895-06-27
COINS FINANCIAL FOOL"
The Less You Have to do With Liar
The better IL VIII be For You.

ne II w tou
One of the numerous little coo.s.
employed by the gold bugs to aas.er
COINS Financial School is u man
named Horace White. He named
the answer he wrote COINS Financial
FOOL, aud in so doing he give him
self more appro pirate name than
any one else could have given him.
A reader of the New York World
One Of the greatest papers in the
country, brought out this fact plain
ly by making al Inquiry Of that
paper. Here is the inquiry and the
answer:
70 tie Editor Of The World:
Il have just purchased copy OF
Horace Whites Coins Financial
Fool" In the introduction Mr.. " bite
says that the object Of Coins Finan-
clal School" is TO bring about the free
coinage of silver at legal ratio Of 10
TO by the action of this country alone.
As the market ratio OF the two metals
is - to /, it is evident that this coun-
Try cannot make sixteen ounces of sill
yer equal in value to one Of gold, when
the whole world is offering thirty-twO
ounces of silver for ore ounce of gold"
Is this statement true: 1t seems To ne
a most remarkable one. and not at all
in accordance with he facts concern
ing silver which have been published
recently in The World
ALFRED BONE.
New Haven. Conn.
| The statement is untrue. Mr.. Whites
| book is untrustworthy, a special plea
in defense of recommendation, in which
| only a portion of the truth is ever al
| lowed to come TO the reader and very
| often not even minute portion. That
| ''the whole world is offering thirty-tWo
| ounces of silver for one ounce of gold"
has not even a tint of the truth. Ii Mr..
| White had said that you could purchase
in the market, for a limited time and to
a limited amount, thjrty-two ounces
of uncOined silver for sixteen ounces
of coined silver, and that uncoIned
silver was at a discount Of 30 per cent.
in coined silver, he would have told
the truth. But the truth is not to be
told at all times, seldom in book of
this kind. The market value of coined
silver in no country of the world is
less than l6ls to in gold, and in nearly
of uncOIned silver bears the same pre-
portion to coined silver that it does to
coined gold, and every word that Is
true of gold is true of coined silver.
The amount of uncoined silver in the
world is a IN mute fraction. too minute
fraction almost for computation, as
compared with the coined silver. The
difference in value between the coined
and uncoined gold or silver is the cost
of coinage. As it costs nothing to have
gold coined, the two prices are the
same; as the cost of coming a silver
dollar is 80 cents the bullion value is
only 80 cents. At the opening OF his
book, to show the former low rate OF
wages, Mr.. White quotes Matthew 5
gospel that a laborer 800 years ago
received "a penny day" He know.
very we'll that this s a mistranslatIon
the "denarius' translated penny
being a Roman coin containing II
cents worth of silver, according to oul
present rate of coinage, and equivalent
in purchasing power at that time o.
food and necessities to about $500
The less you have to do with a book o
this kind, unless you wish to be fooled
or to fool somebody, the better it vii
be for yourself.