Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1895-03-30

PoFtabt sltFUi atN, thcEciofc stautl
complies
The free c,;asle NJ silver mean
that fit were s.laNed by lsw all per
sons WHO own silver bui!inn coal,
take it ie the mist and haven coined
ana receive Inc proceeds in silver dol
lzr.-
TO-DAY. the law only SLOWS free
coinage at gold, and any per,ea wi,
Is. baiicn ,sa carry II 10 the Mint
MI have il coined ami receive the
proceeds. The mint 10 not run for
profit, hat az public convenience,
~nsverihsifss. il Is entitled 10 make
soaie thsrge Ia pay expenses Of lie
operation. .lhVreiorc, The term tree
coin.seH does not mean coming tree
u zil charge, bu; the tree snd uurc-
strained right TO have one, bullion
coined in ;he mint. This right is pos.
sessed b, all holders Of gold, but mo-,
by holder. Of silver bullion. The
min, will not scoep, deposits OF sill
vcr bullion and will not coin H., be-
ing forbidden by Tie Law TO do so
Having come TO an understanding
OF what free coinagc means. il will
be worth while 10 inquire wha, would
DO the general effect Of law author
izing the free coinage OF silver.
Fine bullion 10 now worth in Lon.
don aud New York Markets about 20
cen,s AN ounce. Any person eau pur.
chase ii at that rate. II Tree cuiDagc
were allowed il would be possible TO
buy silver at 20 cents all ounce, take 1t
10 the mint aud have ii coined Into dol
lars al the rae at l2g cents az ounce.
Snpposins that the mint would make
some charge for this coinage, and csii.
mating it a; 4 cent...on each ounce, the
persons purchasing silver al 70 cents
and coming il al the rate OF 1873 cents
would make o net profit OF IS CENTS on
each ounce. This would be a most
profitable business TO the silver miners
and spectators, aud il would arouse
SO much competition that the market
price OF silver would 60 up cons!dera.
bly,.
1t Is easy 70 sec how the free coin
age OF silver would bcucft holders Of
and spectators in silver bullion, but
how would il benefit the masses Of the
people? 1t does not appear that any
OF the persons who would 80 largely
profit by free coinage would freely
distribute their money TO the masses,
nor is there n way by which the
people 1T large would be able 10 get a
dollar more than they are getting IN.
der the existing laws. Nor is tho Coy.
crnmcnt able TO get anything out Of
tho bullion il coins for others unless II
be the mere coinage fee TO pay expen-
SEES. In such n case the mint IS simply
m agent aud stampa ,l.eir mo-!
without participating in it. A. meas
ure which would cs"s me ulsOuFke'
ncp, NJ, largo ~.-ounts Of pubic moR.
nv worli3ut ii in circulation and en-
people in every industry 10 get
more or less OF il, but how anybody
GU the face Of the earth. sage the hol
ders of silver bullion, could be in The
least benefited by the free coinage Of
silver passes comprehension.
As a double standard of money a
few words may be said, There are
Two principal money mctals-silver
and gold-au1 there arc, therefore
two money standards, hut they do no,
exist together in the same country.
Although both silver and G Id are
used IS money in all commercial coun.
tries, there is in each country only one
standard. In some, such az most OF
the European nations, the gold stan.
lard is the rule. So il is in the United
States. In these countries all money
ia referred to the gold standard. In
Mexico aud Central and South Amer.
lean countries the silver standard gen
orally prevails aud oil money 10 re
ferrcd 10 The silver standard.
The dollar is the measure of the
United States money. and that dollar
is the gold dollar. When \ silver dol.
lar 10 Issued the government Is bound
TO maintain il all at the gold standard
under the law which requires that the
parity OF the two metals shall be pre-
ser-cd' II makes no difference if tho
market value OF the silver dollar be
only 80 cents, the government 10 bound
to make it pass for "A much as q gold
dollar as long MS II can. OF course, il
might be possible, and would DO pos
sible under u free coinage law for the
miUt 10 coin more silver dollars thnn
tho Government could keep up to tho
guaranteed parity. hut NJ mslicrs now
stand the Government Ia ablo to make
good tho parity of the two sorts of
dollars by the gold standard. But II
the Government were 10 become mi
BILE TO keep up ito guarantee OF the sil.
yer dollars then they would sink in
value. and Il would become necessary
10 have two money Standards, one 10
the gold money by tho other
to measure tho silver money by. But
until theL only n standard il Of any
use, and that 10 tho gold etamlxrd.
A ival For the Trolley.