Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-07-20
Free silver Coinage, Ute.
HoSoLuLu, Hawaii, ..-
IHIHs 1891
Edtior Deseret Aelon

HoSoLULu, Hawaii, loo
July /, 1925.
Editor Deserst AegE
BY your Kind permission | VIII puf'
sus tbe above subject a lit,ls iufthcr.
II the government sboulI adopt
free and unlimited coinage Of silver a.
settled policy, then tnEo charge Oh
tho coin and issut certificates Tor H.
tho oate Of IL muat Ia ne course OF
tin,o become n great burden 70 the
Amerionp people, not only from the
e,psnsp Of coming, but also ilr COM
structIug buildings Tor storing Ahch
vast ncruMu iations, aud the stotins
md guarding OF II.
The government cannot use II, II mol
compensated for lie coinage and care,
and tue moial will be o. useless ~ II
was In Ito native bed, loss 10 the
country. Yes, 1t is partial security
for thu certificate, but Il paper money
q, wnutpu II could be ifsuCd Oy TIE
government and secured by morlgngr
on real estate, tlaie b0nGs " ny gov
eminent bonds as national bluh hults
are now secured aDI at its iu.l lace
value. II this money was properly
iHsfied the government would ru2p a
revenue for II, and with no iinh 90
burden AZ would be the c7Er
10 coming anu cttug lot Tue
coin, II a law should DO enacted loi
free coinage, silver bullion may nDl
rise 10 value, % some believe, as WIN
new mines opening ana Oh o o. bulhf
worked, who shall say mat silNcI may
not become ~ vniulrs' Ia Amof &C. W.
II was In Jerusalem In lhs dhyr ol
Solomon. "Aud tue Eing inado slV't
to be In jerusalem ~ stones
u (silveTl was soothing accounted .. l'
tho dsys Of Solomon" There, ai'yt'
was 80 undesirable aud abundant solo
mon would not have even his drink
Ing vessels mAuu VI It,
Silver depforlatud IN value during
the Ifo Of the Sherman silver law, not
outstanding fluy.iOur million dollars
was yeatly coined under II. The
coiplng anu stOring It In vsulls may
for n time increase ila value, but ~
must eventually continue ia down
grade, ns the storing such great bulks
ne must accumulate under q FREQ nn
unlimited coinage law, In decade or
no must act ns n menace TO tho silver
market OF the world, AZ, like the Johns.
tow n reservoir, Its contents must con.
tinuo 10 increase and the barrier that
holds II IN place TO weaken more and
more. and burst II must, sooner or later
and ptacipitnls it. contents upon tho
silver market OF the weTld. This be-
irg nlwnya fenred, will act as n wet
blanket TO any rise In the price OF
silver.
The throwing upon the market o.
SO tons Of silver bullion by GsTmany
In l87l-2 ana other causes AT woik
about that time, knocked tbs bolton.
out Of the silver market, and II hns
been on tho down grade ever siDce.
Notwithstanding the Uuited States
ooined 63s million dOllate during the
time and the world NJ large very much
more.
The %, 875 tons OF silver thrown upon
the market by Germany, was only a
email washout, ia comparison 70 the
great flOOu that Will be prooipliated
upOn the market upon tho bufsiing OF
our silver reservoir, after few decades
of storing under n free anu unlimited
coiuspe act In the United States. A
large amount OF silver, coincd aud uB-
coined, IL already on hand. There np.
pe n 10 DO more silver produced than
10 wanted for use as money, which In
one reason why all should not be
coined. Tho Justice Of = law may DO
queuoned that requires silver TO be
coined aud cared for nj public expense,
seeing nothiug woulj be produced by
IL but private money and miuionaifes.
Ifitisrght for tho government 10
make every sixty cents worth Of silver
into legal tender dollar TOT private
gain, II would be alao right for the gov
eminent 10 make every hushrl Of
wheat worth one dollar although now
worth only sixty cents.
Perhaps 1 have said enough upon
this other view Of tho subject under
consideration, but will aud that the
free and unlimited coinage Of silver,
the further istue OF national bank notes
or any other addition 10 private money
viii never settle the money quuaiiOn,
The Iooplu have been forced 10 uso
eEolusiyely private money siucr the
fifst formation Of our government, aud
IN consequences have hsen cutHsd with
money hurTlSs or money psnits, ON an
average VI shout ten years during that
whole period, and the logical con.
Clusion IL, II there 10 no change Tor the
better In our monetary system, there
will DO no improvement durlng the
next hundred yCars--a thing much to
be- regretted.
will further add; The money queF.
ton never can be- settled until private
money In supplemented by public
money. In ny next viii enuoAyOi
to show tho difference between them.
JNO. NJ. HuRNEH,