The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1895-06-18

or difference att lches TO both. NJ
denomination OF tle gold coinage q
fhe Uaited States has a bullion valu,
. equal to the legal value thereof. Th
gold dollar IL not what it purports {.
be. The whole series of these gol,
coins is made from bullion only nine
tenths fine. do not go into the rea
SOUS for this--I state Che fact. TIL,
whole OF the gold coinage is tithed-i
Is placed under par bullion value by
the subtraction of one-tenth this IL
why these coins outside of our owr
n country pass only by weight, not by
called alloy. This alloy Is not gold
Nat all; it Ia mixture of copper and
silyer-only one-tenths of silver, nine
2f copper. or course, this alloy re-
duces the commercial value as metal
oT the series OF gold coin. This Is now
here spoken of because OF very curl
ious claim made by the advocates of
gold monometalism, that piece OF
fnoney whose bullion value may be less
than Its legal value is uusound and is
dishonest.
VI is the same with the silver coin
aaeS the dollar and that part called
under l,ar commercially. Like the
cold Coins the alloy Is one-tenth,
wholly Qi copper and besides this the
proportion of grains OF metal used
diminishes with the denomination of
the coins. The half dollar has but
1872 grains, O good deal less than half
the number OF the w}hfele dollar; the
quarter dollar has only nlnety-six
grains; the dime has only tHirty-eight
grains-the holder of ten dimes has
only $50 grains, yet he can geS halves
or quarters for the whole of those almes,
Notwithstanding the commercial price
of the metal in them is very 1ar below
it's lawful value. The nickel passes
metals which compose it 10 not aali
the legal. The cont coiried by the
United States, made of S paris oi
copper and parts in tin and zinc ls
worth as metal commercially not more
than one-third of its Lawful or legal
value, which is the one-hupdYedth part
Of q dollar.
Still we have no other coiA9 han this.
All our balances, when settlS on coin,
are paid in it. The largest. Rayments
are made in the alloyed gold, SSnd the
silver dollar with it's group ofA2ction-
al parts are subsidiary CainagA per-
forms the functions OF money-iaApass'
ed, paid and received as coin oNplti-
uldG6 In CniS an uCXSoo
condition Of business and finance ?N
- According to the test of the enem&s
OF bimetalism that the legal value X
commercial or bullion value of then
metal in it nothing could be moreN
dishonest. According to that test
there Is not, and cannot be, an hon est
dollar OF either silver or gold, nor an
honest part or fraction of the same
as for the nickel it is viler than the
dime, and the honest penny Is banished
forever.
According to this same test and
rule Of coinage there is not an honest
coin in the treasury, there is not a
piece of sound, sale money in the
country. 1 have read the story of
good woman, poor widow, who long
ago cast her mite into the treasury,
and it was said of her that she had
given more than them all. The mite
was the smallest Jewish coin. 1t was
worth in legal value about two mills
of our money. What was the bullion
value OF the morsel of copper out of
which it was made? Not one mill
not half mill-less than this. The
coinage reformer of our day would say
this was dishonest money-unsound.
Why, then, did the celestial benedic
tion rest upon q fraud SO palpable? ?
Nay, but this was lawful coin, having
legal value. 1t was indeed honest
money. The law made IL, she gave it,
and the blessing and the glory of the
mite yet remain.
CONGRESSMAN SIBLEY'S SPEECH.
At the evening session Senator
Stewart of Nevada, was presiding, and
Congressman Joseph @. Sibley, of
Pennsylvania, addressed the cOnven-
tiOn. Mr.. Sibley was greeted with
rounds of applause, and in u two hours
speech aroused his auditors to a high
pitch OF enthusiasm. He made an
earnest appeal for independent politi-
cal action in 1896, and occupied u good
deal of time in illustrating the neces-
sity of breaking away from the old
parties. His auditors were evidently
with him, for every attack upon Sec
retary Carlisle, the President or SEN
ator Sherman was greeted with u noisy
demonstration, and every time he
asked the crowd If they would remain
with their old parties and continue
the domination Of the English money
power, he was greeted with cries of
mo" He paid mis- respects to the
President and Carlisle in very plain
language, calling them traitors" for
theirpart in the conspiracy to demone-
tlZe silver ana faSten upon the cOun-
try the hardship OF gold standard.
All such outbursts as this was greeted
with tumultuous applause. Mr.. Sibley
paid an eloquent tribute to Andrew
jackson, the great Tennesseean, who
achieved fame through his successful
antagonism of the money power, as
we'll as by his military career. He
related the story OF Jackson's refusal,
when captured by the British as u
boy, to black the boots OF an English
officer who struck him with a sword,
leaving scar that he bore until death.
He gave 1t political turn by exclaim-
ing that there were Democrats in Ten
nessee who would black those boots
today and lick the hands that struck
them.
1--WE must win this fight in 1885,"
continued Mr.ESibley, "or we lose il
beyond the lifetime OF my generation
or the one that follows. You cannot
put this fight beyond 1896 and win it,
II the -metallists win, then comes
the retirement Of greenbacks and the
| forging of five hundred fetters on our
industries. There are other great
questions to be considered, but they
are insignificant as compared with
this. II we lose this fight in 1896 two
great conditions are to be feared-re-
pudiation or revolution. One or the