Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1895-08-01

her alIicS II, the T attn s,nion Tudses1 n n
ereater than Er.nce vim Eprl.nd and Ger
many thrown in. On this roint refer 70 an
English authority Mr. MuIhau in the North
American Review Of June 1895 uares e4s-on
after tabulasing the productive pover OF the
United States. Great Britain. Germany
France, Austria Italy and SPAIN says:
Here we see that the United States possesses
almost as much enerrv as Great Britain Ger
MANY and France eoileetfvolv ana that the
ratio falling To eaeh Amer5cer - y,rre t,,.n
what two Freuchmen or German have nj their
disposal
England possesses scarcely more than half
OF the wealth we possess Her uRO{2uctfye
power Is nothing compared to ours and ret It
Is insisted that this great nation must wait the
restoration Of silver until England takes the
lead.
The great benefit that We contend for BIZ
metalliSm Is that when the mints arc opcn to
the coinage Of both metals the people have the
right to choose between the two; and should
one or the other, for any cause, become the
most abundant or cheaper metal they have the
right to use the cheaper metal This right VIII
make a demand for what. at the time being,
NAV be called the most abundant cheaper
metal. This demand itself win have the effect
OF maintaining its value and supporting its
parity. VIII Mr. Carlisle or Mr. Sherman. or
any of the sing1e-goad advocates At this time.
please explain to rs why the laws permitting
the free coinage OF silver in 1873 were repealed:
They contend the law was repealed because
they were not coming silver. That is not
fact. Silver was coming to our mints to be
coined into standard silver dollars up to the
very day of its demonstration in 1873 In 1870
we coined 5sS 800 of full legal-tender silver dol
iags: in 1871 we coined So 20 standard silver
dollars: in 1872 we coined .9d standard sill
yer dollars; in the months Of January and Feb
ruary, 1873. we coined 977 $50 standard silver
dollars. Our silver was demonetized ON ths
18th day of February, 1873 and during that
month, and at the time it was demonetized. it
was shown that we were coming standard sill
yer dollars. Certainly, II the law itself au-
thorizing the free coinage of silver was not
operative it was harmless IT, on the contrary,
it was operative. and silver. as shown By the
record. was coming to our mints for coinage.
the purpose OF the repeal of the law could only
have been to restrict our money supply to the
single gold standard
Mr.. Carlisle in his speeches has laid down
the broad proposition that the free coinage OF
silver would give us q dollar worth only fifty
the restoration of silver would cause a con-
traction of currency and fall In prices If there
should be a fall in prices it would buy more
than it now buys. II he would explain how a
ffty-cent dollar can buv more than a 1OO-cent
dollar he will make himself better understood
The idea of cheap money and falling prices
are antagonistic The two can not coextst
Mr. Carlisle argues that the effect OF free COIN
age would cause the export of our gold to for
eiyn countries Taking this argument as true
a
Gent supply of other money to take the place
of the gold so exported for the simple reason
that gold would be worth more here than
abroad But what would be the effect Of send
inc onr oo,d ab-oaas II would 90 into the sola
STANDARD countries england Cermarv ana
E,..nca. - 1ro,la swell the yyo,,,noa ~ yoonor
in these countries to the amonnt Of gold or
norted The wheat growers the cotton GROW
ers the nrodueers of food and textiles exnort
tho;r c,r,luS IN .baSa countries and ~ CIV
ume OF money of these countries IL Womb snro.
nortionate,v raise prices in those countries
and esnecial,v the nrices of those things We
eYnort and sell to them for gold Tn that event
tha ,.-,nor Tho manufacturers and &hoso vho
nroduce articles for exnort1 would oct nossih,v
x or IN per cent more gold for their commo-
dies than thew receive now and this would
necessarily raise prices at home
Another Of his arguments is that we have not
demonetized silver. that We have more silver
in c;rculation as money now than We have ever
had before: that we had coined but a small
quantity of silver standard dollars prior to
1873 There is no one who knows better than
Mr.. Carlisle himself that when we give free
coinage to silver bullion at the mfnts the bull
lion itself is money because the holder of 1t at
any time has the right to convert it into money
at the mint In other words. the metal in q
dollar and the same amount OF bullion uncotned
would be OF the same value. Ia All PROBABILITY,
had we continued the free coinage OF silver. We
would never nave coined one-iourtn the amount
OF silver that mas oeen purchased and coined
on government account under the gold stand
ard. for the bullion itself would have gone into
commerce.
HAD MT carlisle treated SILVER as money on
an equaiity with goio, redeemed treasury notes
ana greenpacks IN SILVER as wen as goiu, As ne
nao the la"Iui right 10 40. ne "ouia never
nave oeeh at Tue mercy Vi Inc nosnscnHos OF
England and the beimonts and Morgans OF
.hls country IN the SAFE Q. oonas. lndeed;
tnere woutu nave oeeh no necessi.y Ior oono
safes 10. tne purpose Vi procuring coinS io1
Presumption pu1poses
Il 'he anouns VI reuenp.ion money ~ nm
.'eo anu soh.facLeu W soiu oniy' creoiI must
De united anu cont1acteo corresponolngiy.
eHort on the part OF the people to extend
credlt TO take It's piace-to go into debt
which hnaIly proves disastrous to them.
MI carlisle insists that the restoration OF
silver would nave the eject OF alarming the
peoples that deposltors would Immediately
make runs upon the banks; that creditors
would lmmed1ateiy demand payment, and
debtors would be crushed. This same predic-
ton was made in 1873, when the silver bui was
passed. The predictions, however, were not
fulfilled. but just the contrary. There was
perceptlble revival OF business in the country
following the restoration of silver coinage.
II it was claimed that six months hence the
minis of the government would be open to the
free and unlimited coinage of silver everybody
would understand that prices for propertv
would increase in value indeed. this is prac-
tically admitted by Mr.. Carlisle as being the
result but he insists that it would not be the
immediate result. II it would be the final re-
suit it would necessarily be the immediate re.
suit, for the simple reason that the people un-
derstand, as Mr.. Carlisle does. that it would be
the final result. and they would seek to take
ADVANTAGES of IT