Pierre weekly free press. (Pierre, S.D.) 1889-19??, 1895-10-03
GETTING SILVER INTO CIRCULATION.
q Question on This Point Answered; Alsn
One About the Indian Ge.tlenan.

-
o. T., asks us this question:
Granting that the United States have "frca
and unlimited coinage of silver how will
that get more money in circulation? In other
words, suppose India sends $iU0 go 0O0 of silver
bullion here 10 be coined, won't this bullion
be coined into american collars Tree and then
"handed over" to the lnt:ian gentlcmnn? How
will that help the American farmer? Went
This Indian gentleman Ivy gold With LIS
American dollars and then take tho gold out
VI the country?
Idle money, like idlo men, earns
nothing. Under free coinage the owner
Of bullion, either silver or gold, would,
when Lo found tito his advantage, taka
it to tho mint, have it coined and rc-
ceivc back either his bullion coined or
it's equivalent i'll coins. What would he
then do will, it: Hide it III vault? 1t
would purchase for him nothing there.
No. He would invest it III some enter
prise and would do so in the firm conf
denco that i'll tho exercise of ordinary
business prccaution lie would realize u
profit Ga his investment. Why this con-
fidence? Because free coinage would
constantly add to the volume of pri
mary money, thus meeting the increased
demand which comes from year to year
upon the nations stock of money by
reason of tho increase in business conse-
quent upon increase in population, and
thus holding steady the value of tho
dollar instead of permitting il to in
crease from month TO month as it does
now. This constant increase in the
value of thn.dollar produces constant
decline in the value of all other kinds
of property. To illustrate: Suppose to-
day man were to measure the wheat
III his storohouso and find that he had,
according to the measure used, 10000
bushels. Let him then lock the store.
house and not permit amy Wheat TO be
removed therefrom for q year. At the
end of the year let us suppose that he
again measures the wheat i'll tho store
house, and that this time he finds only
5000 bushels Let us further suppose
that he, in his cndcavors to ascer-
tain why he has less wheat now than
he had When he measured it before,
compares tho bushel measure used at
measure which he used at the first meas
nremcnt. and that he finds tho last
bushel measure is one-tcnth larger than
at first, he will have discovered con-
dition of things similar to that which
nowadays exists ut the end of each year
when the business man comes to meas
ure his property and ascertains what
l,A1 n, l,,x
past.
The business man finds that, meas
urod in dollars, he has accomplished
little if anything, and this is SO not be-
cause he has not added to the sum witt,
which he starts, but because tho dollar
the thing with which he measures that
sum at the end of the year-has increased
in its measuring power. His debts have
yemained tho same. Such Il condition of
things deters men from entering new
cnterprises-deters them from putting
money into property, sometimes called
business. The reverse would be true
nnder free coinage OF beth gold and sill
yer. Men would then make profit be-
cause the steadily increasing supply
would prevent the dollar from increas-
ing in its measuring power-in its
yaluc-and this would encourage new
ventures in the development OF the na-
tion's resources, and these ventures
would put money into circulation.
The Indian gentleman spoken Of i'll
tho question would have his bullion
coined into American dollars and have
it handed back to him FREQ OF charge,
But after receiving it back it would be
of no moro valuo to him than before it
was coined, except for the purposes Of
Investment i'll the United States He
would consequently invest it either in
the produce Of tho factory OR the farm,
or i'll some other kind of American
property. This would create demand
ior American products, and who does
not desire such u demandg Free coinage
would bring us tho entire trade Of tho
silver using countries in the world-ai
trade that, without the aid of any gold
sLal,aard nation, would start every mill
in tho country and make every farm
bloom with prosperity.
Yes, the Indian gentleman might buy
lsDM Wfln inc Allerlcan 0Ollar, DuG LING
Wopld-Herald'g interrogator may resi-
assured that the owner OF the gold would
not part with dollar of it unless lie
obtained what he thought it was worth
in American silver dollars. He would
then part with it, and he will do the
very sans thing today under the gold
standard. Free coinage has nothing ia q
do with tho matter at all-Omaha
Warld Herald.
A Chapel ON Mount Blanc.
A chapel measuring 0 by 12 feet viii!
shortly be erected on Mount Blanc, 10,-
a Il