The Middleburgh post. [volume] (Middleburgh, Snyder Co., Pa.) 1883-1916, 1895-06-27
VALID OBJECTIONS
TO FREE COINAGE OF SILVER, AS
URGED BY THE sILvERlTEs.

81 am opposed" says ex-Congress.
man John Dewitt Warner, "to free
coinage OF silver, as now urged by its
advocates: First, because il is only n
cloak, and very thin one at that, for
what they really want-forced cur.
rency of deprecated silver.
III am one OF those who believe that
the main function of Government is TO
protect each man in his freedom to do
what he pleases, SO far as consistent
with protecting every other man in
the same right and am therefore op.
posed to all arbitrary interference by
Government with the business c)n-
Germs of its citizens, and especially
any Intervention by 1t in their con.
tracts which shall assist any man TO
break, directly or indirectly, the con.
tracts he has made.
when man buys n coat for ten
dollars. the one who sells il 10 him
buys ten dollars for coat. am on.
posed to Government interference in
order to induce man to accept diff.
ierent kind of dollar from that which
he would naturally choose, or TO oh.
struct his getting whatever sort of
dollar he prefers; and when il comes
to proposing TO compel him TO accent
any kind OF dollars for which he has
not contracted, it is no more defensi.
ble than IL would be TO compel man
to accept coat different from that
which he had bought.
Again, am opposed to so.calel
free coinage is, forced chr.
rency-of silver for the very reason
Tor which 1t is pressed by its advo-
Gates, namely, that it would raise.
and probably would double, the nom.
inal price of all kinds of property, es-
pecially the commodities in general
use, prices of which are adjusted from
day to day. This means that goods or
services, the prices of which are con.
servative, will be for q considerable
time ut disadvantage in comparison
with those which are promptly
changed. Generally speaking, whole
sale prices of food and foods fluctuate
daily; retail prices weekly or month
ly; while rates of wages-the price of
the one thing the wage.earner has to
sell-change only at comparatively
long Intervals, once or twice u year or
once in one or two years.
"The result. therefore, of depre.
citation of our currency, which
would put up prices of goods in
use, would be almost imme.
.iiatelv to reduce by one.half the
power OF, the wages re.
ceived by labor, and leave to labor IA
long period of years of agitation and |
organization before the rate of wages |
would be correspondingly increased. |
II Is hard to imagine worse disaster |
.han one which, to start with, practi.
'ally reduces the wages OF labor by |
and then ensures demorali. |
,ation for years to come in tho rela-
ions between capital aud labor, pend
ng the readiustment thus necessltated.
Another reason why | am opposed,
lot merely to the socalle5 free coin
'ge OF silver, but to the agitation of
t, is its effect upon the development
,t our country. Under normal con-
iitions the capital of all civilized
countries is at the disposal of any one
me who wants to develop either of
hem, ut rate of interest com
nensurate with the risk the lend.
n assumes that there is of his
ure and adequate repayment. II We
nave abundant capital at low interest
men can afford to improve
zeal estate, build factories, lay out
lew railroads and enter upon every
iind of undertaking which builds up
he country and keeps labor we'll en-
'loyed at high wages.
'lf the rate of interest is high
md money hard to get fewer
AN afford to undertake plans
which involve the borrowing of
money, and the result is n stagnation
II enterprise, n paralysis in the de-
'eiopment OF the country, and unem.
'loyed labor, with its pitiful and dan
,erous consequences. In proportion
3 any one who has money to lend
ears that he may get back poorer
money than that which he pays out,
e will he conservative in lending it,
hu Will eitner cnarRe very high in
crest or else will keep it idle in banks
nd trust companies SO that he can
ransfer it instanter in advance of any
depreciation.
at is the fear of depreciation that
eeps SO much money idle in the coun-
ry, and it is one of the main causes for
he very high rate of interest charged
y those who lend money at all in that
art of the country where people be-
eve that there is real probability
I our coming To "A silver basis. One
ear of the prosperity that would
ONE to us all were the capitalists OF
his country and OF the world at large
bsolutely certain that our currency
'ould never be deprecated would tie
'orth ten-fold more to our people
han all the benefits which even in
heir dreams the free silver advocates
nagine.
"Again. l am one of those who do .
Ot believe in now wava IN nay old | :