The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-12-14
THE FIFTY CENT DOLLAR.

1t seems strange to people who I'M
derstand the simple truth in reference
to the difference in the market price
and coin value of silver, that intelli-
gent men who are sound on ordinary
business affairs, will talk about a
fifty cent dollar" a dishonest dol
lar" and advocate what they call
sound money because such money,
that is gold coin, is worth its face
value as metal.
1t is true that the idea of a coin
passing for dollar which contains sill
yer to the bullion value Of only about
half that sum, does appear obnoxious
to Justice and financial honesty. 1t
forms the staple argument Of gold mo-
nometallists and appears in all their
pamphlets and speeches and goldite
sophistries.
But when the fact is made clear that
the cause of this condition Of silver is
its decentralization by law, and that
the removal Of the cause would cure
the effect-a very simple matter that
is almost self-evident-the wonder is
that sincere people will use the goldite
argument and continually talk of dol
lars that are worth only half their
face value.
When silver was freely coined the
same as gold at the United States
minis, every silver dollar was worth
as much in the market as metal as the
value stamped upon it as money. When
y
metal value declined, because the de-
mand formerly existing ceased while
the supply increased, and on the prin-
ciple Of a commercial law it's market
value deprecated, that value being
measured in gold. Restore the demand
for silver to be coined without limit
except that Of the supply, and the
metal would naturally come up to it's
coin value as bullion.
Suppose it was gold instead of silver
that was dropped from the coinage.
Would gold continue to be worth as
much in the market as it is now?
Would not the same rule work as to
that metal as it has worked in the
case of silver? Gold coins are worth
their face value as metal. because
owners of gold bullion can take it to
the minis and receive it's coin value.
Serve silver the same and the effect
would be the same. There would then
be no fifty cent dollars" or dishonest
dollars" and silver would be Just as
Sound money" as gold.
Silver is as naturally a money metal
as gold is, and is needed as much in
the business affairs of men and ma
tons. It is the poor mans money
metal because it is coined into smaller
denominations than gold is. Every
dollar Of silver in circulation in this
country is worth a dollar as money,
because it is legal tender to that
amount and gold and silver coins are
interchangeable. But there is not suf-
ficient real money in use for the needs
of the country. though no doubt there
is plenty for the purposes of the
creditor class and all who profit by the
scarcity Of cash.
The advocates of free silver coinage
as well as free gold coinage do not
argue from any selfish standpoint. It
is not the special benefit Of the silver
producers that is held in view. 1t is
the national welfare. 1t is the interest
of the entire people of the country
that is desired. The good that would
come to the silver regions is nothing
against it, but that is not the motive
of those who demand the restoration
Of silver to its rightful place as
money metal
These are well worn and simple
truths, but they have to be repeated
because of the Ignorance and deceit in
reference to them. Those who know
no better echo the fallacies of those
who do understand, but who think it
in their own interest to decry silver
and exalt gold. The fifty cent dol
lar cry is childish and weak, and its
continual utterance is evidence of the
feebleness of the cause that keeps I'D
its miserable iteration.