Smyrna times., 1895-07-24
Correspondence to The Times.
Views on the Money Question
MR.. EDITOR

| N"S VA sA0 mOuey question.
MR.. EDITOR:
You are sound on the money oues-
tlon, and for that reason l propose to
write some reflections, on that subject
as klnd OF endorsement of the sound
and consistent views you are maintain
ing. The currency is a question in
which we all have an interest. so united
and blended that the policy that ia
right and best for one is right and hest
for all. We should investipate tho
SUBJECT and ascertain what that nolicv
Is, ana then all work together to estab.
lish and maintain it.
Free Coinage" is pretty phrase;
why object to thatP One big objection
TO 1t, Is that as it is used by the silver
men, it Is deceptive. 1t is not simply
iree coinage of silver that they wanf
coming the silver into dollars does NOT
add TO Its value. 1t is not worth a cent
more in the markets of the world
coined than it is as bullion. Let them
make the law to require a dollars
worth of silver in a dollar, and that
would at once end the struggle. The
silver men do not want that; as there
would be no speculation in il Tho
markets of the world are open to them
all the time, aud whatever silver is
worth they can always get for If
what they want is for the government
TO allow them to coin fifty or fiftv-five
cents worth of silver into the form oF
dollars, and stamp them as dollars.
and compel the people to take them
Inc eiiorts OF such legislation making
uepIeciateu inferior money legal
tenuer 10 pay OFT obligations must
necessary be so disastrous, and so nm
seCtle values, and so ruin all classes of
creditors that certainly no one excent
the owners of silver, or dishonest
debtors could possibly be in favor of r.
II is not in the power of legislation
TO hx or change values. The silver
men persuaded themselves that nv |
what was called the Sherman Act-tbe |
purchase OF so many ounces annually |
Dy the goVernment-would advance |
ana keep up the market price of silver.
when we all know that the market
value decreased all the time.
PEOPLE do not learn ANYTHING onlv
by experience. The experience of ths
period of the old Revolutionary War
was sufficient for that generation. The
trainers OF the Constitution evidentIv
intended to protect the people at oncs
and forever from this mischievous Ieooi
tender legislation. That generation
had all passed away and so in our iata
war we had another surfeit of leSaI
lender legislation. People who b.d
oaned money, gold, or its eouivaIent
ma supposed they were protected NV
MS government, found tbemseIves
'uddenly confronted by a law comnsI
ing them to either take paper monsv
worth forty cents or less to the doIlay'
y else forfeit the whole oblioation
Jaws Of this kind take from ops "nd
.lve to another; and under no circnm.
tances is such legislation env advan.
age 70 the government.
u has been claimed by some that
llyeF mas been demonetized. Even
gltors whom / presume know better
lalm that we are thus restricted. and
,at II silver was restored to its former
lace, we should have vast addition
our ,aresent amount of currency: and
lat Wfestriction is the cause Of All
l',... e u'-', -. ,'~1 IN a. .se country has en-
~ 'ppose 1t pos
nposed upon ]