The broad ax., 1896-08-08
To BENEFIT MANKIND.
OPEN THE MINIS TO FREE
AND UNLIMITED COINAGE.
Double the Ameant Of Money I'm oreo'
Iation and Every Avenue of Bssine"
WIN Boon-rhs wan street Espae-
nean Piatforn-

| Bimetallist to explain now tne Sh'ei
would get into circulation II II were
/ coined without limitation. The under
lying thought with those who ask this
| question seems to be that inasmuch as
there II q large amount Of money lying
idle now there is no occasion TO provide
for any more. That idea carried to It's
logical conclusion would also require
the mfnts to be closed to gold, for II Is
q well known fact that but very
small portion Of the gold now in the
country is In actual circulation Hence,
We might inquire, why coin any
moref Nevertheless, a proposition to
stop coming II would bring q storm OF
protest at once.
The fact is that whether q country
has much money or little there Is al
ways some Of it lying idle. In India
and China, where the money In actual
use II very scarce, there are vast sums
boarded away. And, strange as II
may appear at first glance, It is never
theless true, that where the supply OF
money IL insufficient to keep pace with
the wants Of trade the amount unem-
ployed will be larger in proportion
than where the supply Is ample.
A very little intelligent thought will
disclose the reason. When the money
supply is diminishing, either actually
or relatively, 1t means lower prices for
products. Lower prices means smaller
profits. no profits at all, or actual loss.
Hence people having money viii not
invest In productive enterprises. They
will buy gilt edge securities, employ 1t
in purely speculative ventures in stock
exchanges and boards Of trade, or II
conditions become too bad they will
lock II up for safe keeping.
These are the conditions which now
exist in the United States. For many
pears, ever since the decentralization
Of silver In 1873, business has been
done on a falling market and more
and more money has been withdrawn
from actual employment.
Now for the effect of free coinage up
on the circulation.
The first effect Of opening the Amer
AS@A bC " Idl6c inc kOlu
price of silver to s1.29 per ounce.
Leaving out of consideration the ques-
ton Of whether parity would be main
tanned It is perfectly plain that in the
first instance silver would go up to the
mint rate In gold for the simple reason
that no man in his sane mind would
take any less for It. The secondary,
almost coincident effect, would be to
raise the prices Of all those products
such as wheat, cotton and petroleum
that are sold in the European market
1t silver prices. This means a CORE
spending rise in the American market,
to be closely followed, as is always the
case, by a sympathetic rise In the
prices Of other things Of a
similar character and occupying a
field. AS, for example, a
general rise Of wheat would un-
doubtedly be accompanied by a rise of
corn, rye, barley, buckwheat, etc. So
the price Of cotton has its effect upon
the price OF wool II the price Of cot |
ton goods takes a sharp and long con-
dnued decline It is inevitable that |
wooden goods will follow more or less
closely, because cotton goods and |
wooden goods In a measure compete |
with each other. So do a great many
'ther things, and subject, Of course, to
influences, there is q
general tendency Of all prices to
Use and fall together. So the
mere rise in the market price of
Iilver bullion consequent upon the
opening Of the American mint would
yive a general upward movement
o prices and especially to the prices Of
'ur great agricultural staples.
This would necessarily bring out for
Investment large sums of money now
ying idle, for investors always seek a
Using market. Again, the silver de-
'osited at the mints would be struck
INTO coin and the coin handed to the
'wner, who In turn would pay It out to
theirs with whom he has business.
thus II would find its way into general
circulation, swell the volume Of money,
prices and business at the
anne time. There is never any trou-
lie about getting money into circula-
lon when business conditions are
ealthful, and an abundant supply Of
God money is always productive Of
conditions
One thing should be entirely clear.
silver cannot be coined II Is utterly
npossible for It to get into circulation.
It can be coined there Is certainly a
nance for It to find its way into the
hannels Of trade. 1t us give II that ,
nance. II 1t do not circulate 1t will
least do nc harm, while II II do cir
1lste II win be productive Of great
ood.
1t IL strange what q prominent place
,e negative has In the goldite's discus
on Of the money question. Goldy
leets almost every argument In favor
the coinage Of silver either by a }.
rade Of abuse or by q conjugation Of (,
le verb CAN'T
First person I can't
Second person you can't
Third person he, she OF II can't
Plur0