People's party paper. [volume] (Atlanta, Ga.) 1891-1898, 1896-07-10

NONAWJ WOAV w @ 1AOO-oAANOA O@pAo
there would be an immediate con-
traction OF The currency; 100000,
900 in gold would vanish and ter
rife fall in prices would follow the
withdrawal of this gold from circu-
latioD. But he admitted that this
would be followed eventually by a
rise Of prices to higher level than
the present when money became
abundant.
"Now, if people know that prices
are going to rise in the end they will
discount the immediate effect of
free-silver coinage at 16 to l, and
prices will not fall very much at the
beginning. The moment we authorize
that coinage value of every ounce of
silver in the world will be fixed.
WE WILL FIX THE PRICE OF SILVER
"The fact that we will coin all
the silver brought to our minis, with
out limit aud without regard to the
market value of the metal, will i'm
mediately fix the price of all silver
bullion in China or Australia, as we'll
as in London or New York.
"The suggestion that Germans or
Frenchmen or Englishmen will send
their silver here simply to have it
coined into American dollars is alb
surd. They will not send their
coined silver, for the stamp already
upon it makes it equal to gold in
their own countries, and they will
not send their silver bullion, for the
reason that they can sell it just as
well in Europe at the market price
fixed by the American mints. Sill
yer bullion would be used as money
in comm cree just as gold is used
now.
FRANCE MADE THE PRICE.
''The British royal commission of
1888, which was appointed to in
quire into the recent changes in the
the relative value of the precious
metals, reported that the fixed rea-
ton between silver and gold was
due to the the bimetallic law of the
Latin Union. So long as the minis
of France were open to the unlimit-
ed coinage of silver and gold at a
ratio of 154 to l, that was the low.
est selling price Of silver in the mar
/ ket of the word. A man in any
other country would not part with
his silver at 10 yer price than he
could get for it at the France minis
But when French stopped coming
silver, that is to say, demonetized it,
the relative value dropped.
$50 I say that if we open our
mints to the free coinage of silver,
declaring to all the world that we
will accept sixteen ounces of silver
or one ounce Of gold at exactly the
same coinage value, no man, wheF-
ever he may be, will part with silver
for less than he can get for it in the
United States. He would be fool
to value the metal at less than the
United States mint values it. The
market value of silver and
gold will be thus firmly established.
"If German should send silver
here to to be coined into American
dollars, he would certainly have no
reason to take the money back to
Germany. Instead, he would take
back products of American toll
wheat, corn and machinery-and
sell them to his own people in COM
petition with their labor.
"That is all there is to this talk
about America becoming dump
ingground for the silver of Europe.
WOULD DOUBLE OUR FOREIGN MAR
"Ths effect of an inflow of silver
from abroad would be to double the
foreign market for our goods, and
give us sach a psgiod of prosperity
as we have never known before.
The whole productive energy of the
nation would be employed. Wages
would increase. The only refuge
for Europe would be bimetallism.
"Silver is now worth about 60
cents an ounce. The silver bullion
in a dollar is worth about Sd cents.
Free silver coinage would raise the
price of silver to 129 cents an ounce,
and the silver in an American dol