New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-08-13
THE T4LTE or THE DOLLAR.


The metal in A gold dollar is worth hundred
cents. Hammer it out Of shape or melt 1t and
run it into any other form, and you can still get
hundred cents for it just as easily as before.
But the metal in a IL 10 | silver dollar is worth
only tfty-hree cents. Hammer or melt il into
any other shape and you will be able to get
ffty-threc cents for it. and no more Why?
Because the coin contains only 412l2 grains Of
standard silver. and ll2is grains of standard
silver are worth at current market rates only
about fifty-three cents
Yes" says the free-siIver man; but that IS
"all because of the crime of 1873 If the Gov
"ernment should remonctzc silver and coin It
ION equal terms with gold. then 412la grains of
ut would be worth one hundred cents
Is that So friend Populist? Then if the Gov
eminent should monetize iron, and coin it on the
same terms. would 4l2i2 grains of iron be worth
one hundred cents? If so. the Government ought
to be able to pay off the whole public debt TO
morrow; and every man who owns an old stove
or some WORKOUT hoes and shoves may set mp
as millionaire. If not. why not? If free coin
age would double the value Of one metal. why
not of anotherf
"Becauso" replies the follower of Mr. Bryan.
Iron is not n precious metal and silver is.
"Silver has from time immemorIal been recog-
"nized money metal. The rule applies only
"to the precious metals silver and gold No
'Others are used as money
| There You run counter to the facts of history.
| Many other metals. and other materials than
metal. have been and still are used as money
and as currency. Sparta used iron. Syracuse
and Britain used rim Russia platinum. Burmah
! lead. Carthage leather, China silk, Abyssinia
| salt, Tartary tea, Campeachy ogwood. Mexico
| soap, the African coast cowre shells: and many
nations Of high civilization have thus used cat
| tie. as the words 'pecunary," fee rupee
and "shekel' testify Why demand the re-
monetizatlon of silver any more than of iron. or
| sheep, or oxen! And if monetizaton has such
an effect upon one thing, why not upon others?
! well" he persists, 1.-THE actual value of the
metal in the coin doesn't matter, anyway.
! There isn't cents worth of copper in cent,
land there isn't cents worth Of paper in a
"hundreddollar bill. Yet they pass as full legal
tender SO would the silver dollar, even if It
did contain only about ffty-hree cents worth
''of metal"
| On the contrary, 1t does matter, If the coin be
standard money. and not redeemable in any
thing else. The copper cent is mere 'token
money" 1t is not full legal tender and does not
! enjoy free coinage You cannot make man
accept one hundred copper cents AS payment
OF one dollar You cannot take IS grains of cop
| pcr-the amount in a cent-t0 the mint and get
a cent for it, The paper in a bill is worth moth
| ing The bill derives its value solely from the
| fact that the Government is willing and able
! and indeed. bound to redeem ii on demand in
gold You cannot take n bit Of white paper
| seven inches long and three wide, TO the Treas
ury and get dollar for it. or have ii stamped
zone dollar by the Government. When the
| Government wants to make copper coins it buys
copper at the market price When 1t wants to
make paper money it buys paper at the market
! price SO. when il wants to make silver coins
it buys silver at the market price. And you
| have no more business TO demand that your bit
Of silver. Of 4l213 grains, worth fty-three cents,
be stamped zone dollar than that your slip Of
white paper be thus stamped.
Now do you intend that your IL to silver
, dollar shall he redeemabe, in gold, paper
! money Is, or rredeemable standard money If
the former, you are asking that the Government
shall pay one hundred cents In gold for every
hfiy-three cents worth Of silver offered 10 IT,
| Such an undertaking would drive the richest
| nation In the world To bankruptcy II you don't
| believe II, try the experiment yourself, by pay
| Ing one hundred cents for every hfty three cents
worth Of produce Of any kind your neighbors