The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1896-07-22
THE COINAGE QUESTION.
When the Free Coinage Of Pig iron
is Secured the Honest Lab0rer
MAY Make a Thousand Dollars a
INV
From the Atlanta Journal.

May make AhOus7hu "
Day.
From the Atlanta Journal.
Alexander P. Hull of Atlanta is a
strong l6 to | man. He does not be-
lieve in halfway measures. The free
coinage of silver idea is too tame fol
him. He is willing to see the silver
ties and 20 them 100 points better
Here is his declaration, proposition
and argument:
Having been deeply impressed by
the arguments of Judge Crisp, Bryan
Stewart, Jones and other silver lead
ers, and especially grieved, shocke d
and Mortified by the awful crime oI
1872 as so luridly depicted daily in
the columns of the Atlanta Constitu.
ton and other silver organs, | have
changed my views on the money ques'
ton, and am ready to maintain the
propositions following in joint debate
or newspaper controversy
II accept the arguments of the al
vocates of silver and agree with theil
remedy as far as it goes. However, II
does not 60 far enough. Let US have
plenty of remedy-in fact, enough tt
make debt and poverty things of the
past, relics of the dark ages. | am in
favor of the free and unlimited coin
age of pig iron at the ratio of l6 to
with gold by the United States alone
independently of all nations, and car
prove by the best authority obtaina
ble that such a policy Oh the part OF
the United States will raise prices,
put plenty of money in circulation,
and give the honest debtor a chance
to pay his debts thereby making the
whole country prosperous.
"Now, in the first place, it may be
urged by some who do not understand
the subject of standard value, that
a free coinage act for iron would no
raise its price to q ratio of 16 to with
gold, TO them reply that 'the STAMP
of this government and the legal ten
der qualities of the iron dollar wOulC
instantly make the bullion value O
pig iron the same as the mint value
For who would part with an ounce o.
this precious metal for anything elst
than the mint value" (Stewart, Jone:
and Bryan.)
"Again it may be urged that oul
mint would be overcrowded with pig
iron. reply that the price of pig iron
having been raised from $3.50 a tor
to 4 ratio of l6 to l with gold the
world over mo one would especially
care to carry it to the mints, since the
mint price could be obtained anywhere
in the open market (Atlanta Consti
tutson.) Next it may be urged that sill
yer and gold would 60 out of circula
ton. I reply, first, This is a mere as
sumption of the tools of the money
power which they cannot verify
tAtlanta Constitution Second, Sup
pose gold and silver do 60 out o
circulation, is there not plenty of pig
iron to take their place and give the
people plenty of money" Bryan.
and, third, such an assumption mike!
the ideas of circulating medium ant
standard of values; gold and silvel
would still be potential money metals
though not in circulation, and woulc
lend their help toward raising price!
and causing general prosperity.
(Crisp.)
"Then, again, it may be urget
against the pig iron standard of value
that wages would not rise in proper
ton to prices. The reply is, Wage.
would be compelled to rise, since NJ
man would be fool enough to work
for 81 a day who could make 81 900 {
day picking up rusty nails and ole
horseshoes and carrying them to the
mint for coinage (Hull.)
"In addition it may be urged by tht
money power, by the Wall street
sharks and the Bond street shylocks
that we could not alone 20 OH pil
iron basis without an internationa
agreement. TO such dastards as dar'
to lay a limit to the power of thu
American people to do what the!
please, independent of all nations,
hurl their cowardice and lack of pa
triotism back in their faces bryan.
"The crime of demonetizing pi!
iron took place about 1000 years ago
when certain 'goldolators' and silver
ites,' in order to increase the purchas
ing power of their ill-gotten wealth
secretly and like thieves in the night
got the demonetiZation act passed re
pealing the good, old free coinage ac
of Lycurgus the friend of our ances
tors daddies.' To-day China is tn
only country on earth honest enougl
to coin iron, and there the happy Ia
borer can carry home tie wages of hi
honest toll in wheelbarrow.' AT
Ianta constitutional
"A ruinous fall in prices followe
the demonetization of iron and ha
continued for upward of 1000 years
I have calculated the losses entaile'
upon the honest people Of this worl
by that ruthless act, but the figure
are SO enormous that fear revolu
tion will ensue if the people learn HOY
greatly they have been robbed. Bu
facts are facts, and the best way t
right wrong is to meet it squarely
That loss is S2l, 900, ,0OO, ,000. 600, 900, ,00O
Coins Financial School.)
''In conclusion, insist that the fire
coinage of pig iron will do everythin
that is claimed for silver and infinitel
more. The people will be rich an
prosperous. The once poor man ca
pay his debts with his old stove
Railroads can declare dividends on oil
rails and worn out rolling stock. Th
small boy can pick up old nails an
horseshoes enough to support his fam
ly. In fine, poverty and debt can n
longer exist"