Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1896-09-24
Old Citizen on Money Standards.

Old Citizen on Money Standards.
Editor Tribupc There are some
of our citizens who have not studied
our monetary system, and fail to un-
derstand the difference between the
gold standard dollar and the silver
standard dollar | will try to ex-
plain the same in simple manner
as follows: First, ! will say what
everybody knows that under the
present gold standard each dollar
whether il be gold, silver or paper,
has the same purchasing power.
That is II silver or paper dollar will
buy Just as much as a gold dollar.
Why? Because the government
guarantees that each Of its dollars
shall be kept at par with gold.
Hence the term gold standard. Un-
der Free coinage the whole system
will be changed, How? Taking
gold MS the worlds standard Of value,
silver tluctuates in price from week
to week in the markets, just as Cop-
per, lead, zine or any metal Hence
il Is Of uncertain value. The present
value Of the silver contained in n
silver dollar IL about 53 cents.
Under free coinage 1t is proposed to
make those silver dollars legal
tender for all business transactions
In the United States by act Of con-
gress, hence the term silver standard.
Each Of those silver dollars and all
the money IN circulation would
have the same purchasing
value, would be called dollars, and
used IN all business transactions as
such. The gold dollar would he worth
on our lew silver basis, as much
more than a legal tender dollar as
the silver III the dollar would he
worth less than the gold in a gold
dollar in the markets Of tho world.
To make Il more plain, | Will state
that at the present. value Of silver
the gold dollar viii be worth about
Sl90 and Will iluctuate according 10
the market price on silver. For as
gold Is the worlds standard of value,
our money viii be worth more or less
as the silver market may rise or fall
in gold value. And let me say that
gold has been IN the past, is ut pres
ent, and will in the future, ID the
worlds standard, and no power or
party under heaven can change It's
nature or its value. Il must he very
evident to all observers that with
such change in the money stand
ard the value 81 all goods will adj
vance just III proportion rs tho APP
parent advance in the gold dollar.
10 illustrate the value of tho silver
standard dollar in a more practical
way, | will suppose that some man
working by the day or the month
shall at tho end Of tho mo-th gpt his
pay for labor performed and has res
ceived lust NJ many paper on silver
dollars under the gold standard. The
dollars appear 70 he the same and la
fact are identially the same iii prom
Use and appearance, but the guarau-
tee Of the government 70 Keep thom
at par with gold has been withdrawn
consequently they are worth sceord-
ing 90 tile market for silver We
will suppose further that this mau
goes into the market 10 invest his
months earnings in buying neceS.
saries for Ms family, lie finds thdl
the sack If ilour that cost him SlM
unaer thegold standard MilIuoN cosi
him Sl,90under the silver standard
tfor that Il theyalue or gold nj SILVER
or legal tender money the ~ HIS q
sugar liz bought FOR SlQu Miti noN
cost him $3.50. the lolhs 81 meat thai
Tie bought flor Sl,uo Will noN cost hin
1890, the pair OF shoes he bought fol
$500 will now cost him 500 the -ui
OF clothes that cost him SlpwIll uoa
cost him him Sia, the shifting tha
he bought for lef per ward will uov
cost him In per yard, and every
thing else III same proportion
OLD CITIZEN.
TnE largest stock Of school supple
in Iowa county IL ]. 4. Hanscon !