The climax. [volume] (Richmond, Madison County, Ky.) 1887-1897, 1896-10-21
HIT IT SQuARELY.
The Argument Made by O'Brien J. At
kinson, of Port Huron Mich

gold man from Toledo to OBrien ].
Atkinson. The writer, Edgar II. Bren-
nan. has since changed his mind, and is
now for silver:
FROM MR. BRENNANS LETTER.
Indeed. In my humble judgment, I an
radically in opposition 10 your views. be-
lieving not only IN money. so-caIled, but
In an out-and-out single standard ! have
read and still continue to read and listen
TO both sides, but under II all / have yet
to know Of a single instance in our HIS
tory when. under free coinage of both gold
and silver, both metals continued to circu-
late together, after a difference developed
of even one per cent in the value OF metal
contained in coins of equal denominations,
and in the light OF this past experience I
see no hope of bimetsllism in the future.
Further. believing thus, l cannot see why,
under free and unlimited coinage of sill
yer at Its present, or even much great
er bullion value. We would not be brought
to silver monometallism, the result OF
which, at sixteen to one, would be MOTH
Ing more nor less than most terribly dis
torted condition of imitation, a condition
which ! do not think this country needs
nor should be compelled to endure
MR. ATKINSON'S LETTER
Port Huron. Mich. Sept. s. 1s96.-Mr. Ed
gar Brennan, Toledo. Only Dear Sir:
1 believe every word you say in your let
ter OF the 7th inst, comes from the heart
OF friend whose head Is all wrong on the
results of free silver.
There are many ways OF studying this
question and most of them are misIead-
ing.
! will suggest a course for you:
l. Give me the definition of the word
dollar" prior to 1873 and what were its
equivalents IN coln-in other words, how
much metal OF gold or silver would satisfy
the definition?
2. Give me the definition of the word
dollar" since 1873, and after you have
written out the two definitions hang them
up on your wall in a good light, where YOU
can see how one OF them has been shriveled
and squeezed so that its meaning Is entire
~ changed.
Nov consider that the bonds OF this coun-
try are al payable in dollars of the for
mer definition. That these bonds were
originally purchas1 4 with a deprecated
paper currency for about S35 in gold for
each 500 bond. That tha bonds were not
due in 1870 when the "refdndIng act" took
place. and there was no occasion for that
refunding act except to serve the money
masters of this contInent-bonds were Is
sued from the year 1861 to 1865 and were nor.
due until 1855 and 1895. being 5-20s and
7-30's.
Tell yourself. and II possible. tell that
bright boy, with whom you are blessed,
why IT is that the government Cancelled
obligations which were payable in lawful
money" and which cost the holders only
IS cents on the dollar, and which had
10 or IL years yet to run before maturity
and why It took up those obligations and
Issued new ones payable IN COIN" thus
losing the option which was so important
and so valuable to the people.
II you cannot go any further. just figure
how much that change cost, and tell me
# you would do II as a business man and
still retain your own self-respect
Let US remember then. that those who
purchased the bonds after the resumption
act of 1870 although such bonds were pay
able in coin), purchased them with paper
which was not worth coin and probably
not worth so per cent of the coin, and let
US remember that all those bonds have
printed on their face a stipulation. This
bond is payable In coin Of the standard,
July II. 1870
Take down your dictionary or any court
report, especially Judge Cooley in the Thir-
teenth Michigan, 420. where you will find
that the word coin" always meant gold
and silver. You will also find all the au-
thorities collected by your own great SEN
ator Matthews In his speech IN congress,
January Is. 1873. And after you have de-
TdNGu on THIS lued tel yourself what
justice there is in changing the definition
so that the word 'coln" shall only mean
gold, especially when 1t is so costly to the
American people
Have you read Towne's speech and
studied the tables there given? Have you
read the Stanley Matthews resolution, Jan
uary 2S, 1873. declaring that silver sixteen
to one is an honest money with which to
pay our bonds?
house of representatives quoted by him
to the same effect7 1t Is only one of the
various resolutions passed by different leg
fslahve bodies all over the country. and I
hope you have noted the fact that McKin-
ley voted for the Matthews resolution de-
craling that to be honest which he now
says is dishonest.
Have you recalled the fact that the coin
age of sixteen to one was contained in an
act signed by George Washington. and that
II never was questioned until 1873. and that
values did not depart during all the CEN
turtles from the discovery OF America to the
latter year? / hope you have reflected on
all these things because you are pretty
broad between the eyes and unless you
have considered these features of the situa-
ton you may be doing yourself an injustice.
Now. my friend Brennan. / feel that
would he dead sure of your vote on per-
sonal grounds II you were in this district.
but | want you to vote and work for the
silver standard IN Toledo. You are one OF
the kernels of corn that is being ground out
by the mill stone OF the gold standard. No
man in America Is q better living victim OF
that standard than your energetic and in
self. 1t has eaten like a cancer
into your substance, and II II did not exist.
you could build a dozen Lexington rail-
roads without asking the aid OF any stupid
committee or OF any syndicate Of sharp
nosed cashiers.
] will send you Coins Financial School,
which l presume you have read. but
want you to read Il again. and as the gold
standard paraylzes all industry. have no
doubt you will have plenty of time to read
II. But / want your voice to be where your
heart Is, on the side of America as against
England and the English system Of finance,
which Is nourishment for England but
poison for America
Would you believe the director of the
mint If his figures demonstrate the fact
000. 600 of silver every year at 60 cents an
ounce for which the European govern
ments receive s1-2O and sl.2s an ounce by
coming 1t. and that this is a loss to our
miners, is a loss to our people and a loss to
our balance OF trader
Have you reflected that In 1895 congress
refused TO take out the word coin" from
OuE DOHQos anu lCAASC0 ~ aOd4i0OA NAO
right to pay in silver. even In the face OF
an offer by the Morgan syndicate to pay
SIG. 223. eco more for that issue of bonds at
three per cent. In gold than they would for
the same issue at four per cent. payable
IN coin: and have you reflected that not
that refusal. that one party
is now trying to make the bonds read just
as II they were payable in gold. and that
they are calling US dishonest for contend
ing to the contrary?
You must remember that there Ia not a
public man who has been in public life
10 years. except possibly John Sherman
and Senator Morrill,. who has not advo-
Gated the free coinage of silver at sixteen
to one in some form. and that the repub-
lican platform of !SSS declared In favor OF
silver: that Blaine advo-
Gated its demonstration as forcibly as
Teller ever could.
do not wish TO make this letter too
lengthy so will step. as II Is now quite long
Yours respectfully.
O'BRIEN ]. ATKINSON.