Middlebury register. (Middlebury, Vt.) 1886-1937, 1896-04-24

miners never propose to take and keep silver
dollars for their bnllon. With all the
efforts of the United States treasury to put
out silver dollars, it is possible only to keep in
circulation certain amount Of them which
cannot be largely increased"
This opens another subject-the dcsirab-
| ty of the United States government giving
certificates for coin, and especially for silver
coin. There is, of course, no necessity for its
doing this If done, it is done for supposed
accommodation to the people We believe the
lowest note issued by the bank of England is
a five pound note and that this is the smallest
paper money that circulates in the United
Kingdom. 1t is at least very questionable
whether the same custom would not be best
with US, and a law to this effect has been fire.
quently preached and is liable at any time to
be enacted; the object being to force the
circulation of metallic money. But Of course
this makes no difference whatever to the
miner in his deal with the government, under
the supposed free coinage bill, or any other
That is, it makes no difference as to the value
OF his money, and could hardly make any
difference as to the amount Of silver which he
would bring to he coined
You refer to the misuse and abuse Of what is
known as the parity clause Of the act Of 1890;
but in all the dishonesty of the government odic-
ials IN carrying out this act who. subservient to
the wishes Of their rulers, the money power
have surrendered an option to pay in either
coin, intrustcd to them for the benefit Of the
people, to the holders Of the obligations; in spite
we say Of this betrayal of a trust against
every principle Of law or honor, and
which should have been followed by i'm
parchment and would have been if this
treachery to the people had not spread into the
house OF representatives, YOU are mistaken in
surprising thatthc government has dared as yet
to carry this nfamy SO far as to undertake to re-
deem silver certificates in gold; these call for
silver and are redeemed IN silver. We arc
not, however, at all surprised at such a mis-
take. For as the government has persistently
been a law unto itself in dealing with these
laws Of finance, nulliNing such parts Of
them as it chose it j., not at all strange that
YOU should have supposed that it had viola
ted the law that made silver certificates re-
dccmabe in silver, by redecming them in gold.
1t doubtless would do this did it think it neces-
sary to the preservation Of the gold standard.
1t unqucstionably would if it dared; but there
are limits in the violation of law, that no adj
minislraton could pass, and these limits might
coincide with those they dare not pass You are
also mistaken in supposing these certificates
to be legal tender. Then, again, certificate
can hardly be called promise to pay. 1t is
a promise to deliver to its owner upon the
presentation of the certificate certain coin
that he has deposited This and nothing
more
All those in this country SO far as | know
who favor the free coinage OF silver, favor also
the free coinage of gold, that is, they are Bi-
metallsts. They believe that both metals SHOULD
have free access to the minis at a fixed
ratio, and that both should be equally legal
tender. They believe in the use OF both
metals for money, because they know, for the
whole history OF the world has proved it, that
there is none too much Of both metals for the
worlds money These must both be used at
2 fixed ratio, and that ratio in the necessities o.
the case is the difference which exists between
the two metals as commodities, afte
] both are admitted to free coinage. Fo
a long time in Europe this ratio was held a
49,. to l in this country at IS to to 1884
1857, and after that 10 to 1. The fat Of the
different governments making use of both met
ais as money held this ratio steady, only Their,
was some disturbance caused by the diffcrenc,
of ratios in the different countries. The ratio.
) made So when the world returns to bimctalsm
notice your statement fthat "the silye
men under free coinage would take to tn,
mint their silver, now worth in the market o,
5 cents per ounce, and would receive thereof
certificates worth SI.29 per ounce
This possible change Of value Of silver il
much paradcd by those opposed to free coin
age as though it had some bearing on tn,
question 1t has none whatever. Gold to
day used as money by the grea
$ commercial nations OF the world, is worth 5000,
per ounce. Should its use as money b,
dropped by these nations its value woulC
Immediately fall as did that Of silver
should it then be remonetiled it woul,
again become more valuable. This i
, perfectly true OF both metals, and lik
a great many other facts, doesn't il
/ the remotest degree affect the question W,
e are discussing, whether bimetallism or mono
e metallism-the free coinage of both metals a
/ the mint with legal tender qualities given t.
E each, or the free coinage of but one metal
n the best system of money.
y The question whether money matera
, would best be of large or small value is al