Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1896-07-31

change of any consequence in the
finances of a country can be made
without being detrimental in some
respects.
Admitting that the free coinage of
silver might to some extent cause
gold to go out of culation and seek
a foreign market, yet when it became
known that the United States would
have free coinage, say in six months
hence, at once silver bullion at less
than $1.29 per ounce would be good
investment, and the consequence
would be that silver would go up to
near that price and before the time
for free coinage came, 412a grains of
silver would be worth one dollar just
as orr paper currency raised to the
price of gold before the resumption
act really took effect.
The free coinage of silver would
have the effect to naturally raise the
price of that product by making a
market for it, by giving it a broader
use. 1t would have the tendency to
reduce the price of gold by taking
from it part of its use. in lessening
the demand, thereby throwing more
of it on the market of the world and
thus cheapening 1T; and even those
who have obligations to pay in gold,
if gold be cheapened, it would not re-
quire more produce to pay their OBJ
| legations, than at the present time.
Under the free coinage of both gold
and silver, gold being the dearer of
the two, the $3.50, 600, 900 Of gold now
in circulation would be to our money
system what the governor is to the
engine, for if free coinage of silver
should expand the currency beyond
what might reasonably be expected
then the purchasing value of the dol
lar would come below the bullion
value of gold and gold would gradu-
ally go out of circulation, thereby
holding the volume of money i'll cir.
culation. but little more than at the
present time, and our tifty-cent dol
lars would exist only in imagination
I And on the other hand should thu
volume of our circulation becom,
contracted so that the purchasing
value of the dollar became greater
than the bullion value of gold, i
would again come into circulation
thereby preventing the further con
traction.
Quoting from authority advocatin;
gold standard the amount of re
serve in the treasury was reduce,
) $1,000, 600 during the month of Jun
J last although the redemption
, amounted to $9,G31, $40 during tina
time.
/ The reserve in the treasury havin
, been reduced, in the last few months
Z or since the last bond issue, abou
$50, 900, 900 mostly for redemption
purposes, showing that under tn
2 present system there must be cor
slant financial irritation and issuin
4 of bonds or, the legal tender an
9 treasury notes must be retired, thu
! reducing the volume of circulatio
t without any promise or visible mean
S of supplying the country with a
: increase in the currency that woul
9 keep pace with a constant increas
in population aud business of til
| country, must cause the man who
g heavily in debt to ponder.
5 1t is claimed that with free coinag
e of silver we could not get the gold t
t pay balances on foreign exchange
9 Even if it were so, something we wi
l not admit, the balances of eXchang
: being in our favor we would not nee
!, the gold for that purpose, but if til
) balance of exchange should b
: against us and the gold could not b
r had, it would act as a protection t
$ our manufacturers, which would su
y our protectionists.
1t is also claimed that all Of til
j. great nations, or. nearly all, are col
Q standard nations; if that is reaso
= why we should have, why not run
farther; they all or nearly all have
o monarchical form of government.