Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1896-07-23
FREE COINAGE or PIG IRON.
From ANOntic TeLeUraph.

From Aaontic Telegraph
Alexander p. Hull Of Atlanta is q
strong l6 to man. He does not be-
lieve in halfway measures. The free
coinage of silver idea is too tame for
him. He is willing to see the silver
ties and to go them 100 points better.
Here are his declarations, propositions,
and argument.
Having been deeply impressed by the
arguments Of Judge Crisp. Bryan,
Stewart, Jones and other silver lead
ers, and especially grieved, shocked,
and hOrrified by ''the crime of 1913" MS
so Iuridly depicted in the columns OF
the Atlanta Constitution a. other siI-
yer organs, / have changed my views
on the money question and am ready to
maintain the propositions following in
joint debate or newspaper controversy.
Iaccept the arguments Of the advC-
Gates of silver, and agree with their
remedy as far as it goes. However, ii
does not go far enough. Let us have
plenty of remedy, in fact. enough to
make debts and poverty thing OF the
pasta relic of the dark ages. am in
favor of the free and unlimited coinage
OF pig iron at a ratio of Is to l with
gold by the United States alone, inde-
pendently of all nations. and can prove
by the best authority obtainable that
such policy on 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 standards of value" that
a free coinage act for iron would not
raise its price to a ratio of Is to with
gold. To them reply that "the stamp
Of the government giving legal tender
qualities" of the iron dollar would in
stantly make the bullion value of pig
iron the same as the mint value. "FOr
who would part with an ounce Of this
precious metal for anything less than
the mint value?" (Stewart, Jones and
Bryan.)
Again it may be urged that our mints
would be Overcrowded with pig iron. |
reply THAT the price of pig iron hav-
ing been raised from 81 so a ton to a
ratio Of II to the world over no one
would especially care to carry it to the
mints, since the mint price could be
obtained anywhere in the open mar
ket. Atlanta Constitution.
Next it may be urged that gold and
silver would go out of circulation. |
reply first: This is a mere assump-
tion of the tools OF the money power
which they cannot verify" ATLANTA
Constitution); second, Suppose gold
and silver do go out of 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 mikes the idea of circu-
lating medium and standard of value,
that gold and silver would still be po-
tential money metals though not in
circulation, and would lend their help
toward raising prices and causing gen.
er;sl prosperity (Crisp.)
Then, again, it may be urged against
the pig iron standard OF value that
wages would not rise in proportion to
prices. The reply is, Wages would
he compelled TO rise, since no man
would be fool enough to work for 81 a
day who could make $1,000 per day
picking up rusty nails and old horse
shoes and carrying them to the mint
iOl COludSC. tL1ull.
In addition it. may be argued by the
"Wall street sharks" and the Bond
street shylocks" that we could not
alone go on a pig iron basis without an
internatisnal agreement. ITO such
dastArds as dare to lay limit to the
power of the American people to do
what they please, hurl their cow
ardice in their faces. Bryan.
~ - s~,s IL
iron took place about 1900 years ago,
when cerlain ''goldolators" and sill,
verites," in order to increase the pur-
chasing power Of their illgotten wealth
secretly, and like thieves in the
night" got the demonetization act
passed, repeating the good old free
coinage of Lycurgus, The friend OF our
ancestors daddies." "Today China is
the only country on earth honest
enough to coin iron, and there the
happy labOrer can carry home the
wages OF his honest toll in a wheelbar-
row."-Atlanta Constitution.
A ruinous fall in prices followed the
demonetization of iron, and has con-
tinued for upwards of 1900 years.
have counted the losses entailed upon
the honest people Of the world by this
ruthless act, but the figures are SC
enormous l fear revolution will en-.
sue If the people learn how greatly
they have been robbed. But facts are
facts, and the best way to right wrong
is to meet it squarely. That loss il
$2l 900, 600, ,OOO, ,OOO, ,OOO, ,0OO, 0OO, OO0, ,OOO
COINS Financial School.
In conclusion, insist that the free
coinage of pig iron will do everything
that is claimed for silver, and infinitely
more. The people will be rich and
prosperous. The once poor man Car
pay his debts with his old stove. Rail
roads can declare dividends on rail-
land worn out rolling stock. Ths