The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1896-08-04
THE SILVER MINE owNERs.
Tho Claim Of the New Orleans Picayuna
That They Would Be Enriched.

Tho Claim Of the New Orleans plcayuna
That They Would Be Enriched.
New. Mr.. Editor want to ask how
the silver owners are to be enriched by
the free coinage Of silvcr2 Even though
the silver owners should be enriched
thereby, does that fGct count as an ar
gument against the restitution of tho
rights Of silver if its free coinage would
result in general benefit to u majority
Of the pcoplo2 The Picayune advocates
q small duty on imported sugar, but TO
be consistent il ought to oppose any
such duty on the ground that it would
result i'll benefit to the sugar planters.
Can The Picayune think of any logisla-
tive act or government policy, however
wisely devised for the general good of
tho whole people, that does not greatly
favor some whilo it does not favor 9TH
ers? AS matter Of fact, however, 40
cording to Tho Picayuno's own state
mcnt (whcthor 1t DC taken "a-comin or
a-gwineD, there is no ground for this
bugaboo story about the great benefits
the silver owners arc to derive from FREQ
silver coinage.
If the $50 cent dollar" theory of Tho
Picayunc be true, the miners can reap
no profit from their silver bullion moro
than thoy arc now getting If the dol
lars they will have coined arc to be
worth only 80 cents, how in the namo
of Julius Caesar can they derive any
profit from transaction wherein they
must lose at least cents on each dol
lar they have coined? The silver bullion
in a silver dollar is today worth moro
than 80 cents, and if The Picayune cor
rcctly states the case there would be an
absolute loss instead Of an enormous
gain to the owners of silver bullion i'll
free coinage, But The Picnyune did not
mean that, for that is too self stultify-
ing position even for Tho Picayune to
take on the financial question / believe
that it Is principle Of law that where
doubt exists as to the true meaning Of
any clause it must be construed in hnr-
mony with some ether existing clause
on the same subject. Now, by tho ap-
plication OF this test will we endcavor
to arrive at what The Pioayuno did
mean when it spoke Of the enormous
profit that free silver coinage would
bring to the owners of silver bullion.
Here Is what Tho Picayune stated in
very positive sort Of way On March g
1890:
'Such, in brief, ere the goldbugs,
but it will be worth while to inquire
who are the silver bugs. First and fore
most uro the silver miners, who by the
adoption Of FREQ silver coinage will at
once have tho valuo Of their product
raised from 20 cents an ounce to 129
cents an ounce"
Now, 1870 cents an ounce Is the coin
age value Of silver, and this statement
therefore is an unequivocal declaration
that all that silver needs to restore it
to its old value il FREQ coinage at tho
old ratio But The Picayune's state
ment involves also tho admission that
the present loW value Of silver bullion
Gus declared i'll terms Of Gold) was tho
direct result Of the domonetization of
silver.
Therefore tho demonetization was an
outrage and robbery Of the silver men,
and restoration Of tho old order Of
things, which would bo an lct Of sim.
pic justice to them, would at the same
time make their products as valuable as
ever. The old mint price Of $l.20 per
ounce would be at once restored. If the
value Of silver should be 81. 80 an ounce,
who will begrudge 1t to tho men who
have silver bullion? And how can The
Picayune find it in its bowels to COM
plain and rant about 90 cent dollar
that would distress and injure the poor
workingman when by its own logic
and reasoning such a dollar cannot re-
suit from FREQ silver coinagc?--O. p. q.
in New Orleans Times Democrat.
Declared For Mckinley.
RENO. Nov, July 2S.-The Reno Ga