Democratic Northwest and Henry County news. [volume] (Napoleon, O. [Ohio]) 1894-1905, 1896-07-30
THE SILVER NINE OWNERS
The Claim Of the New Orleans Picayuns
That They Would Be Enriched.


Now, Mr.. Editor, want to ask how
the silver owners are TO be enriched by
the free coinage Of silver? Even though
the silver owners should be enriched
thereby, does that fact count as an ar
gument against the restitution of the
rights of silver if its free coinage would
result in a general benefit 10 a majority
" the peoplef The Picayune advocates
D small duty ON imported sugar, but to
be consistent it ought TO oppose any
such duty on the ground that it would
result in benefit to the sugar planters
Can The Picayune think of any legisla-
tive act or government policy, however
wisely devised for the general good of
the whole people, that does not greatly
favor some while it does not favor 9TH
ers? As q matter Of fact, however, ac-
cording to The Picayune's own state
ment whether it be taken "a-comin or
a-gwine''), there is no ground for this
bugaboo story about the great benefits
the silver owners are to derive from free
| silver coinage.
If the $50 cent dollar" theory of The
Picayune be true, the miners can reap
no profit from their silver bullion more
than they are now getting. If the dol
lars they will have coined are to be
worth only so cents, how in the name
of Julius Caesar can they derive any
profit from o transaction wherein they
must lose at least 8 cents on each dol
lar they have coined? The silver bullion
in a silver dollar is today worth more
than 80 cents, and if The Picayune cor
rectly states the case there would be an
absolute loss instead Of an enormous
gain to the owners Of silver bullion in
free coinage. But The Picayune did not
mean that, for that is too self stultify-
| ing a position even for The Picayune to
take on the financial question. Ibelieve
that it is q principle Of law that where
la doubt exists as to the true meaning of
any clause it must be construed in har-
mony with some other existing clause
on the same subject Now, by the ap-
plication of this test will we endeavor
to arrive at what The Picayune did
mean when it spoke Of the enormous
profit that free silver coinage would
bring to the owners of silver bullion.
Here is what The Picayune stated in a
very positive sort of way on March 2,
1896:
| "Such, in brief, are the goldbugs,
but it will be worth while to inquire
who are the silver bugs. First and fore
most ore the silver miners, who by the
adoption Of free silver coinage will al
once have the value of their product
raised from 10 cents an ounce to 12f
cents an ounce
| Now, 1879 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 il
to its old value is free coinage at the
old ratio. But The Picayune's state
ment involves also the admission tha
the present low value Of silver bullion
Gas declared in terms of gold) was tht
direct result of the demonetization O.
silver.
l Therefore the demonetization was al
outrage and robbery of the silver men
and a restoration Of the old order O.
things, which would be an act of sim
pie justice to them, would at the sam,
time make their products as valuable a
ever. The old mint price of $1.29 pc
ounce would be at once restored. If til
value of silver should be 81. 30 an ounce
who will begrudge it to the men VIII
have silver bullion? And how can TIL
Picayune find it in its bowels to com
| plain and rant about so cent dolla
} that would distress and injure the poo
workingman when by its own logi
and reasoning such dollar cannot re
suit from free silver coinage?-O. P. @
in New Orleans Times Democrat.