Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1896-05-27
Free Coinage of Iron.

The Atlanta Journal prints the following;
To the Editor Of tie Journal:
Having been deeply impressed by the ar
guments of Judge Crisp, Bryan, Livingston
aud especially the Atlanta Constitution on
the financial issue now before the people, |
and being deeply grieYed, shocked and hor.
rifei by the stupendous loss entailed on the
people OF the South By the awful crime Of
49, amounting to no less than $1,000 0O0,- |
600 according to my friend, Mr.. Jerry Gold
smith, in his able paper in last Sundays
Constitution. have changed my views on
the money question, and am ready to main
tain the propositions following, either in
Joint debate Or in newspaper controversy
with ali comers-I accept their argument,
and agree with their proposed remedy, as
far as it goes-only don't think it goes far
enough Let US have plenty of remedy, in
fact enough to make debt and poverty
things of the past, relics of the dark ages
am in favor of the free and unlimited
coinage of pig iron at sixteen to one, and
can produce authority for the proposition
that such course will raise prices" tut
plenty Of money in circulation" and bring
about general prosperity.
Now in the first place, it may be urged
by some who do not understand the subject
of standards OF value that such an act Of
Congress would not raise the price of pig
iron to this level To then | reply, "The
stamp of the government" aud its illegal
tender qualities" would instantly make the
bullion value of pig iron the same as the
mint value. "For who would part with an
ounce of this metal for anything less than
the mint value?" (Brayn, Jones aud Stew
art.
Again, it may be urged that our mints
would be oyercrowded with pig iron. re
ply "That the price of pig iron having been
raised from $ll 25 per ton to a ratio of l6
to with gold the world over, no one would
care especially to carry it to the mint, since
all of his pig iron would bring that price in
the open market anywhere" Atlanta Con-
stitution.
Next, it may be urged that gold and sill
yer would go out of circulation. | reply,
"First, this is a mere assumption of the
tools of the money power, which they can
not verify" ATLANTA Constitution; second,
Suppose they did, isn't there enough pig
iron to take their place aud give the people
plenty of money" ?" (Bryan); and third,
that "such an assumption mixes up circula-
ting medium and standard of value that
gold and silver would still be potential
money metals, even if not in circulation,
and would help to raise prices and aid in
the general prosperity" Crisp
Then again, it may be urged against the
pig iron basis that wages would not rise in
proportion to prices The reply is wages
would be compelled to rise, since no man
would be fool enough to work for a dollar
T. day who could make $1,000 picking up
old nails and horse shoes and carrying them
to the minls for coinage" Hull.
In addition, it may be urged by the mon
ey power that We could not alone go on
pig iron basis without an international
agreement. TO such dastards as dare to
lay a limit to the powers Of the American
people to do what they please, independent
" of all nations hurl their cowardice and
lack of patiolsm back in their faces. >
Bryan.
The "crime Of demonetizng iron" took
place about 1000 years ago in Greece, when
certain goldolators and siIyerites, in order
to increase the purchasing power Of their
ill.gotten wealth, secretly got the demoneti-
cation act passed in Sparta, and prices have
been going down ever since. To-day China
is the only country honest enough to still
coin iron, and there the happy laborer can
carry tue wages ofhis honest toll in a wheel
blrow." ATLANTA Constiiution).
have calculated the losses eniailed upon
the honest people of this world on account
Of the demonetization Of pig iron, and the
ruinous fall in prices consequent thereon
but fear to give the figure, lest a revolu-
ton follow. However, I'll give them, the
people can act accordingly The loss is ex-
actly $4,000, 700, 900 ,OOo, 100000, 900, ,OOO,.
100000 q. w. Goldsmilbj.
In conclusion insist that the free coin
age Of pig iron will do everything that is
clained for silver and infinitely more. The
people will be rich aud prosperous. The
once poor man can pay all his debts with
the old stove. The railroads can declare
dividends on old rails. The small boy can
pick up old nails and horse shoes to support
his family. In fine, poverty and debt can
no longer exist ALEX p. HULL.
HEsENATT WnEzEM