The record-union., 1896-10-13
ReStandardize Silver.

Restandardize Silver.
DDS Record Union: In your notice
OF my address at Seventh and K streets
on saturday night, which was correct
Al the main, and for which myself and
party thank You, you nevertheless mis-
quote me by leaving out the word
solo ana the expression 'restandard-
1ze suVer You say l said: THE Con-
sututlon Of the United States clearly
provided that Congress should issue all
money used and regulate the supply
ana system Of free and unlimited
coinage OF silver meant taking the mat
ter of finance entirely out of the hands
or Congress and placing it into the
Aahos OF foreign mine-owners or others
who have stored away cheap bullion
against the coming of just such a day
as they anticipate will come. This ac-
tlon In taking the money-making power
out of the hands of Congress could not
stand-it would be unconstitutional.
suppose a free coinage law were passed.
Would the workman get any Of the sill
yer rushed into the mint? Not much!
The mine-owner would get 1t ALL
THE metal should be taken out of the
hands of the capitalist. He should sell
1t to the Government at the market
price and the Government should coin
1t, using the surplus as seigniOrage to
pay the expense of mintage. In this
event the mine-owner would not get
Tich at the expense of the workingman
Then turn the money into the proper
channels and prosperity would follow"
Which is clearly a misquotation.
What 1 really did say was: "The Con-
Stitution provides that Congress shall
have power to issue money and regulate
the value thereof. How? By regulat-
ing the supply. Therefore a system of
free and unlimited coinage of either
gold or silver violates the Constitution
by destroying the power of Congress to
regulate the value. Government fiat is
"a sham and delusion, save where the
money Is a medium of exchange only
and not a measure of value, as ours is
and always has been. You ask, What
shall we do then as to money? The
answer is simple. ReStandardize the
silver, put 1t alongside gold as a stand
ard and limit the coinage of both, i. e.,
let the Government buy the metal at
Its bullion value, coin 1t, as the demand
shall make a market for it, and use the
seigniorage or profit to fill up our de-
pleted treasury, and relieve burdens Of
taxation along other lines thus cutting
off all speculation, increasing our sup
ply of money, and giving the poor man
an equal chance with the rich, a thing
which the so-called honest money Of
to-day, which should be spelled with a
d i S, or the ignus fatuus of free coin
do"
You will notice that while the change
in the verbiage is slight, it is very ma
terial, and completely changes the
meaning from being in favor Of So
called sound money to being equally op-
posed to that and 10 free coinage. In
hope that you will do me the justice to
publish this explanation or correction.
j am, etc., FRANK E. COULTER.
The Colored Clubs.
Eds. Record Union: In last Fri
hays paper the Progressive Independ-
ent Club had a notice in your paper,
Eaying that they were the" Republican
club, while they were organized as an
Independent club TO support no partic-
nlar party. On Saturday evening they
were not seen among the many that at
tended the excursion TO Stockton, while
the National Colored Republican Club
attended to the number Of twenty eight
Now, l would like to know where the
independent Progressive Club can fig
are out that they are a Republican club
If they are Republican, let them come
out like men and not sneak about look
Ing for favors from each and all parties
that they think will reciprocate for any
faVors that they see fit to extend to
anyone who will receive them. They
have claimed that the Colored Repub-
lican Club is composed of the down
scruf and scabs of the city, which as
sertion Is false, as the members are
strictly workingmen who are willing to
be known as Republicans, and not in
dependent members of any party that
may think them useful enough to be
paid or hired to do political work that
may be asked Of them
+. ALEXANDER, Chairman.
S. Scott, Secretary.
ReDly to j. w. IifIard