Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1896-10-17

HuMBuG RIDDlED.
Samples cf the Ammunition in tn
Fight in the West.
Reconciliation Of Pig Iron Would Make
Everybody Rich in a Day (NiD.

ture that VIII teacn the people tHe ap-
surdty of the pure silverite cry OF 1t
to is going merrily on. The contribu-
tons to this literature are coming
from everywhere. Much of it is in the
character of short stories; much more
in the shape of quotations from the
speeches of American statesmen-the
same speeches, by the way, that the
Boy Orator quotes FROM
one of the latest contributions is in
the shape of little pamphlet entitled
"A Horrible Crime: the Demonetiza-
ton of Iron 2200 years ago
Here is the story:
Having been deeply impressed by the
arguments of Judge Crisp, Bryan,
Stewart. Jones. and other silver lead
ers, and especially greved, shocked,
and Mortified by the awful crime of
1873" as so luridly depicted daily in
the columns of the Atlanta Constitu-
ton and other silver organs, l have
changed my views on the money ques-
ton, and am ready to maintain the
propositions following in joint debate
or newspaper controversy.
| accept the arguments of the adYo-
Gates of silver and agree with their rem
edy as far as it goes. However, it does
not go far enough. Let us have plenty
of ren;edy--in fact, enough to make debt
and poverty things of the past-relics
of the dark ages. l am in favor of the
free and unlimited coinage of pig iron
at a ratio of 16 to l with gold by the
United States alone. independently Of
ali nations, and can prove by the best
l., III
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 for iron would not
raise its price to a ratio of l6 to l with
gold. To them l reply that the stamp
of this government and the legal
tender qualities of the iron dollar
would instantly 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 overcrowtied with pic
iron. | reply that the price of pis
iron having been raised from s.. so ton
TO a ratio of l6 to l with gold 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 market. Atlanta ConStitu-
ton.
Next. it may he urged that gold and
silver would go out of circulation.
reply. first, This is mere assump-
ton of the tools of the money power
which they cannot verify" (Atlania
Constitutiun): 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 mixes the idea of circulat-
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 gem
eral 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 be
compelled to rise, since no man would
he fool enough to work for 81 a day who
could make $1,000 per day picking up
rusty nails and old horseshoes and car
rying them to the mint for coinage. -
Hull
In addition it may be urged by the
me ney power, by the Wall street
sharks" and Bond street Shylocks'
that we could not alone go on pig iron
basis without an international agree
me- mt ITO such dastards as dare to
lay a limit to the power of the Amer
lean people to do what they please, in :
dependently of all nations | hurl their
cowardice and lack of patriotism back
in their faces. Bryan.
The crime of demonetizing pig iron
took place about 2200 years ago, when
certain "goldolators" and "silverites, y
in order to increase the purchasing pow
81 of their illgotten wealth, secretly
and like thieves in the night" got the
decentralization act passed repeating
The good old free coinage act of Lycur-
gus the friend of our ancestors dad
dies To-day China is the only coun-
try on earth honest enough to coin iron,
and there the happy laborer can carry
home the wages of his honest toll in a
wheelbarrow. ATLANTA Constitution.
A ruinouS fall in prices followed the
decentralization of iron and has contin
ued for upward of 2000 years | have
calculated the losses entailed upon the
honest people of this world by that
ruthless act. but the figures are so
enormous | fear a 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 is $2l,-
600 900, 900, 600, 600 900, 900. 600, 100000 -
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 pros
porous. The once popr man can pay his
debts with his OLD stove Railroads
can declare dividends on old rails and
worn-out rolling stock. The small boy
can pick up old nails and horse shoes
enough to support his family. In fine
poverty and debt can no longer exist
q . Il tt.,r. So