The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-05-09
FREE COINAGE OF IRON.
An Atlanta Man shows How TO Pro-
mote wealth and Happiness.

From the New York World.
Having been deeply impressed by the
arguments of Judge Crisp, Bryan, Stew
art, Jones and other silver leaders, and
especially grieved, shocked and Mortified
by the awful crime of '73" as so luridly
depicted daily in the columns of the
Atlanta Constitution and other silver or
gans, 1 have changed my views on the
money question and am ready to main
tain the propositions following in joint
debate or newspaper controversy.
I accept the arguments of the advocates
of silver, and agree with their remedy
as far as it goes. However, IL does not
go 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 I'm favor Of the free and unlimited
coinage Of pig iron at ratio or l6 to
with gold by the United States alone
independently of all. nations, and can
prove by the best authority obtainable
that such policy on the part Of the Uni
ted States will raise prices" put plenty
of money in circulation and give the
honest debtor chance to pay his debts -
thereby making the whole country pros
Now, in the first place, it may be urged
by some who do not understand the sub
ject of standards Of value" that a free
coinage act for iron would not raise its
price to a ratio of 16 to / with gold. To
them / reply "the stamp of this govern
ment" 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 any
thing less than the mint value ?'-(SteW-
art, Jones and Bryan.
Again. it may be urged that our mints
would be overcrowded with pig-iron. / re-
ply: THAT the price of pig-iron having
been raised from $3.50 ton to a ratio of
l6 to ! with gold the world over no one
| would especially care TO carry 1t to the
mints since the mint price could be OBJ
| tanned anywhere in the open market. t.
lanta Constitution
Next, it may be urged that gold and sill
yer would go out Of circulation / reply:
First, This is mere assumption of the
tools of the money power which they can
not verify" ATLANTA Constitution; second,
Suppose gold and silver do 90 out Of cir
take their place and give the people plen-
~ of money!" CBryan) and third, That
such an assumption mixes the idea OF cir
cuation medium and standard of value
that gold and silver would still be poten-
tial money metals, though not in circula-
ton, and would lend their help towards
raising prices and causing general pros
perity. "-(Crisp).
Then again, 1t 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 be fool enough
to work for 81 day who could make $1,000
I
| horseshoes and carrying them to the mint
| for coinage. "-(Hull)
In addition, it may be urged by the mon
/ ely power, by the wall street sharks" and
/ the Bond street shylocks' that we could
not alone go on a pig-irOn basis without
/ an international agreement. ITO such das-
/ tards as dare to lay a limit to the power
/ of the American people to do what they
please, independently Of all nations, hurl
! their cowardice and lack of patriotism
1 back in their faces. "-(Bryan)
/ The crime" of demonetizing plg-iron
! took place about two thousand two hun
| tors" and "silvertes," in order to Increase
/ the purchasing power Of their in-gotten
wealth, secretly and like thieves In the
night got the decentralization act passed
/ repeating the good old free coinage act OF
! Lycurgus, the friend of our ancestors
/ daddies." 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
wheel barrow. Atlanta Constitution.
A ruinous fall in prices followed the de-
/ monetizatton OF iron, and has continued
! for upward of two thousand years. 1 have
/ calculated the losses entailed upon the
! honest people of this world by that ruth.
/ less act but the figures are so enormous
fear a revolution will ensue II the people
/ learn how greatly they have been robbed
! But facts are facts, and the best way {
/ right wrong is to meet it squareiy. THAI
loss is S2l009 600 600 900 600 600 900 600 600 COO
! Coins Financial School.
In conclusion insist that the free coin
/ age Of pig-iron will do everything that /.
claimed for silver, and Infinitely more
The people will be rich and prosperous
The once poor man can pay his debts witt
his old stove. Railroads can declare diVi
dends on old rails and wornout rollins
| stock. The small boy can pick up old nail.
and horseSh enough TO support hi,
family In fine, poverty and debt can NJ
| longer exist! Alex p. Hull.