Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1896-05-01
WHAT DOES 1T MEANf

WHAT DOES IT MEAN
In the approaching national campaign
the currency question will be the leading
prominent for several years past. The free
and unlimited coinage of silver has already
been demanded by many of the Western
and Southern States. The advocates of
sound money do not hesitate to say that the
question OF free silver coinage is imperfectly
understood by many who support it with
the vague idea that it will bring an increase
of money. 1t is asked by the leading jour.
mails of the country, and those who contend
for sound money, "that the facts be looked
squarely in the face, and let intelligent citi.
zens determine whether they can favor the
free silver craze"
II is asserted with great truth and force
by the friends of sound money that free
coinage of silver, as defined by the friends
OF that policy in the bill pending in the
United States Senate, means that any per.
son owning silver bullion to the value of
$52 may deliver 1t to any United States
Mint and receive for ii 100 legal tender dol.
lars. 1t means that the government shall
coin, free of charge, in standard or legal
silver dollars, all the silver bullion that may
be presented to it, and thus pay premium
of 4S per cent. to every holder OF silver
bullion.
When it is remembered that the silver pro
ducing interest embraces but an infinitesi
NAL portion of the people OF the country as
compared with those who produce iron,
coal, cottons, woolens, wheat and other pro-
of the government paying to one petty class
OF producers nearly double the value OF
their products should make every honest.
minded citizen recoil against it. In short,
free silver coinage means that the govern
ment shall buy all the silver bullion offered
at nearly double its value.
The Philadelphia Times, the leading Dem
ocratic journal of the great State of Penn
sylvania, in one Of the many red hot balls
that it has thrown into the silver camp, says
"The day that the free and unlimited coin.
age of silver on basis of 16 to l shall be
adopted by this government, would witness
the entire change of our financial system
from gold to silver basis, and this govern
ment would take rank with the pagan and
semi civilized nations of the world, and for.
felt the credit and confidence of the great
civilized nations that have so largely aided
our advancement, and without which we
could not maintain ommercial and indus
trial prosperity for day.
"When the government wanted 10 borrow
money it would be required to pay 50 for
81 as Mexico, China and Japan now do, and
labor would have lttleif any increase in
wages, while the dollar earned would pro
duce only fifty cents worth of the necessa-
ries of life
"Another important point is generally
overlooked by the demagogic advocates OF
free silver coinage. All the free silver coun
tries of the world have an honest financial
system They do not stamp fifty cents as a
dollar. The Mexican dollar, like the Amer
lean gold coin, is worth what it passes for
whether in coin or in bullion. They have
silver currency from necessity, as they are
not able to maintain the gold system, but
they do not commit the disgraceful folly of
stamping coin for any more than its actual
value Here in this most enlightened gov
eminent of the world is the only place where
IL is proposed TO make dishonest dollar by
stamping fifty odd cents as worth one hun
dred and making it fiat money for the pay.
ment of all debts
"Thus far we have been able to maintain
this dishonest money because the govern
ment credit is strong enough to pay out
honest gold dollars for silver dollars or
paper when necessary, but in this effort we.
have strained the credit o: the government
to the utmost, as Is shown by the necessity
~ purchase gold to sustain our money sys'
ten when the balance of trade has been in
orr favor This system cannot continue
without bringing general distrust and re-
pcated panics in business and industrial cir
cies, and there is but one safety for any
political party, for the country and for all the
interests of commerce, industry and trade,
and that is in thoroughly honest money on
the standard universally adopted by the
other civilizations of the world"