Morris tribune. [volume] (Morris, Minn.) 1880-2000, 1896-09-16
FOR HONEST MONEY.
R'kiNLEY'S ABLE DISCUSSION OF THE
MONEY QUESTION.

tion of Debts-Free Coinage Imperil
the Nations observation-disclosures ant
Farmers Have Most at Stake - s'GooC
Money Never Made Hard Times
Major McKinley's letter of acceptance
rs as sound as a gold dollar. The fol
Rowing are some of his best points:
What Free Coinage Means.
The character of the money which
shall measure our values and exchanges
and settle our balances with one another
and with the nations of the world is OF
such primary Importance and SO far
reaching in it's consequences as, to- call
Eor the most painstaking investigation,
and in the end sober and unprecedented
Judgment at the polls. We must not be
misled by phrases nor deluded by false
theories. Free silver would not mean
Ahat silver dollars were to be freely had
without cost or labor. 1t would mean
she free use of the minis of the United
States for the few who are owners Of
silver bullion, but would make silver
coin no freer to the many who are en-
raS6u III QUIET 6uG6rpElS6S.
1t would not make labor easier, the
hours of labor shorter or the pay better.
1t would not make farming less labori-
aus or more profitable 1t would not
start factory or make demand for an
additional days labor. 1t would create
NO new occupations. 1t would add
nothing to the comfort of the masses,
the capital of the people or the wealth
gf the nation. 1t seeks to introduce
new measure of value, but would add
mo value to the thing measured. 1t
would not conserve values On the con-
trary, it would derange all existing val
Res It would not restore business con-
klence, but it's direct effect would be to
destroy the little which yet remains.
The meaning of the coinage plan
adopted at Chicago is that any one may
take quantity of silver bullion, now
worth So cents, to the minis of the
United States. have it coined at the ex-
Fense of the government and receive for
is silver dollar which shall be legal
sander for the payment of all debts, pub
BIC and private. The owner of the silver
bullion would get the silver dollar. It
would belong to him and nobody else
Other people would get it only by their
labor, the products of their land or
something Of value. The bullion owner,
On the basis Of present values, would re-
Geive the silver dollar for So cents
worth of silver, and other people would
be required to receive it as full dollar
m the payment of debts. The govern
ment would get nothing from the trans
Ection. It would bear the expense of
eoinIng the silver, and the community |
would suffer loss by its use.
Silver Dollars Now on q Gold Basis.
We have coined since 1878 more |
than 400, 100000 of silver dollars,
which are maintained by the govern
EHent at parity with gold and are full
legal tender for the payment of all
debts, public and private. How are the
silver dollars now in use different from
those which would be in use under free
They are to be of the same
weight and fneness. They are to bear
The same stamp Of the government.
sShy would they not be Of the same
EafER2 answer: The silver dollars now
n use were coined on account Of the
government, and not for private account
u gain, and the government has sol
mniy agreed to keep them as good as
ne best dollars we have The govern
nent bought the silver bullion at it's
larket value and coined it into silver ,
ollars. Having exclusive control of the
llntage, 1T Gully coins what it can hold ,
panty with gold The profit, rep |
the difference between the t
value Of the silver bullion
nd the face value of the silver dollar, l
oes to the government for the benefit /
the people. I
'armers and Laborers Would Suffer Most. {
If there is any one thing which should
e free from speculation and huctuation,
ever to be the subject of mere partisan
When we part with our Ia
Or, our products or our property, we
hould receive in return money which
5 as stable and unchanging in value as
he ingenuity of honest men can make
/. Debasement Of the currency means
of values. No one suffers so
nuch from cheap money as the farmers
nd laborers. They are the first to feel
is bad effects and the last to recover
rom them. This has been the uniform
experience of all countries, and here as {
lsewhere. The poor, and not the rich, !
re always the greatest sufferers from
very attempt to debase our money. It
would fall with alarming severity upon
already made, upon insur-
nee companies and their policy holders,
lpon savings banks and their depositors,
lpon building and loan association
members, upon the savings of thrift,
lpon pensioners and their families, and
lpon wage earners and the purchasing
Dower Of their wages.
~Good Money Never Made Times Hard"
1t is mere pretense to attribute the
lard times to the fact that all our cur
enCy is on a gold basis Good money