Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1896-12-24
TotaI foreien. .159

In the face of these figures from I'M
disputed authority, how dare any sane
man tell us we cannot attempt,to for
mulate our own financial policy? Our
present wealth is placed at SIC, ,000,-
600. 1t is childish to assume that would
not be enough to guarantee the parity
of less than $4,000, 100000 of silver-and
that covers every grain of silver money
and bullion in the entire world. A bust
ness man that would not ship $4,000
bill of goods to a merchant with $780,
600 rating, for fear of his solyency,
would have guardian appointed over
his affairs by any judge on the bench.
1t is true that, as redemption money,
silver would not be redeemable in any
thing else; but the government would
coin 412.5 grains standard silver or 25.S
grains of standard gold into 100-cent
dollars, both of equal legal-tender quail
tiles, and it is arrant nonsense to sup
pose that either could be worth one-haIf
the other.
Neither would there be flood of sill
yer from other lands. The European
silver money is at par now owing to the
guaranty of the respective govern
ments. Their coinage ratio values
their silver at from $1.O315 up, as com
pared with the gold dollar. Would they
sacrifice that while our ratio values it at
81? Then as to plate, knives, forks,
watch-cases, etc.: Ask any intelligent
housekeeper to weigh her silverware
and compare its price with the S1.2929
an ounce that bullion would be worth
after reconciliation. She would
laugh at you. The Asiatic nations
would send us no silver, for there has
always been a steady flow of silver to
those countries which never returns.
The requirements of the arts and sci
ences would not be whit less under
bimetallism than under monometal-
lism. In word, the rest of the world
will require just as much silver then as
it does now.
just word about the colossal swim
die known as the gold reserve. 1t is
claimed the parity of our secondary
money could not be maintained without
the gold reserve as guaranty. In the
report of the secretary of the treasury
for October 1, 1894, is the information
that there was $1,154,912,734 of paper
money outstanding, and 1928, 66S;756 in
gold coin and bullion in the treasury to
redeem it-a little over cents in gold
for the security of every 100 cents in
paper! VIII anyone deny that it is the
$70,000,0 100000 of wealth behind 1.-THE
faith of our nation--that keeps it at
par? Suppose, now, you chose to make
our silver, too, dependent on the re-
serve, instead of the faith of the govern
Elent, how long think you it would re-
main at par? Think of it! We are told
that money cannot pass at par if merely
based on the faith of the government,
and then bonds are issued 'to protect
our credit" in 500, 100000 lots, based
on that same faith and selling at a pre-
MUM!
The gold reserve is merely a conven-
lent teat for our honorable national
bankers and bondholders to milk when
ever a good market makes q national
bond issue desirable. 1t seems to me
that even the average Yale rowdy could
see that international bimetallists" are
either dupes or designing monometal-
lists. Scratch Them" says Prof.
Ross, "and you will find them 1eIla
derneath. John T. H. He'd
cage Record. 80