, 1896-08-26
WHY NOT PIG IRON?

1t is contrary to our custom TO print
lcn2 ny extracts from other publica-
lions in this department OF the the In
dependent: but the following letter of
\. +. Hull, Of Atlanta. Ga, advocating
the free and unlimited coinage of pig
iron at a ratio OF l6 to l with gold, is
Of such an Interesting character and is
so ~curyinc.ngly put. that we believe it
VIII certainly interest and possibly
aruusc our readers, and may give occa-
sion for Thought to some, if any there
5r who are fayorably inclined to the
Il accept the arguments of the advo-
caras of silver agree with Their remedy
as far as it goes. However, it does not
90 far enough. Lei us have plenty of
r,me,ly-in fact. enough to make debt
ana poverty things of the past-relics
OF Iahc dark ages. | am in favor of the
free and unlimited coinage of pig iron
Al a ratio of l6 to l with gold by 'the
I'ni.oi States alone. Independently oil
AL nations, and can prove by the best
a authority Ob.ainable that such a policy
ON the part of the United States will
'Ill5e prices put plenty Of money in
circulation and give the honest debt
or 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 moi understand
the subject of standards of value that a
free coinage act for iron would moi
raise its price to "a ratio of 16 to l with
gold. To them | reply chat the stamp
of this government and The legal ten
der qualities of the iron dollar would
instantly make The bullion value OF
pig iron the same as the mint value ?
this precious metal for anything less
than the mint value?' tStewart. Jones
and Bryan.)
Again, lit may be urged that our
minis would be o~vercrowded with pig
iron. } | reply shat THE price Of pig
iron having been raised from $3.50 a
ton to a ratio of 16 TO l with the gold
the world over. mo one would especial
ly care to carry 1t to 1.-THE mints, since
the mint price could be obtained any
where in the open market (Atlan'oa
Constbtution.)
Next. it may be urged That gold and
silver would 90 out Of circulation. l
reply, first. This lis a mere assumption
of the tools of the money power which
they cannot verify (Atlanita Constiut-
tom second. Suppose gold and silver
do go out OF circulation, is there not
plenty OF pig iron to take their place
an give the people plenty of money!
(Bryan), and third. Such an assutmp.
ton mikes the idea of circulating med
ium and standard Of value. that golt
and silver would stin be potential
, money metals, though not in circula
ton. and would lend their help towart
raising prices and causing genera
I prosperity (Crisp.)
Then, again, it may he urged agains
5 the plg-iron standard of value tina
wages would not rise in proportion t.
prices. The reply is, Wages would b
compelled to rise, since no man woult
be fool enough to work for 81 a da!
who could make $1,000 per day picking
up rusty nails and old horseShoes am
carrying them to the mint for coinag'
(Hull.)
THE crime of demonetizing pig iro1
took place about 1900 years ago, whel
certain 'goldolators' and 'silverites,' il
, order to increase the purchasing powe;
Of their ill-gotten wealth.. secretly ant
like thieves in the night got the de
monetization act passed repeating tn,
good Old free coinage act of Lycurgus
Today China is the only country oil
earth honest enough to coin iron, ans
, there iuhe happy laborer can carr,
i home the wages of his honest toll in
l wheel barrow (AtIanlta Constitution
} "A ruinous fall in prices followed tn
> decentralization Of iron, and has con
t tinued for upward Of 1000 years.
D have calculated ,uhe loses entailed upo,
the honest people Of this world by tina
ruthless act, but the figures are s
enormous l fear a revolution will en-
sue if the people learn how greatl
they have been robbed. But the fact
are facts, and the best way to right
wrong is to meet it squarely. 'Tha
, loss is $21, 900, 900, 900, 900. 900, 900, 900,
900, 200. 900 Coin Financial SCHOOL,
In conclusion, / insist THAT 1.-The FIRE
coinage OF pig iron viii do everything
that is claimed for silver and infinltel,
more. The people will be ridh AM
prosperous. The once poor man CA
pay his debts with his old stove. Rail
roads can declare dividends or oil,
rails and worn out rolling stock. TIL
small boy can pick up old nails anx
horseshoes enough ito support Ibis fam
lily. In fine, poverty and debt can n
longer exist!".-New York Independ
ent.