Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1896-10-29
To Our Free Coinage Friends.

Ihe advocates of unlimited silver
coinage base their whole case upon
the belief that it will make money
more plenty. But if with the incom-
ing Of silver the gold should 90 out
OF circulation, that would not make
money any more plenty. If with the
!, incoming of silver all our paper mon
ey should decline in purchasing pow
er to the silver basis, that certainly
would not make money more plenty.
The opponents Of unlimited coinage
base their opposition upon the belief
that both these things would happen.
If they should, then every promise
made by Bryan and his followers would
fall. Not only SO, but every present
evil Of which they complain would be
intensified, the men who are in debt
would find it harder to pay, the men
who are in business would find it
harder to borrow, the men who are
out Of work would find it harder to
get employment, the men who raise
or manufacture products of every
kind would find it harder to sell them.
The whole discussion, then, turns
on the question whether gold would
remain in circulation or go to pre-
MUM or not, for if there should be a
premium on it, though ever so
small, it would Of course go out of
circulation at once. It is of the ut
most Importance, therefore, that we
should know, if possible, what are the
probabilities in this matter.
On the silver side we have the con
fdent belief of the silver men that
free coinage will bring silver up to
parity with gold. Mr.. Bryan's speech
es are full of II assert, . 81 am conf
dent, = Il believe . etc., but unfortu-
nately he gives no proof to back up
his comic denee There IS absolutely
nothing to sustain it but his personal
opinion, and that of others associated
with him, who ostentatiously tell us
that they are not experienced in f.
nance, but boast of their hostility to
bankers and money changers, y and
and those who have made life study
of such problems.
On the sound money side we have
the equally confident prediction, and
solemn warning OF nearly all the ex-
pert financiers of the world, the best
educated political economists of our
own and other nations; and this opin-
ion is fortified by the history ola hun
dred attempts to make currency OF
lesser intrinsic value circulate in
equality with that Of greater worth,
every one OF which has been a failure
| The advocates of every scheme to in
crease the circulating medium byusing
a cheaper metal or lighter weight have
been just as confident as Mr. Bryan
and his followers are to-day, but that
did not hep the case one particle. The
fact that a cheaper currency drives a
more valuable one out of circulation
is SO invariable that it is recognized by
all students Of finance as a universal
law, and every experiment in that di-
rection has resulted in disaster and
widespread misery to the very ones
who most expected to profit by it.
We put it to the impartial Judgment
Of every person Of ordinary common
sense whether it is not far more proba-
bic that this experience ofall the world
hitherto will be repeated here than
that by some mysterious and mex
p|icabie agency we shall be able
to reverse all previous
effects from the same cause; and
whether it will not be wiser to return
to the conditions that gave us un-
paralleled prosperity only four years
ago than to launch out on an expert
ment that has been tried SO often and
has always failed.
silver-Bug Il tell you, the silver
leaders are wagings a fight for princi-
pie"