The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1896-09-26
FREE. silver Meaning
NOTED ECONOMIST AGAINST THE
WHITE METAL.
Replies to Host of Contentious and
Claims-Nalues- Definitions - Clear
Conclusion.

| edward Atkinson in the independently
/ | am asked to write short article
for The Independent which shall give
the answers to the arguments of the
/ free silver advocates in sharp, clear
words That l will try to do in plain
terms. What | have to say about
methods and persons applies only to
the men who are trying to force coin
at its nominal value in place of its real
value upon the mass of the people
under false pretenses.
| For the first time in the history of
this country, and | believe of any
other, the Bland Act provided for the
forced circulation of standard silver
dollars at thir nominal value" In
every other act and deed of this coun-
try the value of coin has been es-
tablished by its weight and not by its
name. In the legal provisions for the
rating of coins at the Custom House,
the value at which they are to be esti-
mated is determined wholly by the
weight of pure silver or pure gold
which there is in them.
A demand is now made on the part
of the owners of silver mines and
their supporters in Congress for the
free coinage dollars made of silver at
the ratio of sixteen pounds of silver to
one pound of gold.
One pound of gold bullion can
market for over thirty pounds of sill
yer bullion. The value of the silver in
| standard dollar fixed according to
the practice of the United States in de-
termining the value of foreign coins at
the time this letter is written is fifty
three cents The silver bullion in this
mines in which the parties are inter-
ested who are now trying to force the
price of this bullion from fifty-three
cents up to a hundred cents. The very
fact that they have continued to mine,
smelt and sell silver bullion at fifty to
| fifty-three cents in the open market,
! ty cents on dollar to produce it. L
now propose to prove that this demand
! for free coinage is based on false
preterise. 1t is not what these men
want. 1t would not serve their pur-
pose if it were granted. 1t is put for
ward in order to conceal the real OBJ
this proof complete we must first de-
fine the meaning of words.
/. What is coin?
.. What is coinage?
3. What is free coinage?
4. Why does the Government forbid
private coinage?
/. Coins are round pieces of bullion
stamped with figures and words on
both sides, to which a name is given
by law.
?. Coinage is the manufacture of
these round pieces, or disks, of bullion
of uniform weight and fneness or
quality.
3. Free coinage is the making OF
coins in a public coin factory called a
mint, at the cost of the taxpayers and
without cost to those who bring the
bullion to the mint.
4. The Government forbds private
coinage in order that the weight and
quality of the metal in the coin shall
be just and true, so that no man may
be cheated by coins of light weight. OF
bad quality or counterfeits.
With these definitions the words
coin" coinage" and "free coinage
are exhausted. There is nothing more
in them.
Then what is the reason why men
who mine, smelt or own gold or silver
bullion should not take either to the
mint and supply themselves with all
find any good reason why not, for
one should be glad to know what that
reason is.
If any advocate of the free coinage
of silver dollars or copper dollars OF
iron dollars at any ratio, 10 to more
or less, viii agree to stop there ano
ask nothing more, ! for one am pre-
pared to meet him and in that way tC
stop the present contest. Who would
want them? Not one of these meT
will consent to free coinage on thos,
terms. Not one of them will be salts
fed. Not one of them would then get
what he is after under the preteXt thai
free coinage and equal rights of gol(
and silver" is all that he wants.
challenge anyone to find an advocat,
of free coinage at 16 to l on thes'