The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-10-03
A DOLLAR WHICH srars At HONE.

The @Popaiistic advocates Of the free
coinage Of silver. when Il is pointed out
that the result CT free coinage would be
20 debase the coinage and reduce its value
in terms OF gold. have an answer looking
specifically ike an argument. which Is:
''lf our dollars are worth less than their
gold value they with remain here. because
they would be worth mere here than any
where eiso In the world" To this they
add: we want dollar that stays at
home"
Unfortunately for their argument. this
is precisely what We would not nave.
VITA free coinage, IL requires no argu-
ment 10 prove that the market value Of
increased silver bullion would be precisely
identical with the market value OF coined
dollars When without any cost 20 him
self the holder Of silver bullion can have
II mintsa into dollars. the value. weight
for weight. of bullion and of dollars VIII
hc identical Consequently under free
coinage the value OF Z silver dollar will
be precisely as great abroad as II is at
home. that is IL VIII be worth It's bullion
value and no mare In all countries. and
the mint mark wili simply be a certificate
Of weight and nnsness. For export pur-
poses as buil3on 1t will be a triHe more
convenient than unstamped bars
This Is shown By the experience of Mex
leo According 10 the report OF the direc-
tor OF the mint. made August Is. 1894. the
nlints OF Mexico had co3:sed between
January ], Is7s. and December 81, 1891, up
wards OF as. 900 go silver dollars They
were legal tender nowhere except in Mex
leo; yet In 1894. according TO the estimate
Of the director OF the mint. there was in
circulation In Mexico but $50, o1o. go in sill
Yer. saven-eiehths OF all the silver coined
In Mexico during that term OF years had
gone abroad, had been exported and sold
al its bullion. not it's coinage. value. A
free coinage dollar IL not a dollar that
stays at home. apparently
According to the theory that II is open
minis. not open factories, which make the
wealth Of the people. Mexico ought TO be
the richest country, and IL ought also to
have the highest per capita circulation OF
the world. Ii coined in nineteen years
sufficient money to have given per capita
circulation OF upwards of So. without
counting any stock on hand prior TO that
time. and yet in 1924 It's per capita circuia-
ton was bat sL9i. Its coined money had
gone abroad.
In this country We have I'm the existing
home" II IL worth in this country In gold
Il cents more than its bullion value IL IL
ever does get abroad II is promptly sent
back. because worth more here than any
where elise In the world.
With free coinage. the silver dollar
would be worth neither at home nor
abroad any mere than it's bullion value,
whatever that might DC. II the people
want "a dollar which stays a. home the
only one which certainly fills that bin is
the one coined by the government on its
own account. from bullion purchased by
the government. and paid out TO govern
ment creditors in ordinary business trans
actions. with the pledge OF the govern
ment TO keep ii az fuil parity With gold
That dollar they have now. and the stock
is being added 70 every month This is
The silver dollar which the Republican
party proposes . keep In circulation. and
70 add 70 as fast as the necessities Of husi-
aess demand. AMI 20 as great an extent
IS Is compatible With tbc preservation Of
pgblic confidence in the ability Of this gov
efntaeat 20 keep each one az par with
l.uld