Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1896-07-30

Postmaster General Wilson Explains what
Free Coinage Means to Farmers and
| Othcrs.
| In recent letter to DR.. NJ. W. Cam
bic of Moorchcld, W. Va, Postmaster
General William j. Wilson makes the
following clear statement Of the real
meaning and effects Of free coinage:
Gree coinage of silver at 1G to
means that any private owner Of silver
bullion may bring it to the mints and
have it coined without charge into dol
lars Of the present weight and fineness,
which, of course, would thereafter be
worth as much as and no more than the
bullion Of which they were coined,
| which is now about so cents to the dol
lar. No gold would then be coined, be-
cause with the bullion necessary to coin
gold dollar could be purchased enough
silver bullion to coin two silver dollars.
debts which he could pay with less val
liable silver dollars The first effect Of
free silver would be to drive out Of cir
culation the $G25, 100000 Of gold and
to sink all silver and paper money to
Nho standard Of the silver dollar.
'Thcrc is no country III the world
that could make this sudden change i'll
its money standard without plunging
headlong into an indefinite period OF
panic, bankruptcy and distress, with
disastrous check to its development and
long idlcncss to it's industries. The hope
held out to debtors that they would be
able to pay in cheaper dollars would
never be realized because they would be
ut once pressed for their debts, and i'll
such Reorganization OF trade and Of
all business they could not get Me- alcap-
or dollars and the idea that free silver
would give us larger currency would
not be realized If ever, in tho lifetime
Of the present generation.
1.-The farmer is urged to support free
silver on the ground that his products
have gono down with the gold standard
and would riso with the silver standard.
They would not riso NJ fast or as much
as tho things no has to buy, and he ought
to see that, while wheat and some other
things have gone down of recent years,
II IL because OF the immensely increased
production and tho speed and choapness
with which all parts Of the world can
carry their wheat by steam car and
steamship to tho markets which fix its
price.
but farm produces, on the average,
have not fallen near 80 much AZ tho
things which the farmer has to buy, and
labor has steadily increased in wages in
all the years of tho gold standard, thus
giving tho lnboring man, with fewer
hours If work, larger control over tho
ncccssarios and comforts of life.
"Out Of all the cntaHtrophos Of such II
change no men would emerge unframed
except those who own gold or who own
silver bullion or mines, and when wo
hnd once gotten to u silver basis and be-
gun to build up again the credit system
upon it-that marvellous system which
has mado possible our modern develop,
mcnt and which represents many timS
In currency circulation and power tho
money basis on which " IGsts-wo
should havo u cumbersome, heavy, i'll
fcror metal money, like the few unpro-
grcssivc countries of tho world, and sur
render to our great commercial rivals
tho best metal and the best mechanism
for trade and commerce,
''lf congress tomorrow Ind the power
and should enact law compelling all
the railroads of the country Immediately
to change from broad gauge to narrow
gnugc, it would not moro diSorgnni2o
the transportation business of the coun.
try and moro cripple its efficiency there.
nftcr, us compared with other nations,
than for us to pass Mt once from gold
to IL silver standard.