Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1896-08-27
so CENT DOLLARS.
The Foolishness of the "Mexi-
can Dollar Object Lesson"
Shown.
The Silver Dollar Good as Gold
Because Full Legal
Tender.
Ex-senator Casey Makes
Some Observations on
the Point.


the Point.
E. P. Wells: The Mexican dollar re-
ferred to by the Alert correspondent last
evening was purchased with So cents OF
American money. That fact establishes
the Mexican dollar as so (53) cent dol
lar. Mexico is "free silver coinage
country. II our government should,
under "free silver coinage" law, turn
out dollars without government guar
antee of redemption, and containing sill
YER of the market value of only so cents
each, these dollars would only command
so cents each in the worlds commerce
and would therefore be so cent dollars.
The only people who could be compelled
10 take them at 100 cents each being our
farmers, laboring men and the citizens
generally of the United States.
***
Editor Alert:-In bis communication
last evening IN The Alert Mr.. E. P.
Wells stated, that the Mexican dollar
on exhibition as an "object lesson" IN bis
back window-"wss purchased with So
cents of American money" and, "that
fact establishes the Mexican dollar as q
so (53) cent dollar"
The Mexican dollar which Mr.. Wells
says is so cent dollar, is in Mexico. a
100 cent dollar on their standard. Every
one knows that it is not dollar at all in
the United States. and has no legal right
to be called such. It is simply 80 much
silver bullion, and is in no sense legal
tender debt paying money.
Again Mr.. Wells says: If our govern
ment should under a free coinage law
turn out dollars without government
guarantee of redemption etc."
Mr.. Wells certainly must know that
there is no law which gives to the silver
dollar any guarantee except its legal
tender, debt paying power. That guar.
sntee makes the demand for our silver
dollars unlimited 90 they are not at q
discount. The law does not guarantee
to redeem silver dollars in gold, as Mr..
Wells seems to intimate.
Again Mr.. Wells says that il our silver
dollar only contains, at market price,
80 cents worth Of silver, ~ recognized
by the worlds commerce, 1t will be q
SO cent dollar, and no one but laboring
men, farmers and citizens OF the United
States will be compelled to take it for
100 cents.
This is not true and the reason is that
whom this great nation, under free com
age, gives to the silver dollar full debt
paying power, for all purposes public
and private, such . law makes an un-
limited demand for the silver dollar to
pay debts with.
There would then be no possibility Of
getting for SO cents, silver that would
pay in the country one dollars worth OF
debts. The government itself would
socept for its 5O0.O00,00O annual ex-
pendltures the silver dollar. The Set
tlement of the private debts alone would
be another enormous field for the use of
the silver legal tender dollar. This
would require more money than could
possibly be obtained from both gold and
silver INNING put together. Under such
conditions and under such law there
could be no so cent silver dollar. E.
~
Mexlcar Dollars and Banks.
Editor Alert
It seems that Mr.. Wells has the Mexi-
can doller down to twenty. five cents
now; for he says IN your issue of Aug.
Goth, If our government should, under a
free coinage law, turn out dollars with
out government guarantee of redemp-
ton and if these dollars should contain
silver OF the market value of only fifty
cents each, these dollars would be worth
only fifty cents.
Passing the 'if's" in the above, how
can fifty cent American dollar buy two
Mexican dollars unless the Mexican dol
lars can be purchased at twenty-five
cents each?
We have been told by Mr.. Wells that
Mexican dollars can now be purchased
for SO cents of American silver money,
also that upon the adoption of free coin
age our dollars will be reduced to value
OF fifty cents, and still retain the same
purchasing power IN Mexican dollars.
This cannot be unless Mexican dollars
decline to 25 cents.
In your Issue Of Aug. 18th, Mr.. Wells
asks, why does not the wheat farmer in
sist that the government give to his
wheat legal tender quality and fictitious