The herald., 1896-06-06
FUTILE, FOOLISH AND FRAUD.
ULENT

In the light of the extraordinary and
futile sacrifices the United States have
made in behalf of the silver mine own
ers of the country, the proposition to
THROW the mints open to the free, unlim-
tied and Independent coinage or silver
at the ratio of 16 ounces of silver to
one of gold, when the commercial ratio
in nearer 80 to 1, is one of sheer lunacy
or pure brigandage. Where is the dlf-
ference between the commercial and the
legal tender values of the metal IN the
standard silver dollar, coined on the ba-
sis of the ratio noted, to come from! is
II to come like the rains Of heaven or the
flowers of the field? Is 1t to be the pro-
duct of some supernatural agency? NO,
1t can only be the product of the toll, the
sweat, the thrift and the priVatlon OF
the men and women of the lana VINO
labor The difference between the COM
merciaI and the legal tender values or
the silver dollars coined under free com
age legislation, represents wealth, and
in the end the processes of trade and in
dustry will extract that wealth from the
wealth producers. When did the peo-
ple incur such tremendous obligations to
the silver kings? And If the people are
under no obligation to the silver kings
why should the latter be permitted to
levy such an enormous tribute upon the
former as that provided for in the coin
ing of fifty cents worth of silver into
dollar endowed with debt-paylng,
wage-paying, check-paying function OF
100 cents? What is the difference be-
tween paying out of the money collected
from the people through the medium OF
taxation, to the white metal magnates,
$50, 900, 900 in gold and placing upon $780,
600. 600 of silver bullion furnished by
these same magnates stamp that Will
enable them to buy labor and pay debts
TO the extent of double the value of their
commodity? Why is the payment of
such a premium to the mine owners
more just or Democratic than the be-
stowal of bounty to the sugar produc-
ers, the donation of enormous grants to
railroad corporations, or the delega ton
of the power of taxation to the coal and
iron barons of Pennsylvania and Ohio
and the mill monarchs of New England?
The proposition of the free, unlimited
and Independent coinage of silver at the
ratio demanded Is laden with panic and
the bankruptcy, distress and starvation
that comes with panic. 1t is rank and
rotten robbery.
The criminal folly of the scheme tc
have the United States rehabilitate sill
yer is well exploited in the following
editorial in the Terre Haute Gazette
The facts set forth are entitled to the
candid consideration of every silVeritt
who honestly desires to know and tc
abide by the simple truth. The Ga
zette says:
No other country in the world woult
have undertaken the tremendous tasl
which the United States took UP il
1878, and laid down in 1898. Betweel
those years $500, 10000 Of silver wer
bought and taken off the market in tn
effort to stay the inevitable downwar,
course of silver and keep its value, rel
ative to gold. high enough to make a res
toration of bjmetallism possible. Firs
the purchase of $24000,000 worth an
nually for twelve years failed to sto
the decline. Then the purchase of S54,
900, 900 annually-the entire America
product in 1S90--not only failed to i'm
prove the value of silver, except mo
inentarily, but actually accelerated tn
decline by enormously stimulating tn
production. 1t was not till the countr
stood on the verge of that disaster whic
is involved in a sudden depreciation +
the standard Of values and a violent con
traction of the currency, that the ex
periments in the interest of silver ceas
ed.
Those experiments were institute