The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1896-06-24
A HORRIBLE CRIME.
DECENTRALIZATION OF IRON 1900
YEARS AGO.


Is Entirely Practicabie-0ur Govern
ment Can Do Anything-No Fear of q
Pig Iron Basis--would Give Us High
Prices and Wages and Plenty of Money.
Alexander P. Hull Of Atlanta is q
strong 16 to man. He does not believe
in halfway measures. The free coinage
of silver idea is too tame for him. He js
willing to see the silverites and to go
them 100 points better. Here are his De-
iaration, proposition and argument:
Having been deeply impressed by the
arguments of Judge Crisp, Bryan, Stew
art, Jones and other silver leaders, and
especially grieved, shocked and Mortified
by the "awful crime Of 1878" as SO lurid-
ly depicted daily in the columns CT the
Atlanta Constitution and other silver
organs, haze changed my views Oh the
money question ana am ready to main
tain the propositions following in joint
debate or newspaper controversy.
accept the arguments Of the adyo-
Gates Of silver and agree with their rem
edy as far as it goes However, it does
not go far enough. Let US have plenty
Of remedy-in fact, enough to make
debt and poverty things Of the past
relics Of the dark ages. l am in favor
Of the free and unlimited coinage CT
pig iron at ratio Of Is to l with
gold by the United States alone, in
dependently of all nations, and can
prove by the best authority obtainabl"
that such a policy on the part Of the
United States will "raise prices, y "put
plenty Of money in circulation" and
give the "hOnest debtor chance to pay
his debts,' thereby making the whole
country prosperous.
Now, in the first place, it may be
urged by some "who do not understand
the subject of standards Of value" that
o free coinage act for iron would nGtt
raise its price to ratio g 10 to / with
gold. To them reply that "the stamp
OF this government" and the illegal ten
Ter qualities Of the iron dollar woul'l
instantly make the bullion value Of pig
iron the same as the mint value. eft.
who would part with an ounce Of this
precious metal for anything less thu.
the mint vs.lue?" (Stewart, Jones and
Bryan.)
Again, it may be urged that our
minis would be overcrowded with pig
iron. / reply "that the price Of pig
iron having been raised from 81. so ton
to ratio of i6 to l with gold the world
over no one would especially care to
carry it to the minis, since the mint
price could be obtained anywhere in the
open market" ATLANTA Constitution).
Next, it may be urged that gold and
silver would go cut Of circulation. I
reply, first, 'This is a mere assump-
ton of the tools of the money power
which they cannot verify" ATLANTA
Constitution); second, Suppose gold
and silver do go out Of circulation, is
there not plenty Of pig iron to take their
place and give tho people plenty CT
money!" tBryan), and, third, Such
an assumption mixes the idea of Cir
culating medium aud standard Of val
ne, that gold and silver would, still
be potential money metals, though not
in circulation, and would lend their
help toward raising prices and causing
general prosperity" Crisp.
Then, again, it may be urged against
the pig iron standard of value that
wages would not rise in proportion to
prices. The reply is, wages would
be compelled to rise, since no man
would be fool enough to work for 81 u
day who could make 81, 600 per day
picking up rusty nails and old horseshoes
and carrying them to the mint for coin
age" (HulD.
In addition it may be urged by the
money pow er, by the "Wall street
sharks" and the Bond street Shylccks"
that we could not alone go on a pig iron
basis without an international agree
ment. ''To such dastards as dare to lay
u limit to the power Of the American
people to do what they please, independ-
emily Of oil nations, I hurl their cow
ardice and lack of patriotism back in
their faces" (Bryan).
The crime" of demonetizing pig iron
took place about 2, 200 years ago, when
certain ''goldolators' and ''silverites, !"
In order to increase the purchasing pow
or of their i'll gotten wealth, secretly
and like thieves i'll the night" got the
demonstration act passed repeating the
good old free coinage act of Lycurgus,
the friend Of our ancestors daddies. .
Today China is the only country on
earth honest enough to coin iron, AMI
there the happy laborer can carry homo
the wages Of his honest toll in wheel
barrow ATLANTA Constitution).
A ruinous fall in prices followed tho
decentralization of iron and has contin-
ued for upward Of 1900 years. have
calculated the losses entailed upon the
honest people Of this world by that ruth
less act, but the figures are SO enormous
] fear revolution will ensue if the peo-
pie learn how greatly they have been
robbed. But facts are facts, and the best
way to right wrong is to meet it
squarely. THAT less is $21, 900, 00O,-
600, 600, 600 900, 900, 900, 900, OOO'
COINS Financial School).
In conclusion insist that the free
coinage of pig iron will do everything
that is claimed for silver and infinitely
more. The people will be rich and pres
porous. The once poor man can pay his
debts with his old stove. Railroads can
declare dividends on old rails and worn
out rolling stock. The small boy can
pick up old nails and horseshoes enough
to support his family IL fine, poverty