Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1896-08-11
Free Coinage: What 1t Is. What it is
Not

The advocates of the gold standard
for money, seem unable to define
with precision just what is meant by
FREE COINAGE; and as such definition
is essential to clear understanding
of the purpose and effect OF words
used, the following may be accepted
as the truth in relation to each set of
phrases: Free Coinage, Unlimited Cor
unrestricted) Coinage, Gratuitous
Coinage.
Free Coinags means that
every person having good metal (sil-
yer or gold). shall be entitled to FREE
ACCESS to the mint to deposit it for
coinage; that there shall be no dis
elimination, no favoritism, for or
against either metal, nor in favor of
or against any person, by reason of
age. sex, color, religion or party. And
that mint officials shall receive the
bullion, and deliver out the coins
made therefrom, in the order of time
In which deposited. And that the
law shall provide proper penalties
for the due enforcement of these
rights. Free coinage does not mean
gratuitous coinage either directly or
by implication.
Unlimited Cor Unrestricted) Coin
age.-This phrase means, that any
person may deposit at the mint for
coinage, any quantity of metal, silver
or gold, without reference to locality
where produced, or limitation as to
amount, above $500.
Gratuitous Coinage means, that
STANDARD METAL shall be fabricated
into coins, without charge for mint
age, or the operation of the mint.
There never has been, nor is there
now, any controversy as to whether
coinage shall be gratuitous or not. If
it is proposed to make the mint, either
in whole or in part, self-supporting,
the only demand is, that both silver
and gold contribute upon an equita-
BILE basis of charge for coinage to that
support. That the law shall provide
equal rights to silver and gold. That
there shall be no discrimination for
or against either metal, in their rights
OF mlntage, and function as money.
The coinage Jaw of 1902 was fashion
ed upon the English Act Of Parlia-
ment of 1866, which provided for the
free, unlimited and gratuitous coin
age of all the silver and gold brought
to it for coinage into lawful money
of England. The act of 1887 was a
free, unlimited and gratuitous coin
age act.
The acts of 1892 and 1887 provided
for certain charges, for assaying, re-
filming, parting, and for alloy, in pre-
pairing, or standardizing the metal;
but no charge for the operation of the
mint. 1t will be observed that the
law draws sharp distinction be-
tween the metallurgical processes of
preparing standard metal suitable
for the operation of the Mint, and the
conversion of stalJ ard metal into coin
Standard metal may be prepared
by any responsible metallurgical es-
adjustment: but the converting of
standard metal into ooin, is the pre-
rogative of the mint; expressing the
sovereignty of the people. The sarv-
ices of the United States Mint have
uniformly been gratuitous, with the
exception of twenty-three mouths
after February ~, 1878.
The coinage act of 1878, for the first
time established a mint charge of one
fifth of one per cent. for converting
standard gold bullion into coin. And
the charges for assaying, melting and
refining, parting and for alloy, to be
fixed by the Secretary of the Treas
ury SO rs to equal, but not to exceed,
the actual average cost, etc. This
| charge of one-fifth OF one per cent.
on gold coin was repealed by Sec. 2,
Act of January 14th, 1875, IAN Act to
Provide for the Resumption of Specie
Payments" So that since that date
the coinage of gold has been free,
unlimited and gratuitous. The de-
mand is for exact equality for silver
and gold; no more, no less.