Hot Springs weekly star. (Hot Springs, S.D.) 1892-1917, 1896-10-16
CHALLENGES TO slLvER1TEs

CHALLEs,GES TO SILVERITES.
In no country at no time was there
ever real bimetalism-the really con-
current aud simultaneous use of two
metals as money at constant parity
OF purchasing power-eNcept under the
plan now i'll existence in the United
States. Anyone who believes the con-
trary is challenged to contribute his
argument to these columns.
1t is fundamentally impossible that
the free coinage of two metals at
fixed ratio will enable both to circulate
as money at tine same time, without
preference for one or the other ANY
one who believes to the contrary is
challenged to contribute his argument
to these colums
The only policy that ever did or does
now or ever can make two metals circu-
late as money at the same time, with
out preference for one or the other. is
that policy now in existence in the
United States. in which the coinage OF
one metal is free coinage on private
acconntl, and coinage OF the other is
limited coinage ON government ac-
count. Anyone who believes the con
trary is challenged tn contribute his
argument to these columns.
The eNchangeahle or commercial
value of nothing il, all the world was
ever permanently raised an iota by
mere legislative decree. Anyone who
believes the contrary is challenged to
contribute his argument to these col
umns.
If Legislative decree has never per-
,nanently raised the exchangeable or
commercial value of anything in all the
world, then free coinage cannot make
6S cents worth of silver acceptable for
sl.29. Anyone who believes to the con-
trary is challenged to contribute his
argument to these columns.
Acceptability is the supreme test in
making exchanges. The law may coerce
theacceptanceo of anything, whetherval-
liable or valueless, in liquidation of con-
tract under previous exchange-be-
cause to the law society has given the
power to enforce contracts, and to say
what shall be fulfillment of contract.
But the law cannot coerce any individ-
ual on earth to accept anything, whether
the most valuable or the most valueless.
in direct and free exchange for what
that individual possesses-because to
the law society has never given the
power to compel man to trade for what
he doesn't want in trade. Anyone who
believes the contrary is challenged to
contribute his argument to these col
umns.
The acceptability of anything in di-
rect exchange must be determinable
wholly, solely and entirely by the esti-
mate which the recipient places upon it.
His estimate will be largely determin-
able by what he may reasonably expect
the accepted thing can be again ex-
changed for. The accepted thing can
be exchanged again only for it's general
equivalent in the open market. The
value in the open market will be only
that which may be fixed by supply and
demand. The supply of silver in the
open market at the ratio of 16 to is
twice the demand thereof ut the same
ratio. The eacceptability of silverin ex-
change for any other thing, at 16 to 1,
can therefore be only one-half as much
as for the thing itself. Therefore, in
order for there to be direct exchange
of anything for silver at the ratio of 16
to 1, there must be twice as much of the
silver 1.-THE "1G'') given up as there is of
the 81" (any other commodity) Any
one who believes the contrary is chal-
lenged to contribute his argument to
these columns Falls Press.