Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1896-08-10
Il SOUND MONEY MINE OWNER.


money"
Il SOUND MONEY MINE OWNER
A. W. Harris, silver mine opera
tor of Kingstown, N. M, sends his
congratulations to Maj. Mckinley on
his nomination and his stand for
sound money and protection, saying:
'sYou will doubtless be surprised to
hear the avowal of sentiments in op-
position to free and unlimited coin
age of silver by silver mine owner
and operator of II years standing, but
such is the fact. I never hesitated to
declare that it was my opinion, deriv-
ed from constant study and investi-
CATION of the subject, that free and
unlimited coinage of silver at ratio
of 16 to 1 would result in silver mono
metallism and the consequent over
whelming disturbance of the general
financial systems Of the country. The
idea of making it a leading issue was
conceived in spirit of reputation
and an an anarchistic desire to break
down the national banking system
and the manufacturing and Industrial
system of the country. Now, while
my chief interests are intimately as
ISOLATED with silver mining, and I
would gladly see the white metal ap
preciate in value by any proper and
permanent means, | cannot wish its
accomplishments at a sacrifice of the
general veal and loss of national fin
ancial honor0
THE CHEAP MONEY MOVEMENT.
If silver is added again to the mon
ey of the country, it must inevitably
become the only money. There is
now in the country about 2,224, 000,-
900 in money and its representatives
of which about $500, 600, 900 is in gold
and 1899, 900, 900 is in silver. The gold
will leave the country, for men will
not pay their debts in 100-cent gold
dollars when they can pay them in
53-cent silver dollars. So, for time
at least, this effort of the silver men
less money. After many years they
might be able to coin enough silver
dollars to take the place of the gold
that will be expelled from the country
by the triumph of free silver, but for
a long time there will be contrac-
ton of the currency. Mr.. Bryan's
effort is not the first one to remedy
hard times by means of cheap money,
nor is free coinage of silver unknown
to the country. Free coinage of sill
yer was authorized by the coinage
laws of the U. S. from 1892 to 1873,
but gold was undervalued when the
ratio between it and silver was fixed
at Is to 1, which was the first ratio
adopted in this country. An ounce
of gold was then worth more than Is
ounces. Therefore gold did not cir
culate, while the circulation of silver
was so limited that it's coinage was
suspended from 1906 to 1886. During
the first so years of its existence the
government did all in it's power to
1AdhO CAO hOACJ VI UAO COuAU1y CnCCD
and abundant. 1t even permitted
the circulation of certain foreign
coins that we're SO cheap that they
drove our own coins out of the coun-
try. Finally we had the wild cat
bank notes and the disaster and ruin
that always waits upon such financial
experiments as that into which Mr..
Bryan is endeavoring to tempt the
people of this country. Having thus
tried free coinage of silver and cheap
money of all kinds, having seen
clipped and abraded Mexican dollars
drive our own gold and silver dollars
into retirement, having seen wild cat
bank notes and then green backs
take the place of coin, having suffer
ed all the troubles that result from
imitation, we do not believe that the
people of the United States will
again make trial of worn out de-
vice.
Before closing, we will state, for
the benefit of those who are confused
by the expression, the meaning of
free coinage at the ratio of Is to 1.
In some parts of the country it is
thought that this means that the gov |
eminent viii give sixteen silver dol