The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-08-16

ion. worth now SO cents, can with free
coinage, be coined into dollar upon the de-
mand OF any holder OF such bullion. This
dollar is delivered to the owner of the bull
ion, and is not supported by the fiat of the
government. The government does not IN
dertake to maintain its relative value with
gold.
The government stamps it, ssThis is a
dollar" Its purchasing power is So cents
but Its debt-paying power is 81. 1t Is to be a
legal tender for 81 of debt, but in the pur-
chase of any article it is only worth So cents
for the seller of the article can fix his price
according to the kind of money offered. Tt is
the doctrine of the people and the anarchist
but is in direct opposition to the traditional
policy Of Thomas Jefferson and Andrew Jack
son and the democratic party.
WRONG AND UNJUST.
When we contemplate the great amount of
debt and credit that is unavoidable In a
vast but new country like ours we naturally
shrink from any measure that viii either
rob the lender or do injustice to the Dor
rover. 1t Is impossible to estimate the
wrong and injustice that will be done to
creditors Ct at. by the scaling Of nearly one-half
DO 1t Will lead to the prompt and harsh collec-
ton of debts before free coinage can become
law. 1 am advised that already debts that
would have remained uncalled for have in
fear of such law, been enforced
1t Is cretain that before a free coinage bill
can become law the wide distrust caused
ny the pending Of such a measure will lead
nee OF property and deepen existing financial
dif1culties growing out of insufficient reve-
nues for the national as we'll for many
state governments.
THESE WOULD SUFFER-
1t is sometimes said pf creditors that they
are blood-thirsty shyiocks. aristecrats blood
suckers. extortioners. 1t may be that there
are among money lenders some men who
merit these epithets, but the great body OF
the creditors of our country are among thrifty.
and into 6r1fS 31,ar
of every community.
One great body Of creditors here is $40 600
Union soldiers, their widows and orphans
who are creditors of the United States to
the amount of over $40 Geo, 600 a year for
services and sacrifices in the Union army.
1t would be act of perfdy and meanness
beyond expression for this great country to
pay them with money of less purchasing
power than gold coin merely because the
overpreduction of silver In the United States
has reduced the market value Of silver bull
lion contained in a silver dollar. To take
advantage OF this decline In order to reduce
the value Of the pfttance to these pensioners
is worse than to rob the graves of the dead.
There is another class Of creditors that the
free coinage OF silver win greatly injure. It
Is the depositors in saving institutions and
kindred organizations who, according to Of
hcia1 statistics, number nearly 1000, 600 people.
VIII you cheat them by reducing the value
and purchasing power OF the dollars they have
deposited? Free coinage viii nearly wipe out
one-half the value of life insurance which
p&9Fdu0kll pc9plS VI The OtiiASa St8JeS nave
paid to secure in case of their death, some
support and protection to wife and children.
1t win affect in3urieusly the multitude Of
clerks and employees who depend upon
monthly pay. and viii reduce the purchasing
power of all salaries of officers and employees
in the public service of the United States, and
of every state, county. city or township In
this broad land.
BAD FOR WoRKINGMEN.
But by far the greatest INJURY resulting
from the free coinage of silver will fall upon
workingmen. Their wages are now based up
on money of the highest value upon gold
coin Of standard value. Bnder free coinage Of
silver every workingmad can and ought to
demand enough silver Ter hrs daily wages to
be equal to the purchasing power OF his pres
ent wages in gold. The struggle between
Workingman and employer win then COM
mence, and no one knows better than the
Workingman how diflcu1s 1t lis to get an adj
vance. of pay. We HAYS strikes and strife
enough now when the HoFkingman gets his
pay In gold coin or its equivalent, but what
Will be the condition s#heh he is paid in
cheaper money of the Same snomina1 amount,
but OF less purchasing powxf9 Every sentf-
ment of justice VIII be on the side of the
workingman in his struggle for good money
or increased wages in cheap money. OF al