The Portland daily press., 1896-07-24
(Atlanta Journal. J

lanta, Gentleman who Is Heartily in
Favor of 16 to Money Platform.
ATLANTA Journal
Alexander p. Hull, of Atlanta. ia a
strong 16.to-1 man. He does not believe
in halfway measures. The free-coinage-
of-silver idea is too tame for him. He is
willing to see the silverites and go them
100 points better. Here are his deolara-
tions, proposition and arguments:
"Having been deeply impressed by the
arguments of Judge Crisp, Bryman.
Stewart, Jones and other silver leaders
and especially grieved, shocked and hor-
rifed by the lawful crime of 1878, as 30
luridly depicted daily in the columns of
the Atlanta Constitution and other sill
yer organs, have changed my views on
the money question, and am ready to
maintain the propositions following in
joint debate OF newspaper fcontroversy.
81 accept the arguments of the advo-
Gates of silver and agree with their RENE
dy 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. I am In favor of the free
and unlimited coinage Of D ig iron at a
ratio of IS to with gold by 1.-THE United
States alone, Independently of all nations
and can prove by the best authority eb-
tainabls that such policy on the part of
the United States will raise prices, put
plenty of money in circulation and give
the honest debsor chance q to pay his
debts, thereby making the whole ooun-
try prosperous.
"Now, in the first place, it may be
urged by some who do not understand the
subject of standards of values that free
coinage act for iron would not raise its
price to ratio of 16 to 1ewith gold. To
them / reply that the stamp of this gov
eminent and the legal tender qualities
of the iron dollar would instantly make
the bullion value of pig iron the same as
the mint value. For who would part
with an ounce of this precious smetnl for
anything else than the mint value?
(Stewart, Jones and Bryan
Again, it may be urged that our mint
would be overcrowded with pig iron.
I reply that the price of pig iron having
been raised from 81. 80 q ton to ratio OF
16 to l with gold the world over, no one
would especially care to carry it to the
mints, since the mint price could be OBJ
tanned anywhere in tie open market.
ATLANTA constitutional Next it may be
urged that gold and silver would go out
of circulation. reply: First. This issa
| mere assumption of the tools of the
money power which they cannot verify
ATLANTA Constitution); second. Sup
pose gold and silver do go out of oirou la
La g. Ak,@..- w%1- "a -
take their places and give the people
lots of money! (Bryan); and, third,
Such an assumption mixes the ideas OF
circulating medium and standard of
value; gold and silver would still be po-
tential money metals. though not in cir
culation. and would lend their help
toward raising prices and causing gen.
eral 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 toswork for 81 a ssday who could
mako $1,000 per day picking up rusty nails
and old horseshoes and carrying them to
the mint for coinage (HulD.
In addition il may be urged by the
money power, by the Wall Street sharks
and the Bond street Shylocks, that we
could not alone go on a pig-iron basis
without an international agreement. 10
such dastards as dare to lay limit to
the power of the American people to DO
whet they please Independently of all
nations, hurl their oowardice and lack
of patriotism back in their faces.
(Bryan.)
s'The 'crime' of demonetizing pig iron
took place about 2,2G0 years ago, when
certain sgoldolators' and 'silverites, In
order to increase the purchasing power
hot 1 ~zot%
like thieves in the night, got the demone-
uization act passed repeating 1.-The good,
old free coinage act of Lyourgus. the
friend Of our ancestors 'daddies. To-
day China is the only country ON earth
honest enough to coin iron, and there
the happy laborer can carry homo the
wages of his honest toll in wheel BAR
row. Atlanta Constitution.
ga ruinous fall in prices followed the
decentralization Of iron, and has contn-
ued for upwards Of 1900 years. I have
calculated the losses entailed upon the
honest people of this world by that ruth
less act, but the figures are SO enormous
fear a revolution will ensue If tho
people learn how greatly they have been
robbed. But facts are facts. and the best
way TO right wrong is to meet it
sqnarely. THAT loss is SCI, 900. 600. 600,
600, 600, 600, 0oo 600, 600. 600. '-Coin's Finan-
cial School.
''In conclusion. insist that the free
coinage of pig iron will do everything
that is claimed for silver, aud Infinitely
moro. The people will be rich and pros
porous. Tho once poor man can pay his
debts with an old stove. Railroads can
out rolling stock The small boy can
pick up old nails and horseshoes enough
to support his family. In fine, poverty
and debt no longer can exist ~