The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1896-07-30
in their effort to carry OUT their wishes.
Edward Atkinson.
ATKINSON on COINAGE.

give his observations on the present con-
ditiOn of the sound money contest. Mr..
Atkinson expressed his willingness to do
so. saying however, that in his judgment
the logic of events had already brought
the final conclusion into effect, and that
the day of reasoning or of economic dis
cuSsiOn had gone by.
Would it not be well. Mr.. Atkinson,
to define the difference between good
money and bad money!
Henri Cernuschi, the ablest adyO-
cate Of international bimetaliism. has
made the only true definition by which
one can stand in tn following words:
1T is by the ordeal o. fire that money
can be tried. The coins which, being
melted down. retain the entire value for
which they were legal tender before they
were melted down are good money.
Those which do not retain it are not good
| money"
"Then you hold that the silver miners
and the senators and representatives
whom they retain in their service are al
lied in an effort to force bad money upon
the people of this country!
"Assurcdly; their motive is hardly
concealed. and some of their attorneys
in the senate and in the house have
avowcl that purpose, like the senator
| with whom | once undertook to argue
upon the question, whose reply was
that he didn't believe in the damned rot,
| but had got to vote for it,"
"IIaye you given any thought to the
real cause of this course on the part of
the owners of silver mines"
at is not necessary to give much
thought to that. The bullion value of the
product of the silver mines last year was
| II little over 100000. 600 in gold Its
coinage value ut 1G to 1 was over $780,
100000 in gold. That profit of about
$3O,O0O,00O is the objective point of the
| owners of the silver mines and their re-
tancrs in the senate and in the house
| of representatives. In order to get that
profit they are expanding large and in
| crcasing sums of money III the effort to
mislead the community and to cheat them
| by forcing cheap or bad money upon
them by acts of legal tender. A leading
senator, who is the advocate of the mine
| owners, has announced that if the repub-
lican convention does not submit to the
dictation Of himself and his associates
| they will leave the convention. Any at
tempt to compromise on this issue be-
tween good and bad money will meet the
fate of all such efforts to fend off the
final decision"
''How do you meet il!
'The way to expose this fraud of bad
money" Mr.. Atkinson replied. sis very
simple one. The pretcXt of these bad
money advocates is that the coinage of
silver dollars ut 1G to l should be as free
as the coinage of gold dollars. and that,
by itself. can be agreed to. Coinage is
nothing but the manufacture of round
disks of metal, stamped and certified.
There is no danger in free coinage"
"Where is the danger?'
'The danger lies in the effort of these
supporters of free coinage at 1G to 1 to
force cheap 5O-ccnt dollars upon the com
munity by an act of legal tender. The
moment any one offers to any of these
people to agree to free coinage without
an act Of force or legal tender by which
they may compel uniformed people to
accept these dollars, they Immediately
give up their case; they will not accept
free silver dollar coinage without the
power to force them upon the people.
Their purpose is to deprive the commune
ty of its liberty of choice. Their OBJ
jcct is to establish Il privileged class.
THAT privileged class would consist
of the owners of the silver mines when
empowered by law to have their bullion
which costs them less than 30 cents on
the dollar in gold, coined into dollars.
and to force the community to accept
these dollars of full legal tender at the
rate of 100 cents in gold. The moment
the fraud of such cheap money is expos
ed as it is now being very rapidly expos
ed, that moment the danger ceases. 1t
is now manifest to every one that the
whole community is aroused; that intelli-
gent men have found out the trick; that
this attempt to impose cheap or cheat
money upon them will be defeated. and
that the candidate who lends himself
either by declaration or by silence, to
this conspiracy, will be defeated if ever
nominated.
''The time of discussion and reasoning
4
end of the irreprcssible conflict is now in
sight. Bad money is condemned; good
money. meeting the admirable definition
of CcrnuSchi-good money consisting of
coin which is worth rs much after it is
melted rs it purports to be worth in coin
is to be maintained as the single lawful
unit of value of this country. When
that verdict has been pronounced in I'M
mistakable terms the present paralysis of
trade will end.
ut has taken many years to bring the
public to this conclusion, but any person
capable of dealing with and observing the
logic of the case and knowing the course
of events has long been as certain that
this conclusion would he finally reached
as he is now that the time has come for
its attainment The timid and time
serving candidate will go to the wall, and
the man who has the courage of his con
viCtiOnS. who will he elected president
whether nominated by either of the exist
ing political organizations or by Il third
party if it becomes necessary to break
the two existing organizations.
According to my observations this de-
cision. which has been reached all over
the country under the pressure of hard
ships, has gone far beyond anything that
the political wire-pullcrs, especially III
Washington, suspect
THE effort to pass bad money upon this
people has failed; it is Il lost cause. ana
the date of complete surrender will come
when the will of the people, now being
aroused north. south. east and west. has
uttered its decree. But it is not safe to
forego action 1t is necessary to move
the forces on the line of good money If 1t
costs Il whole seasons depression of bust
ness.
This is the final contest in which the
advocates of bad money are not only to
be defeated. but forced to absolute, final
and unconditional surrender When that
surrender comes the elements of progress
which are now gathering in this coun-
try will give such impetus that few can
even imagine it. Everything is ripe for
enterprise, energy and material welfare
all kept back by the disgust with which
the advocates of bad money have infected
the community"
-<--------