The Delta independent., 1896-09-02
nekiaisy's Acceptance.

last osfore the puoiic and on the none
tary question he says:
Tho character OF the money which
shall measure our values and exchanges
and settle our balances With one another
and with the nations Of the world, is OF
such primary importance and SO far
reaching in its consequences a. to call
for the most pliustaking investigation,
and in the end 4 sober and unpreiudicsd
judgment At the polls. We must not be
misled by phrases, nor deluded by false
theories Froe silver would not mean
that silver dollars were to be freely had
without cost Of labor. 1t would mean
the free use OF the mints OF tho United
States for the few Who are owners OF sill
YER bullion. but would make silver coin
no frser to the many who are engaged in
other enterprises. 1t would not make
labor easier, the hours OF labor shorter
or the pay better. 1t would not make
farming less laborous or moro profitable
II would not start q factory or make q
demand for an additional days labor
1t would create no new occupations. 1t
would add nothing TO the comfort OF the
masses. the capital OF the people or the
nation. 1t socks to introduce . new
measure Of value but would adj no value
to ths thing measured. 1t would not
conserve values. On the contrary, il
would dersnge all existing values. 1t
would not restore business confidence,
but its direct eject would DO to destroy
the little which yet remains.
The meaning OF the coinage plank
adopted at Chicago, is that any one may
take q quantity Of silver bullion now
worth 50 cents TO the mints OF the United
States. have it coined at the expense OF
the government and receive for it sill
yer dollar. which shall be legal tender
for the payment u all debts. public and
private. The owner OF the bullion would
get the silver dollar. 1t belongs to him
and nobody else. Other people would
get IL only by their labor. the products
Of their land or something OF value. The
bullion owner on the basis Of present
values would receive the silver dollar for
So cents worth Of silver and other people
would Be required to receive it - full
dollar in the payment Of debts.
The government would get nothing
from the transaction. 1t would bear the
expense Of coming. the silver and the
community would suffer loss BY its use.
We have coined eince 1878 more than
ioo.Uo0.ooo OF silver dollars which are
-, amt .;,..1 ~ th> ~o...o.,~rs - -..:s-
with gold and are full legal tender for
the pay msnt OF all debts public and pri-
vatc.
How arc the silver dollars now in use
different from those which would Be in
use under frse coinage! They arc to bs
OF the same stamp OF the government.
Why would they not be OF the same
values l snswer: The silver dollars
now in uss were coined on account of the
government and not for private account
Of gain. and the government has solemn.
ly agreed to keep them as good as the
best dollars we have. Tho government
bought the silver bullion at its market
value and coined it into silver. Having
exclusive control Of the mintage il only
coins what it can hold at a parity with
gold.
The profit representing the difference
between the commercial value OF the sil.
yer bullion and the face value OF the sill.
yer dollar, goes TO the government for
the benefit Of the people. The govern
mcnt bought the silver bullion contained
in the silver dollar at very much less
than its coinage value. 1t paid it out to
its creditors and put it in circulation
among the people at its face value OF 100
cents or full dollar. 1t required the
people to accept il - legal tender and
10 thus morally bound TO maintain IL at
. parity with gold, which was then as
now. the recognized standard with us and
the most enlightened nations Of the
world. The government having issued
and circulated the silver dollar, it must
IN honor protect tho holder from loss.
This obligation il has 30 far sacredly kept.
Not only 10 there a moral obligation. but
there is = legal obligation expressed in
public statute 10 maintain the parity.
These dollars in the particulars have
named are not the same - the dollars
which would be issued under free coin
age. They would he the sane in form.
but different in value. The government
would have no part in the trapsaction.
except to coin the silver bullion into dol
lars. II would take upon itself no obli-
gations. 1t would not put the dollars in
to circulation. 1t could only get them as
any citizen would get them, by giving
something for them. 1t would deliver
them 70 those who deposited the silver,
and its connection with the transaction
there ends. Such arc the silver dollars
which would be issued under free coin