The record-union., 1896-09-10
Weather Forecast.
Northern California-Fair; warmer
Thursday; fresh northerly winds.
THERE Is ANOTHER WAY.

1t Is becoming daily more and more
apparent that the people are beginning
to see that free coinage at a fixed ratio
OF 16 to 1 Is not the choice as against
no expansion Of the volume Of silver at
all. We have shown that there are other
ways Of accomplishing the common de-
sire. 1t is conceded that an increase
In the volume Of the silver coinage for
domestic uses may be had and should be
had. Moreover. it is becoming clear to
the people that this can be done without
dapreciating the currency by so much
as mill. and 1t can be done, and In all
probability viii be under some suoh plan
as this. namely:
Order to coinage all the surplus silver
in tha treasury. That viii at once put in
to circulation something over S1OO, ,OOO,-
600 Of silver dollars. At the same time 1t
VIII raise the volume of such issue to
between $500. .0OO,00 and S600,0OOO0
Contsmporaneously with that legisla-
ton, which surely no silver man in the
land save the mine owner millionaires
can or will object to, order that all sal-
yer coin of the United States shall be
legal tender to the extent Of $50, and
that no gold shall be coined or paper
or obligation based on gold issued In
denominations Of less than 500. That
the weight Of silver may not hamper
the transactions Of business, let a silver
note of the denomination of $40 issue.
All this coinage will be. Of course to
Government account, as 1t will be the
bullion of the Government that Is to be
handled. Now note what Will be the
result Of such action, and which the Re-
publican platform and pledge do not
antagonize. 1t viii give us silver to the
full extent Of domestic uses It Will
keep gold on an even keel and In ample
supply for our trade abroad and at
homo. 1t will not depreciate or cheaper
the coin Of the nation, nor impair credit
here or without our borders. 1t will
initiate no values and work no repudia-
tion Of debt or obligation.
1t will make every dollar as good az
any other dollar bearing the Govern
nent sign manual
Why Is our silver coinage now at par?
Because 1t Is based upon gold, and Is
thus prevented from being discredited.
That silver bullion is cheapened to-day
Is not because gold has appreciated, as
the silver orators are pleased to affirm,
but because Of wholly unrelated rea-
sons. 1t Is low for precisely the same
reason that influences the price of any
other product Of which there Is over
abundance.
The radical silver mon propose to use
coinage as legislative lever to lift the
bullion to the ooin value, but they can
point to nothing to fortify the theory
that this can be done But 1t Is desirable
TO have more silver money. and there is
no sort of danger In greatly enlarging
its volume. so long as gold is not there
by demonetized and the prop beneath
silver coinage that keeps II at par Is
kept In place. We have shown that sill
YER coin can be kept at par as now,
and the volume greatly enlarged with
out free and unlimited coinage at 16
10 /. The plan outlined will give us
par value silver money to pay domestic
obligations. reward labor and buy
products while we will have par value
gold money to meet the necessities Of
foreign commerce and maintain the pur-
chasing capacity Of the silver dollar.
II viii do far more to advance the price
Of silver bullion than will free coinage
at an unnatural ratio. 1t will not dis
turb values, threaten contracts or men,
ace credit The silver and the gold dol
lars will still remain equals before the
commercial home market and the whole
silver question will be settled, for this
plan suggested will not interfere with
the promotion Of q wise plan to secure
international agreement as to the coin
value Of 20 many grains Of silver to the
dellAr.