Sequachee Valley news. (Sequachee [Sequatchie], Tenn.) 1896-1952, 1896-08-27

used as money. 1t is for us to check
that tendency and bring the conti-
nent of Europe back to the full rec
ognition Of the value Of the metal as
a medium Of exchange.
"When we pledged the public
credit IN 1870 that our Obligations
should be paid in the standard coin
coin of that date, silver bullion was
worth in the London market a tract
ion over 60 pence per ounce; its av-
erage for the past six months has
been about "a pence, the price reck-
oned in gold in both cases. But the /
large difference is due in part to the
rise of gold rs we'll as to the tall IN
silver. Allowing for both causes
and dividing the difference, it will be
found, in the judgement Of many of
the wisest men in this country, per-
fectly safe to issue dollar, of 425
grains standard silver: and one that
anticipating the full and legitimate
influence Of reconciliation, will e
quate itself with the gold dollar, and
etfectually guard against the drain of
our gold during the time necessary
for international conference IN regard
to the general re-establishment of
! silver as money. When that general
! establishment shall be effected
with coinage of fewer grains, the
dollar which | am now advocating
will not cause loss or embarrassment
to anyone. The miner Of the ore,
the owner of the bullion, the holder
of the coin, and the Government
that issues it, will all in turn be ben
Gifted. It will yield profit on re-
coinage and will be advantageously
employed in our commercial relations
with foreign countries. Meanwhile
it will ensure to our laborers at home
full dollars pay for dollars worth
Of work.
81 think we owe this to the Amer
lean laborer. Ever since we demon
etized the old dollar we have been
running our mints at full speed, coin
ing new silver dollar for the use o
the Chinese cody and the Indian pa
riah-a dollar containing 42O grains
of standard silver, with its SUPERIOR
ty over our ancient dollar ostenta
. tlously engraved on its reverse side
TO these outside barbarians we sen'
this superior dollar. bearing all on
national emblems, our patriotic dew
, ces, our pious inscriptions, our god
) dess of liberty, our defiant eagle, on
: trust in God. This dollar contain
+ u grains more silver than the famou
f dollar of our fathers proposed to b
, recoined by the pending bill, an
NOSE than four times as many OF thes
new dollars have already been coine
f as ever were coined of all the Otht
/. silver dollars in the United State
i In the exceptional aud abnormal COZ
dition of the silver market now e.
n isting throughout the world we haV
e felt impelled to increase the weigl
e of the dollar with which we carry o
) trade with the heather nations
: Asia. Shall we do less for the An
It erican laborer at home? Nay, sha
20 we not do little better and lit
5 more for those of our blood and Of
d own freside?
4
r The bill which I now offer as
,e substi. ute for the House bill contain
r three very simple provisions;
,e 81. That the dollar shall conta
4 425 grains of standard silver, sh'
.g have unlimited coinage and be an u
N limited legal tender,
10 go. That all the profits OF t
4 coinage shall go to the Governme
le and not to the operator IN silver bl