New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-08-18
IS 1T IGNORANCE?
starving.

When senator Morgan, or AaDamI unuer-
takes discussion Of the silver question one Of
two alternatives is forced upon his readers.
Either he assumes that the voters Of the United
States are mostly fools. who will allow him 20
take advantage of their ignorance. or he HIM
self is lacking in those intellectual qualifications
which fit a man to deal with large topics The
Tribune has frequently taken occasion 10 ex-
pose the Senator's sOphistres. but so soon as one
faacy is laid bare he boDs mp serenely with an
other The latest is a long wall about the in
gratitude Of people refusing a gift from
Divine benevolencc": by which he seems 70
mean that the rejection Of the opportunity to
coin silver at the ratio of Ii to | without re-
strcton is an affrolt to the Creator, who in
tended it for AZ money" To prove his
proposition the Senator goes back TO 1.-THE dark
act of 1873" and argues that the cOnspirators
"who destroyed the standard silver dollar could
mot afford utterly to destroy silver as money
metal; therefore they invented another dol
"lar. and made 1t weigh 400 grains, 10 cause il
"to pass current with the people substitute
"fOr the standard silver dollar which weighed
"4l2ls grains They called it trade dollar
"and gave it free coinage equally with gold
This dollar, however, they limited in legaltender
quality to amounts of 81, for their main pur
pose in the enactment of that law was to re-
"duce all silver coins to the degraded condition
''of cheap money or unsound money. The
climax Of this depravty, according to the Sen
ator. was this: The trade dollars. thus de-
''privcd Of their power as legal-tender money,
"would not circulate, and they have been re-
tired" But the whole proceeding goes to show,
the Alabama statesman thinks, that silver has
Divine rights which even the gold bugs" did
not dare deny
1t is hardly conceivable that Senator Morgan
is ignorant of the facts in the case or of the
absolute dishonesty Of his pleadngs. He prob
ably knows, as well as any man in the United
States. that the trade dollar was never intended
for domestic circulation 1t was devised for use
in China and Japan, where it could only pass
at its real value. II was not and could not have
been substitute for the standard silver dollar.
because the standard silver dollar was already
more valuable than the gold dollar and was
therefore not in circulation There could be no
objection TO its free coinage. because all that
was required of the Government that it
should stamp the silver offered for the purpose
with "A certification that each individual coin
contained i20 grains OF standard metal There
was no question of ratio involved and no de-
mand that the Government should stand sponsor
for the false statement that sixteen ounces Of
silver were equal in value TO one ounce of gold.
Neither is there any objection now. on the
ground Of honesty. Ia the free coinage of all
the silver in the world. if that free coinage is
not complicated by an attempt 10 create an arti-
fetal ratio between the two metals. and to force
the acceptance of flfty-three cents worth OF
silver as the equivalent of one hundred cents
worth of gold. The trade dollar was not de-
graded or cheapened by being deprived of
legal-tender quality. for II never had, and was
never intended 10 have one and it was not re-
tired because it would not circulate here, for
it was never Intended to circulate here 1t was
retired because it was found to be a failure In
respect to the function for which it was created.
Senator MOrgans contention that silver has
rights" and that because ii was once coined
free at the ratios of II to and Ii 10 IL Is en-
titled TO perpetual free coinage AT those ratios
Is too childish 10 receive serious consideration.
1t is as II tn, senator by accepting one invita-
ton TO take Il drink with friend should thereby
commit himself To accept every invitation given
To him. one free drink might possibly do him
good one hundred free drinks would very likely
Kill him. He would probably deny that because
he once gave a quarter 10 beggar he lost the
power Of refusing TO accede 10 the demands OF