The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1896-09-30

The use of silver as redemption
and primary money does not imply
any definite ratio, neither does it
necessarily mean free coinage at any
ratio, or indeed any further coinage
whatever. Silver could as well be a
redemption money at 81 to l as at
l6 to /. Silver could as we'll be a
redemption money under limited
coinage and government supervision
as under free coinage; as well under
purchase and coinage act as under
coinage, according to the populist
doctrine, on individual account; as
well by such use of the silver we
have as by the coinage of more sill
yer.
The resolution does not declare for
free coinage at l6 to l nor at any
other ratio, nor was it ever intended
that it should do so.
There is nothing in the resolution
declaring whether another silver dol
lar should ever be coined or not, nor
at what ratio coinage should be made
if made at all. 1t merely voiced the
belief that silver should be used as a
redemption money. And why is it
not so used? Merely because the
secretary of the treasury chooses to
pay gold. There is no law to pre-
vent the payment of government OBJ
legations, except gold certificates, in
"coin"-either silver or gold. The pol
icy of present democratic administra-
ton has been to construe ''coin" as
"gold" in every instance.
From January /, 1879, the date of
the resumption of specie payment,
until the present administration Of
Grover Cleveland, the United States
was all the time UNDER republican mon
etary laws. Every dollar was as good
as every other dollar, and there was
always gold enough and silver enough
to pay to every creditor the money
he preferred. 1t remained for the
present administration to cast so
grave suspicion on the ability of the
government to maintain the parity
of gold and silver, as to cause every
creditor to ask for gold; it also re-
NAMED for the present administra-
ton to pass revenue law that so
cut down the government resources
as to make it impossible to pay the
gold, or indeed to pay the obliga-
tons of the government in any way
whatever, except by the issuance
Of bonds. AS to the way in which a
return to the use of silver as a re.
demption money can be made, we
believe it can honorably be done
only by the restoration of confidence
in the ability of the government to
maintain the parity, and then by
judicious Interpretation of the word
"coin" as it appears in our present
laws, or else by the payment of 100
cents commercial value of silver for
every dollar of national Indebtedness
by that metal.
Concerning the coinage of silver
in the future, as the NoRTHERNER
has repeatedly said during the past
year and a half, the ideal way is by
an international agreement as to
ratio, and to such agreement the re-
publican party is pledged by its plat
form, and to it Mr.. Mckinley is
pledged by his letter of acceptance.
In event all efforts in this direction
fail, it will then be time enough for
indepe ndent action on the part of
the United States. Whether our
country acting alone could maintain
a parity between the two metals, free
coined at any ratio, is matter that
is uncertain indeed; and if it could,
that ratio must be the commercial
one. But it will be time enough to
cross that bridge when we reach it.
The NoRTHERNER believes the pros
pect is bright for an international