The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-08-31

silver coin no freer To the many VINO ais
engaged in other enterprises IL would
not make labor easier. the hours of labor
shorter or the pay better. IL would mol
make farming less laborions. OF NOR
profitable. ltwould not start a factory OF
makea demand for an additional DAY
labor. IL would create no new occupa
tons IL would add nothing to the com
tcr, Of the masses. the capital II the pa,
ME or the wealth ~ the nation. 10 sees'
10 introduce = new measure 81 value, oS'
would asd no value % the thins ineSs
ur,,d In would not conserve values OF
ths contrary. II would deraase 81 exist
ins values IL would not rcstorS business
confaence. but it's direct e1cct would n
So destroy the little which yet rcmains
Meaning % the Coinage Frank
IN. rnrAnins % the coinage plank
ssocteA Al CAioAyo Is that any one may
49, a Quantity 90 silver bullion nov
ro-fs IS cents a. the mints 81 The United
Stat4. have il coined 81 the expense q ths
government ana r~celvs for IL = silver dol
La which shall be legal tender Tor ths
x,Vnszt u a. debts pGslis and private.
The owner % the silver bullion would eel
TIA silver dollar Ia would belong % him
.nS n noacay else. Other people would
s,rt A only oy their latOr. the protacts 81
their land. ~ melting 81 value, Ine
bullion owner on the ossis ~ present val
,,es xouia receive the silver dollar Tor ~
osnrs worth 81 silver, and other people
would Re required 20 receive IL as fun
dollar in the payment Of debts The gov
.rnrueut would get nothing from the
rrsnsction. IL would bear the expense
Of coming the silver and the community
would safer loss by its use.
We have coined since ISIS more than
son 900 Of silver dollars, which are
maintained by the government at parity
with gold. and are full legal tender for
the payment Of all debts, public and private.
How are the silver dollars now In use dif'
ferert from those which would be in use
under free coinases They are TO be OF the
same weight and fneness; they are 10 bear
the same stamp OF the government
why the value Would he Different.
Why would they not be of the same
yaluei answer: The silver dollars now
IN use were coined on account OF the gov
eminent and not for private account OF
gain. and the government has solemnly
agreed 10 keep them as good as the oes'
dollars we have. The government bought
the silver bullion at it's market value and
coined il into silver. Having exclusive
control OF the mintage IL only coins whas
IL can hold ~ parity with gold. The
profit representing the difference between
the commercial value OF the silver bullion
ard the face value of the silver dollar goes
10 the government for the benefit OF the
people The government bought the sill
yer bullion contained in the silver dollar
at very much less than its coinage value
II paid il out TO its creditors and put 1t II
circulation among the people at its fac'
value Of 100 cents, or full dollar. IL re
quired the people TO accept it rs lega
tender and Is thus morally bound To main
tain il at a parity with gold, which wa
then as now, the recognized standard witt
us and the most enlightened nations o
the world The government having issue
and circulated the silver dollar it must i
honor protect the holder from loss. Thi
obligation it has so far been sacredly KEEP
Not only is there n moral obligation bu
there Is legal obligation, expressed
| public statute, 10 maintain the parity.
Could Not BE Kept at Far.
These dollars in the particulars 1 hay
| named are not the sIme as the dolla
| which would be issued under free coinag
| They would be tn same in form, but oil
| ferent in value. The government wou
have no part in the transaction except
| coin the silver bullion into dollars.
| would share in no part of the profit.
/ would take upon itself no obligatio
| 1t would not put the dollars into circul
| ton. 1t could only get them as any CT
zen would get them-by giving somethir
| for them. 1t would deliver them TO tho
who deposited the silver, and its co
nection with the transaction there en-
Such are the silver dollars which would
issued under free coinage of silver at
ratio OF Is To l. VINO would then ma
tain the parityY What would keep them
par with goldy There would be no OBJ
| CATION resting upon the government TO {
| it. and if there were il would be powerle
TO doit The simple truth is we would
driven TO IA silver basis-to silver mon
metallism These dollars, therefore, won
stand upon their real value. II the fr
and unlimited coinage of silver at rat
| OF sixteen ounces of silver TO one ounce
| gold would. as some Of its advocates q
sert, make So cents in silver worth !
cents and the silver dollar equal To &
gold dollar, then we would have
| cheaper money than now and it would
no easier TO get But that such would
the result is against reason and Is co
tradicted by experience in all times and
all lands. 1t means the debasement
our currency TO the amount OF the diff,
ence between the commercial and co
value of the silver dollar which is ey
| changing, and the effect would be To
duce property values, entail untold fina
cial loss, destroy confidence, impair I
obligations Of existing contracts, furth
impoverish the laborers and producers
the country, create panic OF unparallel
severity, and infllct upon trade and col
merce deadly blow.
Opposed to That Kind of Policy.
Against any such policy i am una
terably opposed. Bimetallism cam
be secured by independent action
our part. 1t cannot be obtained
opening our minis TO the unlimit
coinage of the silver OF the world at
ratio Of sixteen ounces of silver to o
ounce of gold. when the commerci
ratio is more than thirty ounces OF =
yer TO one ounce of gold. Mexico a.
China have tried the experiment Me
leo has free coinage Of silver and &c
at a ratio slightly in excess OF sixte
and a half ounces Of silver TO one oun
of gold, and while her minis are free
open To both metals at that ratio. no,
single dollar in gold bullion is coin
and circulated as money. Gold has be
driven out of circulation in these cou
tries and they are on silver ba
alone. Until International agreeme
is had IL is the plain duty Of the Unit
States TO maintain the gold standa
II is the recognized and sole standa
OF the great commercial nations of I
, world, with which we trade more lars
ly than any other. Eighty-four per ce
of our foreign trade for the fiscal "
1895 was with gold standard countr
and our trade with other countries "
, settled on a gold basis.