The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1896-08-28
FREE COINAGE OF SILVER.
Issue of Vast Importance Presented for
Consideration.

ASSue VI Nast AutpoTtAnCe fTeNtnIeu IOF
Consideration.
For the first time since 1858, if ever be
fore, there is presented to the Americans
this year a clear and direct issue as to our
monetary system of vast Importance in
its effects and upon the right settlement of
which rests largely the financial honor
and prosperity Of the country. 1t is pro-
posed by one wing of the Democratic par
ty and its allies, the Peoples and Silver
parties, to ~inaugurate the free and unlim-
tied coinage of silver by independent ac-
ton on the part of the United states at a
ratio of l6 ounces of silver to l ounce of
gold. The mere declaration Of thisp ur-
pose is II menace to our financial and in
dustrial interests and has already created
universal alarm. 1t involves great peril
to the credit and business of the country;
n peril so grave that conservative men ev-
erywhere are breaking away from their
old party associations and uniting with
other patriotic citizens in emphatic pro-
test against the platform of the Demo
cratic national convention as an assault
upon the faith and honor of the govern
ment and the welfare of the people. We
have had few instances in the life time of
the republic more serious than the one
thus presented.
No Benefit to Labor.
The character of the money which shall
measure our values and exchanges and
settle our balances with one another and
with the nations of the world is of such
primary importance and SO farreaching in
its consequences as to call for the most
painstaking investigation and in the end
a sober and an unprejudiced Judgment at
the polls. We must not be misled by
phrases nor deluded by false theories.
Free silver would not mean that silver
dollars are to be freely had without cost
or labor. 1t would mean the free use of
the minis of the United states for the few
who are owners Of silver bullion. but
would make silver coin no frccr to the
many who are engaged i'll other enter
prises. 1t would not make labor easier,
the hours Of labor shorter. or the pay bet
ser. 1t would not make farming less la
boriOus or more profitable. 1t would not
start IA factory or make IA demand for an
additional days labor. 1t would create no
new occupations. 1t would add nothing
to the comfort of the masses. the capital
Of the people or the wealth of the nation.
1t seeks to introduce IA new measure of
value. but will add no value TO the thing
measured. 1t would not conserve values.
On the contrary, it would derangc all ex-
listing values. 1t would not revive bust
ness confidence, but its direct effect would
be TO destroy the little which yet remains.
What Free Coinage Means.
The meaning of the coinage plank
adopted at Chicago is that any one NAV
take "A quantity of silver bullion now
worth 81 cents to the minis Of the United
states, have it coined at the expense Of
the government n receive for 1t a silver
dollar which shall be legal tender for the
payment of all debts. public and private.
The owner of the silver bullion would get
the silver dollar. 1t would belong to him
and nobody else, Other people would get
1t only by their labor, the products OF
their a or something of value. The
bullion owner. on the basis of present val
ues. would receive the silver dollar for SO
cents worth Of silver. and other people
would be required to receive IL as a full
dollar in the payment of debts. The gov
would get nothing from the
transaction. 1t would bear the expense OF
coming the silver and the community
would suffer loss by it's use.
The Dollar. Compared.
We have coined since 1876 more thai
4Uo,OO,OO0 silver dollars which are main.
tanned by the government at parity with
gold and are IA full legal tender for tn,
payment Of all debts, public and private
How are the silver dollars now in use diff
ferent from those which would be In us.
under free coinage: They are to be of IN,
same weight and flneness; they are I,
bear the same value: l answer:
The silver dollars now in use were coinet
IN account of the government and not fo
private account OF gain and the govern
nnnt has solemnly agreed to keep them a
I'D as the best dollars we have. TIL,
eminent bought the silver bullion q