Marble Hill press. (Marbel [sic] Hill, Mo.) 1881-1923, 1896-01-30

to have been badly hurt by the article
which appeared in this journal Oh the
goth day of November under the cap
ton Of "A Wise Paper In its issue
of Nov. IS i. says;
There is a screaming organ of the
silver propaganda published in Chicago
called the National Bimetalist. 1t is
one of those penny pamphlet concerns
that deal in low-grade demagogy
bordering on socialism, prints scare
crow pictures showing the oppressed
laborer under the heels of the ogre
capitalists, and urges, as means Of
leYeling up matters, the bringing Of the
daily toi,er and the mulJi-millionaire
to the same plane and making every
body rich and happy BY the free and
unlimited coinage Of silver at the ratio
Of Is to l."
The foregoing is reproduced for the
purpose OF enabling the readers OF the
National Bimetallist TO make a mental
estimate of the all-pervading dignity,
delicacy and accuracy Of expression
which mark the great campaign in the
interest Of Sound" money.
If one word has crept into the col
umns Of this paper even remotely suS-
gesting that the restoration OF silver
would bring the multi-millionaire and
the daily toiler to the same plane, or
make everybody rich and happy, it has
entirely escaped the notice. of the edi-
torial management. The National BIZ
metallist knows fully as we'll as the
Banner, that under any system OF
finance there will be rich people and
poor people. But, differing from that
advanced 90 and progressive % jour
nal, it is not able to perceive the mer-
its of 4 system which is constantly
widening ne gulf--which is converting
the millionaire into a multimillionaire
and the daily toiIer into pauper.
There is so much OF "demagogy' in
this paper that it can see no merit in
monetary system by which the value,
that is the purchasing power, OF the
dollar" is all the time increasing,
thus swelling the wealth Of those who
own and control the money Of the world
at the expense of the toilers, producers
and debtors. We plead guilty 10 just
that kind of "demagogy.'
In the article which brings a vail
Of distress from the Banner attention
was directed to its claim that under
free coinage our currency would be re-
duced in volume and at the same time
only be worth so cents on the dollar.
The particular language used by the
Banner and criticised BY this PAPER was
the following:
Under free coinage the S500,000,0 900
in silver now eXtant would shrink to
half that sum in power to purchase, and
there would be no other money in the
country but silver
After reproducing portion of our
article the Banner proceeds to defend
itself, which it does in the following
genteel, intelligent CO and satisfactory
way:
The statement quoted from the Ban
ner is not in any sense new. The prime
arguments against free coinage are that
it would drive gold from the country
and cause a reputation Of debts. That
is all that is said in this extract from
a Banner editorial. Under the silver
standard a silver dollar would be worth
only its weight in silver, as a gold
dollar is now worth its weight in gold;
and that is only half the present value
of the silver dollar.
THE Banner did not say that there
would be no other money in the country
but the silver now eXtant. The state
ment is there would be no other money
in the country but silver which is
very different.
Secretary Herbert is also miserably
misrepresented in the Bimetallist's ar
ttcle. He used confederate money tc
illustrate the futility of a large pei
capita circulation if the currency were
uns0UCl.
There is no country on the globe
where silver is coined free that has q
per capita circulation of SO, and it is
not probable that the same system Of
finance would increase the circulation
in the United States. 1t would keep the
minis grinding at their full capacity fol
several years to turn out an amour
of silver coin equal to the gold tina
would inevitably disappear.
but this article from the Chicag'
publication is reproduced not so mucl
for the purpose of refuting its absurt
assertions as to show what kind o
literature is still being circulated in be
half of the free coinage cause"
The editor of the Banner may res
his gentle and scholarly soul in pa
tience. This paper never suspected hin
of advancing a new" idea; nor 70
that matter of having any ideas at al
that extend below the surface Of tn
question.
The gold people claim, and the Ban
ner agrees with them. that upon the OF
adjustment OF free coinage gold woul
Immediately retire from our circulation