The Providence news. (Providence [R.I.]) 1891-1906, 1896-10-05
JUsr SUPPOSE.


coinage free, unlimited and Independent,
and the effect OF such action on this
country. He says that he has been
"stumped" by the question and he wants
an answer to arm himself with.
The almost inine diote effect of the
adoption OF such a coinage law would be
that this country would 60 on silver
basis. This reply may be in the nature
OF a "glittering generality" but it is
worth bearing in mind because the Chi
cago plat form decl;r.s; "We are unnl-
teraby opposed to mo nometallism,
which has locked fast the prosperity OF an
industrial people In the paralysis OF hard
times" before it proceeds to declare
that "gold monometallism IL British
policy, and it's adoption mas brought
other nations into financial seryituoe 10
London" The point IL, however, that
the Chicago platform explicitly declares
against onometsllism-silver, monomet-
allsm not less than gold monometal-
lism, though BILLY BR YAM continues to
proclaim That he is preacher of bmetal-
lism, which, of course, he Is not.
How would tn e country be placed on
silver basis-with silver as the standard
of our monetary systom, a staudard sub
ject to the market price OF silver and to
the fluctuations thereof--a cheap and
uncertain standard? Just what will be
the process?
There are perhaps $500, 900, oOo OF gold
in this country. OF course, everybody
that could get it would want It. Under
free and unlimited coinage law it would
be worth only 100000, coo silver dollars,
instead OF i. 600, 900. 900 silver dollars, as it
is today at the present bullion price Of
silver. What rush tnere would be for
that goldi 1t would bo the biggest con-
test for the handsomest prize on record.
"Here you GO! Gold dollars at half
pricoW Whewl Talk about your mark
down salosi "Gold dollars for 60 cents
apiece-going going p'-and wouldn't
they be gone before you could say Jack
Robinson The European nations OIL
ready hold 81, 500, 600, 600 in silver money.
would't they just Jump at the chance to
send this silver TO our ints, have II
melted down and stamped into American
dollars and then change them for Ameri-
can goldi That $500, 900, 900 gold of ours
would only satisfy one-third Of such
demand aud 1t would melt away.
OF course our inquirng reader IL he had
managed to possess himself OF any gold
at such ridiculous valuation, no matter
II our government did tell him that 16 to
silver dollar Was as good as any dollar;
neither would BILLY BRYAN. II he had a
little gold in his safe exchange it"eveD,"
dollar for dollar for Uncle Sans silver
oollsrs SO coined, nor could an other in
divldual In his senses be induced to part
with his gold Tor silver dollars the weight
of which represented only half their
stamped vnlus-nay nay, nor even IL I'm
Gle Sam, compelled by law, stamped
those silver dollars 500 instead of "one
dollar" would We let our gold go-sup-
posing we had gold to let go. Not muchl
In the slang of the day, not on your tin
typel Moreover, We would, providing
we had the means, follow the advice OF
BILLY BRYAN himself, who as editor OF
the Omaha Wood Herald, is to be credited
with the following sage suggestion from
the columns Of that newspaper as printed
Just before BILLY'a retirement TO run for
the Presidency o IN all over the coun-
try for 1t:
every one who mas money at his dis
posal can protect himself against loss
through free silver by converting his
money into land, houses aud merchan-
disc a various kinds" (lncludiug of
course, good yellow gold). II, besides, he
borrows more money and uses IL for the
purpose he will make a profit on the
transaction at the expense OF the man
from whom he Dorrows.'
But none OF this applies to Uncle Sam
who can make no such investments and
who would be as unable to borrow money
as would the average wage Garner. Poor
Uncle Sam would nave to give up his
gold dollar for dollar, for silver, without
any appeal to a. value. Uncle sam would
say TO the rest OF the world: "Here - my
gold will give itnp at the rate ol piece
for i6 pieces OF silver" And as the rest
of the world could not get but half
piece oil gold for l6 pieces Of silver any.
where else the rest Of the world would