The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1896-03-06

UNDER FREE COINAGE WOULD
BE INTRINSIC" AS GOLD.
she Vphoid~rs Of the British Single
Gold standard Know This aud Avoid
the Essential foint--A Very Wise
Editor In the Financial Jungiea

/ With only rare exceptions the gol
!. champion stoutly denies that under fire
r coinage by the United States. silve
would rise in value
Ridiculous as the denial is. there /
4 nevertheless method in IT, The averag
, sold-bug advocate may not possess
1 very thorough knowledge OF the sub
D ject over which he WAKES SO eloquent
{ OUT he has sense enough TO know tha
ne moment he admits a rise in silver
o follow free coinage. he practically
'urrenders his case and admits him
! ltelf out of court"
The very essence OF the argument In
iavor OF the gold standard is that the
alue OF gold Is intrinsic" and the in
Ifallible proof of its value is that the
DIN may be melted down or hammered
into shapeless mass and it's value re-
main unchanged. From this they argue
that the value of gold is wholly indie
pendent OF coinage laws. The fact that
ne shapeless mass OF gold is only equal
n value 10 coin OF the same weigh:
because the government stands ready TO
recon II without charge. is cunninely
ept concealed in the back ground,
These people know that the moment
hey admit that free coinage will raise
he value OF silver BY necess 4ry impli-
alton. they concedc that free coinage
factor in keeping up the value OF
gold. and also that the closing of the
pressing its value. SO by the exigencies
of their situation they are forced to fly
directly into the teeth OF the law OF
supply AID demand and insist that the
value OF both gold and silver is alto
'ether independent OF coinage law.
The Portland Oreeonian has always
acen an extreme devotee OF the gold
'tandard. but in a recent Issue il made /
u awful blunder. Replying 10 cores
pondent who had taken the position
mat the free coinage of silver would in
crease the demand for il and conse-
luently raise it's value. that paper said:
III the United States should enact free
oinage OF silver. ii would create there
BY strong demand for silver. not an
IN United demand and this demand
would. OF course. cause some rise in the
'rice- how much. IL is impossible to
ell. The supposition that by law he
lnited States could establish definite
rice greatly in advance Of that new
nling, is absurd. Ii is unques ionable
hat so great a demand by so powerful
n % "a,
err and the violent fluctuations of
pecuiative and unnatural market .
night be expected II is equally GER
ain. too, that substitution of the silver
tandard for the present gold standard !
iould instantly follow. nay. would an .
Icipate the passage OF the act. just so
BON as it was understood that 1t would =
ass. attended by a chaos In money az u
hrs that would produce general ruin.
he world would eradua ~ settle on a
ew value for silver. or rather some
ew approximation TO value. about
hich prices would fluctuate. We
lould part with our gold nut silver in
s place, and our money would rest on
Re silver basis. The dollar would
robably be worth something more than
ny cents. but would fall far short OF X
ne hundred cents. We should MOI have a
metallism but simply silver mono
etallism. Otherwise we must suppose il
Q could double the value Of all the sill h
n in the world by an act Of congress" a
That admission effectualy disposes Il
the "50-cent dollar" cry. for the Ore
'nian cautiously acknowledges tina; n,
would be worth something more" \,
ut why so cautious? II free coinage !,
7 the United States will create "a -
rong demand" for silver, and the bull.
IN value Of the silver dollar Is already
birth more than fifty cents. may ii not .
silly come to pass that the silver dol .
VIII be worth great deal more than - -
~ cents? II free coinage will raise
value OF silver at all. why should Ii '"
Dp far short of 100 cents" as the ~
egoDian puts it? OF
With the American mint open what q
ould prevent silver bullion from at =
&c springing 10 81. 20 1.-THE mint rate). -
itch would make the dollar worth 100 :"
nts In gold? Just one thing: an ex- -
ssive quantity. quantity beyond the :"
sorbing capacity OF the United States. "
Ill the Oregonian kindly tell us how -
ich silver bullion there Is now In the :"
rld's markets? Will 1t then vouch-
e the inform alton how much OF that Se
uld be likely to find Its way to the ~
nerican mint? Does II imagine that ~
order to sustain silver at our mint ~
q all the silver in the world must be az
ned into American dollars? Does 1t VI
nix that the moment our mint IL 70
med. all tho rest o the world Is going
stop using silver? Does II not know '.'
i when we improve the status OF the 81
tai by restoring II to its former DO sr'
on In our monetary system. other w
Intries will use more OF IL?
3 1t possible that the Oregon an does "o'
know that with our mint open to
'er at the rate Of Sl.29 an ounce. an