Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1896-10-27

strOycd or industry would casc. that mer
would lose their nppetitea Or that prop
| erty would cease to exist?
| But stili another question. AT whole
| sale IS cents will buy today one bushc
/ Of wheat, two bushels OF corn. three doz-
ems of eggs. Is pounds of Sranpiited
sugar, seven and a half pounds OF coffee
(ftio Standard. and ten pounds OF cot
ton lat New Orleansl. BY this we sim
| ply mean that one bushel Of wheat. u
there were no such tthing as money.
would exchange In the market by bar
ter for the amount stated of corn. eggs,
sugar. coffee or cotton
ANOTHER CHALLENGE.
5. We now challenge the free slverites
to answer this question:: VIII the pro-
portions in which these articles today ex-
free coinage of silver? Will not one bush
Ell Of wheat, apart from changes In pro-
|duction or changing demand or supply.
still exchange for 10 pounds OF cotton.
three dozens of eggs or two bushels Of
corn. whether we have free silver orsgold
recommendation? If the exchange value
free silver. II the farmer, that Is to say,
can still buy under free silver only three
dozens of eggs for his bushel of wheat,
as before. his condition Is not changed
whether or not the buShe1 of wheat costs
nominally in the terms of money. whether
gold or silver, one dollar or a dollar and
Il half If, on the other hand the silver
ties admit or contend that the exchange
able value will be altered. this can only
mean that one bushel of wheat. under
free silver. will buy more or less than 10
pounds of cotton. If this Is So then the
producer of wheat gains or loses. and the
producer of cotton loses or gains, but
the commodity in general will be no bet
ter off the gain of the one being the pre-
else measure of the loss of the other.
FREE COINAGE MEANS REPUDIA-
TION.
Free coinage would mean partial repu-
daton as TO all past debts; il would
mean imitation as to all past debts; 1t
would mean imitation as to az future
transactions. and this imitation would
practically reduce by one-half the amount
Of money now owing bondholders. pen
sioners and all creditors of the govern
ment IT would further cut in TWO Inc
debts of insurance companies. banks ana
corporations to individuals.
FREE COINAGE WILL NOT PERMA-
NENTLY INCREASE PRICE OF SILL
YER BULLION.
The claim that Mr.. Bryan Is constantly
making that the United States govern
ment. by taking all the silver bullion
offered aud making an unlimited demand
for it, VIII largely increase the value oil
silver bullion. and bring 1t up 10 its value
of p years ago Is absurd as shown by e&-
perience. In the first place, the govern
ment under free coinage would take no
silver-it would merely stamp silver
brought to 1t by the mine owner. tX-
perience has shown mat IL could MOI IN
crease value permanently. even II II TOOK
ana retained silver. AZ witness the results
under the sherman purchase law. H.
however tn. government could thus III
crease value 1t might AS well increase The
value of silver bullion so that 1t could he
coined at a ratio of one to one so that
equal weights OF silver and gold would be
exchangeable one for the other. II the
government could DO this, IL could go fur-
Their and prescribe prices for all com
modities. and we could AL he leeislated
rich In a night.
The only certain result OF the free coin
age of silver would be- that pre-sxistine
debts would be partially repudiated. that
prices would rise In the future. but that
wages would bag behind so that the bar
den of this dangerous experiment would
- was demonstrated during the green
back experience of the United States.
when prices doubled but wages remained
FAR behind.