Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1896-08-06
IRON AT SIXTEEN TO ONE.

Alexander p. Hull, of Atlanta, is a
strong 16 to l man. He does not be-
lieve in half way measures. The free
coinage-Of silver idea is too tame for
him. He is willing to see the silverites
and to 60 them 100 points better. Here
are his declaration, proposition and
argument:
Having been deeply impressed by
the arguments of Judge Crisp, Bryan,
Stewart, Jones and other silver leaders,
and especially grieved, shocked horri-
fled by the awful crime of 1873 rs so
luridly depicted daily in the columns
of the Atlanta Constitution and other
silver organs, have changed my views
on the money question, and am ready
to maintain the propositions following
in joint debate or newspaper contro-
versy.
IL accept the arguments of the advo-
Gates of silver and agree with their
remedy as far AS iC goes. However, it
does not go far enough. Let us have
plenty of remedy-in fact, enough to
make debt and poverty things of the
past, relics of the dark ages. am in
favor of the free and unlimited coin
age of pig iron at ratio of Is to
with gold by the United States alone,
independently of all nations, and can
prove by the best authority Obtainable
that such policy on the part of the
United States will raise prices put
plenty of money in circulation and
give the honest debtor chance to pay
his debts, thereby making the whole
country prosperous.
"Now, in the first place, it may be
urged by some who do not understand
the subject of standards of value that
a free coinage act for iron would not
raise its price to Il ratio of Is to l with
gold. TO them reply that the stamp
of this government and the legal
tender qualities of the iron dollar
would instantly make the bullion value
of pig iron the same as the mint value.
For who would part with an ounce of
this precious metal for anything else
than mint value? Stewart, Jones
and Bryan).
Again it may be urged that our
mint would be overcrowded with pig
iron. l reply that the price of pig
iron having been raised from $50 Il
ton to ratio of IS to with gold the
world over, no one would especially
care to carry it to the minis, since the
mint price could be obtained anywhere
in the market (Atlanta Constitu-
tion). Next it may be urged that gold
and silver would go out of circulation.
In reply: First, this is mere assump-
ton of the tools of the money power,
which they can not verify, ATLANTA
Constitution); second, Suppose gold
and silver do go out of circulation, is
there not plenty of pig iron to take
their place and give the people plenty
of money! (Bryan); and, third, Such
an assumption mixes the ideas of cir
culating medium and standard OF
value; gold and silver would still be
potential money metals, though not in
circulation. and would lend their help
toward raising prices and causing gen,
eral prosperity Crisp.
"Then, again, it may be urged against
the pig iron standard of value that
wages would not rise in proportion to
prices. The reply is: wages would
be compelled to rise, since no man
would be fool enough to work for 81 6
day who could make $1,000 per day
picking up rusty nails and old horse
shoes and carrying them to the mint
for coinage (HulD.
"In addition it may be urged by TIT
money power, by the Wall stree
sharks and the Bond street Shylocks,
that we could not 60 alone on pit
iron basis without an internationa
agreement. TO such dastards as dar,
3 to lay limit to the power of tn,
t American people to do what the.
. please, independently of all nations,
. hurl their cowardice and lack of patri
4 otism back in their faces (Bryan)
3 "The crime of demonetizing PHI
8 iron took place obout 1900 years age
D when certain 'goldolators' and silver
Q ites,' in order to increase the purchas