Marble Hill press., 1896-07-23
TO BENEFIT MANKIND.
OPEN THE MINTS TO FREE
AND UNLIMITED COINAGE.
Double the Amount of Money in CiTcu-
Iation and Every Avenue of Business
VIII Boom-The Wall Street RepuO-
lican Platform.

From the National Bimetallist. Chi
cago: A correspondent, whose letter
has been misplaced, asks the National
to explain how the silver
would get into circulation if it were
coined without limitation. The under
lying thought with those who ask this
question seems to be that inasmuch as
there is a large amount of money lying
idle now there is no occasion to provide
for any more. That idea carried TO its
logical conclusion would also require
the mints to be closed to gold, for 1t is
we'll known fact that but a very
small portion of the gold now in the
country is in actual circulation. Hence,
we might inquire, why coin any
more?" Nevertheless, a proposition to
stop coming it would bring storm OF
protest at once.
The fact is that whether a country
has much money or little there is al
ways some of it lying idle. In India
and China, where the money in actual
use is very scarce, there arc vast sums
boarded away. And, strange as it
may appear at first glance, it is never
theless true, that where the supply OF
money is insufficient to keep pace with
the wants of trade the amount unem-
ployed will be larger in proportion
than where the supply is ample.
A very little intelligent thought will
disclose the reason. When the money
supply is diminishing, either actually
or relatively, it means lower prices for
products. Lower prices means smaller
profits, no profits at all, or actual loss.
Hence people having money will not
invest in productive enterprises. They
will buy gilt edge securities, employ 1t
in purely speculative ventures in stock
exchanges and boards of trade, or ii
conditions become too bad they will
lock it up for safe keeping.
These are the conditions which now
exist in the United States. For many
! years, ever since the decentralization
of silver in 1878, business has beer
done on falling market and more
and more money has been withdraw
! from actual employment.
/ Now for the effect Of free coinage up
on the circulation.
The first effect of opening the Amer
lean mint would be to raise the gol
price of silver to s1.29 per ounce
Leaving out of consideration the ques
ton of whether parity would be main
tanned it is perfectly plain that in tn
first instance silver would so up to tn
mint rate in gold for the simple reaso
that no man in his sane mind woul
take any less for it. The secondary
almost coincident effect, would be t
raise the prices of all those product
such as wheat, cotton and petroleum
that are sold in the European narke
at silver prices. This means CORE
spending rise in the American marke
to be closely followed, as is always tn
case, by a sympathetic rise in Ii
prices of other things of
similar character and occupying
; common field. AS, for example,
general rise of wheat would III
doubtedly be accompanied by rise
corn, rye, barley, buckwheat, etc.
the price of cotton has its effect upo
the price of wool. If the price Of CO
ton goods takes sharp and long col
tinued decline It is inevitable tn
wooden goods will FOLLOW more Or le
closely, because cotton goods al
wooden goods in measure compe
: with each other. So do great mai
! other things, and subject, of course,
: exceptional influences, there is
: general tendency of all prices
rise and fall together. So Il
mere rise in the market price
/ silver bullion consequent upon t
:. opening of the American mint wou
II give a general upward mcFeme
& to prices and especially to the prices
ii our great agricultural staples.
l. This would necessarily bring out I
,e investment large sums Of money NJ
se lying idle, for investors always seek
10 rising market. Again, the silver {
&c posted at the mints would be stru
n into coin and the coin handed to t
Il owner, who in turn would pay it out
: others with whom he has busine
= Thus it would find its way into genel
circulation, swell the volume of mont
~ stimulating prices and business at t
same time. There is never any trc
BILE about getting money into circu,
D. ton when business conditions g
ol healthful, and an abundant supply
oi good money is always productive
e, healthful conditions.
ie One thing should be entirely Gle
81 If silver cannot be coined it is utter
% impossible for 1t to get into circulate
u II it can be coined there is certainly
= chance for it to find its way into |
Il channels of trade. 1t us give 1t IL
~ chance. IL 1t do rot circulate 1t "
OF at least do nc harm, while IL it do c
% culate 1t win be productive of gr'
n good.