Evening star., 1896-07-07
Decentralization OF IRON.
The Great Financial Crime OF 2,2OO
Years Ago.

The Great Financial Crime of 2,2OO
Years Ago.
From the Atlanta Journal
Alexander P. Hull of Atlanta is a strong
16 to ] man. He does not believe in half
way measures. The free-coinage-of-silver
idea is too tame for him. He is willing to
see the silverites and to go them 100 points
better. Here are his declaration, PROPOSE
ton and argument:
Having been deeply impressed by the
arguments of Judge Crisp, Bryan, Stewart,
Jones and other silver leaders, and especial
ly grieved, shocked and Mortified by the
awful crime of 1S13,' as so luridlX depicted
daily in the columns Of the Atlanta Con-
stitution and other silver organs l have
changed my views on the money question
and am ready to maintain the propositions
following in joint debate or newspaper con-
troversy.
II accept the arguments of the advocates
Of silver and agree with their remedy as far
as 1t 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
coinage Of pigiron at a ratio of l6 to l with
geld by the United States alone indepen-
IDENTIFY of all nations and can prove by the
best authority obtainable that such pol
icy on the part of the United States Will
raise prices put plenty of money in circn-
lation. and give the 'hor est debtor chance
to pay his debts thereby making the whole
country prosperous.
Now, In the first place. 1t may be urged
by some who do not understand the SUBJ
ject of standards Of value that Tree
coinage act for iron would not raise It's
price to a ratio of 16 to with gold. To
them 1 reply that the stamp Of this gov
ernment and the legal tender qualities of
the iron dollar would instantly make the
bullion value of pig iron the same as the
ounce of this precious metal for anything
less than the mint value" (Stewart.
Jones and Bryan)
"Agaln, it may be urged that our mints
would be overcrowded with pig iron. re-
ply that the price of pig iron having been
raised from $50 a ton to ratio of 16 to
l with gold the world over no one would
especially care to carry 1t to the mints.
anywhere in the open market ATLANTA
Constftution.)
Next, 1t may be urged that gold and
silver would go out Of circulation. / re-
ply, first, This Is mere assumption of
the tools Of the money power which they
cannot verify ATLANTA Constitution); sec
ond, Suppose gold and silver do go cut
of circulation, is there not plenty Of pig
iron to take their place and give the peo-
pie plenty of money" Bryan), and, third.
Such an assumption mixes the ideas OF
gold and silver would still be potential
money metals, though not in circulation,
and would lend their. help toward raising
prices and causing general prosperity
Crisp.
Then again 1t 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 a day who could make 81. 600 per day
picking up rusty nails and old horseshoes
and carrying them to the mint for coinage
(Hull.)
money power, by the Wall street sharks
and the Bond street Shylocks that we
could not alone go on a pig-iron basis with
out an international agreement. To such
dastards as dare to lay limit to the power
of the American people to do what they
please, independently of all nations. 1 hurl
their cowardice and lack of patriotism back
in their faces. (Bryan.)
THE crime of demonetizng pig-iron
took place about 900 years ago, when GER
tain 'goldolators and 'silverites.' in order
to increase the purchasing power of their
illgotten wealth, secretly and like thieves
in the night got the decentralization act
passed repeating the good. old free-coinage
act of Lycurgus. the friend of our anceS-
tors daddies.' Today China is the only
country on earth honest enough to coin
ry home the wages of his honest toll in
wheelbarrow. ATLANTA Constitution.)
"A ruinous fall in prices followed the de-
moretization CT iron and has continued for
Upward of 1000 years. l. have calculated
the losses entailed upon the honest people
of this world by that ruthless act, but the
figures are so enormous i fear a revolu-
ton Will easue if the people learn how
greatly they have been robbed. But facts
are facts, and the best way to right a
wrong is to meet 1t squareiy. That loss is
s21, 900, COO 600, O0O OO0 000 00o, coo OO0, ,ooo'
COINS Financial School)
''In conclusion insist that the free coin
age of pig iron will do everything that is
claimed for silver and infinitely more. The
people will be rich and prosperous. The
once poor man can pay his debts with his
old stove. Railroads can declare dividends
on old rails and worn-out rolling stock
The small boy can pick up old nails and
horse shoes enough to support his family
In fine, poverty and debt can no longer
existv'