The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1896-04-17
LAW ANDGOLDVALUE
oeMoNETIzE IT AND ITS VH'Ss
WILL FALL AT ONCE
4. That Rsspses II IL Ss Bsssss sAss -
v~r-ssin sAs Pisss-rsss Cisis sss'
The, Cassss - the Prssss"

o,s j aI,orether independent OF coin
o. Then what reason was there LOT =
.ng,ish coin being worth 4i2 pence an s.
,unce more than plain gold ouii,ou :,
rhere could be but one reason Inc -
.oin was more desirabl than the oui-
ION Pm, why more desirable? Inee
x.s lust one thing that could be done Z
with coin that could not be done WIN
r,ro,ned bullion. People could pay
their debts with it. The coin ~~
sal tender" The man who oved an
other a pound sterling could tenaei .
,o,a sovereign In full payment ana 'ne
creditor was le.ally bound TO taAe u
pu, ten tons Of gold bullion at the ma.
ket price. Of which We hear 80 "u.n.
would not be . good tender ZOE
smallest debt. Therefore man Sno
had gold bullion would sell II 70 some
h,oker for less than its coinage rais ~
order to get money. because VIM noHs'
he could pay his debt or procure any
thing else that he needed
Ru. II may be asked. How w. I"
,ha, the bullion was worth less 'n.A
the coin when coinage was iree' ="
the simple reason that there was oe
Law IN executing the coinage. Wnen :
man deposited gold At the mint on -
average he had to wait about si.,s
&, a,xs for returns. Rather than 90 TIM
e he ,ook the bullion TO some broker ~.
e entered a loss OF Al pence on e~.'
l. ounce ir order to at once get the co'n
At put in lsA the English Par hAnen
nassed = Law compelling the BANK
o. Ensland TO receive all gold ouihon
- .uncient f,neness and pay for II q =
:, ra,e Of e liza. Sd an ounce. the Dan
he,ns allowed . margin OF IA pen
&c ner ounce ON the mint rate OF - -
n ,orLd From that day to this there D
le- never been an ounce Of gold oousn.
re, .o,a IN the London market for less tn'
NJ ,he nrice set upon it by the Law.
Here in America. II the depositor
us ~old had to wait for his money =
ew n,,,,on would be worth less than
ce. coin. and the difference wouid DC
propor,ion to the length OF tne
~ Z, ;ns,ead OF waiting sixty days.
,ormerly in England. the depositor .
81 Val, i've years to get his coin. !.
~ .c.rcely necessary to say thar tne
ZIG ference would be very great II
bullion could not be coined ~ AL
adherence would be still greater.
!. ,hers Il no delay and no charge
co,nare Al soon az the -slue o
i aenosit il ascertained the depositot
i csives = draft for the amount. ana
ireS transaction il closed 20 ial = !.
rent concerned. The coinage Is tnen exc
de- "a according to the capacity or cow
ence of the mint
az course the closing OF the Am
na- min, 70 gold would not destroy
mo coinage value elsewhere the min'
!, OF o,her countries remaining open II ~
nan =. coined In those countries n tne
Citv nrssrribed by Law. For exAmpb
the rouid still be coined In England
this ~. loLd. an ounce. because tns
80 .rox,des that any person depos
.;n.J ,old at the royal mint may No.
ri coined into money at that rase.
r. 7, every other country In the
.nould prohibit the coinage or u
.oIa a money II would still be G
:, q lis. lloyd. in England unde
- existing Law. Its nominal OF ms
nieu y.lue would Be the same But its
lri-h- !. .xch.nre would be less IL
rmy -. huv 40 much. II man coui
Hign nee rold as money anywhere exc
v and Ensiand he would Be very silly q
) Irish a. many bushels Of wheat or poa'
~ al cotton for an ounce Of gold - d
-. nov when It can be coine'
used In many countries.
Dr tor a. - see that the expression
ln-h- : gold dollar Is always worm
kali a. or 100 cents" and tnat
,its of bullion ia Just - good a. so'd
be hest A. No, touch the essence OF the
I -, .-,,o, ~ all. Gold bullion
IN y .cod as rold coin for the simple
80, the Law makes II so-thaf
ietests operation Of Law gold 0uiion
French stan,ly convertible into coin. an
finest out expense
1 sup But II there s !. "
;. she inB- - 49, .,,.. -auta
RI wine returns. 'ne so,.
tier OF worth = - y. ,h., The money
e anu OF gold is entirely . matter Of
que r.nss money itself IL . matter
when We say that IN ounce
with .ola il worth S2o.s7 We simp'
the Gus -, a ounce Of the metal will
But II ssamD into that amount Of moi
So dol II there we're no Law on the
gold would have no coinage
All. because It could not Be CO..
'ouRIER. valve, then. would b just