The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1896-02-21
AMERICAN PRODUCT.
IT COULD NOT BE COINED IN
DEPENDENTLY.
That VIII he the ttnai Propositions Of
the British Coospirstors-Trus ~.
metaiiism Admits Of No Limitation
WhAtever-Some Essmpiea.

As this question is frequently asked.
and considerable number OF people.
inclined to be- friendly to silver. favor
the restriction OF the coinage TO the
product OF American mines. the answer
will be given under its own distinct
heaiirg True bimetallsm admits OF
no limitation upon the coinage. To re-
strict the coinage to the product OF our
own mines. would have the effect OF al
once creating two prices for silver. The
American would u. worth the American
mint rate. while foreign silver would
have 10 take its chances in the general
market What price II would there
bring would depend upon circum-
stances. hut unless other nations should
take steps for the coinage OF all the
foreign product. il would certainly be
worth less than oiir coinage rate. IN
der such circumstances the foreign
price would be regarded as the true
value. while ours would be deemed
forced and fictitious rate. The Ameri-
can dollar wonld he o. Tho sani char
acter as il Us uoN. somewhat OF the ma
tire OF token noney.-that Is. coin OF
greater nominal value than the same
, weight OF bullion in the general market
I Gold would remain the standard as II
IS now. Every time a million or two
vent abroad New York would have
spssm. This would frequently occur.
& Silver having a greater value at the
American mint than In foreign coun-
tries @. course Ii would not be export
ed. II specie were needed for that pur-
: pose. gold would always be the metal
) selected. AS the supply OF gold ran low
tie cry OF danger" would be echoed
far and wide. and there would be no
. end of agitation for the repeal OF the
- law. Ii short, the experience OF the
) SHERMAN Law would probably be re-
e peated. But with our mint open to al
n silver bullion the price would be uni
s. form everywhere. except as there nigh
be trifiing and temporary variations
owing to local conditions OF supply an'
rs demand. The moment our mint stand
10 ready to coin all the silver bullion u
"a sight at $129 an ounce. that become
"a practically the market price every
n where. The Mexican silver produce
y is not going 10 sell 1t in London for an.
less than he can get at the American
mint. Silver needed for India. Chin
2" and Japan must be paid for al the sam
rate. and the American mint would con
IN troll the market just as the French MIN
le formerly did II people will get beio'
ne the surface OF the question. and In
7, teligently consider the effect OF open
IN ing our mint without Limitation, the
), will see that the status Of silver voui
be- completely changed. The creates
: weakness OF the argument against ire
coinage lies in the assumption that 10
n foreign price of silver would be 10
q same after our mint is opened as II
,r now. The idea IL also quite general tia
of we could only sustain silver al our mir
of rate BY taking all the silver In IN
\ world. This is erroneous and even al
- surd. Every nation takes care OF u
!. own silver coin. and will continue
do so. When France stood alone frol
1903 TO 1865 as the bulwark of bimeta
ism. all OF the silver did not go TO hs
"a mint. neither did all the gold. But II
ne fact that all OF each could. as la
resource 20 there. obliged every oth'
las nation and individual to pay about TN
Of price. and consequently the nuctu'
Mt tions in tho bullion markets we're e.
Ick ceedingiy smali-so slight. in fact.
he to never disturb the parity OF gold az
GRO silver coin at all.
~ The silver question cannot be settle
by mere expedients. The demoneuz
~! ton OF silver was wrong. little le
iu than a crime. Every principle OF ju
tice requires the undoing OF that wron
This can only be done by placing silv
ter in the position which 1t formerly Q
vas cupied As the address Of the Nation
zen Bimetallic Union adopted at Salt Ia
led City declared. there Is but one way
,nel restore silver and that Is 10 restore y