Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1896-10-28

. will not silver then b also
200 cent dollars and Just - dear and
hard 70 get?
Ellis: The free coinage Of silver
increases the number Of dollars 90
the worli's supply Of money and cor
respondipgly decreases the value Of
worlds dollars ~ expressed in the
worlds property. while IL takes the
demand of from gold to the extent
silver 10 coined and increases the de-
mand for the silver bullion OF like
ratios; one drops in price and the
other rises. For illustration: Take
. barrel, fill it half full Of water.
then place o timber one-half the six.
Of the water In the barrel and press
down until it 10 on q level With
the surface Of the wafer: you will
then fiod that Just as the timber de-
sends the water rises, meeting each
other on Q level. What Is true of
the timber in the water IL true of the
two metals. The gold coming down
To meet the silver rs the silver rises
to meet the gold.
Searle: Why 10 the United States
standard silver dollar today worth
100 cents when the metal in IL Is
worth but so cents?
Ellis: because Of its debt paving
power and for no other reason. Dol
lars cannot be used for any other
purpose; what IL true Of one dollar
10 true Of two dollars.
In replying to the question rs 20
hr To- nj Ill l.
crease the foreign demand for our
products Mr.. Ellis said that we must
first refuse silver bullion coined by
the Liverpool merchants to be used
in payment for the Hindoo slave Ia
Dor and compel them to pay the coin
age price, thereby doubling the cost
Of silver bullion to them and thus
the increase on Hindoo products will
enable our farmers to compete In the
European market with fair margin
OF profit, or at least create demand
for our products. Searle asked how
we are going to stop the influx Of for
eign products, claiming America i'm
ported &lS4,COO, 900 worth Of farm
products alone last year. So long rs
we cell $500, 900. 900 annually on an
average above what we consume, Mr..
Ellis explained that we should not be
overly anxious to stop it. In reply
ing to the question OF how free coin
age Of silver would remedy the mon
opolistic and trust evils, Mr.. Ellis
said that ''going to the mountains
to mine and coin our own money
will give the profits, IL any, to labor,
but to 20 to the gold dealers for
money We must return it with inter-
est; labor keeps none OF il, while the
toll thus extracted more than ex-
ceeds all profits or the increase Of
wealth. To coin q new crop OF dol.
lars loosens. for . time at least, the
grip OF the money monopoly from the
throats OF the people which good
effects will be left in all parts Of the
world"
The Blood Of Com nerce.
money is the blood OF COM
merce." continued the speaker in
answering the question as to how
the is to ! policy will put the gov
crnment on self-sustaining basis.
free coinage Of silver brings on
new crop OF money. enthusing new
blood into the veins OF commerce;
setting the wheels in motion. II en-
ables the producer Of crops to trans.
fer his crops for the products Of the
shop and mines. the ragged to cell
their labor for new dollars and the
dollars in turn to be given to the
now idle tailor. Above all il in flatcs
prices and It lessons the cost OF the
dollar. Innsted- prices leave mar
gin OF profits above the interest and
taxes to spend for the trial and i'm
prisonment without a Jury in viola.
ton OF the constitution OF the United
States for the disobedience Of said
orders"
Mr.. Ellis said he deprecated sec.
tionalism, but claimed that IL is not
the people arrayed against the
classes. but the united efforts OF the
people to resist the greed Of msm.-
mon, whose every attempt Of the
legaiized robberies thus far has bee
successful since 1862.
In answer to six other questions,
Mr.. Ellis held that a. international
agreement is q treaty binding our
nation with others. and whether
right or wrong We would be COM
PEELED to submit to il or fight the
powers we might afterward oppose;
that in the event Of the election Of
MI. Mckinley this will be the FIRST
nation on earth where the people
voted to cut of one-half the supply
OF their own money; that confidence
Is not solid rock, it's success de-
ponds upon credit. credit makes
debt, debt draws interest and inter-
est sbsorbs all the wealth in the
land; that we would much rather coin
money and do a cash business. saw
Ing per cent discount to the seller
and per cent interest to the pur-
chaser; that it is not the intention to
pay the miner 100 cents for his bull
lion, but to coin it for him, aud
when he desires to dispose Of it he
must do SO for products. which will
SOON rise to meet the demand made
BY the newly made money in the
hands OF the hungry miner.
A. w. Kicker, OF Iowa, followed in