The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1896-09-05

the CONSTITUTION, OF III Wnlcn OF 'he M
teen amendments, does the fundamental
law prescribe a gold and silver coinage
or any other coinagei In which does u
mention any coinage further than 10 al-
thorize the general government TO coin
money" ard regulate the value there
OFF, Acting under that authority Con-
gress at first authorized coinage at 10 TO
1. Was that the 'gold and silver coin
age Of the Constitution III 30, now
has 10 to l come to be the coinage OF
the Constitution? Under the first ratio
silver was undervalued and refused to
circulate except in the form OF worn and
abraded foreign coins. Our own silver
coins even the subsidiary pieces, were
melted down for bullion because they
were worth about 3 per cent. more than
gold dollars. In all the period up to the
time of the great silver discoveries Con-
grcss sought to make the coinage ratio
the same as the commercial ratio. III
never authorized coinage at any otner.
Was that the coinage of the Constitu-
tion| If so will il be n return to II FOR
us now to establish free coinage at the
ratio of Is to l when the commercial
ratio is about 81 to 1?
4. Will not free coinage ut III to l re-
duce the value of the dollar unit by about
onc-halfI
;. Will it not be in fact a Reputation
Of about onc-half of all our debts. public
and private? -,
q. Is there not danger that i viii
cause the return to us of all the Ameri-
can securities held abroad-government.
railroad and industrial stocks and bonds
thus precipitating panic of giant pro-
portions, with long years OF depression 10
follow?
Z. Will not your election upon the Chi
cago platform cause the calling IN, be-
tween November and March, of all col
lectable debts, all loans. all MORTGAGES
that have expired? And will not tins
produce such Il distress as this country
West and South. where capital and
credit are most needed and depend upon
confidence as their basis?
y. Will not free and unlimited coinage
drive all the five or six hundred millions
of gold and gold certificates out OF use
rs money or as bank reserves! VIII II
not cause a currency contraction OF the
most disastrous proportions. inasmnch
as the utmost capacity of the mints 10
coin silver cannot make good this With
drawal for several years TO come?
o. Will not free coinage place us at
once on financial level with Mexico
India and China. and can we afford to
20 upon that level?
10. Is there any country in the world
today which gives free and unlimited
coinage TO silver? Mexico does not.
India does not None of the Central or
South American States does. We know
of no country that does, of no example
that can be studied.
II. Is there any country in the world
now on the silver basis which is as pros
porous as the United States. even in this
| time Of depression? Is there any in
which wages are so high as they are
| here. or in which the dollar received in
| wages will buy so much! Is there any
| silyer-basis country that has large
commerce. prosperous manufactures. or
"A wcll-to-do agricultural class! Is it
| not fact that in every silver-bass coun-
| try in the world abject and hopeless pow
erty on the part of the masses is the
| rule:
II. Will you explain TO us for our en-
| lghtcnmcnt and guidance how our coun-
try is 10 escape like conditions If we
| 20 To a silver basis. or how we are to
avoid the lapse tn that basis if we adopt
free and unlimited coinage at Is to 1
| when the commercial ratio between the
| metals is about twice that!
IL. And If You tell Us. as many free
coinage advocates do. that free coinage
will raise thc commercial value of silver
| To the coinage rate. will You explain IN
us how in that case free coinage is TO
make money cheaper or easier to get:
| how il is to relieve "the debtor class.
| how il is 10 increase the price of wheat
or any other commodity
IA. You may be aware that there was
last year on deposit in the savings banks
of this state alone S643.SI3,Jl4. This
enormous sum belonged to 1,G15,1IS de-
positors, giving an average to each of
| S3gS.f3 Ii represents mainly the small
| savings Of the thrifty poor. Nearly all
of il has been deposited since the pres
| ent standard of value was adopted by
the government. Do you think it fair
or Just to impair by ~ per cent. or by
even per cent. thg value of the money
-. 4, 80 n
| in which today they would be paid!
Il. There are in this state SS,119 pen
sioners They drew from the govern
ment last year nearly S1i.OOO,OOO. Con.
sidcring the nature of this debt of honor
when Justly due--can you look with IA
vor upon any policy, that might result in
paving them in a deprecated currency
Is. There are in the country 5S}S
building and loan association. of which
AIS are in New York. These associa
tons have 1.7i5. 125 sharcholdcrs-all o
The working and saving classes. Theil
asn.s. last gear were SI5O,661 .594, repre-
scented .hisJy by mortgage loans t,
beers Of the assciations. These associa
tions have ncarItSAll been organized with
in the last fifteen years under the exist
ing money standard. Can you think j
fair or beneficial to the working peopl
to reduce by ~ per cent. or any Jesse
| sum. the NilNt VI litsC lHNfSlultllts U
the thrifty poor?
II. Is il not n fact worth consideration
in proposing Il descent to the silver stan
dard that the thrty-nine old-style life in
surancc companies alone doing bushes
, i'm this state last year had in force her
nearly 2.O0O.OOO policies. insuring owe
: 81. 900, OOO. 600. The assessment 'compn
: MES and various benevolent orders have
vast amount more. Would it not be n
; injury and wrong to the benefciaric
of these polices-the widows an
! orphans whom provident love ha
: sought to protcct-to compel them to r,
, ccivc in payment deprecated money?
Is. The rise in prices" which yo
: predict as n result of free silver coinag
, would. of course. mean an increase in til
/ cost of living to all the pcople-to wag,
. earners. salarcd men. and the whol
body of consumers. Do You know of an
case in which a rise in wages or sal,
ries has been parallel with the rise
r prices! Is there any way to render
certain. or even probable. that the wag
r earners will be compensated for the ii
I creased cos: of living?
r 10. You attribute the decline In silv,
10 the decentralization of the silver do
lar in 1873. though that dollar was n,
, then coined in any considerable number
, and vas not in circulation ut ALL OWN
TO the fact that silver bullion was wort
L n H. II