The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-10-29
An Interesting Letter
on the Present FL
nancial Question.
by . Citizen Of Calumet.
Panl RssI KuIea ny q Fall 81 Rang
Ing Rock In the Heel. MtBe
Tats Morning. rsStEtes-

one kerr IN ulnS tAs kSsI tASs reSl
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an'r sxv ccExrzzszs c&z hep rSQ-e-
rn1Srsrs r.opsy AT p4rwits gOlc, - J1at
EWE c.zss 80 So1S n exchange ior Eer-
eAAoclssA n - stand rsSdy az 81 times -
r~S-Sz u sSth Sold. Oar cOvsruDsnt
las pi-5Se6 itseii - keep a. oar reR7s-
sentative Money 81 psr with gOld.
Our govern noct takes gold Il The bah
kou vslne a. 81 IN The markets q the
word. stamp il - a dollar, s1d ssys oy
lzw thai TIA. dollar shall he our stand
sr5 hersoy - measure 81 our tra1ssc-
tlOos
What Il oow proposed Is 20 take about
50 cs.nts n h1lk01 value O. silver. stamp
IL 81 a dollEr and have The EOyernDent
deere that tins dollar shall he our stand
ard n 81 TRANSACTIONS Also thst II
shsn he fah legzl tender Tor ell debts,
both YGbiic sD0 private sud shall have
free s0d snhDitea eoinsge. THIS would
denooetiEs gold, 81 there can Be but one
standard. II tins became q law the gov
eminent wonid Be unable TO sell it's coin
bonds for gold. as people would know
then that the bonds would Be paid n ell
yer.
The government would. therefore. be
compelled 10 break its pledge 10 keep our
representative money at par With gold.
This would mean dishonor. The whole
OF our representative money would then
gradually sink 70 silver basis; all valurs
would be upset. salaries and wages ~
duced (by the purchasing power OF the
money being less) aud il would cause
more general distress, in my opinion,
than We have ever witnessed in this coun-
try. Wien we reached a silver basis We
wouls have basis not nearly az stabi-
as ,ld-One that has bern rejected by all
civilized countries, snd one that We would
coon rsiect ourselves.
IL was the experience with the green
back, that as It's value fell merchandise
rose, but wage did not rise in propor-
ton. as most employers could not afford
20 increase them, making therefore,
constant difference OF opinion between
employer and employee.
The silver question hss besn b-iore
congress for years. II any crime was
committed. il WAS that OF allowing silver
dollars 10 be coined with les than the
bullion value OF silver 10 them. IL wss
giving way 10 the silver men on this
point. in the fret place. that has esu-ed
all our coming trouble. II l. al right 10
coin small change With little les= than
the bullion value % silver IN them; but %
coin silver dol ars with les than their
bullion value in them was a terrible mis-
take. Ii caused the silver men 70 pres
for more.
The Sherman Law was a eompromiss
with the silver men. they demanding az
thar time tn free coinage of silver. The
Sherman bill vas passed July il. 1890
On July 1. 1890. the price Of silver wss
$l.O4 per ounce; on August 10 the price
had risen. through speculation, 10 81 II.
In the beginning Of September it began
TO fall and at the end OF December the
price was down again 10 81 o. and
gradually kept on falling, although the
government was buying 100000
ounces per month, under the operation
OF the Sherman law.
Mr.. Bryan says in one OF his speeches
ask them il the Sherman law did not
raise silver to 81 30 per ounce" It did,
but his question carried with it the in.
terrence that the price remained there
but il did not.
Mr. Bryan also says free coinage will
raise the price u silver TO $l.29 per
ounce. The price would have to raise
throughout the world, and anyone who
knows how mines can increase Their
product when there 10 a little advance iu
the price, will know the impossibilIty oI
such an advance. No doubt, IL would
advance temporarily through speculation
and possibly little permanently, but
feel sure That miners working for nay in
the western mines would lose more in the
depreciation OF money than they would
gain in the advance OF wages.
The present price for silver il 60 cents
per ounce making the sllyer dollar worth
in bullion about 80 cents. And yet after
such a fall in price the silver delegates 20
the republican convention at st. Louis
demanded free and unlimited coinage at
the present ratio. and bolted when they
did not get il. The vote stood Shy OPP
posed. 10y in favor. The delegates
realized the danger Of the proposition
and wisely refused To grant il.
There boilers combined with other fac
tions, now offer TO the voters Of this
country the proposition already stated
The government, il this proposition
carried, (although II could not keep our
MONEY at par in the purchase Of mer.
chandi-e and property would, by max.
ing IL a legal tender, compel every one 10
this country TO accept IL in payment oil
any debts, and compel every person
holding government obligations, TO &C
cept payment in this deDreciated cur
rency; this would be reputation. Every
person. therefore, who casts vote fol
Bryan otesior repud alton and di -honor
There was never, j am sure, a more
dishonorable proposition offered TO tn,
consideration OF any people; our peopl,
would light any time TO maintain tn,
honor OF this government, but here il {
proposition that would brand us for al
time, and deseryedly 80, as the greatest
swindlers OF the age. No wonder peopl,
in the old country cannot believe we will
adopt 40 Infamous measure.
This ~ the dose offered by the silye
men, They try to sweeten il by talkin.
OF being controlled by Lombard street
the money power, the banks, war;
against financiers and would il the,
dared warn against business men. Thei
object IL to create prejudice and hope Il
that way to fool laboring men. / thin
the people OF this community are too in
telligent to be caught by such argument.
The battle grounds now are In Mich
gan and Indiana and II IL not TO III
credit oil our State that this IL so.
would not stay by the republican part
one hour " IL were on the wrong side ,
this question. Leading democrats n
over the State have announced that the
will vote Tor Mckinley. General Palm,
In his Chicago speech said he could nj
blame anyone voting Tor Mckinley.
vote for Palmer would be half vo
better than a vote for Bryan, but will
man he dolno hia whola dutv uho,