The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-09-21
SILyER's SIDE.
statements, Rather Than Facts. Pre-
scented by Globe CorresDOndent


70 the Editor of the Globe
Dear Sir: AS there appears in naarI,
every issue OF your paper arguments against
Tree coinage OF silver and none for it Or
at least little more than arguments in the
way of questions it seems no more than risbf
That we who believe in the money of the
constitution should have say in the great
been honest and just in publishing in your
great and influential paper all views on the
issues of the day and Endorsed or refuted
enem IN your editorials as you believed just
and right; hence, we believe you will con-
unue to do SO. We who opposed to the
single gold standard do so for the follow
ing reasons
First-Gold and silver are the money
OF the constitution, and are used now by
nearly all the people of the world Twenty
nine Money Systems of the World by Nor
gan, shows that over 100000 people use
silver while only some over 1000, 900 use
gold. And again, as shown in that desirable
work. 1.-THE Peoples Money" by Trenholm.
the money of the few. 1t is also denied by
many that congress has the right to demon
etizs either of these metals. and can be de-
Tended by the best and most eminent con-
stitutional lawyers this nation ever had.
Webster said Gold and silver the money
of the constitution. The constitutional
be overturned. To overturn it would shake
the whole system. Gold and silver fixed by
congress constitute the legal standard Ct
value in this country and neither congress
nor any state has authority to establish any
other standard or dispose Of this.
Second-We believe that the United States
is able to run her own business and coin
gold and silver at the ratio of 16 to l with
out the advice or consent Of any other ma
ton. In 1775, when our population was only
100000, we did not ask England whether
we should pay her unjust claims in taxes,
which amounted to only about 100000 per
year. but we declared ourselves free and
Independent whipped the mightiest nation Ion
set up a new model for the world. Why
can we not run our own business now? We
do not ask other nations whether we snail
have a protective tariff or not.
We also see by statistical reports that the
ratio of silver to gold in the whole world Is
only about Is 2-3 to l OF gold. We also have
learned that silver as money Is worth from
to per cent more in Europe than here.
SO we see the fallacy of "overproduction OF
silver In this country. as the director OF the
also see the fallacy of this country becom-
ing "a dumping ground for the world.
Third-We believe as James G.. Elaine said
In the United States senate in 1873 tsee his
political discussions): II believe the strug-
gle now going on in this country and in
other countries for the single gold standard
would, il successful. produce widespread as,
aster in and throughout the commercial
world. The destruction of silver as money
and establishing gold as the sole unit OF
value must have a ruinous effect On all forms
of property except those investments which
yield a fixed return in money. II, as most
reliable statistics affirm. there are " 100000
600 of coin or bullion in the world, very
equally divided between gold and silver, 1t
is impossible to strike silver out OF exist
ence as money without results which Will
prove distressing to millions and utterly dis
astrous to tens of thousands. IL, therefore,
silver has been demonetiZed, | am in favor
Of remonetiZing 1t. II It's coinage has been
prohibited I am in favor OF ordering 1t re-
sumed; if 1t has been restricted. l am In
favor of having 1t enlarged" Was he not
right? Respectfully, r. j. Faussett.
(Mr Faussett as usual, is prolific in state
ment and rather barren in fact. Without
making any extended reply. which does not
seem to be called for, we may say that there
have been scores OF arguments for free silver
presented through the columns OF the
lob e.; that there Is no such thing as
money Of the constitution" that the con-
gtitution gives no description Of money
whatever except the purely negative one OF
prohibiting states from making anything but
gold and silver legal tender in payment OF
debts that there Is no similarity or posi-
bility of comparison between engaging in
war with nation and forcing upon our own
requctant people, as well upon its subjects,
q money metal at a valuation double what 1t
bears in the market; that IL silver as money
is now worth from to per cent more in
Europe than here, then the demand for free
coinage Ia preposterously silly, because the
silver producers have only to send their
entire product to Europe and rake in this
TO per cent; that all our own silver dollars
would be melted down and sent abroad to
more than anybody, except stockholders in
trusts, is making In any occupation today;
that 1t has already been exposed to the pub
lie that Mr.. Blaine's speech, taken as a
whole, will not for one moment bear the con-
struction placed upon few extracts selected
This covers all that Mr.. Faussett has to
say.-Ed) -r-sE3