Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1896-07-16
PENSIONERS AND SILVER.
a Wall Street Gold Standard Organ Makes
TRSa@owarw

Wall Street Gold Standard Organ Makes
n Wonderful Discovery.
The New York Evening Post, which
makes pretensions to living in an at
mosphere of heavenly calm above the
timber line. has just begun to mani
fest deep concern for the pensioner.
Usually the Post has regarded the pen
sioner as cross between knave and
= heggar. but finding that some capital
can bt. r-2de for the gold standard
cause thereby, it has become tenderly
solicitOus about the pensioner and sees
in the free coinage of silver gigantic
scheme to reduce his pension one-half
The $4,000, 600 divided annually
among the $4,000 pensioners will be
cut down to so, 900, 600, according to
the Post, if free coinage should win.
The Post, In trying to inject the old
soldier issue into the financial ques-
ton, has been guilty of piece of
hum bug which will not appeal with
any great force to the country.
But still further humbug has been
perpetrated in assuming that the silver
dollars turned out under a free coin
age regime would pass for less than
the silver dollars turned out under the
present system Although the silver
dollar to-day will buy as much as the
gold dollar in this country as we'll as
in England, the Post assumes that I'M
der a free coinage system this coin
would actually deteriorate in value
oue-half; in other words, that the
stronger backing given it by the gov
eminent the less value would be i'm
parted to it.
There are people in this world who
seem to think that the Almighty has
fixed the value of the silver in a dollar
at so cents, and that it will never be
worth any more or any less than that
They contend that no matter what the
United States may do in the way of
abilitating silver, we will continue
to have a ''5O-cent dollar" We do not
see how any sensible man can enter
tain such views, for they are entirely
beyond the bounds of proba bility. 1t
has been shown that on a particular
Monday in June, 1898. the silver in
dollar was quoted at 90 cents, while on
Friday of the same week it had dropped
to so cents This drop was caused by
the closing of the minis of one coun-
try-India-tO silver; and India is not
one of the great commercial nations of
the world either.
1t is a reasonable inference that if
the closing of the Indian minis caused
a fall of Is cents, the reopening of
those minis would cause a correspond
ing rise. Furthermore, if nation like
India can raise or lower the price of
the white metal 80 per cent, the United
States alone ought to be able to in |
this great country announced that it
would stampevery 3714 grains of silver
brought to it as 81, would any body sell
that amount of silver for less than a
dollar? And if every owner of 3714 |
grains of silver held it at dollar, it
would in fact become a dollar. When |
a gold dollar is melted, it is still worth |
a dollar not because that is its intrin- |
sic value, but the government will re-
ceive it as such and stamp it dollar. |
When the silver dollar is melted, it is |
worth only about so cents, because the !
will not recon it on de- |
mand of the holder into dollar. The |
silver dollar is called q dishonest or |
rotten" dollar on this account, though |
the paper dollar is never decorated |
with approbrious epithet; yet if one |
should burn a paper dollar, how much |
would its ashes bring?
The assumption by this or any other
government that 23.2 grains of gold is
4 dollar is an arbitrary one, as it is
sometimes worth more and sometimes
ess, and intrinsically it is worth little
Or nothing. There are we believe
eight metals which are more valuable
han gold. 1t is government that has
given value to gold. Silver likewise
AN receive a value from government;
md if ever the United States declares
hat every 3714 grains of silver shall
pass as dollar in its confines, silver
will rise in value all over the world,
md one of the worlds standard money
will be restored to it's use.
The pensioner will lose nothing by
he increase of currency. The Post
las shown recently that we need more
apital in this country to develop our
Industries and give employment to our
die labor. Certainly the pensioner
would be benefited by the opening of
lew industries, the unemployment of
a Dor. and the competition that would
necessarily ensue. If not, then our
currency ought in his interest to be
so that he might with
ingle dollar buy SIS or $50 worth of
'oods
The truth is that our currency ought
o be large enough to meet the
ormal demands of commerce in all its
a mifications. and to be beyond the
of a small coterie of
money spectators Memphis
Appeal.
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