The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-08-21


In 100 Cent Dollars and should &c
Back the Same Kind.
Colonel Greene. president of tn,
Connecticut Mutual Life Insuranc,
company. has addressed a letter 10 ~,
250, 900 policy holders of the company
in which he SAYS
We never supposed il necessary e
provide that you should pay your pre-
miums or that we should promise &c
pay your policies in any particular kind
or quantity of dollars; both-with the
exception of certain Canadian insur.
ances made during the civil war and
while gold was at premium-are pay.
able in lawful money" only ON the
| confident assumption that the American
| people are sufficiently honest to keep its
| dollars meaning what they We're meant
| 10 mean and always had meant
But now comes a political party and
avows its distinct purpose to make a
dollar mean three distinct and widely
different things: CD A gold dollar,
worth as bullion 100 cents anywhere in
the world; (2) n silver dollar, worth as
bullion only 90 cents at the present
time; (3) all the paper promises of dol
lars 10 be hereafter issued by the gov.
eminent only, redeemable in either 100
cent gold dollars, so cent Cor less) silver
dollars, or III new promises to pay, at
the option of the debtor or redeemer.
You do not need TO be told that only the
least valuable of these dollars would re-
main III use The invariable experience
Of all the ages fixes that fact before
hand.
Should this party so led come to pow.
er upon this platform, the government
dues, instead Of being paid, as now, in
gold at 100 cents, or in paper, which it
now redeems with such gold and never
with silver, would be paid in silver or
in paper redeemed i'll silver, which sill
yer we could use in trade at only its
bullion value of so cents ON the dollar.
The greenbacks being then redeemed in
90 cent dollars, the government bonds
and their interest being paid in so cent
dollars, our national bank currency,
which rests ON government bonds, re.
deemable in 90 cent greenbacks and the
gold gone from domestic circulation in.
to international trade, we shall be on
the single 52 cent silver dollar basis.
One hundred cent gold dollars do not
swap even for 80 cent dollars of silver,
iron or copper. Fifty-two cents worth
OF anything can never buy more than
52 cents worth of anything else. Then
the purchasing power of your policies
will be cut in two.
Coming upon silver basis would in
tensely stimulate again the production
of silver. The ores are now easily Access
sible, in inexhaustible quantity, from
which silver can be put upon the mar
ket at "A profit of 40 TO 90 cents an
ounce, at which price ''silver dollar"
would be worth 80 to 3S cents, or less
than greenback was during the dark
est days of 1864 Under that stimulus
and under such conditions there can be |
no possible doubt that the price of silver |
would steadily decline on the average
toward the point at which it can be pro-
duced, which in some mines is said to
be already less than 20 cents an ounce,
and inventions and improvement have |
not ceased. Should we come upon sill |
yer basis your policies would for the |
present be paid in dollars worth to |
your families only about 80 cents: and |
the great bulk of them would probably
be paid in dollars" worth not more
han from % to 30 cents.
lt Is therefore our duty to warn you
hat by so much as ii was your duty TO
make this provision for the protection
If your families, by so much is il your
present duty to see, so far as your action
AN prevent it, that no part of that pro-
'isior is lost TO them by being paid in
dollars which are worth anything
ess than the 100 cents in which YOU |
nave been paying your premiums and
n which. therefore, you and we sup
POSED you were making that provision,
rusting to the personal and political
of the American people to keep
heir honor bright and their money
God. We have never supposed-and do
lot yet suppose-that the money stand
rd OF this great country, producing for
nd trading with all the countries of
he earth, is at the mercy of a lot of
eople who have lot of cheapening
METAL TO sell to Us to use for a new |
tandard and who have long been care.
ully and ut great expense organizing
heir scheme politically by bringing into
ne camp all the discomfort, the jeal-
usy, envy, and hatred which the unwise.
nthrifty, improvident, idle and self in.
ulgent are supposed to harbor toward
he self restrained. industrious, careful.
,ving, thrifty and wisely provident.