The Houma courier. (Houma, La.) 1878-1939, 1896-08-15
u. S. senator Samuel D. MoEnery.

U. s. senator Samuel d. McEnery.l
There are no arguments, but there
are assumptions t prove the evil
eIfects-the disastrous consequences
following the free coinage Of silveFs
We are told that the man who has
his silver coined into a dollar will
abtain Il dollar for every ffty-tIree
cents worth Of silver bullion. This is
a false assertion. Under the free
coinage of gold, gold bullion and gold
coin are the same, The weight Of the
standard gold dollar is 25.s grains,
and it is worth no loss aud no more
than 25.8 g%vains of gold bullion.
Under the free coinage of silver,
4I2 2 grams of standard silver
would. shave the exact CONNER cial
value of the standard silver dollars of
4l2 LIZ grains. No n would pare
with 4I2-I2 grains of silver for less
| than a dollar when he could take it TO
the mint and have it coined into a
dollar without change. When gold is
coined, tho party having it coined
getsan equivalent IN gold. So under
the free coinage of silver, does not get
a gold dollar in return, but he gets for
4i2 l2 grains of standard silver a
silver dollar Of full legal tender, But,
it is said, the value of the silver dollar
would be but So cents in gold. The
answer to this is that the free coinage
of silver will raise the price of silver
and lower the price Of gold. All pro-
ducers would receive a benefit from
this. As gold would fall, prices would
rise. The gold price Of silver would
be higher, because there would be an
Increased demand for silver, and this
increased demand would result in
restoring silver to its full money
function, sharing equally with gold
the demand for money. We would be
restored to the financial condition
prior to 1873, when the two metals as
money served as the basis Of our
credit. The farmer. the wage-earner.
the manufacturer and all producers
would be- benefited. With the ap>
preciating gold standard there has
been going on the slow but sure
process Of the debtor; the profits Of
industry have been eaten upby falling
prices. Restore silver to the same
privilege of mintage and legal tender
with gold, production will again be-
come profitable, and with its increase
the burden OF debt will be lifted. The
wages ofthe laborev would be increased
because of the increased efforts TO
increase production. Progress and
prosperity will take the place of the
present depression, the despair which
has settled upon the people, and the
inertia attending all efforts to labor.
Senator Joseph G. Sibley says: eve
have plucked the deadly upas tree
from an alien soil and planted it 10
the free soil of this union. What are
its fruits9 1t has given the home
steads thousands of toilers to the
creditors. 1t has given One-third o.
our railway mileage to receivers. II
has given reduced earnings 60 every
one of the other twO-thirds, aud divi-
deDds upon stocks and interest upon
bonds to but few. 1t has given idle
ness to 100000 of would-be toilerl
in shops and fields. 1t has given pro
ductiye capital no scope for nse. and
little OF nc reCurn for risks assumed
Il has given the silver miners ruin. /
has given the farmer forty cents fOl
wheat, and the cotton planter fouI
cents for his cotton. It hal
given nakedness, hunger and cold Il
millions Of men, women and helpless
children. It. has provided q sea o
tears, an avalanche OF graves ant
prayers for .succor. Il has blightet
hope and ~paralyzed aspiration in
million homes. 1t has produced /
crop Of defanfters aud convicts unit
the jails and prisons OyeTfow. 1t ha'
produced mobs and riots and tia
calling for armed forces Of tho nation
to check and control. It has produces
800, OOO, 600 more OF goyeinmentbond
which are 50 many financial fetters t.
shake the feet OF industry. The
cause at trial is that Of creditor vs.
debtor, humanity vs.. selhshness-i
free government sucil as Jul fathers
designed 10 found VS.. the rule Of an
organized plutOcracy."