The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-08-22

posifa amount 10 more than 81 .Sco.ooo. 900.
WIN you chea. chem by reducing the value
and purchasing power OF the dollars they
have deposited7
Free coinage will also wipe opt nearly
one-half OF the value OF life insurance
which providcnt people OF the United states
have paid 10 secure In case or their death
some support and protection TO wife and
children. IL viii AFFECT in1uriously the
multitude or clerks and employees who de-
pend upon monthly pay and VIII reduce
the purchasing power OF ~ salaries OF
officers and employees In the public service
or the United States and OF every state,
county. city or township In this broad land.
But by far the greatest injury resulting
from the free coinage OF silver Will fan
upon workingmen. Their wages are now
based upon money OF the highest value.
upon gold coin or standard value. Under
free coinage OF silver the value OF the
silver dollar win fall 20 IS cents in gold.
or. as / have already said. the 100 cents
OF the gold dollar viii be worth 1874 cents OF
the silver dollar. With free coinage OF sill
YER every worklngman can and ought TO
demand enough silver for his daily wages
TO be equal TO the purchasing power OF
his present wages In gold. Tho struggle
between workingman and employer will
then commence. and no one knows better
than the workingman how difficult 1t IL TO
get an advance OF pay. We have strikes
and strife enough now. when the work.
ingram gets his pay in gold coin or its
equivalent. but what will be The condition
when he r. paid In cheaper money OF tho
same nominal amount, but OF less pur-
chasing power? Every sentiment OF JUS
tlce viii be on the side OF the workingman
In his struggle for good money or increased
wages In cheap money. OF all the evils
which government can infict. none can
be greater than cheap money. whether OF
coin or paper. That dollar Is the best dol
lar that buys the largest quantity OF food
and clothing. That dollar Is the gold dol
lar, for II buys more food and clothing
than any other dollar, ana viii also buy a
silver dollar for SO cents. II the coinage Of
silver II made free at the ratio OF l6 to
j or gold. Experience has shown that the
United States can make the silver dollar
buyas much as the gold dollar. but Il can only
be done by tho government buying silver
bullion az needed and coming II into dollars
on government account This has been tried.
Every country or Europe, except possibly
Russia. republics and monarchies alike.
maintain the gold standard and silver
coins ut parity with gold at even n less
ratio than the United States. and now RUS
STA has boarded over 100000. 900 OF gold In
preparation for the gold standard which
she VIII adopt
We have now In the treasury belonging
TO the government over SO. 600. 600 silver dol
lars represented by certificates and also
silver bullion costing over $llS.o0o.o00 e.,
treasury notes In active circulation ard
maintained at par with gold at the ratio
or 1G TO !. The free coinage OF silver
l. an invitation not only 10 American
miners, but TO all miners or holders OF
silver IN the world TO deposit their silver
I'm tho nints or the United States and 20
receive In exchange therefor n silver dol
lar for every fl2h grains OF standard sill
yer deposited. But that silver ia worth
IN the market only 30 certs. why should
we receive this bullion from tho owners
or silver mines at nearly double its mar
kCt value when we have such a vast hoard
In the treasury. which we hold with DIM
cJlty az par with gold? The only object and
effect OF this measure viii be 10 degrade
tho dollar. 10 losscn its purchasing power
nearly one-half, 10 enable debtors TO pay
their debts at 90 ccnts for a dollar and
10 cheat the public creditors who hold our
bonds IL this policy should he adopted the
United States will take its place among
the nations or the earth as a bankrupt,
closing It's business at 90 cents on the dol
La.
There Is another element OF meanness
In this free coinage OF silver The United
States has always paid it's bonds in gold
coin or It's equivalent. In the darkest hours
OF the civil war we stipulated 10 pay our
bonds principal and interest in gold, or
it's equivalent. All OF tho war debt has
been paid in this way. a portion OF IL was
paid by the sale OF bonds bearing lower
rate OF interest, but we exacted from the
purchasers OF these bonds gold coin or
It's equivalent even while our notes were
below par In coin. About SSi7 coo. COO OF these
securities are now outstanding, OF which
s2s2 900 was sold by this administration
end paid for In gold coin. IL Is one of the
objects OF those who advocate the free
coinage OF silver to force the government
TO pay these bonds I'm silver coin reduced
Ina 10 - ho IN ag n
ion OF measure favored by many good
people, but / cannot regard IL IN any other
iirit but as both fraud and robbery.
and all the worse II committed by great,
rich and free people. A citizen who should
commit such an offense would be punished
by the courts or denounced az dishonest.
but nation like ours is beyond the power
OF any tribunal but conscience and God.
Now, fellow citizens, l have said all
desire 20 say at present on the free coinage
OF silver | have the confident hope that
the great body OF the republican and dem
ocratic parties, representing the conserva-
tive elements or our people. VIII stamp
their rebuke upon this measure of infamy
and thus preserve intact the honor. the
credit and glory OF our great country.
This matter or the free coinage or silver
and the degradation OF the standard or
value involves not only questions OF money,
but OF honor and good faith. When their
respond. They have complied with every
promise and paid every debt contracted
since the organization or the national gov
eminent as IL became due. They have paid
fouy-nfths OF the debts contracted during
the civil war, and the prospect was hope
ful that all OF II could be paid before the
close OF this century, but this reversing
our standards OF value has like tho fire bell
at night startled and alarmed our people.
Let us settle II by following the action OF
Washington. Hamilton. Jefferson. Benton.
Hunter, Lincoln and Grant: let us maintain
silver and gold at par with each other at
the legal ratio OF rs to until a conference
among nations can prescribe common
standards OF value. In tho meantime let
no act be done. no policy be adopted, no cx-
pcdient resortcd Go that win tarnish the
honor OF this great republic.
A Fact About the silver Dollar.
IA -. A. - u