Democratic messenger. [volume] (Snow Hill, Md.) 1869-1973, 1896-07-25
MORE SILVER IDEAS
BY SENATOR JOHN MORGAN.

Two half dollars and the other
subsidiary silver coins are lesss in
weight than the standard silver dollar
by nearly $ grains, and vet, being NJ
least 80 er cent ot the coin actually
paid tor labor and for the daily food
of the people. it is money debased by
law. as to its weight When the Re
publlcaus insist So earnestly on giving
to the common masses of the common
people gold dollars (of which none
can he coined under the existing law. J
what have they to say about giving
them silver half dollars that are eight
grains under standard weight?
Is that honest money? As To these
subsidiary coins they are dumb.
They are ais, both deaf and dumb
to the demand Of the people for full
legal tender power in favor Of silver
money, and they adhere firmly to lis
legal degradation.
These debased and degraded coins,
with nickels and copper, are the only
specie money that the worlds tolers
Use or ever see. Yet the gold mono
metallists clamor about "honest
money" and the dignity of labor, >
while they dole ont to them, under
close limitations, subsidiary coins,
made of 80 cents silver" that are
light IN the weight OF pure metal.
This deceptive and unjust treatment
is direct assault upon the dignity Of
labor, aud is in perfect harmony with
the corresponding degradation and lie
basement of the industrial classes that
is forced upon them by monopoly.
which is but another name for ieuda-
lism, both in Europe and America.
In the same direction and for the same
results, federalism, which is the soul
of New England Republicanism, at
temps TO force upon the people an
other destructive monopoly. for enrich
ing an exclusive coterie OF capitalists.
under the name of protection" Both
OF these dangerous monopolies are de-
mamded by the St. Louis conventions
under the heads of gold" and pro
lection. In the payment of labor and
in the purchase and sale OF daily food,
among the people, and in all transac-
tions OF minor character, all Europe
uses daily at least $50 in silver coins
to $40 in gold coins. London, Berlin,
Rome, Vienna or Paris would he CON
vulsed with violent outbreaks if the
people in those cities were deprived OF
silver coins. They could not exist
in their crowded condition, ii silver
coins were denied To them.
In Japan, China and India silver
coins are the only money used by the
peopi,.
All OF Eur, pc, Asia and Africa do
not furnish from their mines enough
silver to supply this never failing and
ever increasing demand. They are
compelled 10 purchase silver for the
supply OF this coinage and for its
increasing consumption in the arts,
and America Is the only part Of the
world that produces Il surplus of silver
for export.
All OF Europe, Asia and Africa buy
silver bullion from the Uniied States
and other American states at 30 cents
an ounce, and convert it into their
silver coins at more than 81 an ounce
With these coins they pay less for
labor than nne-hali the wages we pay
the laborer. With this advantage.
they can DEFY even Mckinley tariffs
and undersell us with their man
uiactures i'll our own markets. They
are doing this now and will continue
to do So rs long as we furnish them
silver at 30 cents an ounce, or at any
figure less than lis full legal tender
coinage value, with which TO pay for
labor
The European States keep their sub
sidiary coins at par with gold by limit
ing the supply of such coins to the
sum that prevents their competition
with gold, and by refusing to them
full legal-tender power. When the
people need more silver coins, and the
consequent demand increases the price
of silver bullion in the market, the
European governments suspend the
coinage and keep the commercial value
of silver depressed.
In doing this they accomplish the
double purpose of getting American
silver bullion at less than half il.
value, and of pevenling labor from
measuring the price OF its toll by +
reasonable supply OF money.
With 30 per cent. advantage in III,
cost of the silver bullion they buy from
us, that pays for labor at half price
as compared with its coined value, il
is no lst cause for surprise that oul
highly protected manufacturers art
now III state of alarm nj the crowd
ing of our markets with goods from
Europe and Japan, Chi ia and India
Ii is no wonder that our best mills ar,
being closed. Falling prices, tha
will continue to tall, must necessarily
close the mills that are competing will