The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-08-06
Decentralization OF IRON.
Here Is a SOutherner who Has u New
Cure for Poverty.

From the Atlanta (Ga) Journal.
Alexander p. Hull, of Atlanta, is Il
strong l6 to man. He does not believ"
in halfway measures. The free COIN
age of silver idea is too tame for him.
He is willing to see the Silverites and
to go them 100 points better. Here are
his declaration, proposition and argu-
ment:
Having been deeply impressed by
the arguments Of Judge Crisp, Bryan,
Stewart, Jones and other silver leaieis,
and especially grieved, shocked ana
Mortified by the awful crime OF 1873, as
so luridly depicted daily in the COL
umns of the Atlanta Constitution and
other silver organs, l have changed my
views on the money question, and am
ready to maintain the propositions fol-
lowing In joint debate or newspaper
controversy:
II accept the arguments of the advo-
Gates of silver and agree with their
remedy as far as it goes. However, 1t
does not go far enough. Let us have
plenty of remedy-in fact, enough to
make debt and poverty things Of the
past, relics of the dark ages. l am il
favor of the free and unlimited coinage
of pig iron at the ratio of 16 to l with
gold by the United State lone, inde-
pcndently of all nations, and can prove
by the best authority obtainable that
such policy on the part of the United
States will raise prices put plenty of
money in circulation and give the hon
est debtor a chance to pay his debts,
thereby making the whole country
prosperous.
Now, in the first place, 1t may be
urged by some who do not understand
the subject of standard of value that
free coinage act for iron would raise
its price to a ratio of is to / with gold.
To them I reply that the stamp Of this
government and the legal tender quail
tiles of the iron dollar would instantly
make the bullion value of pig iron the
same as the mint value. For VINO
would part with an ounce of this pre-
cious metal for anything else than the
mint value?" (Stewart, Jones and Bry-
an.)
Again, it may be urged that our mint
would be overcrowded with pig iron.
reply that the price of pig iron having
been raised from $3.50 a ton to a ratio Of
16 to with gold the world over no one
would especially care to carry 1t to the
mints, since the mint price could be OBJ
tanned anywhere in the open market
ATLANTA Constitution) Next it may be
urged that gold and silver would go out
of circulation. I reply. first, This is a
mere assumption of the tools of the
money power which they cannot verify
4
pose gold and silver do so out Of circu-
lation, is there not plenty of pig iron
to take their place and give the people
plenty of money" Bryan); and, third
such an assumption mixes the ideas
of circulating medium and standard Of
values; gold and silver would still be po-
tential money metals, though not in cir
culation. and would lend their help to-
ward raising prices and causing gen.
eral prosperity (CrispD
Then. again, 1t may be urged against
the pig iron standard of value that
wages would not rise in proportion to
prices. The reply is. Wages would he
compelled to rise, since no man wou:i
be fool enough to work for 81 day
who could make 81. 900 a day picking up
rusty nails and old horseshoes and car
rying them to the mint for coinage
Hull)
I'm addition, It may be urged by the
money power, by the Wall street
sharks and the Bond street Shylocks'
that we could not alone go on a pig iron
basis without an international agree
ment. TO such dastards as dare to lay
limit to the power of the American
people to do what they plee Sc inde l,ni-
emily of all nations. hurl their COW r.
ice and lack of patriotism back in their
faces UBryan.)
THE crime of demonetiz' 'ng pig iron
took place about 1900 years ago. when
| certain 'goldOlators' and 'silyerites,' IN
order to increase the purchasing power
of their ill-gotten wealth secretly and
like thieves in the right got the de-
monetiyatlon act passed revealing the
good, old free coinage act OF Lycprgu..
the friend Of our ancestors daddes'
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