Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1896-09-05


or any other coinage? In which does II
mention any coinage further than to au-
thorize the general government to coin
money" and regulate the value there
of" Acting under that authority Con-
gress Mt first authorized coinage at ID to
l. Was that the gold and silver coin
age of the Constitution" If so, how
has 10 to l come to be the coinage of
the Constitution? Under the first ratio
silver was undervaued and refused to
circulate except in the form of worn and
abraded foreign coins. Our own silver
coins, even the subsidiary pieces, were
melted down for bullion because they
were worth about per cent. more than
gold dollars. In all the period up to the
time of the great silver discoveries Con-
gress sought to make the coinage ratio
the same as the commercial ratio. 1t
never authorized coinage at any other.
Was that the coinage of the Constitu-
tionT" If so, will it be n return to it for
us now. to establish free coinage at the
ratio of 16 to 1 when the commercial
ratio is about 81 to 1?
4. Will not free coinage at 16 to ] re-
duce the value of the dollar unit by about
one-half?
8. VIII it not be in fact a Reputation
of about one-half of all our debts, public
and private?
9. Is there not danger that it will
cause the return to us of all the Ameri-
can securities held abroad-government,
railroad and industrial stocks and bonds
thus precipitating panic of giant pro-
portions, with long years of depression to
follow?
4 Will not your election upon the Chi
cago platform cause the calling in, be-
tween November and March, of all col
lectable debts, all loans, all mortgages
that have expired? And will not this
produce such a distress as this country
has never known, particularly in the
West and South, where capital and
credit are most needed and depend upon
confidence as their basis?
3. Will not free and unlimited coinage
| drive all the five or six hundred millions
as money or as bank reserves? Will it
not cause currency contraction of the
most disastrous proportions, inasmuch
| as the utmost capacity of the mints to
coin silver cannot make good this with
drawal for several years to come?
y. VIII not free coinage place us at
once on a financial level with Mexico,
India and China. and can we afford to
! go upon that level?
10. Is there any country in the world
today which gives free and unlimited
coinage to silver? Mexico does not.
India does not. None of the Central or
South American States does. We know
| of no country that does, of no example
that can be studied.
| IL. Is there any country in the world
now on the silver basis which is as pros
porous as the United States. even in this
time of depression? Is there any in
which wages are so high as they are
here, or in which the dollar received in
wages will buy so much? Is there any
silver-basis country that has large
commerce, prosperous manufactures, or
n well-to-do agricultural class? Is it
not fact that in every silver-basis coun-
try in the world abject and hopeless pow
erty on the part of the masses is the
rule?
-. Will you explain to us for our en-
lightenment and guidance how our coun-
try is to escape like conditions if we
go to a silver basis, or how we are to
| avoid the lapse to that basis if we adopt
free and unlimited coinage at 16 to
when the commercial ratio between the
metals is about twice that?
13. And if you tell us, as many free
coinage advocates do. that free coinage
will raise the commercial value of silver
to the coinage rate, will you explain to
us how in that case free coinage is TO
make money cheaper or easier to get.
how it is to relieve "the debtor Glass;"
how it is to increase the price of wheat
or any other commodity?
IA. You may be aware that there was
last year on deposit in the savings banks
of this state alone $643, ,S73,574. This
enormous sum belonged to 1,615,11S de-
positors, giving an average to each of
$39S63. 1t represents mainly the small
savings of the thrifty poor. Nearly all
of it has been deposited since the pres
ent standard of value was adopted by
the government. Dc. you think it fair
even 1 per cent. the value of the money
in which these deposits were earned and
in which today they would be paid?
15. There are in this state SS,719 pen
sioners They drew from the govern
ment last year nearly $14,000,000. Con-
/ s;I tho Do nf this laht of honor
when Justly due-can you look with ia
vor upon any policy that might result in
paying them in deprecated currency!
16. There are in the country 583s
building and loan association, of which
41S are in New York. These associa.
tions have 1,745,12 shareholders-all of
the working and saving classes. Their
assets last year were $3.50, ,667 ,594, repre-.
sented chiefly by mortgage loans to
homeseekers, of whom 1000 are mem
bers of the associations. These associa
tions have nearly all been organized with
in the last fifteen years under the exist
ing money standard. Can You think il
fair or beneficial to the working people
to reduce by AZ per cent, or any lesser
sum, the value of these investments Of
the thrifty poor?
II. Is it not fact worth consideration
in proposing descent to the silver stan
dard that the thirty-nine old-style life in
| surance companies alone doing bushes.
in this state last year had in force herr
nearly 100000 policies, insuring ovel
$4,000, 100000. The assessment compa
nies and various benevolent orders have
vast amount more. Would it not be al
injury and a wrong to the benefciarie
: of these polices-the widows anC
orphans, whom provident love haC
3 sought to protect-to compel them to re
: ceiye in payment deprecated money?
1S. The rise in prices" which yo,
predict as a result of free silver coinag
: would, of course, mean an increase in tn
t cost of living to all the people-to wage
e earners, salaried men, and the Who'll
: body of consumers. Do you know of an
/. case in which rise in wages or sala
: ries has been parallel with the rise il
+ prices? Is there any way to render
certain, or even probable, that the wage
Y earners will be compensated for the in
e creased cost of living?
r 10. You attribute the decline in silve
to the demonetization of the silver do
! lar in 1879, though that dollar was no
o then coined in any considerable numbers
!? and was not in circulation at all, OWN
to the fact that silver bullion was wort