The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-09-19
HAYEYOU COUNTED The COST?

bugs wants 20 squeeze us poor devils.
"Oh I'm on TO their little racket-Pm |
for sixteen TO one and don't you for
get IT,"
A torrent of tobacco juice and yolley
of profanity brought his remarks to hn
abrupt conclusion.
There are large number of equally
precocious pupils in this mans class.
What does sixteen TO one mean2
IL means that this government shall
coin all the silver brought TO It's minis,
at the .,atio OF l6 ounces of pure silver
20 one ounce OF pure gold.
In other words, IL means that while
the worlds commercial ratio is 81
ounces of silver 10 one ounce OF gold, or
thereabouts, this nation shall fix IL at
sixteen TO one, and make its silver dol
lars legal tender for all debts of both
a public and private nature.
To make il still palmer, it means that
the United States government shall
pledge itself to purchase the product of
the worlds silver mines, and turn over
dollars that we have stipulated shall
pass for 100 cents in return for every
90 cents worth OF the white metal de-
posted at our minis.
This, then, is the proposition, and the
question is: can this nation do il without
the aid or consent OF any other nation
on earth and maintain its dollars at
aparity.
We answer no; II cannot be done.
1t is ms true to-day as when in the old
Continental congress Patrick Henry
LII f.Ne do he 10
of mankind is the lamp of experience"
This is the true light Of statesman
ship and government.
Nowhere is this fundamental princi-
pie more applicable than in the field of
finance.
No one country has ever been able to
establish the free coinage of both gold
and silver, giving to each full legal
tender quality, and keep both in circu-
linton at parity.
For 500 years England tried TO do II;
she had ironclad laws against the ex-
portation of coin.
What was the result?
In the end she lost all her gold and
was actually driven to adopt the single
standard i'm 1906
1t is automatic, that wherever and
whenever In the currency OF country
one metal is oyerrated in comparison
with another, the underyalued metal Is
driven from the country.
Let MS challenge your attention TO five
propositions from the pen of the pres
ent secretary OF the treasury, which
bristle with Significance:
/. There is not free coinage country
In the world to-day that is not upon q
silver basis.
2. There is not gold standard coun
try in the world to-day that does not
use silver along with gold as money.
3. There is not silver standard coun
try in the world that uses any gold al
money along with silver.
4. There is not n silver standard coun
try to-day that has more than one-thire
OF the circulation per capita OF thu
United States.
g. There is not n silver standard coun
try in the world where the laborinl
man receives fair pay for his day
work.
The only countries whose minis arr
open TO the free and unlimited coin
age of silver are japan, Mexico, unite'
States Of Colombia, Bolivia, Chilli, Ecua
dor and Peru. Silver coinage in al
other countries being on government
account only.
Wages nre the lowest in these coun
tries.
Do you want America to take he
place in such column?
But we are told that free coinage o
silver, sixteen to one, would furnis
such market for and create such
demand for the white metal that il
value would climb the ladder until IL
commercial value would shortly cqus
its coinage value.
That this is unsupportable, let IN
call your attention briefly 10 two piece
of legislation In the interests OF 81
yer, both OF them enacted since 1873.
First, the Bland-Allison bill, whic
became law February %. 1873, restore
the 412H grain silver dollar 10 the coiI
nge, clothed with full legal tende
power, hut OF course did not open GU
minis 90 free coinage OF silver bullio
as before 1873.
The Bland-Allison net reestablishe
Nnt itOilNh WI ONi thhhiNo hAAu khN
II full legal tender quality except whe
expressly stipulated in the contract.
The law directed the secretary OF III
treasury 10 purchase silver bnllio
monthly at the market price therco
not less than S2.0OO,0O0 per month M
more than S4,O00,0OO per month, M
caused the same 10 be coined month
as fast MS so purchased into such dc
lars. Let ms pause Mt this point TO r
mark that these dollars did not ci
culate, however. Under the act OF 1s7
1916 tons OF silver were purchased
the government, costing $500, 190, 20
From this purchase s37s, l6G.703 silv
dollars were coined at an expense
$5.000,0OO, and yet not TO exceed OF
dollar out of eight dollars went into ci
culation.