The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1896-10-14
Here 1t Is.

n, L. Hull vi hJlduIds shyo VIC Az
lanta, Ga, Journal, is a strong 16-to-1
man. He does not believe in halfway
measures. The free-coinage idea of
silver is too tame for him. He is will
ing TO see the silverites and to go them
| 100 points better. Here are his declsra-
ton, proposition and argument:
Having been deeply impressed by the
arguments of Judge Crisp, Bryan, Stew.
art, Jones, and other silver leaders, and
especially grieved, shocked, and hor-
rified by the awful crime of 1873" as
so luridly depicted daily in the col
umns of the Atlanta Constitution and
other silver organs, have changed my
views on the money question and am
ready to maintain the propositions fol.
lowing in joint debate or newspaper
controversy. | accept the arguments
of the advocates of silver, and agree
with their remedy as far as it goes.
However, it 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.
am in favor of the free and unlim-
tied coinage of pig iron at ratio Of 10
% l with gold by the United States
alone, independent of all nations, and
can prove by the best authority OBJ
tainable that such policy on the part
of the United States will "raise
prices,"" put plenty of money in Cir
culatioD," and give the "honest debtor
chance TO pay his debts" thereby
making the whole country prosperous.
Now, in the first place, it may be
urged by some "who do not under
stand the subject of standards of value
that free coinage act for iron would
not raise its price to ratio of 16 to l
with gold. To them l reply that " the
stamp Of this government and the
- legal tender qualities of the iron
dollar would instantly make the bullion
value of pic iron the same as the mint
value. "For who would part with 40
ounce of this precious metal for any
thing else than the mint valued"
| (Stewart, Jones, and Bryan.)
Again, il may be urged that our
mint would be overcrowded with pig
iron. l reply that the price of pig iron
! having been raised from $3.50 ton to
ratio of 16 t. l with gold the world
over, no one would especially care 10
carry it to the minis, since the mint
price could be oh aiued anywhere in
the open market" (Atlanta Consti-
tutiOn).
Next it may be urged that gold and
silver would 90 out of circulation. |
reply, first, "This is mere assump-
ton of the tools of the money power
which they cannot verify" (Atlanta
Constitution); second, Suppose gold
and silver do 60 out of circulation, is
there not plenty of pig iron 10 take
their place and give people pl nty of
money! Bryan); and third, "Such
an assumption mixes the ideas of circu-
lating medium and standard of value !;
gold and silver would still be pot, ntia
money metals, though not in circula-
ton, and would lend their help toward
raising prices and causing general pros
perity." (Crisp)
Then again, it may be urged against
the pig iron standard of value that
wages would not rise in proportion to
prices. The reply is, "Wages would be
compelled to rise; no man would be
fool enough to work for 81 day who
could make 81 1000 per day picking up
rusty nails and old horseshoes and car
rying them TO the mint for coinage"
(HulD.
In addition, it may be urged by the
monty power, by the Wall street
sharks" and the " Bond street Shy
locks that we could not alone 90 on a
pig iron basis without an international
agreement. "To such das.ards as dare
to lay limit to the power of the Amer
lean people to do what they please, in
dependently of all nations, hurl their
cowardice and lack Of patriotism back
in their faces" (Bryan.)
The "crime" of demonetizing pig
iron took place about 2,200 years ago,
when certain 'goldolators" and "silver-
ties in order TO increase the purchas-
ing power of their il-gotten wealth, Sc.
cretly and " like thieves in the night"
got the demonstrating act passed re.
pealing the good old free coinage OF
Lycurgus, the " friend of our ances.
tors daddies." To-day China is the
only country on earth honest enough
to coin iron, and there the happy la
b0rer can carry home the wages of his
honest toll in wheelbarrow. CAT.
lanta Constitution.)
A ruinous fall in prices followed the
decentralization of iron and has contin
ued for upward of 2 900 years. l have
calculated the losses entaied upon the
honest people of this world by that
ruthless act, but the figures are so enor
nous | fear revolution will ensue il
they learn how greatly they have beer
robbed. But facts are facts, and the
best way to right wrong is to meet il
squarely. "That loss is 1871 900 100000,
900, O0O,0 10000 100000, 100000" {" Coins
Financial School.O
In conclusion, insist that the free
, coinage of pig iron would do every
thing that is claimed for silver, and in
finitely more. The people will be ricl
and prosperous. The once poor mar
= can pay his debts with an old stove
> Railroads can declare dividends on ole
, rails and WORKOUT rolling stock. Tht
i, small boy can pick up old nails ant
horseshoes enough to support his fam
| lily. In fine, poverty and debt can n,