Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1896-08-20

ton. We take pride in William Mckinley.
not only for the honor conferred upon Ohio
by the convention, but because we know him
to be fitted for that great office.
1t 80 happens that at the coming Presiden-
tial election there will be submitted to your
judgment two questions. one OF which Is
post 1t In the mints Of the United States
and have 1t coined for his benefit and with
out cost to him into silver dollars. each OF
the weight Of 412h grains Of standard silver
nine-tenths fine. and may tender them for
any debt public or private. The other Ques-
ton Is whether in levying duties or taxes on
imported goods we should only consider the
revenue required. or whether while raising
the needed revenue we should seek also to
protect and encourage domestic Industries;
the one Is called revenue tariff and the other
a protective tariff. Both the silver and tariff
are vital questions Of domestic policy Of
equal Importance, but I propose on this occa-
sion to confne my remarks mainly to what
Is known as the free coinage OF silver at the
ratio OF sixteen parts of silver to one of gold.
We are brought face to face with a propo-
sitlon which, II agreed to. will make silver
the sole standard Of value for all debts and
credits. for the wages of labor and the pur-
chase and sale OF property. The Democratic
party at Its recent convention at Chicago
s sd,Gpted "a 9 . resolution IT. ,hs in n.t fav % 18th; OF the free
OF silver to one Of gold. We know that In
the United States and In all countries In the
world thirty ounces or more OF silver can be
purchased by one ounce Of gold: With the
free coinage Of silver gold would be demon
etized. Nothing can be more certain than
that the cheaper money only will circulate.
It's silver coins at parity with gold coins
only by Its exclusive monopoly of coinage
and by limiting the amount, but with free
coinage Of silver there could be no limitation.
upon the minis, and with the mandatory
duty Of free coinage silver dollars will soon
All the channels Of circulation. and the gold
dollar will be boarded, or will be quoted and
sold as commodity at about 1914 cents OF the
silver coin. Silver will stand as the par value
,-Apd gold will be quoted at its commercial
value.
Let us contemplate the inevitable result of
the free coinage Of silver. 1t would violate
every contract for the payment Of money
actt4yhich vent into operation on that day,
provided for the payment in coin on demand
Of all United States States notes presented
silver or gold or paper, were then maintained
at par with each other, and have been so
maintained ever since. During all this period
gold and silver coins at par with each other
have been the standards OF value Of all
loans, contracts. or purchases, and the faith
Of the United States was pledged for their
maintenance at parity with each other. AL
though silver bullion declined In market val
ne, the coins made from 1t have been kept at
par with gold coins at the legal ratio OF 18
to l.
lied. then the market value Of silver bullion
contracts made In the past, the present. or
the future; 412h1a grains of standard silver
bullion, worth now 53 cents, can with free
coinage be coined into a dollar upon the de-
mand Of any holder Of such bullion. This
dollar ID delivered to the owner of the bull
lon, ana Is not supported by the nat of the
government. The Government does not I'M
dertake to maintain its relative value with
goid. The Government stamps 1t "This IL .
dollar"
it, purchasing power is 50 cents, but it,
oebt-paying power Is one dollar. 1t IL to be
tne purchase Of any article 1t Is only worth
p cents. for the seller Of the article can dx
as price according to the kind of money
anarchist, but ID In direct opposition to the