The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-08-03
A SUGGESTION FOR THE FREE-SIL-
VERITES.

II a deprecated silver currency is a good
better. and If the, advocates of free silver
really believe that it will be a blessing to
the people they ought to wish to make the
blessing as generous and universal as pos
sible. That being the case they should. ia
vor any policy that will food the country
with cheap silver dollars as soon and as
completely as possible. The free and un-
to 1 would do this in time. but it would
take several years to bring about the de-
sired degree Of imitation and plethora of
cheap money. The expulsion Of about
$500. coo, 900 of gold from circulation would
leave that vacuum 10 be filled before the
volume of currency would reach it's pres
ent status. and as it would nave to be filled
with dollars worth only so or 80 cents it
would take nearly ZOO. 900. 900 of them to
do it. The Director of he Mint says shat
IL all the mints were put to coming silver
dollars they could not coin more than 100,-
100000 a year and keep up the other nee
essary coinage of subsidiary silver. nickels
and cents. Thus il would take about six
year. to coin as many silver collars as
there would be gold dollars driven out of
circulation. and. allowing for difference of
value. nearly twice as long. Even then
the volume of the currency would only be
what it is at present. True. the desired
condition of imitation and cheap money
might be accelerated in another way, for
the Chicago platform also demands that
Congress shall issue paper money, which
shall be- a legal tender for all debts, public
and private. In any event. however, it would
be several years before the cheap money
millennium could be reached.
Assuming that the Popocrats are honest
ly DESTROYS OF bringing about the blessings
of a deprecated silver currency as soon as
possible 1t is surprising that they neglected
to insert in their platform a plank demand
ing that Mexican silver dollars be made
legal tender In the United States. Con-
gress has undoubted authority 20 do this.
The Constitution says Congress snail
nave power ito coin money, regulate the
value thereof. and of foreign COIN Under
this provision Congress has at different
times passed ten or twelve different laws
declaring the value and legal tender quail
ity of foreign coins in the United States.
There is no doubt whatever that ii has the
same authority to declare the 50-cent Mex
lean silver dollar legal tender at it's face
value in the United States that II has to
so declare a 53-cent American silver dollar.
The effect OF such a law would be to make
the United States a very attractive field for
the circulation of Mexican dollars. and in
a short time the country would be flooded
with them. In this way the realization of
the silver millennium could 10 sieatly ex-
pcdited and the American people would get
the benefits of cheap money much sooner
than they will be IL Obliged to depend on
contains five grains of pure silver more
than our standard dollar. there ought not
to be any objection TO such a law on the
| part Of the friends OF silver. AS one i'm
portant change has already been made in
the Chicago platform since the convention
| adjourned, namely. that in the resolution
regarding gold contracts. II may not be toe
late yet to have a resolution added de-
manding that Mexican dollars be made fu;l
legal tender in the United States.