The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-06-06
1@-ss : u y : > ~
WHAT FREE cNSAGE MEANS.

The Cincinnati Enquirer is one of
the potential influences that has made
Ohio, Kentucky and Indiana strong
on the side of silver. Its editorials
have bristled with points that the OPP
Moments of real bimetallism could not
answer. In a recent issue, the En-
ouirer tells what free coinage would
mean as follows:
THE free and unlimited coinage OF
silver means that neither the Presl-
dent nor his Secretary of the Treasury
would be allowed any longer to boy
colt the four hundred and twenty
eight millions of standard silver dol
lars now in existence. The power
that could re-establish silver coinage
would compel the use of silver with
gold in the redemption of greenbacks.
This would do away with the false
nretense that bonds must be sold with
which to buy gold to redeem green
hacks. 1t would remove the constant
menace by the gold gang that the le-
GAL tender quality shall be taken away
from the vast amount of silver dollars
now in existence. 1t would add
enough to the money in circulation In
the country each year TO keep pace
with the increase of population ana
the requirements for domestic eX-
changes, 1t would make all the SILVER
bullion in the world worth just as
much as though it were already coined
into dollars. 1t would stop green
backs from being presented at the
Treasury, because Heidelbach' lckel-
heimer & Co. and the rest of the breed
of gold spectators would be offered
silver when they demanded gold, ana
they would not want 1T. Free coinage
would guarantee the stability OF the
currency. The grinding contraction
now going on would cease. The Dor
rowed surplus in the Treasury OF
nearly 5000. 900. 900 would be expended
in grand public Improvements, IN
GLIDING coast defenses, and thus be re-
stored to circulation among the peo-
nile. 1t would gradually raise the gen
eral level of prices. The production
of wheat and other farm products
would be resumed on the former scale.
Manufacturers of every description
would no longer engage in a mere
hand-tp-1nouth production, but would
manufacture for the requirements OF
the coming year. This would give
work to those now in distress. ana
would enable laboring people them
selves to buy what they are now dong
without. under the harsh compulslon
of poverty The commerce between,
forty-five States would be resumed;
railroads would be taken out OF the
hands of receivers. because they could
again earn interest on their debts and
expenses and something more. The
of the panic maker would
be gone, With freee coinage would
come a President and Secretary of the
Treasury who would not spend half
their time bawling to the world that
their government is bankrupt and
comnelled to sell its bonds at 20 per
cent. discount from the interest rates
of the world to enrich favored syndl-
Gates for some unfathomable reason.
Free coinage would stop the borrow
ing of money in times of peace for the
purpose of obtaining gold with which
to pay obligations not payabie IN
gold.
''In brief, free coinage would mean
a back seat for syndicates and their
official Instruments back seat Tor
the bears Of New York stock market.
and for the pawnbrokers throughout
the country. Tt would mean that
money would be more profitable when
invested in business enterprises than
when laid away in napkin to breed
upon itself. Tt would mean fair play
among men. and only 100 cents on the
dollar in the payment of debts.
and free coinage is coming unless
bribery and corruption are stronger
In the land than the honest expression
Of the peoples will"