The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1896-07-23
ALEXANDER L. HULL OF ATTAIN,
IA, GEORGIA, HAS A NEW
SCHEME.
SILVER DOESN'T GO FAR ENOUGH.
The Stamp of the Government Will Roiso
Iron to the Mint Value-Hulrs Idea
Is Commended to Consideration
of Careful Readers.

strong 16 to 1 man. He does not believe
in halfway measures. The free coinage
of silver idea is too tame for him. He is
willing to see the sivertes and to 90
them 100 points better. Here are his
declaration, proposition and argument:
Having been deeply impressed by tie
arguments of Judge Crisp Bryan, Stew.
art, Jones and other silver leaders, and
especially grieved, shocked and Mortified
by the awful crime of 1873 as SO lurid.
ly depicted daily in the columns of the
Atlanta Constitution and other silver or.
gans, | have changed my views on the
money question, and am ready to MAIN
tain the propositions following in joint de,
bate or newspaper controversy:
Il accept the arguments of the adyo-
Gates of silver and agree with their rene
| dy as far us it goes. However, it does
not go far enough. Let lis 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
unlimited coinage of pig iron at the ratio
| VI ~ W WIN SOltl ny lue Unllpu states
alone, Independently of all other nations
and can prove by the best authority OBJ
tainable, that such Il policy on the part of
the United States will raise prices put
plenty OF money i'll circulation and give
the honest debtor Il cnance to pay his
debts thereby making the whole country
prosperous.
Nov, in the first place, it may be urg-
ed by some who do not understand the
! subject of standard 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 gov
ernment' and the legal tender qualities
[ of the iron dollar would instantly make
the bullion value of pig iron the same as
the mint value. For who would part with
an ounce of this precious metal for any
thing else than the mint valueY (Stewart,
Jones and Bryan.)
Again, it may be urged that our mint
would be overcrOwded with pig iron. |
reply that the price of pig iron having
| been raised from $3.50 a ton to ratio of
IL to, l with gold the world over no one
would especially care to carry it to the
minis, since the mint price could be OBJ
| tanned anywhere in the open market
| ATLANTA Constitution.) Next it may be
urged that gold and silver would go out
! of circulation. | reply, first, this is a
mere assumption of the tools of the mon,
ey power which they can not verify Cat
| lanta Constitutiom: second, suppose
gold and silver do go out of cir
culation is there not plenty of
pig iron to take their places and
Bryan: and, third. such an assumption
mixes the ideas of circulating medium
and standard of values: gold and silver
would still be potential money metals,
thought not in circulation. and would
lend their help toward raising prices and
causing general prosperity (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, since no man would he
fool enough to work for 81 day who
could make $1,000 day picking up rusty
nails and old horseshoes and carrying
them to the mint for coinage CHull)
IN addition, it may be urged by the
money power, by the Wall street
sharks and the Bond street Shylocks'
| that we could not alone go on pig iron
| basis without an international agree
ment. TO such dastards as dare to lay
a limit to the power of the American peO-
| pie to do what they please, independently
fOf all nations. | hurl their cowardice and
lack of patriotism back in their faces
| (Bryan)
"The crime of demonetizing pig iron
took place about 1900 years ago. when
| certain 'goldoatOrs' and 'silverites. in
order to increase the purchasing power
of their ill-gotten wealth. -ecretly and
like thieves in the night got the de-
mOnetiZation act passed repeating the
good old free coinage act of Lycurgus,
the friend of cur ancestors daddies.'
Today China is the only country on
earth honest enough to coin iron, and
there the happy laborer can carry home
the wages of his honest toll in wheel
barrow ATLANTA Constitution)
"A ruinous fall in prices followed the
demonstration of iron and has con-
tinued for upward of 1000 years. l
have calculated the losses entailed upon
the honest people of this world by this
ruthless act, but the figures are so tnor-
nous | fear a revolution will ensue if
the people learn how greatly they
have been robbed. But facts are
facts, and the best way to right wrong
is to meet it squarely. That loss is
sd, 600. 100000. 900, O0O, 0OO. 900, 600, 00O,
000.' cCoin's Financial School.D
''In conclusion, l insist that the free
coinage of pig iron will do everything
that is claimed for silver and infinitely
more. The people will be rich and pros
porous. The once poor man can pay
his debts with his old stove. Railroads
WORKOUT rolling stock. The small boy
enough to support his family. In fine,
Atlanta Journal 8