The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1896-09-23

catching the gold upou amalgau'atea
plates. There are 20 by-produc;s
Silver mining ou the contrary is at
present poor n,an's industry, or wa~
during the period when it wa sx'en-
s!vely coined. The old Mexican pro-
verb about it requiring gold mine to
work silver mine 20 longer applies IN
liz original sense. since The establish
,nept cf cusrom smel;eries and re6ner-
les worked upnn scientific principles.
Under free coinage p,or nan ca0 To-
cate for himself a silver lode or deposit,
or lease portion Of oue already open
ed, ard c,ine the ore aud ship TO the
spel,eries. where he receives pay for
no; ouly the silver alone, bus also for
the lead. copper. bismufh. gold and
other metal. contained ic the ore, for
it is peculiarly Of silver ores that
they coptain as rule proportions Of
other metals, while gold quartz rarely
contains anything else of value. The
poor silver miner needs little or no ma
cb,uery. but bis work gives rise to
multitude of collateral industries con-
nected with smelling and re6oing.
Should free coinage be established there
will, | think. be an exodus of unem-
ployed to the Rocky mountains nearly
or quite as great as the sudden Influx
of miners aud laborers from the West
to the East and South which occurred
at the time of the great fall in silver in
the spring Of '93 when :ts coinage was
discontinued in India. I was witness
to that disastrous emigration from the
mining regions. and saw troops Of 30
to 60 miners in separate bands leaving
the mountains afoot. The statement 80
often made tba. the value Of the silver
in dollar is only about 53 or Sd cents
is therefore quite misleading. and re-
suits from an unfair comparison of the
value of coined dollar with uncoiua-
Bile bullion Let both metals have
equal coinage privileges, aod it appears
at once that the relative values of equal
weights Of the coined metals must bear
the ratio to each other of the cost Of
their production, if no coinage ratio
whatever we're fixed by law. This
ratio Of cost is ii anything less than II
to l, certainly not more than II or l8
20 |. To NY mind this dlaposes Who'll.
ly Of every possible objection to free
coinage. 1t is the false assumption Of
So cent dollar that is at the bottom Of
every argumen. that | have seen
against free coinage by the United
States alone. and l think if it we're
more generally understood the hesita-
ton Of our people to accep: this great
reform would melt away
The newspa psrs are full at the pres
ent time of statements to the effect that
in to-, event of free coinage. wage
earners will be paid 10 deprecated
money !; BANKERS threaten to pay their
depositors in currency worth only So
cents on the dollar, aud the president
Of prominent insurance company as
sures his policy holders that they will
oply receive half the amount they are
Insured for it free coinsge wins. It ls
very evident that capitalists. bankers
and importers are opposed to any TO-
crease in the volume Of money. but
their sinoority in proposing coolly to
defrsud their clients and deposi'ors out
of At cents on the dollar may be ques-
toned. If they believe that they could
double their profits at single stroke
by free coinage, it is very probable
they would say nothing about the dis
aster 10 their depositors aud policy
holders, but suietly work for the co.,
summation Of the very idea they op-
pose so vehemently. The same papers
which urge the idea Of So cent dollars,
at the same time oppose free coinage
because it would enrich the owners Of
silver mines And strangely enough
tbed urge protection to special indus
tries at the same time! 1t is no WOO
der that the public at large is begin
ming to lnistrust the sincerity and good
faith of these self styled educators
aud their loud pretence Of upholding
uatioal integrity aud honor, at the same
time that they charge every manner Of
dishonesty upon those who believe 10
bimetalism from sincere conviction
tbat through it alone the people will be
delivered from their present unhappy
aud discontented condition. The free
coinage idea cannot be ex;erminated by
rid;cu1e, nor by the power Of mouey.
It is bound to prevail sooner or later !;
that is admitted by most of the oppo-
nents of separate action by the Uo'ted
States. The only way to resume free