The morning times., 1896-08-30

to parity with the 25.s grains of gold in
the gold dollar. worth 90 cents the world
over, is founded on fallacy and mustinevi-
tably prove futile and disastrous. Such
valuation would be fictitious, and while
the government would be compelled to
receive and coin all silver bullion presented
at its minis and might force its acceptance
in domestic trade. it could not force it
upon outside creditors. For what We ex-
port We would be forced TO accept silver
or silver certificates because We could
not refuse a legal tender money; on the
other hand, for what W. import w e would
be compelled to pay in gold, for our silver
would be discounted and accepted only at
its commercial bullion value, or q posi-
Bile slight advance over it. Thus our gold
would so out faster than 1t would come in
Again, the government could not pre-.
vent this boarding of gold by private indi-
dividuals as well as by corporations; for it
is a recognized economic law that given
two money metals, the cheaper will inevi
tably drive the dearrr from circulation
Thus we will be forced to the final result
of free coinage of dlver-silver IN onomet-
allism.
THE promised doubling of the value CT
farm and other products by free COMA ge
means lesscned purchasing power for the
wages of the mechanic, the clerk. or the ar
uZan. Strip the silver movement of its en-
ticing rhetoric and its appeals to class
feelings and prejudices, and the American
.echanic viii not. fail to see that the only
true prosperity for the American wage
Garner is to be found in a sound money
policy, development OF American industries
and the consequent Observation-Disclosures. We
do not want a larger amount Of money, but
a larger circulation of the money We now
have"
MUSICIAN Is IN LINE.
member of the Musical Assembly said:
Il am for gold all the time, for money that
is not any anywhere except in the United
States is really no good here Ever so many
| millions of dollars OF silver more world
do US no good; we'd have to work for it
just the same, and when we got it a dol
lar would only really be worth so cents.
Such money is not honest money, and no
| matter how the country is flooded with
| it no good can possibly result.
Mr.. J. B. Galliford. president of Amalga-
mated Carpenters, discussed the financial
question from the standpoint Of the wage
Garner. He Sltu tnat MS knowieuSe Ot the
good or evil OF the passage of free coin
| age law was obtained mostly from reading
| the current literature on the topic. and
| had decided against such policy. The
present gold standard, he believes. to be
the best Tor the workingman. Under free
coinage he believes that silver will he
reduced in value to about fifty cents, and
| this is the dollar the workingman would
get for his labor.
| Worse than this, however. while the
| dollar would lie cut do wn 90 per cent. the
| things he would " ant to buy would advance
/ in price and this would further reduce the
purchasing power Of the already dimin-
ished value OF the none he received for his
labor. The free coinage Of silver, he said
would not 80 increase the value OF money rs
to cause revival of business. What Is
needed, he thinks, Is that those who have
an abundance OF money should invest II
| in enterprises in which the laboring MAI
would have the interest Of bis labor; in
other words this money should be invested