Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1896-03-05
DR.. HILLS PAMPHLET
SUPPOSED 5l-yEaTrE WRITES
AGAINST FREE COINAGE.

eSeit1 F6EE COINAGE.
/, wscld Ln-er Oar STANDARD O. vain.
Ard Would Sos Give rs Is to 1 Coinage.
A Pamphls. Whieh HA. DomfourasA
the free silver Penpl.
Dr.. ". P. Hill os Sc. Louis has ius
written a panpales e1;isled Argument
Ayains, Free Silver Coinage a. Is 10
J." which has d1uato1rdsd tha free 81.
Ver Ieople- d.. Hill Is ,he yo1nyest sca
q the lz.s Briscon a Hill, o1e q tie
ablest cha1a pions Of f.. money II taS
od Greeuback party. D.. Hill was eda.
Gated il the best universities in E1rore.
II mas been generally supposed TIA. ks
yc1ld foilow in the footsteps Q. nj.
:=-ae: and advocate cheap nacnev. TLere
u hts.s do1b. but tina. ne made a
sren.zi study # finance FIX the pupose
Q. ssc1riLg Arguments against the gold
Standard Study changed his orinio1s,
a. is arparen. from the following quo
ration from his excellent pamphlet:
Many peopis innocently imagine tina.
the free cninAys II siI7e- . simply a
proposition 70 open ou- niu,s more
freely 20 silver and 70 maintain our
money a. i.s present standard u value
On the gold basis, and that by adopting
ire coinage We are not going 70 detase
and loTer the value u CUP money, bot
raize the price of silver all over the
world to i6 70 ratio with gold
There cUE BE no greater mistake.
They fail 70 see that il also involves q
change in cur Unit, standard or meAs-
ure u value.
II the proposition vas that the United
States should give gold dollar for ev.
cry 37lI grains II pure silver broushs
70 the minta, then that would really Be
an attempt On the part u our govern.
ment 70 raise the price of silver, and
how long we could raise i. would de-
pend On how much silver there was in
the world and how much gold We had
But this is not the proDsition- The free
silver idea il that We mus. stop insult
ing the silver dollar By redeeming it
and giving a gold dollar for il, and
their proposition is simply 70 stamp a.
q dollar every 4l21a grains II standard
silver brought TO the mint, and that
this piece ri silver 80 STAMPED shall Re
cur unit or measure IT value
Is it possible 70 believe, when the
the new law shall sag tina, 4121z graiu4
II standard silver shall constitute the
value ri our dollar, that the dollar will
Be worth any more than that: Under
the present system We have issued mil.
lions II silver dollars On the ratio of 10
n !. The world has steadily refused 70
accept cur dictum az 70 their value, and
We are compelled 70 maintain large
gold reserve, and not only stand ready
10 redeem all those dollars, but also
constantly 70 redeem many II them in
gold 10 maintain their value.
We are staggering under Cur lad
now with our present silver circulation
and have difficulty 70 maintain our gold
reserve. viii our Lad b lighter when
we undertake TO coin the worlds sur
plus of silver: Will the world accept
Cur dIctunn more readily, when, IN the
one hand, We will loudly assert the lG
70 ratio, and, On the other hand, reso-
lrtely give the lie 70 cur own words BY
refusing To exchange them at the ratio
Of 10 u l. which il the only way We
can make CIR words count fox anythings
The director II the United States
mint estimates the coined silver money
of the world at $4,055, 100, 900, which
il about 80 Per cent If the total. OF the
coined silver money more than e., 000,.
900, 900 passes current at exactly the
same value az the silver bullion in the
market, and would flow just like so
much bullion 10 any place where it
could obtain hiyher price. The
worlds annual production amounts TO
$500. 900, 900; the annual production in
this country alone TO &s4, 900, 900. Our
gold reserve amounts to barely $780,
600, 900
Suppose that BY free coinage we could
possibly raise the price of silver in this
country TO double what it is now-we
need not say double, but even fraction
more than now-does any man need to
be told that that would start flow Of
silver TO this country, and that our lit
overwhelmed. and that the mighty
stream would never stop flowing until
all vestige Of higher price had been
completely annihilated' And ~hen that
had been accomplished, does any man
need TO be told that our dollar would
simply be worth what 4i21a grains Of
standard silver would be worth in the
market az bullion: This fact is unan-
swerable-there is no free silvsr country
in the world where the dollar on unit Of
value ia worth one particle more than
the silver in It as bullion in the market.
Our attempt would be about as ridic-
ulous az II we tried to stop the ebb and
flow Of the ocean tides by an act Of con.
gress, or TO regulate the movements Of
the planets.
'sDefuelixed" Wood.
"DefuelizatiOn" is q new word added
10 the language, told in story by Sen.
ator Palmer about an Illinois farmer