The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1896-10-07

that we must buy. The fact that the
/ gold dollar has been driven out of cir
culation by the silver one will be for
chile reminder to people that il must
be a dollar Of greater value, and they
will still make it the standard; and
knowing that the silver dollar contains
metal that cost but fifty or fifty-three
cents (gold standard) they will in all
eases when they have anything 10 sell
take care that they ask enough for it
in these debased dollars to bring the
price up to the standard they have in
mind; that is why prices will be in
creased and raised. 1t is because those
who are TO receive it know that large
part of the value il seems to bear on its
face is false and fictitious, compared
with that of the gold dollar that has
been driven out.
The reason that the farmer who will
sell his wheat for one Of these silver
dollars (instead of 80 cents as now
will have only 80 cents, is because this
dollar will only buy half as much as
dollars would buy that were kept equal
with gold. He will find that with
that sort of money everything else has
kept pace in price with his wheat
We must measure the value of the dol
lar by what we may get for ii as well
as by what we may give for it. He
will also find that when he is spending
his silver dollar, if by chance he can
fish out gold dollar that so far has re-
mained hidden in the bottom of his
purse he will have no trouble what
ever in getting more goods in exchange
for it than he can for his silver dollar
In the days when the greenback was
in its glory the business Of the country
was done in paper dollars; but when
ever a merchant or tradesman had any
goods Of any sort brought into this
country from England, France or Ger
many, he could not pay for them with
paper dollars, but must needs seek for
gold among persons who had boarded
il and tempt them by offering them
enough of these paper dollars in the
way of premium 10 induce them to
part with their gold. OF course, he
sold the goods for paper dollars, but he
took care To get enough of them for his
goods to reeOup him. The consumer
paid all of il in the end. Just so il
will be with free coinage of silver. 1t
will be the old story over.
But, we are asked in reply to all this,
will not silver dollars with free coin
age, have just rs much pure silver as
the silver dollars we now have? The
answer is yes. Then why are our pres
ent ones considered good as gold, and
yet the free coinage dollars would not
be? What is our present silver dollar
really worth? Well, il is really, so far
as the metal in it is concerned, only
worth about so cents, the remaining
49, cents are practically wind.
But there is this difference: Both the !
coinage and issuing Of these dollars are
the act of the Government. 1t bought |
the silver at its selling price, which was
be.Ow the coinage value, coined il up to
the fall mark, and has made a profit,
greater OF less, on each dollar issued; |
and ii has assumed the duty of keeping |
all of its money, of silver or paper, on |
an equality with gold, and We are tax
ing them ON the faith that it is both |
able and willing To do so. Let the Gov !
ernment fail to keep itself in a condi-
ton TO do this; let 1t say to a man who I
has its paper or silver money that it has
no gold, and can give him none in ex-
change therefor, and at once would our
present silver and paper money drop
below par. 1t would not even need the
help Of free coinage TO bring about this
result.
The present coinage of silver dollars
being the act of the Government, it is
responsible for keeping them up to the
standard. Ii is also careful not to put
out any more of them than it can well
take care of. With free coinage it will
be entirely different. The Government
no longer buys the silver, but the man
who has il takes it to the mint, where it
is weighed and tested; then the mint |
stamps the pieces, We will say, Zone
Dollar which in effect is to say that /
each piece has certain weight, and
that the metal is of certain degree of |
purity, and hands il back in that form /
to the party who brought ii. That is
free coinage; the Government does this !
work free of charge. 1t don't pay out
or put these pieces into circulation;
that is the business of the man who |
bas had the silver minted into these
dollars. The Government has no res
possibility for them, neither has the |
party for whom they were coined; once
me has persuaded some other person to
give him something in exchange for
them he is also done with them. They
must thenceforth stand on ther own
merits. People will give just rs much
Of their wheat, products or merehan-
disc for them as they may think them
worth-no more. If debt is contract
ed of which payment is to be made in
this sort of dollars, the creditor will see
that the debt is big enough in amount.
Some may even exchange gold dollars
for them, but we will hazard the predic-
ton that it will not be on the basis of
yellow dollar for a white one. W,