Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1896-01-21
The relative values of silver and
gold are determined by law.-Cresco
D1oin noolor

Plain Dealer.
If this be SO. why contend that the
relative values shall be made by law
as 16 to 1? Why not have them fixed
at to Ii And why stop at the two
metals7 Why not fix the relative val
ues of all things at to 1? Let the law
fix the value of any single article
equal to. the value of any other single
article equal to the value ofany Other
single article. Charles City Citizen
The principal reason for contending
for the ratio of 1G t, is, that the pub
lie credit strengthening act of 1860
makes silver dollars at that ratio law
full money-legal tender-for every
dollar of debt owing by the United
States. Coinage at any other ratio
would give the holders of government
bonds and securities, . plausible rea.
son for refusing it in discharge of the
! debt or obligation. The constitution
gives to congress the exclusive right
ito coin money, regulate the value
thereof and of foreign coin," which is
the limit of its authority, so far as
regulating values. Money has but
one value, no matter whether made
OF gold, silver or paper; and that is
lts/legal value. The United States
Supreme court has affirmed this as
the law of value in the United States.
also the supreme court of % states has
rendered similar decisions on our own
state in 1864 in case where $72O in
gold had been loaned before the pass.
age of the legal tender act, and the
note being expressly payable in gold
coin of the United States, the debtor
instead rendering greenbacks, the
Supreme court consisting of Hon.
Geo. g. Wright, chief justice, with
Lowe, Dillon and Cole, justices, rem
dered this decision, which may be
found in XVI Iowa, reports at page
25i.
Gold may fluctuate in the market;
there may be demand for it for the
most legitimate purpose; gamblers
may speculate in it at the risk of sac
rificing the financial if not the dearer
interests and life of the nation, and
yet WHEN THE LEGAL TEST is APP
Piled, EACH DOLLAR OF EVERY MODE
OR FORM OF CURRENCY. DECLARED
TO BE A LEGAL TENDER. HAS THE
L SAME VALUE WITHOUT REFERENCE TO
THE MATERIAL OF WHICH IT IS COM
POSED"
Value in money may be enhanced
destroyed by law, as money is SOLE
" the creation of law. The men who
invest in government securities think
that law imparts value by exemptine
them from taxation; and the mer
who were fortunate enough to have
their possession of tho fret treas
ury notes issued and made q full lega
tender, believed when they command
ed the same premium as gold, that law
had impaired to them the value that
3 gave to them the premium. To in
crease the uses to which an article
4 may be put, increases its value; tc
annihilate these uses, or any of them,
tends to destroy its value. Thus the
law which makes fifty cents worth Of
y silver bullion into legal tender dol
lar increasing it's use in the payments
of debt and taxes has added to it,
Il value the difference cetween the price
of the bullion and the face value of
s the coin.
The trouble with the Citizen and
4 papers of its class, is, that they as
4 sumo that under free coinage the gov
I eminent is to pay a dollar for SO cents
p worth of silver. Under free coinage,
n the government buys neither gold or
silver; it coins them just as stipulated
I in the constitution, and delivers to
the owner of the bullion the coins
made from it, the alloy added being
ample compensation for the coinage
These coins go into the channels Of
trade and business, they pay for la
8bor and materials, they pay debts,
land besides this the more silver there
is in use. the less demand there will
be for gold, yet the more gold will be
lin use.
Gold bullion-is as good as gold coin
IbeeesusH the law makes it SO, and that
" is the free coinage and legal ten
Ter of gold. When free coinage and
Fgal tender was given to silver, the
anne was true of silver bullion; it was
worth the same price coined or un-
coined, because there was universal
anse which creates an unlimited de-
smand. The same law that makes
gold money could make silver money,
ssand the same law that gives unlimit-
led coinage to silver could give un.
limited coinage to gold. The increase
1Epf the use of silver as money would
lScorrespondingly decrease the pur-
tschasing power of gold MS money, and
would bring relief to debtors and to
The industries of the people without
Injury to creditors.
2jf
If Cleveland has right to issue 30
jlgear bonds, he has right to issue TO-
Pear bonds. The law of 1875 provides
siior both kinds. But he is issuing 80
.3yoor &l,o noox1o -,