The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1896-06-24
What Free Coinage Means.

The free and unlimited coinage of
silver means that neither the president
nor his secretary of the treasury would
be allowed any longer to boycott the
four hundred and twenty. eight mil
lions of standard silver dollars now in
existence.
The power that could re establish
silver coinage would compel the use OF
silver with gold in the redemption OF
greenbacks. This would do away with
the false pretense that bonds must be
sold with which to buy gold to redeem
greenbacks. Itwould remove the con-
slant menace by the gold gang that the
legal tender quality shall be taken
away from the vast amount OF silver
dollars now in existence. 1t would
add enough to the money in circula-
ton in the country each year to keep
pace with the increase of population
and the requirements for domestic ex-
changes. 1t would make all the sill
yer bullion in the world worth just as
much as though it were already coin
ed into dollars.
It would stop greenbacks from being
presented at the treasury, because Hell
delbach, Ickelheimer & Co., and the
rest of the breed of gold spectators
would be offered silver when they de-
manded gold, and they would not
want it.
Free coinage would guarantee the
stability of the currency. The grind
ing contraction now going on would
cease. The borrowed surplus in the
treasury of nearly 5000, 900, 900 would
be expended in grand public improve.
ments, including coast defences, and
thus be restored to circulation among
the people. 1t would gradually raise
the general level of prices. The pro-
duction of wheat and other farm pro-
ducts would be resumed on the form
er scale. Manufacturers Of every de-
scription would no longer engage in
mere hand-to-mouth production, but
would manufacture for the require
ments of the coming year. This would
give work to those now in distress,
and would enable lsboring people
themselves to buy what they are now
doing without under the harsh COM
pulsion of poverty.
The commerce between for.y-6ve
States would be resumed; railroads
would be taken out of the hands of
receivers, because they could again
earn interest on their debts and eX-
penses and. something more. The oc-
cupation of the panic maker would be
gone.
With free coinage would come a
president and secretary of the treasury
who would not spend half their time
bawling to the world that their gov
ernment is bankrupt and compelled to
sell its bonds at 30 per cent. discount
from the interest rates of the world to
enrich favored syndicates for some
unfathomable reason. Free coinage
would stop the borrowing of money
in times of peace for the purpose OF
obtaining gold with which to pay OBJ,
legations not payable in gold.
Free coinage would mean back seat
for syndicates and their official in
strument-a back seat for the bears of
the New York stock market, and for
the pawnbrokers throughout the coun-
try. 1t would mean that money would
be more profitable when invested in
business enterprises than when laid
away in a napkin to breed upon itself.
1t would mean fair play among men,
and only 100 cents on the dollar in
the payment of debts.
And free coinage is coming unless
bribery and corruption are stronger in
the land than the honest expression OF
the peoples will.-Cincinnati Enquir'