The Philipsburg mail., 1896-07-30
WILL BENEFIT MANKIND
OIen the Mints to Free and Unlimited
Coinage.
DOUBLE THE AMOUNT OF MONEY
Every Avenue of Business Will Boom
and Prosperity Will Be Abroad
in the Land.

A correspondent, whose letter has
been misplaced, asks the National Bi.
metallist to explain how the silver
would get into circulation if it were
coined without limitation. The I'M
derlaying thought with those who ask
this question seems to be that mas
much as there is large amount of
money lying idle now there is no oc-
casion to provide for any more. The
idea carried to its logical conclusion
would also require the mints to close
to gold, for it is well known fact that
but very small portion of the gold
now in the country is in actual circu
lation. Hence, we might inquire,
'Why coin any more?' Nevertheless,
a proposition to stop coming it would
bring storm of protest at once.
The fact is that whether a country
has much money or little there is al
ways some to Of it lying idle. In
India and China, where money in
actual use is very scarce, there are
vast sums boarded away. And strange
as it may appear at first glance, it is
nevertheless true, that where the supply
of money is insufficient to keep pace
with the wants of trade the amount
unemployed will be larger in proper
tion than where the supply is ample.
A very little intelligent thought
will disclose the reason. When the
money supply is diminishing, either
actually OF RELATIVELY, it means lower
prices for products Lower prices means
mailer profits. no profits at all, Or
actual loss. Hence people having
enterprises They will buy gilt edge
securities, employ it in purely specula-
tive ventures in stock exchanges and
boards of trade, or if conditions be-
come too bad they will lock it up for
safe keeping.
These are the conditions which
now exist in the United States. For
many years, ever since the demonetiza
tion of silver in 1878, business has been
done on falling market and more and
more money has been withdrawn from
actual employment. Now for the effect
OF free coinage upon the circulation.
The first erect OF opening the Ameri-
can mint would be to raise the gold
price of silver to $1.29 per ounce.
Leaving out of consideration the ques-
tion of whether parity would be main
tanned it is perfectly plain that in the
first instance silver woull go up to the
mint rate in gold for the simple reason
that no man IN his sale mind would
take any less for it,
The secondary, almost coincident
effect, would be to raise the price of
all those products such as wheat, cotton
and petroleum that are sold in the
EurOpeon market at silver prices
This means a corresponding rise in the
American market, to be closely fol-
lowed, as is always the case, by a
sympathetic rise in the prices Of other
things of a similar character and occu-
pying a common field. AS for example,
a general rise of wheat would undoubt-
edly be accompanied by rise Of corn,
rye, barley, buckwheat, etc, So the
price of cotton has its effect upon the
price of wool. If the price OF cotton
goods takes a sharp and long continued
decline it is inevitable that woolen
goods will follow more or less closely,
because cotton goods and woolen goods
LII q 1ACUou1O Sob1pCtC NAt1l CtkSA otACl.
So do a great many other things, and
subject, of course, to exceptional in
huence, there is general tendency of
all prices to rise and fall together. So
the mere rise in the market price of
silver bullion consequent upon the
opening of the American mint would
give general upward movement to
prices and especially to the prices of
our great agricultural staples. This
would necessarily bring out for invest
ment large sums Of money now lying
idle, for investors always seek a rising
market. Again, the silver deposited at
the mints would be struck into coin
and the coin handed to the owner,
who in turn would pay it out to others
with whom he has business.
Thus it would find it's way into gen.
eral circulation, swell the volume Of
money, stimulating prices and bust
ness at the same time. There is never
any trouble about getting money into
circulation when business conditions
are healthful, and an abundant supply
of good money is always productive of
healthful conditions. One thing should
be entirely clear. If silver cannot be
coined it is utterly impossible for it to
get into circulation. Ii it can be coined
there is certainly chance for it to
find it's way into the channels of trade.
Let us give it that chance. II it do not
circulate it will at least do no harm,
while if it do circulate it will be pro.
dnctive Of great good. .
1t is strange what prominent place
the negative has in the goldite's dis
cussion of the money question. Gold
meets almost every argument in favor
of the coinage OF silver either by "a
TRADE of abuse or by a conjugation of
the verb "can't'-
First person can't.
Second person you can't.
Third person he, she or it can't.
Plural
First person we can't.
Second person you can't.
Third person they can't
Suppose we lay aside 'can'ts'' for
while and substitute few "trys''