The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1897-10-19

Do0u buOJ1G&6O WJ PEOPOA SA1A 80 AOG
mintage there would have been no
such thing as Stree coinage" and in
lieu OF this term we would have had
UNLIMITED coinage"
France charges 80 cents for coming
500 of gold, and until her mints were
closed to silver in 1875 she charged 81 30
for coming 800 OF silver.
The term free coinage" or ''unlim-
tied coinage" I am sorry to say, does
not appear to be generally understood.
Even the editors of our reform pa
pers seem to be at sea on this vital
point. During the late campaign the
goIdbug papers universally proclaimed
that a restoration Of silver to full coin
age privileges would cause our mints
to become "a dumping ground for the
silver bnllion of the world" No greater
delusion was ever palmed off on our
people.
They were made to believe that free
coinage meant free access to our mints.
The word 'tres" pertains to coinage
only, and consequently coinage ia
Stree" or otherwise according as there
Is or is not a charge made for same.
Any person who will take the pains to
read the demonstration debates of 1879
and 70 In the United States Senate
will see that I am correct. The Senate
was divided on the question as to
whether or not there should be a charge
for coinage. After some two days de
bate it was decided that the coinage Of
fne bars should be "free," without
charge to the owner. The word free"
was thus made to pertain to coinage,
and IL still so pertains, having nothing,
whatever, to do with mint privileges,
as 1 will now proceed to show.
Under the coinage laws as they *
listed from 1892 to 1873 -abous 81 years
the owners of gold and silver bull
lion could deposit either at mints
and nave il converted into coin upon
the terms aforesaid. In this case they
received, or could receive, if they so
desired, their identical bullion back
after it had been converted into coin.
But as a matter Of convenience to
the depositors and the managers Of
the mints the bullion was virtually
purchased at its coinage value, lees the
above charges. Under this plan depCs-
itors were usually paid the following
day, when, If they had desired their
own bullion converted into coin, they
would have been required to wait an
indefinite time. But the payment was
the same in kind and amount that it
would have been had they waited to
have their own bullion converted into
coin.
Now note the fact that the law as it
existed prior to 1873 plainly made re.
turns for gold bullion payable In gold
coin and returns for silver bullion pay
able in silver coin. Consequently if
said law were restored no foreign sill
yer bullion could be deposited at our
mints, unless the owners r willing to
receive, and do receive, in exchange
thereof our silver coin at par.
Well, suppose that foreigners should
bring their silver bullion here and have
it converted into our coin upon the
terms aforesaid. These coins do not
circulate as current money in other
nations, and, consequently, before they
could be used they would have to be
remeIted and converted into the coins
If the respective nations. No foreign
allver bullion would come to our minis
under such conditions.
AS before stated. our editors did not
not appear to know that the term,
free coinage" pertained wholly to coiE-
age and had nothing whatever to do
with privileges at the mint. Conse.
quently, III people were no properly
educated. The goldbug press generally
took advantage Of our weakness at
this point and pressed for all it was
worth their uutruthful allegations that
if ''silver were restored to free and
unlimited coinage our minis would be
come a dumping ground for the silver
of the world" Under this system of
false teaching many people at the late
election voted the goldbug ticket, hon.
estly believing that it was necessary in
order to prevent a food of foreign siI
yer.
Our coinage laws as they existed
prior to 1873 should be restored with
out delay and about 10 feet of rope
provided for any and all persons who
may attempt to discredit the legslized
value of the precious metals, either be-
before or after coinage, My word for
it we would then hove no further talk
lo-,E IN 1000 SoIIo-