Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1898-09-29
a Few Questions To Goldites.

The fundamental objection to free coin
age IN this country has been and is that
it is dishonest" The "market price"
of silver is less than 60 cents an ounce,
and the coinage rate at l6 to is $l.29.
1t is claimed that the dishonesty OF
coming 60 cents worth of silver into twice
as m ,ch money, is too clear TO require
any argument.
The same contention has been made
right along whether silver was worth go,
20, 80, 90 or 100 cents per ounce.
1t has always been dishonest, according
to go!dstandard reasoning, to coin it at
any higher rate than the market price.
This, OF course, excludes the coinage use
OF the metal as an element in its value,
and assumes that silver will be worth no
more with the American mint open, thus
creating an enormous demand for it, than
it is now with the mint closed and the
silver deprived of that demand. Laying
aside this palpable absurdity, there are a
few simple questions we would like to
PROFOUND.
First, If TO |, wcr the value oi money be-
low the gold level, or to coin silver at a
rate above its market vaiue in GOLD, is
dishonest in America, is it not equally
dishonest everywhere? What then has
the goldite 30 say OF the action OF Jap?n
in reducing the -ht OF the gold yen
onehali and establishing the gold stand
in this country "50.cent" silver dollar?
Have We heard aAv cutlery from That
source about the dishonesty" OF Japan?
Russia has acted in Il simila. way. She
has redGccd 'le weight # her gold coins
so that HE quantity q gold which for
merly made 10 iouhles' viii now lnnke
Is. Have ;hc gold men i,duged in any
denunciation OF ;hc ''Ci+honcs' " Of sucii
action on the part ii Russia?
Both Russia and Jap~n refused to re
ognize gold a. true measure Of value.
The one cut down the gold coin so rs to
bring it to the level Of the paper currency
OF the country, the other reduced it to the
level Of silver. Is it not quite AS dishon-
est to reduce the weight of gold coins
and at the same time compel the creditor
to take them at their former value, as it
is to coin Il cheaper metal?
But again: The signs now all point to
the reopcning Of the Indian mint at the
ratio OF % to l. At all events it is being
advocated by many OF the leading gold
authorities of England. The ratio of %
to l gives silver IL value Of about SO cents
an ounce in gold.
The market price is less than 60-about
50. What have the gold men, the con-
SENATORS Of orr national conscience to say
about the "honesty" OF coming SO cents
40 tn of silver into SO cents in money?
As we have said before, dishonesty"
is not question Of percentage. If it is
dishonest to coin 50 cent silver at the rate
of 1929, it is equally dishonest to coin it
at SO. In TACT, the gold men were just as
certain that it was dishonest to com sill
! yer nee when it was worth so as they are
now. The difference between 80 and
! | - il less in proportion than the differ
"ucc between 50 ana 80. We ale anxious
~ Waiting ion an outburst Of righteous
indignation.
r,r+ it not trejn to dawn upon the
gold philosopher i:.af there i something
in ,hi~ money question tha. in has ove :
! louNed p national imetallst.