The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1898-03-19
ONE, RESULT OF FREE COINAGE.
The sixteen to One Policy Would
bankrupt the Nation.

bankrupt the Nation.
Ever since the national government
was established individuals who have
suffered property losses by reason of
the acts of its agents have been apply
ing TO congress for relief. Their claims
have been pressed by congressman and
by lobbyists. An enormous amount OF
money has been paid out in n hundred
years on account of private claims, n
large percentage of which, il may be
stated, were exaggerated or fraudu-
lent.
So successful have these claimants
been that every man who can make
out n shadow of case against the gen
eral government makes application for
relief. confident that If he keeps at
IT long enough he will be sure to OBJ
tain redress. He expects his repre-
sentative to take up his case and work
for him. II that representative seems
TO take no interest in the matter, then
the claimant and all his relatives and
friends began on him.
Suppose congress were 10 change and
debase the money standard in the man
ner demanded by the Chicago platform,
thus enabling those who owe gold
value money TO force on their creditors
dollars whose actual value, rs measured
by the old standard, would be less than
half face value, then millions of men
and women would be damaged direct
! ~ to the amount of billions OF dol
! lars.
The indirect damage need not be con-
sidered, enormous though they would
be. But there would be direct pc
cuniary loss falling on depositors in
savings and commercial banks, on per-
sons who had sold real or personal prop
crty on time or who had loaned money
in any way, and on all benefciaries OF
life insurance policies. Each of these
would be deprived by the act Of the
government of portion of his prop
erty.
The first act of these sufferers would
be 10 apply TO congress for relief.
Among these applicants would be many
men who voted for the congressman
who changed the money standard and
thus deprived so many citizens OF their
property. They would be sorry for
what they had done when they felt
the effects of the policy they had ig-
norantly Endorsed.
There would be so many OF these
claims that il would be impossible to
introduce & separate bill in each case.
II would be necessary TO lump the
cases. There would be bills ito in
demnify bank dcpositors for losses sus-
tanned by reason Of the change Of none
tary standard" to indemnify mortgage
holders, and bondholders, and life in
suranee policy holders.
The persons in whose behalf these diff
ferent bills were introduced would not
ask for a restoration Of the gold stand
ard. They would simply ask congress
10 appropriate enough cheap money 10
pay them for the property they had
been deprived Of by the change of stand
ards.
A single claimant sometimes nearly
drives a congressman wild. IL is easy
to imagine what the state of mind OF
representatives and senators would he
when each OF them had several thou-
sand men at his heels begging for tho
passage of relief bills and threatening
vengeance at the polls il the matter
was not attended 20 quickly.
What would the free silver democrats
in congress do? What would free silver
democrats outside OF congress advise
them TO do? Many OF those congress-
men would feel that il was hardly safe
/ for them 10 return TO their districts n
\ indemnity measures were not adopted.
But to settle all these claims would
call for appropriations amounting 20
many billions. If the losses footed up
Ss,O0o,O00, 900 in gold value money, then
il would be necessary TO appropriate
! $4,000, 100000 in cheap silver dollars TO
cover the losses. That sum would have
TO be obtained by the sale Of cheap sill.
yer "relief" bonds, and the taxes would
have 90 be increased considerably 10
raise the money with which 70 pay the
interest on them.
So If the free silver democrats were
20 come into power and carry out their
sixteen TO one" policy their represent
tatives in congress- would straightway
find themselves in pretty pickle. They
would be besiegcd by legions Of men
claiming compensation from the gov
eminent for damages inflicted by H..
On the other hand, the magnitude of
those damages. which could be made
good only by selling vast quantities of
bonds "in time of peace" and taxing the
entire community heavily TO pay the in
terest on them, would appall congress-
men. Those senator's and representa-
lives who voted for free silver with a
light heart" would feel differently after
the damage claims were pressed on
them.-Chicago Tribune.
r1Thc Dngley tariff law during Feb