The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1899-08-08
CORRESPONDENCE.
The Editors are not responsible for the views
I Correspondents.
OPPOSES FREE COINAGE BUT
SUGGG5TS A SUBSTITUTE.
Henry Stewart, the Famous Agricultural
Writer, Discusses the Subject.

Henry Stewart, the Famous Agricultural
Writer, Discusses the Subject.
correspondence Of the Progressive Farmer.
While I highly estimate the general
tone Of your paper, I am obliged to
say that I do not approve Of its advo-
a Of free coinage Of silver, and this
for this simple reason, which / take
the liberty to explain.
The actual value Of silver is much
less than gold, and while the stamp Of
the q. 8. Government on a silver dol
lar would Immediately raise the value
Of this metal under q system OF free
coinage to a par with a gold dollar, it
would be at the expense of the people,
and for the sole benefit Of the owners
of the silver miners. This all goes
without saying, for if any person may
take the weight Of silver, which can be
bought for a little over half the value
Of a dollar, to the U. 8. mints and get
twice the value or nearly so, in money,
it would inure to the benefit Of this in.
dividual at the cost of the people.
have made this suggestion to meet
this case, but while it does this on the
part Of the people, it is not satisfactory
to owners of the silver mines. many Of
whom are getting their silver for
twelve cents an ounce. Now there is
a standard worlds price for silver
that is if one of US we're to take a hun
dred pounds of it tt any other country
in the world he would get for it only the
market price or less than sky cents
on the dollar.
Now this is my proposition: let there
be free coinage Of silver, but let there
be a tax levied on the owners Of the
silver mines of the difference between
the price at which the silver could be
bought in the markets Of the world,
and the coined value Of it. Then the
silver dollar will at once be worth its
world value (buS only in the minis
remember) and one dollar will at once
be worth as much as another in the
United States, and the difference in
the actual value will inure to the bene
fE of the people instead Of being a free
gift to persons who got their mines for
nothing from the people as a gift. Here
is an instance: Once I was engaged IN
making iron and employed skilled
miners and furnace men. One OF THESE
men was q most excellent workman
and saved money from his wages. In
time he went to Colorado and became
q foreman in one of the mines. He was
so fortunate Rs to strike Cripple Creek,
in Colorado, and as we'll struck one Of
the richest silver mines in that locality.
He is now worth twenty million dol
lars. This enormous wealth has been
made by selling silver at the market
price, but with free coinage Of his sill
yer, which I have reason to know costs
him no more than twelve cents an
ounce when reined aud ready for coin
age, his wealth will be increased twice
over. This is a simple typical case,
and applies to every silver miner ia
the United States.
Now the proposed tax on this mans
product would oe no injustice to him;
but would be simple justice to the PEG.
pie of the United States. He would
60 on adding to his millions made from
a number Of mines, which he owns, by
selling his metal at the worlds price.
We should have the convenience of
the use Of the silver, if we wished to
carry it about for our business in a
Valise, on our backs, or in a wheel bar
row because pockets would scarce
~ hold the weight of it; but some per
sons who are so anxious to add to the
wealth OF the silver miners might
really go this trouble from consistency,
which we are told is a jewel. But l
doubt. None of US is hankering to do
this; for as soon as We get a few of
these silver dollars we get rid of them
as fast as we can. And none of US is
afraid Of Uncle Sans notes, which we
all say are ''as good as gold" but never
las good as silver
I would like to say a word in regard
to the borrowing Of money on bonds,
instead Of Issuing greenbacks, but l
could give as good reasons for it as for
disadvocating free silver, and may if
you would desire it.
HENRY STEWART.
Macon county, N. Q.