The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1899-01-17
ABourFREz COINAGE OF SILVER

Correspondence Of the Progressive Farmer.
In The PROGRESSIVE FARMER of Jan
uary 8, 1899, Bro. George e. Boggs
says in reply to some very sensible
views of Bro. Archer: 1T seems to me
very doubtful whether it" Gree coin
age) would increase the circulation
any. In fact, it" Chat is, the putting
more money in circulRtion) might
greatly decrease it! And If go, cause
great HARM" This is a strange declar
alton to come from one who processes
to advocate financial reform, or an
an increase in the money circulation.
1t ia, in other words, a declaration that
If the government were to coin a few
hundred millions dollars in silver an
nually and pay it out for services rem
dered, that the increase in the money
volume, would make money scarcerI
He says with Grover Cleveland and
others that this free coinage" might
drive gold out of the country. Does
he not know that gold always flowed
D6CEB W GnAS COuEg1E "nCn9 AO CO4A40k0
o. silver was Cnlimlted9 Did not gold
begin to leave us as soon as the mint
bill passed in 1873, and begin to return
as soon as silver was partly restored
in 1879 Does he not know that gold
has at all times flowed back to seek
investment the moment the prospects
for a rapid coinage of silver was in
prospects, All our history proves this
TO be true. It is only when silver is
plentiful that gold comes from it's hid.
ing place, and the history Of the United
States furnishes all the instances nee
eesary to prove that gold hides when
silver is scarce. Oh how afraid he is
of the money power: If you threaten
the unrestricted coinage of silver, the
money power will tighten their purse
strings and bring on another '93 money
panic. But if you will advocate with
me the issuance of the irredeemable
green back, then the money power
will not interfere" Is not that whole
some arguments Would not the mon
ey power resist an in1ation Of the
treasury notes as quickly as they
would an iDfation Of silver9 II not,
why, pray tell us9 If the unlimited
coinage of silver would prove of no
further benefit to the country than an
increase in the circulating medium,
then there might be some reason for
not making it one of the leading issues.
But those goldbug Populists who howl
80 vociferously against unlimited coin
age of silver fail to see the vast ad
vantages to be derived from il; in its
effects on all single gold standard
countries. They do not care to see
that China and Japan, both free silver
countries, r starving the American
people and reviving ali her industries
with a metal that u government
will allow US to use except in limited
quantity. These countries buy our
silver at about IS cents per fine ounce,
export and coin it in their countries
where it instantly becomes worth to
them 81 80 per ounce. They manufac
ture' many articles just such as are
made in America, and after paying all
duties required on them are able to
undersell our native products 80 per
cent, so tina they force down the price
of nearly all u raw material with the
silver from our own mines, Until the
wheat famine two years ago, over a
silver was about the price of a bushel
of wheat in Indiana. Wheat, cotton
and corn have generally followed the
price of Silver. 1t is to the interest of
all creditor nations and individuals to
adhere to the dearest money. It is
conceded by the ablest writer's in Eng
land that the moment the United
States comes to a silver basis England's