Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-10-26
SEC y GAGE ON silver.
Head Of the Treasury Department
Discusses the Money Question
at Brooklyn.
Points Out the Danger Of Radical
Changes in the Monetary
system.
What Would Happen if Free Coin.
age We're Adopted in This
Country.

Country.
New York, Oct 26.-The Academy of
Music in Brooklyn was crowded to the
doors last night BY people who came to-
hear Secretary Lyman j. Gage on the
Issues The meeting Vas held
under the auspices of the Brooklyn
Young MEMS Republican Club and was
presided over by Frank Harvey Field,
president of the club. The other speak
ers besiGe Secretary Gage We're Seth
Low. president OF the Columbia College,
and Rev Dr. NJ w. Striker, Of Ham
leon College Secretary Gage 8 recep-
ton was Most hearty. He said in part:
Let us nov examine the free silver
proposition ltis simply this: Open the.
nlints TO severybody. Permit the owners
Of silver to bring in S71t4 grains of sil-s
Yer. Stamp ii one dollar and give it
back 10 them. Glothe that dollar With
legal tender quality, so that IT may be
lawfully used tops,s debts. That is all.
1t is simple enou gh. isn't III Bu. we
know that one dollar of our present
kind of moneN--ths money in which you
are paid your salaries and your wal es'7-
is worth not 33ll4 grains%hut more than.
500 grains Mould Won not rather have
the equivalent of 500 grains for your pay
than the equivalent of 371A grains?
And yet. il you consent to- the free
SILVER program. il Bryan and his demo-
rratic-popuiis, -silveristic supporters
cone into power. that program will he
adopted and you inevitably get Your
pay in tlle8neW dollars containing S.lh
grains Of fine silver. Before yot, Vote
for this sort Of business be Wise enough
ito get a stipulation from sNpu,, employers
that YOU shall then be paid, as you are
NOW paid in something equivalent 10
500 grains of silver. If You do not So
YOU will get the equivalent of only .3111a
grains for every dollar paid You. Can
YOU afford ii 2
But they will tell YOU that these new
dollars containing 837ii4 grains, will be
las valuable then as 500 grains are nov.
They Mil tell you that a dollar ia a doi-
lar. and that free coinage viii bring the
value of the bullion up to ito coinage
value. So thai then 3.lA grains VIII be
Worth dollar. That 10 true in one
fact Three hundred and seventy
and ane-feurth grains in silver bullion
viii be indeed worth one of the new sill
Yer dollars. because with that number
Of grains. you can get one of the rev
dollars, and ore Of the new dollars NIL
be worth 31l14 grains OF silver. because
Hshere areius, SttlA grains in it: but the
quest on--the question in which You are
Interest eds, this: What Will be the
VALUE Of that dollar when paid to me il,
wages. compared with the dollar in
(which IaillsnoN paid? You know the
VALUE Of Your present dollars Are YOU
prepared TO guarantee to yourselves, and
10 Your families that these new proposed
dollars Will be Of eaaal OF even of APP
preNirnate yalua2 No gentlemen, you
IAN not afford 10 10 So Take the rick
OF sus;i1 ali empty cllance;.f you Win but
4 * hen the faur of Your grief and disa y
$polntnent shall come, a sscof9e ii surely
Il Nil, then blame yourselves hut abaaive
therepubliean party from any responsi-
utility for the adversities YOU viii suffer,
Assume that the free coinage Law
4 world be q perative in NO years. Know
tiss this the bankers. having. say $780,
ogO IN deposits could buy at the present
4 fnarket price. gay, enc million Mexican
3e'oiiars, or an amount of silver equa
thereto#in bullion, each one little
4 heavier and a little finer than the pro.
posed silver dollars. The mint being
opened, he could take MS one million
Il .d9xiean 70 the mint and receive in re!
a5tiir'I enc million and fourteen Thousand
& Of the new American dollars With tllest
4 in hand, and they being legal tender. h.
could pay off his deposits With 5000 o
Il the coins and !lee j. oil 900 0f them as Nh,
4 reward of his sllrewd ness His, rea
q profit would not be S5i4.10o. They Woul,
). pc cheap collars. and compared Will
4 gold dollars would possess but ha!
their purchasing power. 50 We ,nust Gi
4 vide the s5l4oO0 by TWO. which give
flin' a ret gold gain VI 1857 900 on tn
transaction. You Mil ask. then; VIII,
= With such POSSIBILITIES before them III
I'll bankers oppose the measure viii fell
and tell you truly. II is because the
faresee. as every one who underst and
the matter must faresee that with III
"a aa9ptie,lS of he measure gold would dis
q f1pearsinto private hoarGs. the reserve
& Of the banks now largely in gold, woui
II be drawn out they would be forced +
c6ntract their loans; a general and #ex
e using liquidation would take place
merchants and manufacturers xoul
lftil. and in the general wreck and rui
he banker would not escape But do nd
shattsr yourselves that you would. tie ey
.35empt from the general disaster. shop
tand factories would be closed: a shar
: tnalt would be called on all enterprises
: .abor would go into idleness: wage
would be reduced, and general niaer
REALIZED. There would be "A res,lrrectio,
81 no doubt Our country is too great i,
resources too manifold. to long renal
|. I'm bankruptcy. With the old wreck
cleared away, We would begin aeair
The new silver money woula be II
money standard and the common nae
, dunn of exchange. and after inconcei,
able disaster we would have the ci,rnn
condition of fuctuating currency no
en5oyed in our neighboring republi
Mexico.
Mexico has her mints open to fl
free coinage Of both gold and silver ;
the ratio Of 1871 to & but all. of her gol
goes abroad. She is ilopelessly on II
silver standard, and her dollars. hea,
: Ter in weight and finer in quality tina
ours, have a value always rising or fal
4 ling aR the nrica of oliver L,,I;;.,. 4: !.