Sequachee Valley news. (Sequachee [Sequatchie], Tenn.) 1896-1952, 1908-10-01

grossest deception and nonsense. If a
heavy importing merchant desires to
pay debt abroad, where nothing is
money except that created by the coun-
try visited, he may properly consider
the bullion idea, especially i'll regard
to silver which has lost one-half its
old time bullion value because of un-
friendly legislation. Such man
would act very foolishly to pay his
fol eign debt with our silver dollars at
bullion price. He would 10 far better
to buy uncoined bullion at a discount
of so or so per cent. on the legal value
of our home silver dollar. 1t will be
seen therefore that the heavy import
ing merchant, with debts abroad, is
the only man Immediately interested
in the low price of silver bullion. To
all Others doing business at home, the
50-cent dollar bugbear is only scare
crow. Restore free coinage and the
bullion value will Immediately rise to
the original coinage value, wit,
81. 90 per ounce. The money demand
would thus exhaust the silver bullion
in market and leave no surplus as a
connective factor. An important
thought has been overlooked. The
law, as it stands, justifies the banker
in discriminating against real estate
as a security, regardless of the perfect
ion of title. This rules out the farmer
entirely and all others who have only
land as security to offer unless the
banker chooses to do otherwiSe) and, as
Ia rule, said money lender prefers as Sc
curity bonds and similar securities,
which on days notice may be thrown
on the market and the cash realized.
Farmers, it will be seen. are here shut
out in the cold for the benefit of Others
more fortunate than themselves.
| When will said farmer learn their in
terest and vote to destroy a system
which thus discrjminatesy When all
other argument fails, the intense ad-
mirer of a specie basis suggests the fol-
! lowing possibilities. If ship be
wrecked on remote island inhabited
by semi savages, the gold and silver
coin in possession of passengers will be
valued by said savages As ornaments,
! if for no other reason, because of its
glitter and durability, while the ma
tional picture called greenbacks, will
go for naught for lack of these quail
ties To provide for this contingency
| the reasoner is willing that the daily
and hourly business affairs Of great
nation be put to serious Inconvenience
| because of the possible loss to a ship
wrecked mariner 1t were as logical
/ to insist that we should live in caves
/ or cellars, instead of houses built
above ground, to provide against pos
sible dangers of tornado. Again, 1t
will be said that if our money is metal
and our house burns down, a remnant
| of bullion may be found in the cellar
with value attached to it, while the
! paper would be gone. With a parity
of reasoning we might insist that ev-
/ erything about Us, our furniture, our
clothing, etc, etc, should be, as far
! as possible, made Of fire proof materi
/ al, so that in the event of fire some
thing might be left. We should foregC
/ the pleasures and conveniences result
/ ing from light and beautiful material
I in the manufacture of furniture Ol
clothing. because, fOrsooth, it is com
bustible. We should consider the FIRE
proof idea only, regardless of the in
convenience involved, 50 says the cap
tious reasoner In point Of fact, con
venience, practicability aud general
utility should be first considered and
let possibilities take care of them
selves, for there Is no conceivable ar
rangement by human ingenuity thai
has not or may not have possible
danger connected Herewith. If sucl
trihing argument ought 10 hav'
weight. we will suggest one on the ma
per side. a passenger ON shipboar'
has a million dollars in paper bonds OF
his person. another has million dol
lars in gold and silver coin. The YES
sci goes down in mid-Ocean, the bon'