People's Pilot, Volume 3, Number 15, Rensselaer, Jasper County, 29 September 1893 — SILVER AND GOLD. [ARTICLE]

SILVER AND GOLD.

The War to Establish a Parity Between the Two Metals Is Free and Unlimited Coinage. During the debate in the house on the silver question Mr. Coffreen, of Wyoming, said: “While the parity between metals as a commodity is subject to fluctuations varying according to their abundance or scarcity or by repressive or encouraging legislation, the money parity fixed by law is unchangeable. “If, however, it is desired to secure a parity between the metals as money which may also be maintained as commodities, there is only one way possible to do it, and that is by free and unlimited coinage at the mints< This will do it for the reason that there is a universal demand for money in a great nation like ours, and with this almost boundless demand the commodity value of silver must and will rise at once to its coinage value fixed by law, whether it be a ratio of 16 to 1, as in this country, or 15J< to 1, as in Europe. “The increase demand and use of silver when free coinage obtains will absorb the entire product of our mines and at once bring the bullion value of silver up to its stamped coinage value less the trivial cost of transportation. Limitations and restrictions of silver coinage, demonetization or partial demonetization, have been the evil agencies which have broken the parity betweene gold and silver as bullion or articles of commerce. But the parity betweene gold dollars and silver dollars in legal tender coins is not broken and cannot be broken, for every legal tender dollar is worth 100 cents, whether it be gold or silver. So it has been and always will be as long as our government endures. There is no such thing as a 65-cent legal "lender silver dollar. You cannot buy them for 65 cents nor 75 cents nor 95 cents, nor for any price less than 100 cents. Is it not a fact that to-day in New York city, the money center of the nation, silver dollars command a premium over gold? Devious and dangerous is the path of the monometallist to- day. “By depriving\ silver of its money function the value of gold as money will be immensely appreciated. Repressive legislation against silver has already added to the purchasing power of gold from 25 to 40 per cent y “It is estimated that the Rothschilds I and the Bank of England, as principals and ageuls, hold over 130,000,000,000 in

bonds, stocks and various forms of indebtedness against the people of thn United States. The rise of 25 per cent, then means a sure and unfailing demand against us of $5,000,000,000 more of our property than justly belongs to those creditors. There is no language to properly stamp such rank injustice. It is confiscation and robbery of the most high-handed character, perpetrated under the forms of law. “I shall plead with my people in and out of congress to fight by every honorable means the despotic and arbitrary aggresions of the European oligarchy. “The demands of this class now reinforced by American bankers and moneylenders, if carried into effect, would complete the full destruction of silver as money and double the purchasing power of gold. If the oppressed peoples of the world shall ever behold the consummation of such a far-reaching and measureless iniquity in this, the greatest parliament of man, no one can fortell the terrible results which will follow. Despair will settle down upon those who struggle for freedom and prosperity and the money changers will be assured that free government will perish from the face of the earth, being usurped by tbe greatest modern tyrant and conqueror—gold. We do not believe such a calamity possible. ”