To the Editor of the Much has been written and many advanced as to the probable result lof the Free Coinage Bill becoming law in the United States. In fronting this question, however, one must not lose sight OF the fact that it ix entirely practical throughout, and that no abstruse or abstract reasoning can be successfully applied tu the solution of the problem; it would be vain {to frame any imaginary consequences or sters, which, by the nate of the do not exist. the awfulness of the ject simply springs from the enor mous area of its application and effect, otherwise it would be one of the easiest problems in commerce. Stripping the subject of its theoretical web, the question naturally arises: In the event of Free Coinage in America becoming law, [what would be the consequences in the States and in all the other warkers of the world?
1.—The immediate effect ff that law ye ty raise the value of silver to the legal rate, say 15.99 or 16, which would then becrime the permanent regulator of the price of silver.
2.—Public confidence, the soul of commerce, would be restored, because silver vuld' no longer be subject to the depre-clating influences of the market.
3.—Contracts and obligations entered. {into previous to the passing of the act would of course all be in gold, and there-[fore no losses could possibly occur under [that head, as gold would remain invariable, Ie is puerile to imagine that a change lin the value of silver would in any way affect the validity of the then ex: tracts. If the payee demanded g him be paid in gold. But why so parsi ently demand gold when silver would serve the same purpose? Gold was stipulated for because it was the standard of value at. the time; whereas silver was merely an
Text read from the printed page and cleaned; old type leaves the occasional error.