Page:Coin's Financial School.djvu/99

 Rh "Is it not unfair to give the owners of silver bullion the special privilege of having the value of their property enhanced? Is it not virtually making a present of millions of dollars to the owners of silver bullion by remonetizing silver? Is this just or right?"

"In the first place," replied "whatever you select as primary money should be treated distinctively different from all other property. It should not be left on the market to be bulled or beared. Otherwise you cannot have a stable money.

"Free coinage at a fixed quantity to constitute a dollar does take it off the market, and that is what is necessary in the treatment of a money metal. That is the way gold is now treated, and silver should be so treated.

"But your statement is not true. Silver men are not benefited by remonetization except in common with others. Silver is now worth about 60 cents an ounce as measured in the new standard—gold. It was worth $1.29 per ounce under free coinage. The owner of silver bullion can now buy as much with an ounce of silver as he ever could.

"An ounce of silver bullion would buy a bushel of wheat in 1873, and it will buy a bushel of wheat now. Two ounces of silver bullion would buy a day's labor in 1873, and two ounces will buy a day's labor now. Three ounces of silver bullion would buy a keg of nails in 1873, and two ounces will buy a keg of nails now. An ounce of silver bullion would buy 16 yards of calico in 1873, and it will buy 16 yards of calico now.