Show currency Gate catechism chism question what constitutes the crol currency moy of this country con answer and un covered paper qin Q in what amounts axe are these carried A we have in gold in silverano silv silver erand and I 1 in uncovered paper Q chatis what is meant by uncovered paper A it is greenbacks green backs issued during the war to redeem u which no reserve was in the treasury Q then gold and silver are not the only money allowed under the constitution athe A the constitution simply gives congress Oon gress the authority to coin money it says nothing about the kind the paper money was held by the supreme court to be constitutional I 1 Q do other countries have uncovered paper currency A moat civilized countries carry a certain amount of such paper Q what is meant by a parity 0 of f our currency ait A it means that each dollar whether gold silver or paper passes at par you can take five dollars in paper and get ita face value in gold and silver or you can take five dollars in silver and get a five dollar gold piece without paying a premium Q what is meant by 16 to I 1 I 1 ac A lt it means that a silver dollar contains just sixteen times as much metal us as a gold dollar Q free coinage of silver would not mean then that sixteen silver dollars must be coined to every one gold dollar A no it means the coinage of all silver at the ratio of sixteen parts silver to one part gold as before stated Q what is meant by a 50 cent dollar I 1 A there is no 50 cent dollar today every dollar now passes at par as before stated elated the stamp of the government ern ment however gives the silver dollar twice the value of the metal it contains 1 Q I can you yon illustrate A yes take a five dollar gold and melt it and the gold nugget will be worth five dollars take five silver dollars and melt them and the bullion they contain will be worth two dollars dollan and fifty cents Q abat is the cause of the difference in price I 1 atho A tho the leading nations of the world have stopped the free coinage of silver and the increased supply of the white metal has thus decreased the prim price ar Q what nations today have opened their mints to free coinage of diver A mexico the central american states the south american republics india and china Q Is their money worth as much as ours A no their silver coins can only bring the value of the bullion they contain and gold does not circulate because it is ia fifty per cent dearer than silver silven Q 2 how much of the worlds coin coinage do these silver nations own A only or a little more than ono on eighth eight ti the total gold and silver money of the wohld is 8 Q lf if the states should join those countries would it raise the value of their silver to our present standard etan dard T A so the tha independent free coinage men claim Q if this country should fail in that what would woold be the result A gold would then go to a premium and donld d leave the coca try for our debts while we would be ba left with wilh a depreciated silver currency the same fame as aa mexico Q would not thi the mexican system be ba good enough to transact the business of the united states ait would were wa not a debtor nation but bat this country owes more than twelve billious billions of dollars in gold obligations that is the notes signed call for gold these debts would be doubled by a depreciated silver car rency Q Is the enquirer then for a gold standard A no sir it is for bimetallism bi coinage of gold and silver and shall oppose any system likely to bring this country to silver mon sm ut Q boes it desire freo coinage of 1 silver A it does by international agreement the only safe way of keeping our currency ea as good its as the currency of other leading civili civilized nai eions and of keeping our gold and silver ooin coin on a parity |