FREE COINAGE OF SILVER. 501 



It will, perhaps, give the reader a more comprehensive 

 view of the silver question than we could convey in any 

 other way: 



"Senator, I think the people would be very much 

 interested if they could see in cold type your views as to 

 the cause of the * hard times, ' and I w r ould be gratified if 

 you will allow me to take them in short-hand and publish 

 them. Have you any objection?" 



"None in the world," was the courteous reply. 



"Well, then," began the reporter, "what is the cause 

 of so much dissatisfaction among the workingmen of the 

 country ? Why so many strikes and so much complaint in 

 business circles?" 



"Contraction of the circulating medium," promptly 

 replied the Senator. 



"What has produced the contraction?" 



"The demonetization of silver." 



"W T hat do you mean by the demonetization of sil- 

 ver?" 



" Both silver and gold were treated as money metals 

 by all civilized countries for about 3,000 years, previous to 

 the year 1875. During all that period either one of these 

 metals could be taken to some government establishment, 

 such as an assay office or a mint, and exchanged for 

 money at a fixed value. For example: Up to that time 

 in the United States 25 8-10 grains of gold, 9-10 fine, 

 could be exchanged at the mint for a dollar. So also, 

 could 415^2 grains of silver, 9-10 fine, be exchanged for a 

 dollar. Between 1871 and 1875, by governmental action, 

 each civilized country of Europe and America, refused to 

 receive silver in exchange for money at any fixed price. 

 This action reduced silver to a commodity and demone- 

 tized it." 



"To put the business interest of the country in good 



