Page:Coin's Financial School.djvu/156

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138
COIN'S FINANCIAL SCHOOL.

its doing so does not disturb the practical effect of bimetallic prices.

"There should be a law making it a forfeiture of the debt to discriminate in favor of one form of national currency as against another. Our national currency should be as sacred as our national flag. The present law allowing gold to be named in the bond is statutory treason. The government would stand ready to redeem its paper and token money in primary money on demand, and should not allow any discrimination that would forestall its action or corrupt its financial system.

"With an administration in sympathy with bimetallism there would be no trouble as to the parity of the two metals. It could throw its great influence in favor of the weaker of the two metals if necessary in sustaining that parity. "

"But," said Mr. Gage, "if after a fair trial gold continued at a premium, what remedy would you suggest?

"Put less gold in the gold dollar," replied Coin. "Bring the weight of the gold dollar down till they are on a parity." [Applause.]

Mr. Gage took his seat, but when Coin was about to resume he again interrupted the little speaker.

"Suppose " said Mr. Gage, "the free coinage of silver by the United States should flood us with silver? What would we do with it?"

"Put it in the pockets of the people " replied Coin. "Put it to work; put it in the channels of trade. If we desired to store it, we could put it all in your bank. [Applause.]

"But it would drive out our gold?" asserted Mr. Gage.

"Our gold is leaving us now," replied Coin. "Could it leave us any faster? It is now going at