The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-02-01

Cincinnati Castle
The following are some facts bearing
on the silver question. They are gener-
ally overlooked. Indeed we say there Ii
an ignorance Of them which is queer com
mentaty on our universal governing ca
pacity. In fact, we see statements con
tinuGlly reiterated which are greatly a
variance with them. But no one will
attempt to refute them.
l. The only silver coin this country has
ever had in circulation with gold was
what Is now called demonetiEed coin
/, O., coin whose legal tender was limited
2. More than 99.1OO Of the silver coin in
circulation before the secession war was
denonetized coin. The great silver coin
Of the fathers was the half dollar, which
was demonetized in 1854.
3. This country has had the gold stand.
ard only ever since 1888, when the weight
OF gold in the coins was reduced leaving
silver coins unchanged, thus making gold
the cheaper money.
A. This country never had silver and
gold In the circulation together by the
double standard. It never hsd the two
metals save with gold the standard and
silver demonetized.
s. Equal legal tender and equal coin.
age utterly failed, In efforts continued
three,quarters Of century, to keep gold
and silver dollars Of the game value, OF
10 make them circulate together. The
frat coin success OF this country dates
from the decentralization Of silver In
1854.
6. No silver coin which ever had any
existence in our circulation was demon
e,ized by the acts OF 1873 or 1874. The
silver dollar never had any practical ex'
istehce In our circulation. The great
silver coin Of circulation was the hall
dollar, and this dates It's practical exis-
tence from Its demonstration In 1854.
z. The coinage act Of 1875, in its leay-
ing out the silver dollar from the author
lied coins, was not secret, stealthy, nor
unconsidered; II was long deliberated and
we'll debated. The thing was done fol-
good reasons, and would be done again
now for the same reasons. These were
that this coin had been q failure for .
century; IL had no real existence, and
would cost the government little more
than 1903 to make.
8. Neither that act nor the act OF 1874
dropping the extinct dollar from the
legal tender coins, made any change ID
the practical relations OF our specie, and
It still left that legal condition under
which the country had the largest volume
Of gold and silver.
o. II the country were to come to the
specie basis under the present coin laws,
the condition would be practically the
same as that which gave US; the largest
volume OF gold and silver.
10. This Is not q peculiarly silver pro.
ducing country, as against gold; for our
product OF gold ia more in value than oil
silver. So Is that OF the world.
These are facts which no one will at
tempt to reiute. And these impregnably
establiah these conclusions:
/. Equal legal tender and equal coin:
age cannot keep gold and silver coins oil
the same value, nor keep them together
in the circulation. The cheaper will
drive out the better, and leave us but one.
II the cheaper be silver, we shall lose the
best money metal, and the one the coun-
try produces the most OF.
2. The proposal to equate the value
Of the dollar Of gold aud silver by ad.
ding more silver is to attempt the impos.
sible. We can no more fix the relative
value OF the two for the future than Of
wheat and corn.
8. Theunlimited coinage and legal ten.
derof silver will not give Us specie in
the two metals, but only in one. Hsilver
remains the cheaper Il will be silver
alone, and therefore the'country will mot
have rs much specie as under the gold
standard with silver subsidiary as since
1854.
4. Ergo, the silver standard will not
make resumption, or the payment Of
debts, either public or private, easier. II
we come to specie payment with silver q
legal tender we shall have only silver.
Should the Treasury try to ignore the
difference, and buy gold to redeem with,
we should have Germany and France IN.
loading their cheap silver upon us and
carrying of our gold and making ten per
cent out Of American fools. And II It
were possible for gold and cheaper silver
dollars 10 circulate together, the working
Of il would be the gold for the banker,
capitalist aud the rich, and the cheap ell.
yer for the workman.