The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-02-07

franc pieces, but he thought they would
not do so. Another objection 10 the bill
was that il It should become law we
would be flooded with silver; that Ger.
many would pour her surplus silver on
US and our mines would produce so much
that we would have more than we knew
what to do with. He had no fears from
Germany. 1t was said she had $50, ,000, 900
to spare. Suppose that it were all
poured into the United States. We could
absorb it all without injury, but 1t would
not be poured into this country. Ger
many could not spare her silver, but II
she could the greater part Of il would be
much more likely TO 60 10 Asia and Rus.
sia, Austria and Spain, to say nothing Of
the Latin Slater, than TO come to the
United States, who under value silver as
compared with the rest Of the world. He
did not think we had anything 10 fear
from the excessive product Of our mines.
fie had not been considered an Imitation
lat but he knew Of no valid reason against
enlarging our specie basis, and II we are
10 have and maintain specie payments it
mnst be enlarged. Another objection to
the bill was the we'll known argument
against bimetallism, and the most gloomy
pictures have been drawn Of the ruin
that would beiall our country five adopt
bimetallism. lie argued that it was by
no means a certain standard OF value. II
was less variable in monometallic than
il was in bi metallic country. An abso
luteiy unvsrying standard OF value was
an impossibiIity. Had there ever been a
more prosperous country than the United
States from the year 1880 10 1861.
Did any nation ever exceed the progress
we made in population, wealth, educa.
ton, refinement and the general we'll be-
ing OF the people in these seventy.two
years? And yet during all that time We
had bi.metallism, for we gave no prefer
ence to gold over silver or TO silver over
gold. These metals tluctuated then as
they have done since, and probably ever
will do. But no American statesman OF
that period thought Of demonctizing
either.
And now let Us turn TO Europe for n
moment. What do we hearg The wall.
inps OF Thousands Of lsboring men and
women and children out of work. The
cries OF anguish OF thousands OF other
men whe but year ago we're rich, but
now are bankrupts. In u word, the same
notes Of sorrow that 10 afllict the ears Of
as in the United States. But from what
countries do they mainly come? From
gold monome,allic Eugland and gold
mouometallic Germany, while bi.me,allic
France. the land OF silver as well as gold
enioyei n prosperity hardly exceeded
by that Of any other people on earth.
II had been argued that our foreign com.
merce would be destroyed, would be dis.
ioinled by the passage Of the pending
bill. Had we not carried on business
during the past sixteen years with IN in.
controvertible paper currency? and was
not the balance Of trade in our favor
now? Again, it had been argued that the
national credit would be destroyed. How
deslroyedg By US paying our bonds as
we promised 10 pay them? The United
States needed no such prop as a single
gold standard 10 support its credit. The
resources Of this country were too well
known for her credit 10 be injured. A
telegram this morning informed US that
100000 worth OF our bonds were on their
way home from England. They would
be gettiog back there soon, whether this
bill passed or not, as the interest on our
bonds was greater than that on any safe
European stocks. II our bonds should
be sent home they would meet buyers in
the United States. And suppose they
should find such purchasers, would not
every one in the land be glad that
our bonds were held az home?
The English debt was held by English.
men, the French debt by FrenChmen, and
he hoped the day would come when the
American debt would be held by Ameri.
cans. Our currency would continue to
be small paper money, and the problem
for Congress TO solve was on what basis
Il should rest. We could not maintain
paper currency convertible at all times
into coin unless we employed silver as
we'll as gold for its base. Unless silver
should be made a full legal tender the
idea Of specie payment in the United
States would soon be abandoned. Every
opponent to an iriedeemable paper cur.
rency and every friend OF specie cur
rency should insist on the full remone.
tizatlon Of silver. II this bill shonld
become a law It's tendency would be TO
put stop to the characterization Of silver
10 other countries. Should we postpone
the reconciliation Of silver, and com.
pact with other countries be made, il
would never be remouetized. He hoped
that our country would be ranged by the
side Of the bi.metalIic States. Let the
commercial world know that we do not
intend to abandon the use Of silver. SiI.
yer was an American product. Many
millions Of dollars and the labor Of thou.
sands Of men were employed in It's pro-
duc,ion in this country, and to destroy or
cripple this industry would be cruel and
unjust.
Sir. Herman said he would be glad il
we could hold our bonds at home, but a.
compared with European countries ours
was a new country and needed capital as
cheap as possible to develope our indus