The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1879-01-08
The T-ue Democratic Doctrine
Good Money and EDlenGy of "a.
Hon. William S. Grosbeck of Obi

Hon. William S. Gro.beck of Ohio,
was one of the United States Commits
sioners 10 the International Monetary
Conference. and has given an expression
of the result of the meeting and of his
opinions on the money question which
We have copied below second hand from
our excellent cotemporary, the Mobile
News. In this statement he set forth,
as the Commissioners had done in
formal report, the success of the effort to
secure a declaration In favor of the re-
monetization Of silver and also his own
opinions upon the money question, which
amount to this, that money is the life
blood Of commerce and industry, and
that they prosper in proportion to its
soundness and quantity. The idea is
presented in nut she'll by Mr.. Groes-
/ beck:
| The result of the Conference, said Mr.
GrOeSbeck. was in the main satisfactory
/ more so thar | antjci pated. W. atoptefi "a
/ declaration which reversed that made at the
! Conference in 1867. You are aware thAt at
/ that Conference, IN wFlch America. As well
as all the other great ia ions. was repre-
| S-ntcd. i declaration was made fixing gold
| as the single standard. Now we have
reversed Ih.r and declared in favor OF the
| double standard-In favor of using both
| gold and silver"
| Il am opposed to discriminating against
one metal in favor of the other. | believe
| in good money and All abundance OF iU.
| want TO see gold and silver standard: and
See money plentiful"
Il want 10 see the doors of the miRts
thrown open to silver a we'll as gold with
out restriction. There is not TOO much
silver in the country. Let Congress fix the
vag1- OF silver, aud let its coinage he I'M
linn ted and II will no longer be merchan-
die. Col is not merchandise. its value
| does NOT nuctubte. aud / wi eXpl in why
Here are he uIiuts OF the United States, oil
| England. France, Spain, Austria and the
other nations the own open Tor the coinage
n ld To All unlimited amount. Suppus-
ing 4 man has quantity OF gold; he knows
what il is worth The law has said 80 many
grains OF gold make a dollar, and knowing
how many grains he has, he knows what il
is worth It is different with silver. A
limit is fixed To the coinage OF that. Wher
that limit is reached any further production
is thrown on the market, and its value
depends on the demand there is for it L
may be worth one sum TO-DAY and another
TO morrow. You viii observe then that il
like gold, its value was fixed by Law. ant
tree coinage was authorized, there could b.
no such fluctuation, its value would b,
fixed"
People talk of there being too much
money, and say that when money is plenti-
Iu dollar will not buy much "a it wuulC
| were money scarce, and argue from tina
that there is no necessity for more money
| argue differently. When money i, scare,
there is not much eateI PRISE in country
as when it is plentiful. When there il
plenty or il, mems ingenuity is exercised
in finding new channels 10 put it in circu
lation, business 1uri>hcs and every thing il
in better condition. | say. then, that
am in favor of an Abundance of money, bu
| want good money. There is one thing
though. that | will say. l do not believe
| America should wait for any such inter
national action. | think America shoulC
be more independent than TO wait To SCI
what this that country in Europe is 60
ing to do. | don't believe In standing her,
and looking across the Atlantic, waiting
for the nations of Europe TO adopt m onrtar,
systems and then follow suit. We are
great nation, and should take our owl
course without waiting to see what othe
nations are going 20 do.