West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1886-01-08
The Silver Question.

A correspondent asks for a concise
statement of the Silver Question and
the nature of the workingman's in.
terest in it
The main issue as to the relative
or combined merits OF silver and
gold as media of exchange is not the
question Immediately before the PEG.
pie 1t is whether the Compulsory
Coinage law shall be continued I'M
der the present circumstances, or sus-
pended until a permanent definite
policy with respect to our standard
of value is duly considered and de.
cided upon. Practically we have a
gold standard; legally we have a
double one Of gold and silver. The
law makes q dollar of ABA grains OF
silver nine.tenths fine equal, in a
debt-paying capacity, to n gold dol
lar of % 8-l0th grains n~ine-tenths
fine, although the gold dollar will
purchase more than SIS grains of sill.
yer bullion Of standard fneness.
There is r discrepancy OF more than
20 per cent, here, and in this differ
n hes the bone of contention.
The supporters of the gold stand.
ard claim that there can be but
one standard; that in obedience to
Gresham's law the cheaper metal will
slwaysdrive out the dearer and hat the
continued coinage Cf silver will even
tually drive out the gold and reduce
u standard 20 per cent, or more in
value, thereby affecting debts and
credits accordingly. They claim that
to permit this to take place will be
unwise in an economic sense, and
immoral in that it partakes of repu.
diation that it will separate the
basis of our financial system from
that of the other civilized CONNER
cial nations of the world. President
Cleveland, in his Message, shows
that his sympathies r very strong.
ly enlisted on this side of the ques.
ton.
The supporters OF the continued
coinage claim that we are a silver
producing nation and interested in
finding as much use for it as posi-
BILE; that there will be nc reputation
in coming to the silver standard,
since, with the exception of about
five years, it has always been legal
tender. They fail to see that any
disaster will occur if it is allowed to
prevail, and regard its opponents as
in some way influenced in favor Of
the rich as against the poor-the cap
i~talists of the East as against the
agricultural masses Of the West and
South.
There is a middle class who have
no particular learning either way,
but join the gold men in behalf of
suspension until a clearer intelli-
gence is reached by the people as to
what had best be done. The silver
men, or hi-mettallists OF the Ger.
nuschi schoo, who hoped TO see a
common agreement among the princi.
pal nations arrived 81, favor at least
temporary suspension as the best
means Of attaining in the end what
they desire.
AZ to the working people: 1t is
to their interest that the purchasing
power Of the few dollars they earn
should not be diminished, as certain
~ would be the case we're the 412B-
grain dollar 10 drop from it's token to
it's bullion value. Those who have
fixed wages under contract would
suffer 20 The extent Of tho deprecia
ton, which 10 now 20 Ter cent.
Those having small annuities or
definite sums left them by will, or
due them in any other way, would
also suffer. II is very decidedly 10
the workingmsn's interest TO have
his dollar a. good as possible, and
100 ce ts' worth Of gold makes A
better dollar than 50 cents worth Of
silver. II is therefore % bis interest
that the food Of silver dollars should
not be permitted to rise any higher
and further endsnger the real stand
srd.-N. y. Wo1ld.