The Big Stone post. (Big Stone Gap, Va.) 1890-1892, 1891-01-16

actual general circulation, hut compared with the
decentralization OF eold which will follow free coin.Se
OF silver its power for evil was as drop oi wafer 10
an ocean OF disaster.
Then he speaks of an article printed
below, taken from one of the New York
journals, carrying out the same idea. That
short extract from a letter to me by a gen.
tleman in Ohio whom l know very well
gives the exact idea which business man
will form of this proposed revolution.
What good can come from the proposed
amendment? The very moment this bill
passes the unit of value will be 81 grains
of silver bullion. Who is benefited by
that? The present policy of the govern
ment of the United States is all in the
interest of the silver producers. 1t has
maintained and advanced the price of sill
yer from time to time. That policy has
been always based upon the idea that gold
is the ultimate standard of value and sill
YER has been advanced in market values
by the effect of our laws now in force in
this country, and by the desire also of
France and other nations to advance the
price of silver.
The beneficial effects of these laws are
felt all over the world, and | do believe
that if our silver friends, or those who
represent states where silver is largely
produced, will only be patient and take
time into the element of their account,
the policy of our Government, together
with the policy of France and the use OF
silver in the South American states, es-
pecially if we can bring about an inter-
national ratio with some Of the CONNER
cial nations of Europe, will lift silver up
again to the standard of gold and that
will give them gold values for their silver.
But if they now reject the gold standard
and take the silver standard alone, then
all property will be measured by the sill
yer standard, and the result will he that
silver will 90 lover and lower as measured
by its market value.
can see how great many honest peo-
pie, good people, farmers and the like,
who do not study the mysteries of finance,
think dollar is a dollar, of whatever
metal it is coined, or that dollar with a
stamp of the United States and the great
eagle upon it is dollar all the world over
without regard to its intrinsic value, but
when you adopt single standard of silver,
as you propose to do in this bill, that
dollar will be measured precisely as all
other silver is measured in the markets of
the world, precisely rs the United States
now measures all foreign coins. Our own
good people may be misled and deceived
by the expectation that they will get more
dollars for their labor products, and 80
probably they would, unless Inc natural
effect of reduced and diminished coinage
be countcractcd by this sudden contrac-
. Of oh p1.oh
defeat this beneficial result.
But what would he the purchasing power
of those dollars that they would receive
products? 1t would be the purchasing
power of 81 grains of silver as measured
by the markets Of the world, not as meas
ured by The Congress Of the United States.
So they would be deceived and misled.
The purchasing power Of this silver will
be just the purchasing power OF 81 grains
of silver in gold, and no more: and all
the laws which Congress may pass can not
change this unalterab!e rule.
Mr.. President, this debate comes upon
me. as | said, rather by surprise. ! do
not think the people Of the United States
desire to have this matter treated slightly
or as if it were an immaterial question,
coming up to US in the ordinary course of
business. 1t is thrust upon us here,
think, unduly by our friends vino repre-
sent States largely interested in silver;
but when this question is TO lie acted upon
it must be acted upon with delibcraiion;
and tell my democratic friends that il
they take the responsibility they cannot
shield themselves behind the fact thar
they are in the minority on political is
sues, because if they choose to vote with
those OH this side who do not agree with
me in opinion upon this subject theirs is
the responsibility for this great and sud
den change.