Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-09-09

Inc national prosperity and indivId-
uai happiness Of our people which viii,
not De averted by the boast thar we noe.
sess iand OF ooundless resources i'm
uaoi'eu oy a people OF unparalleled busI-
ness enterprise and energy.
Mr. President. assuming that ths
premiseto be true that the great com.
merclal nations OF the world, includlny
the United States, are to-day commit.
ted TO single gold standard. every
honr OF study or reflection which 7 hsvs
devoted to the consideration OF this mo-
mentous question strengthens nv con-
viction that IL would be as unwise a. h,
would be impossible for the United
States. at this time, to atteupt 10 "a.
taolish free and unlimited coinage Of
silver at any ratio, and at the same
time preserve the parity between tho
two metals. Gold and silver, although
stamped with the sovereign seal OF ma
nation, are governed and controlled bv
the same principles that influence other
commodities. Ii Is as impossible nv
statutory enactment, 10 alter the avs
OF trade as applicable to either as II ia
TO prevent water seeking its level.
The truth OF this principle has baan
illustrated throughout our own mops-
tsry history. II, therefore, we estab-
lish ratio for silver greater than the
value OF the bullion as commodity.
every spare ounce OF the worlds supuIy
would, by the inevitable laws OF trade.
seek market where the price WAS
highest, until the Accommodations not OF
year or hundred years, but OF CEN
turtles, would be turned into this coun-
try. III a ratio was established less than
the commercial value OF the bullion, IN.
der the same law, every ounce OF silver
would seek the market where It's price
was the highest.
Believing that this law has no excep-
tion, whatever amount OF coinage shall
be determined upon as equaling the do
nestle demand should be maintained a.
the present ratio. We can not legislAte
for the present from the standing OF the
past. The monetary systems OF the
world have changed; the demand for the
white metal is lessening annually.
Should We adopt free and unlimited
coinage at ratio that would draw The
surplus silver TO our minis, there are no
channels through which 10 could psss
from this country except 10 South and
Central America. China and Japan.
Would they absorb sufficient to prevent
q glut In the home market which would
so efectually depreeiate the price as TO
estroy silver as standard OF value7
With an increased production and con-
finnal naRFaasa In Iha IA ID
be wise for the true friends OF blmetal-
lism TO seek at this time TO place silver
10 tho position II occupied 10 our mon
etary system prior TO 1873?
INTERNATIONAL BIMETALLIsM.
Mr. President. can see no solution
OF this problem except In international
The stability OF silyei
which has been overthrown by vcIoul,
and selfish legislation, can only be re-
stored in this way. still hope that az
no distant future the nations OF the
world will be compelled. II not from
choice. certainly from necessity, byA
dublic sentiment that will find It's ori.
gin In the present financial disturb
ances, resulting from the contraction Of
the metallic basis OF credit aud the mis-.
cries aud sutierlngs which will mark
the pathway OF monetary and economic
arrangements. 10 yield TO the views Of
this country Ia the establishment OF "a
ratio for the coinage Of
both metals on terms OF equality.
England has always been. and IL 10.
fsSsIsSdiqHIsel.ng block to the lnausur.
-
that has never before existed. IL ~
CON paratiyely easy for her TO maioiAin
gold monometallic standard when All
the other great nations Of the world
were measuring the value OF their eI'
changes either by the bimetallie or Sill
YER standard, but now, sir, when,
through her example, the statesmen Oh
other countries, not approaching the
wisdom OF Lord Beaconheld when be
said "her gold standard IL not the cause
OF her commercial prosperity. ous The
OF her commercial pros
psrIty," have followed her example, 10
will be very difficult for her 10 corner
and hold a sufficient gold reserve to
meet the demands OF her business ini
terests.
Competition, 10 degree she bag
never experienced, will result from all
the great and powerful nations enter'
ing into the markets OF the world, In q
..wild scramble for the yellow metal"
the supply OF which will DO found to-
tally inadequate 10 meet the demands
OF all and the necessities OF each, aud
"a the volume OF business increases add
the commerce OF the world erpayis
this competition will be rendered even
more desperate and bitter. Her states
NJ en- and leaders OF public thought Will
then, as they are now beginning TO.
realize that an annual production or
si30. 900, 600 OF gold will not furnish
sufficient metallic currency. even " all
OF IL was mlnted, 10 meet the demands
OF mankind in the marvellous expansion
OF the volume OF trade.
ENGLAND MAY COME AROUND.
England. once convinced that her ns-
tional interests, including 10 that term
her vast colonial possessions, demanded
the adoption Of the double standard,
would at once remove the only obstacle
70 the accomplishment Of international
bImetalllsm. The financial fabric erect
ed by the gold monometallists In Aus,
tralasia has been shattered TO its found,
alton before the tempest which this po1
lev has evoked, and the economic an1
Industrial systems builded upon IL, q
their prostrstlon furnish q wsrniua
which will tend TO cyrstalllIe public sen.
tlment 10 Englapd In favor OF the use oil
silver asa standard OF value, ADD IRON
the experience Of other nations - 10 IAN
20 ureeume that this senilmont VIII u
strengthened by the result OF the erper'
lment In the Decentralization OF silver 10
India.
Sir. IA will be impossible for the ns'
lion, OF the world. except from motives
tbs ba.est and most selfish, 20 perma'