Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-08-23

numbers we have about Sl,2UO,OVV'-
600 Of both gold and silver as money
basis, and they are nearly equally ui-
yided. If the gold and silver basis Is
maintained, we have about $1,000, OOO,-
600 of money of final payment Win
which to pay the obligation OF the gov
eminent, but If silver is destroyed as a
money basis there remains only ABOUT
$500, 900, 600 of gold upon which every
thing rests for final payment, even the
$500, 900, 600 Of silver itself Is addeo 10
the strain, and must be interchangeable
and redemabIe in gold. 1t can reaoliy
be seen what effect the law OF supply
and demand will be If Our money base
is reduced one-half. Can any one ap-
proximate the additional value or pur-
chasing power chat will be added TO
gold, as compared with labor and prop
erty? By this power Of Sound imam
ciaI legislation" as they call it, the
money and fixed income classes
will be able to largely In
crease the value or purchasing power
of money sud correspondingly depreci-
ate the value of all labor and property.
This is the real point at issue. 1t takes
nearly two bushels of wheat to pay
dollar OF interest on the governments
Indebtedness now, when in 1873 IL re-
ouired two-thirds of bushel only. 1t
is plain to be seen how beneficial 1t Is TO
these classes OF people TO Increase the
value of money and decrease the value
of labor and property. What these
classes have done to deserve such favor
itism at the hands Of the various gov
ernments is beyond ordinary compre-
hension, except that they had the power
and simply exercised IL! The two ex-
Il .mes OF this money question Is repre-
sented on the one hand by the Popnlists,
who want 10 expand the volume OF
money by converting the interest-bear-
in. debt Of the United States into cir
cllating medium, and the other Is rep
resented by the monometalists, who
want 20 adopt a gold or single standard
in order 10 contract the volume OF
money OF final payment, make 1t dear
and deUrcss general prices OF labor and
property. Peruvian and bad as the
Populist idea is, monometalism or con-
traction is infinitely worse, because
all productive enterprises will become
discouraged and stagnate, because the
cost OF producing articles to-day VIII
not be covered by the price obtainable
for them tomorrow. EXCHANGES be-
come sluggish, because those hav-
ing money will not part with
it, for either property or
service, for the obvious reason that
money alone is increasing in value,
while everything else is deere asinR in
price. This results in the withdrawal
of money from the channels of circula-
tion and its deposit in great hordes.
where 1t can exert no influence on
prices. Money in shrinking volume
becomes the paramount object OF COM
merce, instead of the beneicient in
strument. Instead OF modelling in
dustry, it posons and dries up its life
currents. 1t is the truthful source OF
political and social disturbance. 1t
foments strife between labor and other
forms Of capital while itself, hidden
away, gorges on both. 1t rewards the
close-fsted lenders, and flches from
and oankruptS enterprising producers.
The American ReUielO (lS76), says:
diminishing money and falling prices
are not only oppressive upon debtors,
but they cause stagnation In business,
reduce production and enforce idIeness.
Falling markets annihilates marts and,
as it is only the expectation Of gain that
stimulates capital to invest In opera
tions, inadequate employment Is found
for labor and those who are employed
can only be so on diminished wages"
while the volume Of money is decreas-
ing, even though very slowly, the value
of each unit of money is increasing in a
corresponding ratio, and property and
wages are decreasing" All intelligent
writer's on currency agree that when it
is decreasing in amount poverty and
misery prevail. II the country Is
forced to q gold basis alone, which now
seems likely, confidence in time will be
restored, but frmer prices Of labor and
property never. Is 1t TO the interest OF
the greatest number to adopt the gold
basis? Are the people prepared for itP
Can they stand il? II wa adopt the
gold or single standard money will be-
gin TO flow again just so soon as the
gold value in contra distinction to a
gold and silver value of labor and prop
erty becomes certain. In other words
a reimbursement of values, or reduction
of value of all LABOR and property from
a gold aud silver to gold value alone.
1t is clearly the duty Of Congress in the
interest of the people to maintain gold
and silver basis, but the parity should
also be maintained. And TO this end
all the silver should be coined and
added to the volume Of our money base
in order to keep even pace with the In
crease in population and business de-
mands that it is possible for US to carry,
If not free coinage, then in limited
quantity. Then again our government
should use honestly and sincerely,
which has not been done before,
all it's great power and influence
to induce foreign nations, or as many
as can be induced to assist In restoring
silver to It's place prior to its demone-
tization In 1S71-73 by the various Gov
ernments, then silver in value will be the
equal OF gold the world over. In &C
complishing this we not only help the
people of our own, but other lands as
we'll. Monometalists In the interests OF
the people must not be permitted to
have their way in this matter. Their
cry OF "sound financial legislation is all
bosh, 1t is only the cloak to hide the
theft. We can have a proper and sutfi-
Gent volume Of sound and stable cur
rency without contraction and without
Destroying forever olo of the money
metals witch has been in Use for CEN
turtles, ana long, long before our Savior
was born. During all the centuries OF
the past in which silver was used as
money, no attempt was ever made to
destroy it, it was too useful, but it has
been reserved TO the enlightened shy
lock of the boosted Nineteenth Century
TO say that silver shall no longer per-
form its office. Silver which has con-