Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-08-18

home. They are all anxious ioL noie'
Thev are overwhelmed with desire 70
invest their money wherever they can
receive a reasonable compensation with
a good. sound and safe security. And
here we are giving six per cent. lor
money. and in some cases eight ana ten
ner cent. Let the capitalist ABROAD
pnce come to understand that the dol
lar he loans here is TO be paid him oscK
In the same dollar when 1t finally comes
70 his hands again, and European capl-
tai will come over here In Overwhelming
volumes TO be invested In this country
and 70 continue 10 build up and make IL
great and glorious and grand and pros
nerons as II ought TO be under our lree'
equal AID just laws. Applause.
Now. my friends, can We make any
ratIo satisfactory standing BY ourselves?
when come to consider this question l
intended to vote for the ratio OF 70 TO l.
Rnt the more studied the question
the more | found that would lust DC
in the same trouble that l would De a
in with a ratio Of 16 TO l, or 10 TO l. A
ratio OF 10 TO l prevailed In this
Land when France was coming SILVER
Xxx 10 1. When Germany was max
inc silver her sole money metal. When
Ttslv. Switzerland, Belgium, Holland
and all the commercial countries OF
Enrone save England were coinage
silver at a ratio OF l5H to l. ana no"
much did we coin in this country! mnY
did we not coin more than we did? ave
coined practically none at all down 10
1s73 EXCEPT small change, because the
varv moment the silver miner found
that be could get an ounce OF gold In
France or other European countries tor
151I OF silver he naturally went there
with his silver instead OF coming mere
where it took 16 ounces OF silver 10
purchase one OF gold. Now we are
s.ked TO return to this old ratlo
of 16 to l, when under that ratio
wa never coined any silver money
and we had no silver money prac-
tically outside OF the subsidiary coinage
ever in circulation. Then with ratio
of 16 TO 1 we could not coin II In those
DAYS when France, Germany Italy,
Spain and all continental Europe stoou
ready TO uphold our hands ana main
tain Ms in that coinage. That being
so. what can we do to-day when we
alone practically among the civilized
nations of the world propose 10 es'
tablish a ratio of that character.
Mr.. Would the gentleman
be willing to vote for any ratio.
Mr. Pendleton OF West Virginia-No,
sir. | would at one time, but not now
unless with three or four commercial
nations to help US at an agreed ratio
Mr.. Capehart-Did your constituents
in the convention which nominated you
less than a year ago give any expression
Of opinion on that subject?
Mr.. Pendleton OF West Virginia.
None whatever, except TO adopt tn
national platform at Chicago.
Mr.. Capehart-I have the platform
on which the gentleman was elected
and If he will pardon me l Will read IL;
Mr.. Pendleton of West Virginia.
Welded to the gentleman for question.
| did not yield for speech.
Mr.. Capehart-This was last year.
less than year ago.
Mr.. Simpson-Let us hear 1t.
Mr.. Capehart-( Reading)-"That we
are in favor of a bimetallic currency OF
gold and silver"
Mr. Pendleton Of West Virginia-And
so am /.
Mr.. ACKNOWLEDGEMENTS the
free coinage Of both metals, establish
ing such parity between the two as
shall keep both in circulation"
Mr.. Pendleton Of West Virginia
That is what favor and that is what
Grover Cleveland favors, and that is
what every bi-metallist favors. Now
say how can we maintain any
ratio when we find there
is no other civilized nation
with whom we are prepared to deal that
will sustain us in any such ratio? we
find ourselves again in the situation OF
having one money that Is current
throughout the civilized world and an
other coin that is current only here.
The same old result will follow as has
followed before. Gold will leave the
country and we will be left here entire
Iy on a silver basis. Every foreign
debt will be paid In gold, as that Is the
coin which is money abroad, and we
shall be left with our silver for
our money and have no money
left that is common to the world
and with which we can trade
So that I cannot see how we can main
tain any ratio unless other trading ma
lions join US. Silver is treated as a
commodity by nearly all the civilized
world. It's value depends to-day very
largely upon the supply and demand OF
the ardcle, and II we adopt the ratio
OF 16 to l we should find silver worth,
how much? Fifty-eight cents on the
dollar. Suppose we adopt the ratio OF
20 70 l. So long as the supply Is the
same and the demand is the same as
now we should find silver worth so TO IS
cents on a dollar. Suppose we should
adopt a ratio Of so 10 /; then silver
might be worth dollar and quarter.
But my objection would still be the
same, the lack of stability, the contin-
ual fluctuations of our metal, while the
balance OF the world would have sta
tionary currency that was good not
only abroad, but also here. That Is the
great cardinal objection with me to any
such proposition as that which is made
here-unless we can obtain such inter
national agreement. But, IL we should
obey the platform adopted at Chi
cago and wipe out OF existence the
purchasing clause Of the Sherman Act,
where would the country stand? Some
friends Of mine say that We would there
by be making debts greater. How? We
would be left, IN the first place with
every dollar OF currency that we have
to-day, and not debt would be In
creased one-hundredth part OF cent In
value. The same currency that we now
expect to pay our debts with, the same
gold and the same silver, we would stu
have. What would necessarily follow
such course? Simply this would come
+o,oss. asoon a. IL was found that