Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-10-04

conditions stated, gold, as money Of the
greatest value, would at once begin TO
be boarded aud would disappear from
circulation, and all payments would be
made in silver? This would be only
the natural and reasonable result. The
people would understand the difference
in value between a silver dollar and q
gold dollar under such conditions.
Mr.. President, | have seen it stated
that nine hundred aud ninety one OF
every thousand Of all the peoples OF the
world are either engaged in the acqui-
sition OF money and money values in
property, or in the daily efforts TO obtain
the n~ecessaries OF life. The actual
drones In life are very few, and especi-
ally is this true Of our country OF
almost universal activities. The gett-
ing of money is the great aim and
object Of all peoples. Edo not speak
of this in any sordid or unworthy sense.
Money supplies all our wants; it fur
nishes our meat, bread, and clothes; il
provides homes for our families, and
beauties them; it educates our chill
dren, and provides for their comfort
and advancement In life.
Our thoughts naturally tend towards
the accomplishment of these results-it
quickens our perceptions to the differ
ence between loss and gain, aud sharp
ems our vision TO distinguish the differ
ence between dollars of unequal value,
and to max US hold on to the one OF
the most value with the one hand, and
to pay out the least value with the
other hand. The laws OF commerce and
trade are higher than the laws OF legis-
lative enactment; legislation can not
make q dollar that is worth less than
100 cents hold its place in commerce and
trade with the dollar worth full 100
Mr.. President, it never has been
done, and it is contrary 10 all exper-
fence to believe that it ever will be
done.
The telegraph and steam have
brought the most distant nations into
business r~elations-so close as make it
possible that purchases can be made,
bills Of exchange drawn and cashed in
payment, and commodities shipped and
started TO their destination, all In a
day-and New York and London
communicate with each other as readily
as II they were neighboring towns. Mr.
President, there is no sentiment, or
ought to be no sentiment, in money.
Money is only the medium by which
our wants are supplied. and the dollar
will buy the most and go the
farthest In supplying our wants pos
the highest and most useful at.
tributes OF money.
II is further stated, Mr.. President,
that an abundance Of money makes
prices for labor, agricultural
products and all other products Of labor.
am In favor Of plenty OF money
money enough to meet all the demands
Of business, and to make it easily OBJ
tainable-but, Mr.. President, 1t should
be good and stable moDey-not q de-
preciated money, or a money In danger
Of depreciation.
But, on the other hand, Mr.. Presi-
dent, 1t has been well said that the
States is rich, prosperous, and
Unlimited In it's resources, and
Is credit challenges comparison with
any other nation or country, and con-
,ede with pride that, upon any reasona-
Die basis OF understood financial condi-
ions, she can maintain almost any cur
'ency on a parity with gold; but In
to do so she must comply with
The reasonable conditions OF sound
inance based upon the worlds eIper-
ence. Great as our nation is, IL can no
more persist in violating the safe and
lRss5ttbphSHi leSsRi, finance wlthqnt haAssE
persist in violating the laws OF heaitn
bringing upon himself the most
,srions Mr.. President,
he standing Of a country and the char
,cter of its people are estimated more
Nv it's public credit and the stability OF
It's money than by any other standard
Mr.. President, there is another phase
this question to which l wunt to
-efer in a general way. 1t is claimed
hat silver is the money OF the people
This is true, and has been so from tue
earliest ages. 1t was the currency In
which Abraham paid for the field In
which his dead were buried; and during
of the earlier periods it was, OF ne
,essity. the money Of the people VINO
haodled none In a limited quantity. |
The rich and those who handled money
in larger quantities were the owners
and users OF gold, for the reason that
was too bulky for the larger
transactions. In this way a line was
drawn, separating the use OF
gold and silver between the rlcner
classes, who were comparatively lie" In
number, and the masses OF the people,
who used money in smaller quantities.
In this way gold was In the hands OF
the few and silver In the hands OF the
many, and the great majority OF the
neo6le from the earliest times became
more In sympathy with the users OF Sill
YER than with the users OF gold. FOR q
long period Of time In the history OF
the world all the transactions OF lie
and exchanges OF property were made
by the actual payments OF money,
counted down. Bills Of exchange and
the accompanying methods and condl-
tions OF banking were unknown, all
transactions were In metallic money
hut as civilization and the necessity for
money increased for more extended
transactions. exchanges and paper sub
stltutes have been gradually devised
from time TO time TO take the place OF
metallic money, until at the present ad-
yanced period in the civilization OF the
world, nearly 90 per cent. OF all It's
money transactions are carried on In
paper credits, consisting OF bills OF e1-
change, bank checks, ETC., and only
ahout 1 DER cent. 10 actual money OF
any kind passes from hand TO hand.
The wage-laborer, mechanic, farmer,
ana all other people OF small means are
the first 10 meet losses frOm adepre-
ciating aud h~unctuating currency:
Capital is vigilant and i%arsighted, and
II Is the business Of capital TO be on the
alert. and to study the conditions OF
money and money values, while 1t Is
not the habit of the laborer. the me-
cbanic, and the people OF small means