Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-01-30

aUG never have been, IN favor OIL
He then gives q review Of his opinions
and action at the time Of the passage Of
the Bland-Aluson bill in 1873, and
quotes the following statement from
speech made at that time:
Ny position upon this subject is briefly
this: Z am opposed TO free coinage OF
either gold or silver but in favor OF unlin.
tied coinage of both metals upon terms OF
exact equality. No discrimination should
be made in favor Of one metal and against
.ne other. nor sbOnlG any discrimination be
made I'm favor Of the holders of either gold
or silver bullion and against the great BODY
Os the people who own other kinds OF prop
crty. 4 great government should treat all
its citizens alike, and whenever 1t at
tCupJs 10 DO otherwise it will engender
spirit Of discomfort which sdCner or later
must disturb the harmony, If not the peace,
Of society.
In reference TO this statement Mr..
CARLISLE goes on TO say that it shows
precisely what his position on the suo-
Jet has always been, adding:
1 believe that gold and silver bullion
should be treated exactly alike N the
minis OIL United St2tGs-that is, that a
dollars worth Of gold sho1,d be coined
into q gold dollar, and dollars worth OF
silver should 0c coined into silver dollar,
and If no change is made for coming the
one, then no change should be made for
coming the other.
He then refers with commentator to
the silver ulank in the Democratic plat
form of 1892, which, after demanding
the repeal Of the silver purchase law OF
1890, declared in favor Of "the use OF
both gold and silver as the standard
money OF the country" and Of 1.-The
coinage Of both gold and silver without
discriminating against either metal or
charge for mintage," but that 1.-THE dol
lar unit of coinage Of both metals must
DO of equal intrinsic and exchangeable
value, or be adjusted through interna-
tional agreement, or by such safeguards
of legislation as shall insure the main
tenance of the parity Of the two metals
and the equal power OF every dollar at
all times in the markets aud in pay
ments of debts" and adds:
The gold and silver coins cannot be Of
equal intrinsic value, as demanded by this
resolution, unless the metal contained IN
each of them is Of equal value while still IN
the form OF bullion. Coinage adds nothing
whatever 20 the intrinsic value Of the
metal but only ascertaiEs officially its
WciCbt and fneucss, puts II In coDyen-
lent form for circulation. and authenti-
Gates 10 by the stamp Of government. The
United States coined over S4OJ,OG0,OOO in
silver since the passage Of the act Of 1873,
but this has not added one cent 10 the IN
tri1sic value Of the metal contained in
them; nor has the purchase and coinage Of
this enormous mass Of silver during
period OF fourteen years caused any in
crease In the price OF silver bullion. ON
the contrary. the price Of silver bullion in
an the markets OF the world, ia those
countries where there IS free coinage as
we'll as 10 those where the minis are closed
TO silver, is much lower now than it was
IN 1873, when this government began TO
purchase 10 az the rate Of $2I, Geo, coo worth
per sunum.
Neither gold ror silver coins, except the
subsidiary coins, wil ever again enter into
very general use rs currency IL any great
commercial country The principal Office
OfCheS9 coins is 20 fOrm a basis for the is
sue of notes or certificates, which COnsti-
tute the most convenient form OF clrcula-
tiOu among the people. Any measure which
would have q tendency TO broaden this
basis of circulation by increasing the
amount of metallic money with which the
paper can be redeemed would, in my opin-
ION. DE beneficial not only 70 this country,
but 90 the world generally; but this cannot
be done by the fabrication OF two cOius Of
the same denomination, but Of equal in
trinSic value, because both of the coins
cannot constitute at the same time the
money of redemption. Sixty-eight cents
worth Of silver and one dollars worth Of
gold cannot both be standards of value at
the same time and place, and this has been
fully demonstrated by our own experience
during the last fourteen years, for although
the silver dollar has been all that time
fun legal-tender under the statutes of the
United States, everybody admits that we
are still on q gold basis and therefore the
value OF all the paper put in circulation is
measured not by silver Dut by gold.
How can we change this and so broaden
the basis of circulation aS 70 make silver a
part of the real money By which values
shall be measured and paper redeemed .
There are only two WAYS in which this can
be done by governmental action; first, by
the coinage of a silver dollar actually con-
tanning a dollars worth of silver; or, sec.
OnlIy, Oy an international agreement fixing
the common ratio between silver and gold
for coinage purposes. When either oftheSe
things Is done silver will be fully remOne-
tlz1d, and silver and gold together will con-
sttUtc the real metallic money OF the world,
rne money with Which all paper circulation
viii be redeemed and into which all con-
tracts will be resolved upon final settle
ment
This statement OF the views Of the
coming Secretary Of the Treasury ought
to stop the reckless and ignorant critics
of Mr.. CAELIsLE's attitude on the silver
question. 1t contains small comtortfor
the silver kings, who want free coinage
Of the present lightweight dollar, or for
those opposed TO the repeal of the silver
purchase act. On the contrary, Mr..
CAEiISLE'S views are eminently sound,
conservative and safe, and meet the APP
prevail Of the business world and the
sensible and conservative people Of all
parties.
REMTREsRgA EggE sT