Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-09-08
TIE SILVER QUESTION.
mHonesty" Discourses Further Upon that
Important Question.

TO the Editor or tie Register;
S1R:-The approximate amount OF
gold and silver in the principal coun-
tries of the world is as follows; Gold
ss.711, s45, 900, silver s5,939,57s,O 600,
making a total OF 81, 651, $4,000, Of gold
and silver. This gold and silver might
properly be termed international money
because OF common consent OF all the
people In the world, to the remotest
antiquity, gold and silver, side by side,
have performed certain Offices ana
function. That Is, all countries at all
times would receive both gold and Sill
yer in exchange for commodities or any
any obligation, freely and without ques-
tion. This fact is what gave gold ana
silver their value, except the demand
for them in the arts, ETC., but II they
were TO be Invested OF their
use as money, the commercial or
Intrinsic value OF gold and
silver would be found to be proper
tionately like iron or any other COM
modify. The demand for these metals
for money increases their cost In the
arts. BY reason OF the international
attribute or character or gold anu
silver, they have found the base OF all
other forms and kinds, local or other
wise. OF money, that is all other kinds
OF mOuey must be paid or redeemed IN
gold and silver, because gold and silver
will pass current in any part OF the
world and other kinds Of money will
not This fact makes gold aud silver
superior or more valuable than other
kinds OF money. Money other than
gold and silver may properly be called
local money, payable and redeemaOle In
gold or silver at the option of the power
that issues Il. Any kind Of money, in
Guiding gold and silver, is a legal ten
der only In the country that issues
II. The S7,651, 900 OF gold and
silver OF equal value international
money, have q value or purchasing
power relative 10 all other forms OF
property and labor in the entire world,
or wherever they circulate, and any
change or alteration In the volume or
character Of gold and silver affects the
the value of all other forms OF property
or labor either one way or the other,
which Inevitable result is produced by
the law OF supply and demand. We all
know the effect Of the law Of supply and
demand on the price Of our cereals; II
is the same with money. What is the
effect OF the demonstration OF silver or
rather the stoppage Of the further coin
age OF silver by the principal govern
ments OF the world? The scientists lad
down the rule which subsequent expe-
rience has shown 70 be absolutely cor
rect. that gold would rise or rather In
crease in purchasing power, and that
all other forms Of property and labor
would SpOndingiy decrease In
(price) value or purchasing power rela-
tive to gold alone. Silver has not de-
creased In value or purchasing power
relative 10 property and labor, II any
thing II has slightly increased, but gold
has increased in value relative TO silver,
property and labor Silver compare
lively speaking has been stationary as
compared with labor aud property, In
fact remains the friend OF the people,
and stands close by their commodities
I'm value, which IS one Of the best of
reasons why the people ought 10 stand
by it, and . gold down from It's high
pedestal. Il vas on the foregoing rule
that England based her monetary laws
and has come out ahead in the race as
she knew beforehand and In conse-
Ouence has practically increase her
wealth thousands Of millions by the
mastery and unparalleled stroke as she
is q creditor nation aud many OF the
principal nations are largely her debt
ors, the United States for instance.
The demonetizAtion OF silver, watch
caused gold 10 rise in value,
destroyed the value or usefulness
OF silver as international money, that
is the principal countries or nations
will no longer receive IL in payment OF
balances, except AZ its lessened and
prospectively lsSSened value, as COM
pared with gold. Silver being deprived
OF its lntrinsIcal character or attribute
or value, gold alone must necessarily
perform the same function that both
gold and silver heretofore performed
that, is gold only will be accepted In
payment OF foreign balances by the
principal nations, and gold alone can
only perform this double duty, under
the law of supply and demand, by cor
responding reduction In the value or
or price OF all other forms OF property
aud labor. Silver, being deprived OF
its intrinsical character, befJmes local
money, subsidiary TO gold and Is placed
on the same plane with paper or any
other form OF money. interchangeable
and redeemable finally in gold
alone. IL can readily be seen that
10 deprive silver OF its international
attribute and place as a money base,
and impose upon gold alone all the
functions that both gold and silver
heretofore performed, that the demand
for gold for these purposes VIII De so
largely in excess Of the supply that
gold must necessarily rise In value or
purchasing power and all other forms
property and labor fall in price or value.
There is absolutely no escape from this
rule. IL Is one OF Gods own laws, and
cannot be changed by any human law.
Again the population and business de-
mands OF the world are continually in
cteasing and, judging the future pro-
duction OF gold by the past, the addl-
ton TO the volume OF gold, the base or
all money, will fall below the increased
demands. Therefore, gold in the fu-
ture will continue gradually to rise In
value or purchasing power, and all
property and labor will continue TO fall
I'm price. With constant diminished sup
ply and, 10 consequence, gold continual
ly rising in value in the future, what
becomes OF gold as an ever unchanged
bic standard or measure Of values? The
gold basis means an European standard
OF prices for both property and labor, il
we continue gold payments on demand.
An money being payable on demand in
gold is equal in value 10 gold, provided
- ,,oyarpmpnt has vOlQ To redeem