Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-09-08

earlier, In 1912, as stated by Mr..
sherman, except for the Sherman act,
which only postponed the evil day. Many
people seem to be under the impression
that over uroductio has been the cause
OF the fall in silver. This Is an eggre-
gious error. The fact Is that with re-
monetization by the principal govern
nent the effect Of which would be to
restore the value of silver, a ratio OF IL
to or less would perhaps more than
cover all over production. The time
came of the fall Of silver or properly
speaking the rise in gold, is given In
this communication and the rule has
been laid down by the highest scientific
authority, in fact all writers agree upon
IL. bi-metalliSts and mOnometallists
alike. and the results have sustained
them. II must be remembered that Sill
yer has never been demonetized before
In the history Of civilization, therefore
the disastrous results yet to follow can
only be anticipated. II the people would
only study thoroughly this question
they would see for themselves what
wide field il presented, and the possible
danger in the future. The question for
our government 10 determine 1T the
present time is how much silver
can we maintain without danger to
our finances. or In other words how
much silver will our gold maintain at
mar with itself? That should be the
limit OF our coinage Of silver, and 10
that extent we ought TO go. But the
government should plant itself hrm as
a rock upon the principle OF olmetal-
ism, and every power on earth to induce
the other nations TO assist in undoing
the horrible work or TO remonetlZe Sill
YER, then it will be the equal OF gold
and can be carried as freely IS gold.
The monometalists Of this country must
DO relocated TO the rear because they are
its deadly enemies. Let them go TO
England where they belong. 1t is to
interest OF ninety-nine out or every
hundred people In the United States, ir-
respective OF party, sect or creed, TO
have bimetalism; yet in the face OF this
fact our government demOnetiLed silver.
In some mysterious manner, so FAR as
wa are concerned, Germany and
the United States demonetiZed sill
YER in 1873. Then two great and
powerful governments dealt the fatal
blow To silver, the remaining silver
countries being unable to sustain It's
value, were forced to surrender, and we
are now reaping the result Of our folly.
1t was the duty of the United States
then TO have used every means at her
command TO have prevented demonetl-
cation (thereby preserving the parity
OF silver with gold and no doubt she
could have prevented it. France pre-
vented the decentralization OF gold In
1857 from becoming general throughout
Europe, and why could we not have
prevented the decentralization OF silver
i'm 1873? The methods and manners OF
of the passage OF that act through our
Congress ought to be prooed to the
bottom, in order that historians may be
able 10 reveal the truth for the benefit
OF posterity. Mr.. Sherman stated in
the Senate the other day that he knew
the effect OF the act. Mr.. Hooper, the
Chairman Of the Finance Committee
OF the house in 1873, certainly
knew it's effect, because Mr.. Ernst
Seyd, AN Englishman, who was acknowl-
edged 10 be the very highest authority
on questions of money, and had made
Lifetime study OF its peculiar workings,
wrote Mr.. Hooper, portraying wildly
and plainly the disastrous results, ana
beseeching him not to pass the act, and
IL is fair to presume that all Others be-
hind II knew its effect. Notwithstand-
ing, in the face of all this, the act was
passed. What are the people to thslk
when their dearest interests are so care
lessly, ruthlessly and wantonly thrown
away? What 3 reflection it must be to
the members OF the Congress OF 1873
now living. who by their stupidity or
otherwise, when they see this proud ma
ton lying Frustrated, wounded and
bleeding commercially at the feet OF
England, and at her mercy for the time
being? A greater piece OF folly was
never committed in this nation, except,
perhaps, the rebellion, and IL almost
EQUALS that. Reader, il you have not
already done so, will you be kind enough
TO study this question, as it is highly
important to you?
IL mattered not whether this nation
was on a gold basis by economic law
since 1884 and on gold basis by ex-
press statute OF Congress since 1873. IL
mattered not whether this nation
coined IS, 900, 900 or any other amount
OF silver prior to 1878. 1t mattered not
whether this nation or one half the ma
tions OF the globe were on a gold basis,
so long as the remaining nations were
able and did maintain the value OF sill
yer on a parity with gold. 1t was only
when sslyer was demonetzed, it's inter
national character destroyed, which
caused gold to rise and all property and
labor TO fall in value, that 1t began TO
be injurious. This in truth is the cause
OF the whole trouble. When silver was
stripped OF its international character,
which virtually destroyed 1t as money
base, our whole financial system was
weakened one half. In other words,
under gold basis, we only
have one half as much money
OF final payment, as we had under a
gold and silver basis. England knew
the effect the law Of supply and demand
would have on the characterization OF
silver: therefore she forced 1t, and is on
ton to-day, but il England finds, which
many predict. that monometallism will
kin the goose that lays the golden egg,
sbe NAV let up a little, just enough,
however. 10 let the goose catch its
bresth. but that is all, unless the other
nations force her to honest terms. The
nrobabilities are that II silver had con-
timed 10 occupy its former place as a
money base, or in other words contin-
ned on a parity with gold, so as to have
prevented reduction or fall in the
price or value OF commodities, the
TTnited States to-day, with the energy
industry and ingenuity of her people,
doubtIess would be the Commercial
Mistress Of the world, her public debt
-.t..l1. fnnllu Maid and her peO-