Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-04-28
THE GOLD STANDARD.


as ABOVE stated.
The gold standard depends greatly on
the amount OF other kinds OF money in
circulation as compared with the guam
tity of gold money In the world. Would
any one contend that the value OF gold
would remain the same II all other kinds
of money were destroyed. Would not
the value OF gold be enormously en-
HANGED il our stock OF silver and paper
money was cut down to level with our
gold volume.
The fact is plain that stability can be
only safely secured in a fixed and inVa-
rla0le standard by constancy and regu-
larity in our money supply. The charla-
tans who are mighty in the grand OLD
party, so-ealled, endeavor TO make the
tolling millions believe that the full
remonitization of silver will indiscrimi-
nately demonetlzs gold, but organized
labor is unprecedentedly intelligent and
can not be led astray with such sense
less opinions.
The value OF gold was made a very
different standard from what 1t was be-
fore silver was demOnetized, from the
fact that the parity between the two
metals was DESTROYED and thus eleya-
ting gold beyond its justidable position
as money.
The mono-gold standard has lead to
contraction Of the currency so vital as
10 make its impress on all prices OF
property, and wickedly disturb the
equities as between debtor and creditor
The experience and observations, for
more that fifteen years, have corrobo-
rated the correctness of our views and
theories. 1t requires no foresighted-
ness TO perceive the method by which
silver was thrown out OF the category OF
money into the conditions OF merchan-
disc, the specific foundation OF all cred
its and currencies has been reduced al
most one half, that was contraction OF
about so per cent. This is the fearful
condition Of things at the present day.
This is why real estate and farm
products are worth only about
two-thirds what they would have been
had silver remained as money and re-
tanned its equal purchasing power
alongside that OF gold. But the de-
monetization of silver gives the cred
itor an undue advantage over the
debtor, which is so discOuraging that
he feels like becoming bankrupt rath-
her than make an effort TO continue In
a financial paying condition. 1t drives
the great middle classes into poverty
and enables millionaireS TO multiply
their millions. The gold standard is
as surely a stepping stone TO anarchy
as night follows day-nay, more; 1t is
the broad road leading to the sure de-
cay Of constitutional liberty, panics,
suicide, agrarianism and universal mis-
cry among all wealth producers, for
whose welfare the best craftsmanship
should be enlisted.
The true financier does not insist on
the single standard Of either metal and
demands the money Of the constitution,
free coinage Of both gold and silver, II
more silver Is coined than gold we are
not hurt, for there are more than i've
times the number Of people who use
only silver as money than use only gold.
All good people who have given the
question Of the present depressing eff
fects Of the gold standard, their serious
consideration, unite In the general de-
mand for equality OF silver with gold.
Money is governed by the law of sup
ply and demand like all other property.
An unlimited supply Is as destructive to
commercial value as an utter want OF
demand.
The crime OF the nineteenth century
was committed when the governments
Of civilization made q radical departure
from honesty and fair dealing by p err
hitting the holders Of fixed capital to
cut of half the supply Of the worlds
money and thereby double the value OF
their holdings.
A fall in prices OF 1873 per cent in
fifteen years Is a sufficient cause for
the depression and hardShips which the
people now endure. Prices have gone
down and standard money has gone up.
The law Of supply and demand has
done its work. The rejection OF silver
cut of half the supply. BY reason OF
growing population the demand has
constantly increased.
The gold kings have pooled the
money OF the world and placed it be-
yond the reach Of the producers. The
debts OF the world cannot be paid in
gold. The property of the world must
be sacrificed on the altar Of avarice by
fraud or silver must be restored to It's
original value. The fact that money
has gone up and property down is felt
throughout the land. Every mortgager
Is suffering from this fraudulent change
in his contracts. The weight of farm
ers mortgage is becoming heavier
every day, while his power to lift 1t is
constantly diminishing. 1t takes more
bushels of wheat, more hours OF toll and
more anxiety generally 10 pay his debt
by 30 to 40 per cent than when 1t was
contracted.
Gold Is the standard by which the
value Of other moneys, paper and silver
is measured, the value Of these moneys
being determined by the faculty with
which they may be exchanged for gold.
Hence as gold is standard or very
greatly restricted volume as compared
with the worlds commercial transac-
tions, so must the volume Of silver and
paper money interchangeable with this
gold standard OF necessity, be restrict
ed in like ratio, with the volume Of
gold. Gold being the standard by which
the volume and hence the value OF cir
culating money is determined, 1t is
therefore the standard by which the
price OF labor and its products is meas
ured in corresponding ratio.
The intrinsic value OF gold or the IT,
trlnsic value OF silver are misleading
terms. which have no definite or deter
mined meaning. All things have in
trinsic qualities but not intrinsic value.
Value depends on two conditions, name
": Limitation Of quantity and the de-
sire OF man TO posses; in other words,
upon the law of supply and demand. If
either element of supply or demand is
wanting, no commercial value can ex~
ist. The decentralization of silver was |