Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-04-26

supply and demand, would be meas
ured by the number Of dollars, or
units, contained in gold and silver TO-
gether, being $4,000, 600, the guam
tity in circulation in the principal ma
ton, or the United States, the prop
erty and labor would be measured by
$1,000. 100000, the number Of dollars
in round numbers, of primary money
in the government, but the repeal oil
the laws in 1874, authorizing the
further coinage OF silver, destroyed
the equality Of the exchange value IN
property and labor Of 371A grains Oh
silver and % 2-10 grians of gold, the
effect of which was TO limit the silver
already coined to token or credit
money, leaving the four billion gold
dollars only as the standard or meas
ure Of exchange values by which the
property and labor of the world are TO
be measured, or in the United States,
six hundred millions Of gold dollars,
as the standard or measure Of eX-
change values, by which the property
and labor OF the United States are 10
be measured. This reduces the num-
Der Of units, or dollars, Of primary or
actual money in the world from So
600 .0O0. 900 to 100000 600, and IN the
United States from $1.2OO,OOO,OOO to
$500. 000. coo, in round numbers. rms
is what the gold standard means as
contradistinguished from a bi-metai-
lie standard The position that silver
occupies now in the monetary system
is not that of primary or actual
money. 1t is token money, credit
money and it's place could be filled
equally as well by paper or any other
kind Of credit money, the silver al
ready coined being limited in useful
ness TO the limits Of the government
coming It, The value Of money,
other things being the same, varies
inversely as It's quantity; every IN
crease Of quantity lowering the value
and every dimunition raising 1t In a
ratio exactly equivalent says John
Stuart Mill. THAT commodities would
rise and fall in price in proportion 10
the increase or diminutiOn of money, /
assume. as fact that is incontroyert-
bile" saws RicOrdo. They refer TO
urinary money and exchange value.
The contraction OF the number on dol
lars. or units, of primary money one
half and the attempt by law TO mann
tain all payments ultimately in gold,
causes each gold dollar 10 double IN
exchange value, not in intrinsic Vaiue'
in property and labor. Credit money
when interchanged and redeemed IN
gold on demand. is the equal in eN-
change value OF gold. This causes all
money to double in exchange value,
not intrinsic value, in property ana
labor. What euect has this upon the
different classes OF people? Inc
money. creditor and fixed income
classes find the exchange value, not
the intrinsic value, of their money,
credits and fixed income doubled III
porDerty and labor. without giving
any remuneration for it, the properly
class find the exchange value, not the
intrinsic value. Of their property re-
duced in dollars one-half, the DEBTOR
class find the exchange value OF their
debts. payable in dollars, doubled, be-
cause they are forced TO exchange
double the amount Of property or Ia
Dor to procure the money with which
10 nav the debts. than when Dle debts
were contracted. the producing and
labOring classes find the exchange
value of their products reduced one
half without a decrease in the cost OF
production. and all find the volume OF
business confined TO narrow ana re-
stricted limits rs compared with pl-
metallic standard. The bi-metaiIlc
idea or standard of exchange values,
from long range has become so I'M
I'm nf
that il has almost become a second
nature to them; therefore, they are
resisting the change inthe standard OF
measurement of exchange value, from
a bi-metallic to a gold standard, with
all their might, the weaker classes
succomhing first, the stronger Will
succomb to the inevitable later on, but
all will eventually get there, II the
gold standard is maze permanent. II
may require several years before the
gold standard of exchange values Oe-
come definite and certain in the minds
of the pe0ple. and until then business
will be more or less unsatisfactory.
The strong arm Of the law solely
maintains the exchange Yalue Oh
% 2-l0 grains OF sold.
In property and labor, the bi-metal-
list wants the exchange value, not the
intrinsic value. Of 371A grains, on an
equality with % 2-10 grains OF gold,
in property and labor maintained by
the same strong arm of the law that
maintains the exchange value OF gold
and every dollar Of credit money IN
| terchangable and redeemable on de-
I oil n
give an equal exchange value IN prop
erty and labor. Every silver and
gold dollar. a 100 cent dollar, and
every dollar of credit money equal IN
| exchange value thereto. The bl-me-
tallist is not an inflatiOnist, he is not
a Populist but he wants an honest
dollar and sound currency. There
never was q more dishonest dollar
than the dollar of to-day. 1t robs the
masses of their hard and just earn
ings without giving them any remun-
GRAFTON for it. The only way to re-
store the NCchangGvalue Cf311A
grains of silver, on an equality with
| % 2-10 grains CT gold, in property and
labor. is to restore the coinage laws in
regard to silver as they existed prior
TO 1878 The effect of this would be to
reduce the exchange value not the in
trinsic value. of % 2-1O grains Of gold
to an equalization with 371h grains of
silver in property and labor, causing
all money to fall and property and
labor to rise to an equalization on
bi-metallic standard as it existed for
merlv and the basis upon which all
debts substantially have been con-
tracted. This is the honest dollar
which every true bi-metallist is adj