The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-06-07
THE PUBLIC

THE PUBLIC ADDEESSES
| At tho Opera House Were n Most Interest.
lug Feature OF tho Meeting OF the state
bankers.
Last evening ut s o'clock n OF tho
most representative gatherings OF bust.
ness men, bankers and manufacturer
ever seen in Wheeling was called to
order by Mr.. Il. G. Dulzell at
the Opera House. Tho meeting
was open TO tho public, although i,
was n part OF the proceedings OF the an.
nual meeting here OF tho West Virginia
Bankers Association. Addresses ere
delivered by President Jamos II. VIII
lock, president OF the Second National
Bank. OF Pittsburgh. md Sy Major Jed.
Hotchkiss, Of Ssaunton, Va, who has
been identified for years In the materi.
a development OF the lower portion Of
this state.
Mr.. Wiliock's theme was Sound
Currency" and in it he took as strong q
stand as was possible against tho Six
teen to One free coinage idea. He said:
"In speaking on sound money be-
fore tho Wost Virginia Bankers Asso-
citation. / feel tina, | am ut once enjoy.
ing n privilege apd performing q duty.
Ny pleasure arises from speaking 10 IN
audience OF such intelligence. though l
can hope to say little original upon q
subject which is being discussed with
great ability by the. leading men OF the
country. Every repetition OF good doc
trine is one more blow q. heresy. and at
such q time a. this, when financial
heresy is rampant, l believe it to be the
duty OF every man to add testimony to
the growing accumulation OF evidence
on the side Of right.
The country must DO educated to re-
gard this vital question in n true light
The very persistence Of the hcreticE has
gained for their teachings an adherence
which has become 4 menace TO tho COM
merCial, agricultural. industrial, tinan.
cial and political interests OF this coun.
try, and that persistence must be met
with equal perseverance in tho cause Of
sound doctrine. | an the moro pleased
to be speaking here because West Vir-
GINA and Western Pennsylvania have
go much in common in their commerce,
Industries, and even in their natural
surroundings, that they should have
community OF thought on so seriou. I
subject.
ut ia unfortunate that partisan poll.
tics and patriotism can hardly DO re-
carded as synonymous terms. Il is 10
be regretted that this matter mas often
in the pas! been made 4 Question OF
partisan politics, On SO simple q o ues-
ton OF business honesty, it would be
tho greatest misfortune that party lines
should be drawn, and there 10 much en-
couragement in the fact that, %independ-
ont OF partisan affiliations, the mos, con.
spicuous leaders OF America arc uniting
to uphold the true and dcmolish the
false.
WHAT MAKES soUSD MONEY?
There are many essential qualifica-
tions for sound money, but the most
important ia. that it shall DO univer-
sally acceptable. and the elementary
requirement for universal acceptability
ID ixity and stability OF value. 1t has
been aptly said that tho standard
money OF the world obtains its value
and its use from causes ovor which no
government exercises control 1t is
that form OF money which, when paid
20 the laborer, will buy for him to-day,
and will always buy for him at his home
or IN any other place TO which he may
carry or eend it. tho labor OF others
equal In value with his own labor, which
he gave for tho money no received.
This is the only form Of standard money
that honesty and intelligence can per
nit to be used?
without dolving too deeply into the
rndincnls OF economics. it will be
enough 10 romind you that moneys
main uscs are .hrcefold, as follows:
"First-ha n medium OF eNch angc.
"SeCond-Aa a measure OF value.
"Th!rd-As n bnsis for credit trausac-
tions.
Taking these in order, it 10 evident
that a medium OF exchange must DO
universally acceptable. and have tix;ty
OF value. In these days. when no coun-
Try can live to itself alone: whom swift
vessels traverse every HoR; when cleo
trio cables girdlc tho earth and tho ulti.
mate destiny OF n nation depends upon
10 tulScSh no u COli pcLltOT lOE Lno tTaUe
Of tho world, none can afford 10 make
payments in any money that lacks per.
inannnco OF value, in auy medium OF
exchange which ID not acceptable to tho
majority OF governments.
STABILITY a REQUISITE.
again, when trado has intricate ram.
iiications heretofore undrcamcd Of in
their %cxtont. tho simplicity and useful.
mesa OF money canno fail to DO serious.
y reduced, if it be such rs to lack B,a.
biIity as a measure OF value.
"Ot all these considerations, the mos.
important Is found in regarding tho
functions OF money as n standard OF do.
lcrrod payments; when civilization has
brought trade to so high n state thnt
Rctunl money only figures in D por cont
oil tho transactions in our principal cit.
los, whilo remaining 05 per cont is con.
Quoted on II complex svs.om OF credits,
it il mnniEostly i%udigpu,GbIe thu, tho