Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-08-14

she gave last week. 4nousu ga --,s,,~
complain much of the cool season .HI"tt-
frp fbafr custom. Vet TO an on!ouAeI ~
seems that great crowds are tll' 80 ~
al the resorts Especially is inns ll"S "a
Asbury Park and ATLANTIC 5S,rtTIr
liRS. d, Z. S'll j L.
Is pI-METALISlI PRACTICADLEF
To the Editor Of the Register.
Charles Town, ". Va, August Z
THE combined government OF the
world could not keep the TWO meld's on
a parity az any ratio dneren, rom IN w
..ario between the output Of sold ana sill
YER mines The silyer.teS lns-st lhaI
production IN the future will be II lAs
same proportion as in the past. IAeE
NAV b7 mistaken. We cannot FISK the
production Of silver increasing gore
rsD,d'v than that of gold. The fatal ) D.
lection 70 the sixteen to O.e theory is
Char IL The silver output exceeds sixteen
times the god output there Will be mora
silver fhan sold dollars. and exchange
ability cannot be maintained.
If the government should not at
tempt to- keep silver bullion on a parity
with gold bullion, then the free coinage
OF both metals on any fixed ratio must
be abandoned. But 20 abandon free
coinage. al sixteen 10 one. does not nee
essarily mean 10 continue boycottlng
silver. The government may bind itself
10 coin an equivalent" Of silver when
ever tt coins one grain Of gold. Cur
proDcsition is. 20 change the size Of the
dollar as often rs the proportion changes
between the output OF the TWO metals.
We accept the proposition that the bull
lion in Q silver dollar must be as val
liable as that In a gold dollar; but we
propose 90 coin at q flexible ratio which,
working automatically. will vary as the
production OF the mines vary. Our pro-
position is that the quantity OF bullion
In silver dollar shall depend on the
relative amounts of the two metals Of
fered a- the mint during. say. twelve
months. II during 1886, the metals are
offered I'm the prooC-i0n OF Jh.rty-twO 10
one then that will De the ratio for the
year: if during 1897. they are offered in
The proportion Of fifteen 20 Cle then
that viii be the ratio for the year. The
method viii be very simple: Let the
government issue It's certificate 10 a man
bringing silver. reciung the number Of
ounces and that he IS entitled 10 have
the same coined into dollars az such
ratio rs shall be fixed by the relative
amounts oil two metals brought 20 the
mint during the following months. Sup
pose the gold brought 20 the mint in any
wear Yields 100000. then the amount
Of silver brought 10 the mint, be il
much or little, shall be coined into $50
100000 Then there will always be as
many gold dollars as silver dollars, and
10 viii be safe for the government 10
agree 20 always exchange one for the
Other. IF eXciangeability is maintained
one VIII De rs valuable as the other the.|
world over. EXchangeability may be
maintained forever, if there IS always q
gold coin TO Offset every silver coin.
The gold mines add. say $50 coo. 900
annually 20 the value of cur redemp-
ton money but if this automatic ratio
De adCp-5d silver mines Will add an
0-her $4,000 000 Our redemption
money VIII then increase as the annual
outputs OF beth silver and gold mines
are added 20 the supply OF precious
mo ais, whereas the gold bugs wish 70
limit the increase Of redemption mon
ey To- the amsunt OF gid which may
De produced. The gold bugs do not
propose 20 coin any more silver; where
rs the bimetalliss propose to coin al!
of 5C.h metals. but at such ratio as
win keep the bullion in a silver dollar
equal to The bullion IN a gold dollar
The word, "eXchangeabili.y.' must
no- DE coniCunded with the phrase "ra-
dCmpti0n money" Prior 10 1873 both
metals were redemption money" viz
all credits were payable either in sill
yer or gold. III We had never had any
paper money. The phrase redemption
money would have never been heard
Of "Exchangeabil!,y' means that the
government agrees to be always ready
% exchange sold dollar for a silver
dollar.
IL viii be objected that this system I
may give us Two sorts of silver dollars
one larger than the other. This objec-
Jio1 win be answered presently; our Oh
jec, now is % show that 10 IS pactica-
BILE 10 coin ell Of both metals. and yet
maintain the silver dollar equal to the
gold dollar.
Sixteen 70 one is already defeated
IF a vote should be taken between gold
m0nCuatall .Sm and free coinage AT six
teen 10 one silver VIII be bea.en, and !.
ought 20 be beaten. But an over
whe.m.ng majority are i'm favor Of hon
SET bime.allsm, and. if silver is sagac-
i0us. b viii force a vote between an au-
tomato ratio and gold mOnOmetallism.
On This issue silver will win. II can
not win on sixteen 10 one.
J. N. MASON.