Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1895-09-27
GlARlNe FAuLAcle3,
Crude and Unsouni Views yron, Il Bound
Money State.

Money State.
Senator William IT, Chandler of New
Hampshire declares himself IA stoad.
f;tstly opposed to the gold standard and
i'll favor OF freq coinage under I'M inter.
national agreement ut u ratio of 15l5
or l6 to |. Iii letter in which ho dc.
fines his position ho says, "That man
knows nothing who will deny that il
both censod TO DO money metals an ounce
of silver would be worth us much us
onc-sixteonth of an ounce of gold ~
Senator Chandler differs from tho Other
silvcritcs only III believing that tho
United States cannot alone mako tho
| value of 1G oiiiIces of silver worth ono
of gold, but in other respects ho holds
pll tho false doctrines of tho cheap dol
lar school. His views as to the origin of
the value Of gold and silver aro exactly
those of tho fiat money advocates when
no says, 1T is tho uso Uf the two gold
and silver us money metals that gives
each all of its value worth considering ="
Thnt such glaring fullacics should DO
beloved ~ Il senator FROM n state which
has always favored sound money is al
indication of the popular confusion It's to
the real nature of value. Senator. Chan
dior would Indignantly deny that no
wished to aid in tho population of
debts or to establish tho silver standard
instead of gol,l But his arguments AFRO
exactly tho Same us those on which the
Populists base thoir schemes for cheat
ing creditors and tlcbasng tho standard
of value.
The bold assertion that if both met
ais ceased to be used us money q oul.c,s
of silver would bo worth one of geld is
purely gucs;SwOrlt ON tho part of Senator
Chnndlcr, and has no support III past
history or present conditions. If what
ho sayo were truo thcro must havo been
established by nature Is fixed ratio DO
tween silver and gold. Such II SUPPOSE
tion is nonsense. as nature has no moro
TO do with ratios than with the number
nj buttons on Il coat. Since gold is now
worth 32 times as much us silver, it
would seem that to deprive them of
their uso as money would affect both
alike Senator Chandler thinks that tho
result would DO To decrease tho valuo of
gold twice as much as of silver, but Of
trrs no proof that such would be the
case.
Tho theory that it is tho use Of gold
and silver as money which gives them
nearly all their valuo is another fiat
money fallacy, tho source of tho green
back dclusion. Tho facts arc Just the ro-
verso of what Senator Chandler says.
Instead of being valuable because thoy
arc used for money, gold and silver are
used for money because they arc valua-
bio rs metals. Before either was used
us Il measure Of Value gold and silver
had valuo Of their own and would
continue 10 no valuable if their use as
money entirely ceased. OF this there
tan Inc no question:. since i'll countries
which have no metallic money these
metals have Il commercial value, which
i'll tho c'so of gold is equal To its coin
ago value. If Senator Chandler were
light gold and silver would he prncti-
cllly worthless i'll countries which did
not coin those metals into money.
There arc other equally grave blum
dcrs i'll Senator Chandeliers profession of
financial faith, but tho ahovo will he
sufficient to show that no is IN unsafe
leader for Americans who want IL sound
currency and nn honest dollar.