Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1895-10-19
THE SILVER QUESTION.

THE SILVER QUESTION.
Some DeniaIs and a General Reply to
rIr. dosorn's Queries.
TO the Editor ofihc Herald.
will not attempt to answer Mr..
Gosorn in detail for the reason that
in his article several points are very
irrational as view by one who is a
convert to the principles in general
IS recommended by the Populist party.
| do, however, take the liberty of
expressing myself for the reason that
he in his communication, calls our
friends demagogues and false reas-
oners. sophists, ETC., for his declara-
tions fail to prove an alibi to what We
claim is the true cause of the low val
ues of the products of the farm. In
answer to his third query: The objec-
ton to increasing the silver dollars
in weight and size to its present COM
mercial value, is that it would be
more bulky and heavier to handle,
Second, it would cause a loss to the
government and all holders of silver
dollars of the difference between their
commercial and monetary values.
Third, there is no rule that know of
by which the commercial value of
commodity can be arbitrarily fixed.
1t does appear TO me that we might
as well claim a commodity valuation
for the paper upon which our long
time honored greenback or Treasury
notes issued. without the exception
clause, have at all times stood par
with gold and today are the only me
diums by which the unpatriotic aud
disloyal class of our citizens invade
the sanctuary of our Treasury for no
other purpose than to educate the
masses to the belief that the credit of
our government is in danger.
What, sir, can be more practically
demonstrative than the fact of their
drawing the gold from the Treasury
and sending it to foreign countries
which action will eventually exhaust
our holdings of it and at the same
time claiming it, the gold, as the
only medium by which we are 10
measure values. To my mind it is
absolutely irreconcilable. This con-
dition continued sets very bad pre-
cedent. AS the standard ofmeasuring
values is decreased in volume, so like
wise must the articles to be measured
by 1t he increased in volume accord
ing to the generally accepted theory
Of supply and demand governing their
exchange.
In query II, "Why is it that some
three hundred millions of coined sill
yer dollars are suffered to lie idle in
the United States Treasury instead of
being circulated amongst the people,
Who shall we accept as authority
upon this subject? You, sir, or the
Secretary Of the Treasury of the Unit
ed States f? In consulting the report
of the Secretary of the Treasury of the
first of October, 1895, I find that
holdings of the same is in standard
silver dollars, 368, I42,7 o2, and in the
same report I find S33o,434,S37, as
construed by said report, are in circu-
lation, represented by silver certi6-
Gates. Therefore less than thirty
eight millions of dollars are idle in
the Treasury.
Query IS: Cannot any man get the
money now for all he has to sell?"
Yes, on very low basis to the farm
er. Remember am talking for him.
Apples at 20 cents per bushel, corn
rs cents, wheat 55cents, wool scents.
These prices are a matter of re-
corded history and are an apparent
verifcation of the point suggested in
answer to the last clause of query 3.
In the inquirer's questions, he CON
veys the impression of accepting
gold as the standard money regulat-
ing the silver and paper issues backed
by the credit of the government.
This, to some extent, is a departure
from the standard money advocates,
as rule gold alone being the factor
of redemption. No money, as | I'M
derstand the question, can be held as
a redemption fund-honestly and
rightfully held for that-and be in
circulation at the same time. Hence,
to the extent held as a redemption
fund it is practically out of circula-
ton.
In answer to query Fl, | say no.
The prophetic reasoning of the advo-
Gates of the repeal of the Sherman
law has been SO fully and positively
refuted, by the events of the changed
conditions Of values since its passage,
to lower degree, that the surprise is
that intelligent and honest men pre-
tend to refer to it as a measure of ben
eft to the farmers of the United
States. fail to find any record of
the passage Of said law even appreci-
atiug the value of silver, which seems
to dispose of the question Of the bull
ion or farm products appreciation in
value under its repeal.
Has the repeal of the Sherman law
increased the circulation of money in
proportion of the increase of popula-
ton or commerce of cur nation9 If
not in conjunction with the above
statements, what benefits have ac-
! 1 . ~ 1