Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-05-21
CARLISLE On FREE silver.
CONTINUED from First Paec.l

standard worth only half as much as
the money he borrowed or the prop
erty he purchased he would appreci-
ate and endorse this argument and 1T
would be useless to discuss the ques-
ton with him. Every depositor in the
savings and other banks fearing that
he would be paid in deprecated sill
yer. would demand his money and this
would compel the banks to call at once
for the payment of all the notes and
other securities which they had dis
counted for their customers, and the
contraction of the currency would cause
an increased demand fer currency at
the very time when it could not be
obtained. Ire banks would be COM
PEELED to either suspend payments
themselves or drive their customers,
who are generally business men-the
men who give employment to labor in
every COMMUNICATIVE bankruptcy at
once. Who would profit by this con-
dition Of affairs? Nobody except the
holders Of gold and the owners Of sill
YER mines. the holders Of silver bull
lion and the brokers and spectators in
the stocks OF silver mining companies.
The people who owe debts and are un-
able to pay them would be the ones TO
suffer most, while the people who owe
no debts and have money on hand
would be
TIRE ONE TO PROFIT MOST.
In this crash the laborer would be
thrown ont Of employment by the fail
ure or suspension Of his employer, the
farmer would receive less real money
for his products. property would be
sold at low rates under judicial pro-
ceedings all over the country. credit
would be destroyed and all industrial
and commercial enterprises would
stand still awaiting the result of the
new experiment with the monetary
system.
But, suppose the change is made, and
that the business affairs of the cOun-
try have been adjusted to the new
standard, what viii be the effect of our
domestic trade? The prices Of all
things will be nominally increased
that is to say, it will require more dol
lars to- buy any commodity than before.
There appears to be a singular delusi0n
I'm the minds Of some upon this subject.
Many good people appear TO think that
In some mysterious manner. which no
one has yet attempted to explain, the
government. by legislation or other
wise can increase the prices of The
things they have to sell without in
creasing the prices of the things they
have to buy. The plain, everyday.
common-sense view of this subject is
the only correct one. If prices are in
creased On account Of an increase in
the volume of circulation, or depreci-
alton of currency without change in
the relation between the supply and
demand Of the commodities to be eX-
changed. the increase in prices will af-
feet all alike. If the farmer receives
more dollars for his crop he viii pay q
corosDOndingly greater number OF dol
lars for his implements, groceries,
clothing, and everything he purchases.
Consequently if he now makes profit
Of ten per cent he will make profit O.
no more He cannot control the COM
modities to the same extent that other
producers can control the prices of
theirs. and it may be that the prices
of the things he is compelled to buy
viii be increased in much greater pro-
portion than then prices Of the things
he has TO sell. and if so, he will be
loser instead Of O. gamer by the change.
tt is contendCd that prices have fallen
since 1873 and that this reduction has
made il more difficult TO pay debts