Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-08-26

annually to the volume of our "redemp-
ton money Ii th.s automatic ratio be
adopted, the silver mines will add an
other S35000000 The quantity of our
redemption money VIII then increase
as -laannual outputs of both silver and
sod mines are added TO the supply of
precious metals: whereas the gold mono
me-allS-s wish % limit the increase Of
me supply cf redemption money to the
amour, of only The production of gold.
+ ne gold mOnCue eta lists do not propose
TO- coin any more silver: whereas bimet-
a.Ests propose 20 coin all of both metals
/ but at such ratio as WIZ keep the bullion
/ IN silver dollar equal 10 the bullion in
o gold dollar.
To decrease the volume OF redamp-
I ton money is to increase the purchas-
ing power of the dollar.
The word exchange bility' must not
De conf0unded with the phrase re-
damption money Prior to 1873 both
metals were redemption money, viz:
all credits We're payable III either silver
I or sold III we had never had any pa-
/ per money the phrase redemption
| money would never have been heard
or "EXchanse3bility' means that the
government VIII always be ready TO
exchange gold dollar for q silver del,
/ lar or silver dollar for q sold dollar.
This proposition. ii adopted wiu un.
/ oou5tedly coin an of both metals, and
teJ Keep ,he bullion value OF the silver
I dollar equal to the bullion value eff q
I gold dollar. AS there viii always be
I gold dollar 90 offset every silver dOl-
| lar the government may maintain CN-
/ changeability and yet coin an Unlim-
tied amount of both metals
It Will be objected
Eirst-That il viii be costly to
/ promptly coin many dollars varying
slightly In size. Reply. A paper cer-
\ uucate may be issued eXchauSellle for
/ q dollar of the size fixed by inc radio
I at it's date, or. the capacity OF the mint
/ may De Increased. Where there lis
/ Wli there is a way.
Sec0ul-Tbat sold viii leave us to
/ pay interest on i0re gn-beld bonds.
! Reply. The gold monometaiists do not
/ attempt Jo explain how or WAY hoy
/ COtiug silver checks the outflow of
| sold. To has not done so. Belmont
\ sale of government bonds. supplements
I cd ay Norsaus sale of railroad scuuri-
/ Ties. created temporary balance in
our favor, bu, fl is only temporary.
/ our foreign debt was increased Si00.>
/ 100000 without increasing orr ability
/ 90 pay Not q penny of this money
\ was used To- make blade OF grass
/ groW where none grew before. We
/ simply borrowed 90 pay interest. and
/ are worse of than we We're. It makes
/ sensible men sea-sicE TO hear he pratt
I t.e about gold leaving because bimet-
allism lis threatened. No scheme of
/ finance VIII keep gold at home SO long
! as We owe more interest than our eX,
/ ports sell for. Wise men see now what
fools will see presently. Shouting
confidence, confidence" is whistline in
/ The dark. The remedy is TO shrink
railroad and other watcred securities
I until they are on q sound basis di-
| VOrce railroad management from stock
| speculation, let the government quit
| banking. and permit State banks. But
| this is branch of the discussion which
requires aseparGJe paper.
Third Prices have already become
| adjusted TO q gold standard and Uimet-
aiiism would Unsettle business. Re-
ply. The word "dollar" has been "ad-
/ jusJed' TO mean twice as much props
erty but it has not been adjusted TO
mean half as much debt. Probably 80
| per cent of the securities on which the
West and South are paying interest
are held i'm England and the North
/ eastern States. Hence. England and
the Northeast profit by this ADJUST
ment To- q gold standard: hence the
| Northeast oppose bimetallism. State
/ banks and AN income tax. Prices are
/ adjusted 10 gold standard and the
\ value of fixed incomes doubled
j. NJ MASON.
/ Charles Town w Va Aueust 20