The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1895-12-15
FOR q u, i, I SOUND MONEY.
;;E.L-Et:Y\ \; STRONG ARGUMENT
FOR 100 CENT DOLLARS.

FOR 4 100 CENT DOLLARS.
I SVs .t'Twice Failed TO Establish, Timetable
ssSs Cnrrcnoy When tho Metals We're Eonr
IsS5ss Each other In yniue--httcmrt at Treo
Ssa Coinage Now Would Result In Silver
SssS Menonetalllsm and In Great Financial
Distress.
||5 President Cleveland, in his message
4 Eo congress, reviews ut considerable
h length tho history Of our 9reenbaclis,
i Ehe great need Of retiring them aud tho
urgent need Of changes in orr banking
5hnd currency laws to give us sufli
y Ecient, safe and elastic currency. His
= Recommendations aSree substantially
1 mot only will, those of Secretary Carlisle
4 land Comptroller Ecklcs, but with those
lcf many eminent authorities on this
d subject. They should be, and we hope
ihave been, read by all good and pntri.
fotio citizens. We. however, propose now
Ito call removed attention to his excel
Ilent discusson Of the FREQ coinage qucs-
ltion. 1t is ono of the most convincing
i arguments ever made against cheap sill
q tNCT u1llukS. 10 " DciON eilo
4 greater part of this discussion:
While have endcRvored to make a
plain statement OF the disordered condi-
kion Of our currency and the present.
dangers menacing our prosperity, and
Ito suggest n way which leads TO q safer
financial system, I have constantly had
Eip mind the faot that many Of my conn
|trymen, whose sincerity do not doubt,
insist that the cure for tho ills now
{ Threatening us may be found in tho sin.
lyle and simple remedy OF tho free coin
luge Of silver.
! We're there infinitely stronger reasons
than cnn be adduced for hoping that
Isuch action would secure for us BIZ
metallic currency moving Oh lines of
parity, nh experiment so novel md llaz-
|ardous rs that proposed might well stag
Iger those who believe that stability is
ian MISREPRESENTATION of souud money
4 No government, no human contri-
Vance or act of legislation, has over been
liable to hold tho two metals together in
free coinage ut ratio nppreciahly off
lferent from that which is established il
THE markets of the world.
4 Those Wholbelieve thnt our indopend.
lent free coinhge of silver nj All artil-
lcial ratio with gold Of 10 to would re-
|store the parity between the metals, and
consequently between the coins. oppose
lnn unsupported and improbable theory
Ito tho general belief and practices Of
lother nations, and to the teaching Of the
lwiscst statesmen aud economists of the
world, both in tho past aud present.
g,,N
Irun counter to our own actual expert
4 Iences.
Twice in orr enrlier history our law
lmakers i'll attempting to establish q hi.
slmetnllic currency undertook free coin
( laEe upon ratio which accidentally va
Tried from the actual relative values Of
the two metals not more than per
( cent. IN both cases, Notwithstanding
jgreater difficulties and cost of transnor.
,tation than now exist, tho coins, whose
I intrinsic worth was undervalncd III the
ratio, gradually End surely Disappeared
from our circulation and went to othal
countries where their roal valuo was
better recognized
Acts of congress were impotcnt tc
4 lcreato equality where natural causes do.
INASSo oNSh q SiiShe iHtHuUitN.
Twice i'll our recent history we have
lsignally failed to raise by legislation
the value of silver. Underu an act of con
lgress passed. in 1878 tho government
Twas required for more thnn - years tc
Iexpend annually at least SCI, 900, 900 in
tho purchase of silver bullion for coin
!nge. The act Of July Id, 1890, in still
holder effort increased tho amount of
!silycr the government was compelled tc
purchase, and forced it to become the
buyer annually Of $1,000, 900 ounces, OF
practically the entire product Of our
mines. Under both laws silver rapidly
and steadily declined i'll value Tho
prophecy and the expressed hope and ex-
Epectation of those in the congress who
led in the passage Of the last mentioned
Iact, that itwould re-establish and main.
tain the former parity between the two
metals, are still fresh i'll our memory.
In the light OF theac experiences,
(which accord with tho experiences OF
other nations, there is certainly no Sc.
cure ground for tho belief that an act OF
congress conld now bridge an inequality
Iof 90 per cent between gold aud silver
at our present ratio, nor is there the
least possibility that our country, which
has less than one seventh of tie silver
money in the world, could by its action