Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-05-15

III STEER Question.

Senator Allison, OF Iowa, in a recent
speech 10 his own State, called attention to
one matter which is generally lost sight of
by the advocates of free silver. He said
"The amount Of silver in circulation in
1894 in Europe, where a gold standard has
taken the place Of a double standard, is ST.
355. 900. 600, and there is now in circulation
in the United States 1925, 600, 600, while ia
1873 we had not a cent. Aad still they
claim we demonetized silver. How can we
demonetize silver when we put it in %cireu!a.
ton to that extent ia twenty-five years, aud
this silver passes current with gold?
Under the present laws We are coming no
silver, or rather buying no silver for coinage.
But gold and silver dollars circulate togeth-
er on an exact equality. This is because
the silver coins we have are convertible into
gold, as is also the paper money. Thegor-
ernment has been able to do this despite the
great difference between the bullion or real
value of the silver dollar and the gold dol
lar, because the amount Of silver foated as
coins is limited in It's amount Free silver
coinage means the removal of all limits and
the pouring of hundreds if not thousands
of millions of silver bullion from all over
the world into our minis and the parity"
of gold and silver on the present ratio could
not be maintained. 1t would break the
government. The gold would leave the
country, for all duties would be paid in sill.
yer and all taxes, while our balances with
other nations would have to be settled in
gold. and they would not take our silver ex-
cept at fifty cents on the dollar. The result
needs no argument. This country would
come a. once to a silver basis. The prices
of everything would still be measured by
the gold standard of the worlds markets
aud consequently would enormously advance
as measured by silver. But no one could
get hold OF a dollar any other way than now
by giving work or its equivalent for it
A dollar Of wages under free coinage of sill
yer would not buy what it does now, for the
wage dollar now is a gold one equal to gold
in purchasing powerl. Free coinage of sill
yer means that our whole commercial and
financial interests are to go on a silver basis.
This means that the laboring man and all
wage earners will see their dollars shrink in
purchasing power. The only ones benefited
would be the owners Of silver bullion, who
have now a restricted market for it. 1t
would increase interest, charges, rents, tax
es and cost of living, What the producer
would gain in increased prices he would lose
in increased cost Of living. "More money"
in the country would do no one good unless
he could earn more money. "Money" can
only be gotten by giving an equivalent.
The business interests of the country are
now staggering upward again and the return
to prosperity is to be retarded or helped just
in proportion to the good sense and saving
grace of the people. If business and com
mercial interests are to be made the toy Of
politics, and demagoguery is to take the
place Of patriotism, the trials we have pass
ed through the past two years will not
equal the terrible reactions and panics of
the future. If ever business men were call.
ed upon to step to the front in party coun-
ellis and to exert their influence for sound
financial policies now is the time. The great
American people mean we'll and will do well
if they are fully Informed. Let reason and
not d~emagoguery have q show and let the
people reason together without passion or
prejudice and right principles will prevail.
-Sate Journal.