Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-12-04
AGAINST FREE SILVER.
The Tauacies Of the Silver Contention
Clearly Demonstrated and the Evil Re
suits Which Wouid Follow Its IntroCue'
ton Pointed Out.

The Fallaoies Of the Silver Contention
Clearly Demonstrated and the Evil Re
suits Which Would Follow ITS IntroCue'
ton Pointed Out.
1t is neither unfair nor unjust TO
charge q large share Of our present
financial perpleXities and dangers to
the operation Of the laws of 1873 and
1890, compelling the purchase Of silver
by the government, which not only
furnished a new treasury obligation
upon which it's gold could be with
drawn, but so increased the fear of an
overwhelming food of silver and q
forced descent to silver payments that
even the repeal OF these laws did not
entirely cure the evil Of their exist
ence
While I have eDdeavored to make q
plain statement Of the discrdered con-
dition Of our currency, and the pres
ent dangers menacing our prosperity,
and to suggest a way which leads to a
safer financial system, I have con-
stantly had in mind the fact that
many Of my CCuntTymen, whose sin
cerity I do not doubt, insist that the
cure for the Ills now threatening us
may be found in the single and simple
remedy of the
FREE COINAGE OF SILVER.
They contend that our minis shall
at once be thrown open to the free,
unlimited and Independent coinage Of
both gold and silver dollars Of full
legal tender quality, regardless of the
action Of any other government, and
in full view Of the fact that the ratio
between the metals which they sug-
gest calls for one hundred cents worth
Of gold in the gold dollar at the pres
ent standard. and only fifty cents in
intrinsic worth Of silver In the silver
dollar. We're there infinitely stronger
reasons than can be adduced for hop
ing that such action would secure for
rs q bimetallic currency moving on
lines of parity, an experiment so novel
and hazardous as that proposed might
well staeger those who believe that
stability is an imperative condition of
sound money.
No government, no human contriv-
ance or act Of legislation has ever been
able to hold the two metals together
in free coinage at q ratio appreciably
different from that which is establish
ed in the markets of the world
Those who believe that our indie
pendent free coinage Of silver at the
artificial ratio with gold Of 16 to l
would restore the parity between the
metals. and consequently between the
coins, oppose an unsupported and i'm
probe theory to the general belief and
practice Of other nations and to the
teaching OF the economists Of the world.
both in the past and present, and what
proves more conclusive, they run coun-
ter to our own actual experiences.
Twice in our earlier history our law
makers in attempting TO establish
A BIdETALLIC CURRENCY
undertook free coinage upon a ratio
which accidentally varied from the
actual relative values OF the two met
ais not more than three per cent. In
both cases, notwithstanding greater
difficulties and cost of transportation
than now exist, the coin whose intrin-
sic worth was underyalued in the "a
ito. gradually and surely disappeared
from our circulation and went to other
countries where their real value was
better recognized. Acts Of Congress
were fmDotent to create equality where
natural causes decTeed even q slight
inequality. Twice in our recent his
tory We have signally failed TO raise by
legislation the value o. silver. Under
an e Of Congress, passed in 1873. the
government was required for more
than twelve years TO expend annually
at least $24,OOO,OO0 in the purchase Of