Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1895-03-07
FALSE FRIENDS OF BI-METALLIsM.

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No one has yet been so bold as to
declare himself in favor of single
silver standard, for that would lead
to contraction-as great as that which
is complained of under our present
gold standard. Bi-metallism--the
use OF both gold and silver as stand
ard MONEYS the only way to increase
materially the monetary basis. Its
most ardent advocates admit, too, that
if bi-metalhsm in the United States
alone would be good thing, inter
national bi-metallism would be bet
ter.
As for the nations of Europe, the
slavish submission of the masses to
their hereditary rulers and the Jew
money-sharks who make puppets OF
them is only equalled by the blind
ness of these rulers to all but their
immediate qualification and pleasure.
They will never consent to a change
in the present system, unless it can be
shown that they will reap some pres
emf benefit from it or avoid some i'm
mediate loss, They seem now to have
scented some such immediate advan-
tage.
The governments Of Europe seem
lately to have been struck with con-
sternation at the steady fall In the
value of silver. This threatens loss
to them in two ways. First, they have
large stocks Of silver coin on hand
which is steadily depIeciating, and
second, they have an enormous trade
with the silver-standard countries OF
the East, whose ~fuctuating currency
threatens loss or ruin to merchants
trading with them from gold-standard
countries Obviously there are but
tvs remedies either to do something
that will rehabilitate silver and make
silver money as valuable as gold, OF
else to get rid of all their silver and
supply its place with gold, using moth
ing else henceforth. The first of these
is international bi-metallism; the sec.
ond is-bi-meta5hSm IN the Uniteo
States alone.
Down to 1878 we had free coinage
of both gold and silver at such ratio
that the silver dollar was intrinsically
worth little more than the gold dol
lar. What was the result? The cur
rent coinage of silver soon practically
ceased that which was from time tc
time put out was boarded or exported,
principally the latter and, as is we'll
known, we had no silver in circulation
If we undertake free coinage now at g
ratio which makes the gold dollar In
trinsically worth more than the silver
dollar, a similar result must follow
but this time it will be the gold dollar
that leaves the circulation. 1t vii
be exported, and so will fill up the
circulation of the gold-standard Euro,
pean countries while they unload theil
silver on us. When we have nothing
but silver in circulation, we will be
on single silver standard in effect
no matter what we may call it. The
threatened scarcity of gold in Europe
which is the chief factor in favor O
bi-metallism-will have been averteC
by our own action, and then goodbye
to bi-metallism; it will have persisted
off the face Of the earth.
A movement is now on foot to com
NIT the Democratic party to champion
the free coinage of silver at the pres
ent ratio, regardless Of the action o
other nations. Our object in the fore
going paragraphs is to show-as We
conscientiously believe-that the sue
cess Of such a measure would be thu
death-blow to bi-metallism. 1t woult
furnish Europe at once new supply
of gold and a dumping ground for he
deprecated silver. The outlook to
wards practical scheme of interna
tional bi-metallism, as we have point
ed out, is brighter now than it ha
ever been. The recent silver circula
issued by Western Democrats in Con
gress has at once obscured the view
and by endorsing it the party vii
effectually bar the way which it pro
fesses to point out and to urge us t
follow.
We publish elsewhere cOmmuni
cation from our friend P. w. Morri