The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1895-06-28

SaS$4NF wants SCUM i
G1Hg nlE money. From
2EN6 Mr.. Cleveland
Ak down, Very
~ X MOI speaker, writer
NhN or thinker IN
A&,lSN t h e f e | d of
SlzSNSWU finance declares
sfS that he m u t
Is hay e sound
money or his happiness will take
wings and fly away forever. The
only question of what constitutes
sound money. If that question
could be settled to the satisfac-
tion of all we should be a pros.
porous and united people.
This is the trouble, however.
Men cannot agree. The advocate
of free silver coinage ayers that
silver is sound money because it
carries its own value and redemp-
ton along with 1t because it
possesses intrinsic worth of its
its own and does not need to be
exchanged into something else
in order to vindicate itself. The
gold monometallist, retorts by
saving that silver is fraud. be
cause the dollar of that metal is
worth intrinsically only 80 cents
in London because its value as
100 cents is, to the extent of one
half, tictictious. And then he
goes out somewhere and hides
himself and bowls over the dis.
nal prospect of a world in which
5O-cent dollars prevail, and
wonders how people can be SO
wicked as to countenance it. OF
course, these two cannot agree.
The gold man vows, promises,
and swears that the gold dollar
is the only dollarworth mention
Ing. He admits that there is not
gold enough to go around for
every day purposes of trade, but
declares that paper money, re
deemable in gold only, is the one
admissible substitute. Silver he
rejects as base and vicious, and
altogether unacceptable. The
chasm, as you will perceive, is
not to be bridged or any terms.
We must use gold or paper re-
deemable in gold if we would
please the monometallists, and
We must coin silver unreserved-
lyif we would please the other
fellows. And, in either event,
We are going to the devil in a
hand basket, according to one
side or the other.
There is just one proposition
Of the gold men to which'the sill
yer men cannot quite reconcile
themselves. They SEQ that silver,
il we should want to sell it in
London is worth only fifty cents
on the dollar, and they give due
weight to that consideration.
What they donot see is the means
BY which all our paper money,
bonds. Treasury and national
bank notes, certificates, and so
forth, is to be converted into
gold, and why, if it cannot be so
converted, it should be regarded
as better, sounder, and more vir.
tuous than silver. If gold is to
be the medium of ultimate re.
demption, then there should
be gold enough to redeem
ourpaper or the paper is COM
paratively "'unsound." For ex.
ample, the Comptroller of the
Currency tells MS that on the Sd
Of October, 1898, there were in
the national banks of this coun-
Try 81, 45l, 124, $50 of individual
deposits, Suppose that, on the
I'm OF October, these deposits
We're drawn out and the money
paper of course) presented for
redemption in gold. Could it have
been redeemed? Against the
vast sum of their liabilities to
aepositors the national banks
neld in actual gold coin only
a2s, 19o,43 The difference to
De paid out in notes, certificate,
&C.. would have been $l,391, 1888,
w. Where was the gold to meet
~ y In one of his speeches at the
south Mr.. Carlisle stated that
mere is in this country $685., 900,