The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-05-21

an or roneous principle aud u iRlso rs.
sumption Of facts.
10 assert that prices arc fixed by tho
amount OF redemption money alone Ia
equivalent to tho assertion that III NIL
tho silver dollars, subsidiary silver Coin,
silver certificates, United States noloS.
treasury notes, national bank notes. aud
other form OF credit were destroyed,
leaving nothing but the gold, prices
would remain the same rs they now are
"A proposition so prcpbstcrous upon
Ito lace that l prcsnmO no man with
any regard for his reputation would
venture TO make 1t except in disguised
form.
THE COMMON PEOPLE HAVE so SILVER
BULLION.
Tho great majority OF our people
render service for wages In ono form or
another and they arc compelled TO pur.
chase In tho markets everything they
cat, drink or wear, and In most case,
they are compelled TO pay rent for the
uso Of q homo for themselves and their
families. Like tho farmers. thoy have
nc silver bullion to carry to the minis
TO DO coined at the public exponse I;
they have nothing TO dipose OF but their
labor aud their skill, but m a general
rule all, or substantially all, tho wages
they receive must DO used in procuring
| commodities for tho personal use OF
themselves and those dependent upon
them. They cannot cat, drink or wear
the money paid 10 them for their labor,
aud 1t is valuable 10 them only because
they can exchange 1t Tor tho npccssarles
and comforts OF life; and there never
was n time in tho history OF tho world
whom the workingman's dollar would
buy as much OF the n%ccGssarics and
comforts OF litc rs It will buy now, aud
there never was 4 time in the history Of
the world when the workingman re-
ceiyed so many good dollars for the
anne amount Of labor than he receives
o in this country. Any policy which
reduces tho value OF this dollar OIL the
day it 10 earned or on tho day It is OK.
pended, BY diminishing It's purchasing
power in the markets, has precisely the
came effect upon the holder MS If the
amount paid for his labor we've reduced.
II, therefore, the iavorite' argument OF
the advocates OF iroe ~coinage-that the
FREQ coinage OF silver Mt tho ratio OF l6
to ! would double the prices OF all pro.
ducts-is correct, the wages OF the
laboring man would purchase under
that aystem only one.half what they
purchase now. This would undoubtedly
be the case unless wages should also
be doubled, which, according 10 the
,pit0rnl aNnartnnna ~ thA ,Nnak =
most improbable thing. For more than
a quarter OF a century the working peo-
pie Of the United States have struggled
earnestly and persistenily, through
their labor organizations and other
wise, TO increase their wages 10 q point
which would enable them TO live de-
Gently and comfortably by expanding
their earnings for commodities at their
present prices. and how long do you
think they would have 10 struggle in
the future to raise their wages TO n
point which would enable them 10 pur-
cha'e the same articles when their
prices have been doubled? No man in
this audience will live to see such n
result accomplished. and the laboring
man who supports tho free coinage OF
deprecated silver dollars must be con.
tent to live and support his family
upon what deprecated silver dollars
will buy. My position upon this SUBJ
iect ls that when the laborer receives n
dollar OH account OF his wages he has n
right to be assured tia. il will purchase
as much in the market rs any other
name dollar. or il he desires 10 lay i,
up for use in n time OF need he has q
right to be assured that it will be worth
as much when he wants to spenl it rs it
wasiworth on the day he earned it.
CAST MAXI TEN CENTS \ DOLLAR.
But. gentlemen, the free aud unlimit-
ed coinage oil silver would not secure for
the uso oi the people at any time any
addition to their stock OF actual money,
but would simply give them less valua-
bic money than they have nov. To call a
ten.cent piece adollar and declare it to be
tho standard oil value would add nothing
whatever TO its purchasing power; it
would still take ten OF thUn to purchase
what n real dollar will purchase now,
and prices OF commodities expressed in
dollars would appear to have been in.
creased ten-fold. when, in TACT, nothing
would have happened except the dc.
basement OF tho dollar. An actual in-
crease in prices resulting from an in
crease in the volume OF sound money in
circulation is quite a different thing
from anominal increase OF prices result
ing from the use OF n deprecated cur.
rcncy, and no argument on the subject
OF prices can. DO sound that docs not
recognize the distinction between them.
The proposition oil our free.coinacc
friends is to double prices nominaliv,
but nj the same time to have them paid
in money intrinsically worth only one
half as much ms it was before tho prices
were doubled, and | confess my inability
to SEQ how this would help anybody.
Tho secretary closed with an expla-
nation OF his record on the silver cues.
ton. In tho only speech Ito over mado
on the subject in Congress no found
"the limited coinage OF silver dollar ON
government account, not on account OF
private individuals and corporations as
Is now proposed. Fifteen years expe.
%rlencc, howovor, demonstrated tim,
those oil us who believed in 1878 that n
larger usc OF silver by the United State,
would enhance its price or value wore
mistakcn.' He complained that this
speech had been rarblod for a purnose.
Nervous ruuplu
And those, who arc all tried ont and
lnvD TINT tirnI fonlipy - . ,;,I. ll