Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-12-04

v,
creased the amount Of silver the gov
eminent was compelled 10 purchase
end forced il to become the buyer a.
nually of 100000 ounces or practl-
cally the entire product Of our mines,
Under both laws silver rapidly and
steadily declined in value. The proph-
ecy and the expressed hope and expee-
tation of those in the Congress VINO
led in the passage of the last mention
cd act that it would re-eStablish and
maintain the former parity between
the two metals are still fresh in our
memory.
In the light Of these experiences,
which accord with the experiences Of
other nations, there is certainly ~
secure ground for the belief tA2t an act
OF Congress could new bridge an Inc
quality OF 50 per cent. between goid and
silver az our present ratio, nor IS cnere
tAe least possibility that our country,
which has less than One-seVenth OF the
silver money in the world, could by us
action alone raise net only our own, our
sN silver 80 its lCSc ratio %-oh gold.
Our attempt TO accomplish this by the
free coinage of silver at a ratio differing
widely from real relative values, Woald
be the signal for The complies Gepai ture
Of gold from cur circulation, tha tmme-
dia.e and large contraction OF our cir
culating medium. and shrlnkege N
the real value and monetary efficiency
Of eil o1her forms OF currency as they
Sc ..ed 10 the level Of silver monomeoal-
ism. Every one who receives a fixed
sslary and every worker for wages
would find the dollar n his hand ruth
lessly scaled down to .he point OF Dit
ter Disappointment, If not
TO PINCHING FRIVATION.
A change in our standard TO silver
recommendation would also bring on
COLLAPSE Of the entire system OF credit
when, when based Cn % standard
which is recognized and adopted Dy he
world Of business, is many times more
potent and useful than the entire vol
ume of currency and is safely capable
Of almost indefinite expansion 10 meet
the growth Of trade and enterprise. III
self invited struggle, through dark
ness and uncertainty, our numiA&J.on
would De increased by .le consciousnesl5
that we had panied company win all
the enlightenment and progressive "a
tons Of the world and were desperately
and hope,essly striving 10 meet the
steps Of modern commerce and comPe-
tfion with a debased and unsuitable
currency, and in association Wiel inc
few weak and laggard nations which
have silver alone as their standard OF
value. All history warns us against
rash experiments which threaten Yio-
lent changes in our monetary standard
and the degradation of our currency.
The past is full of lessons teaching
not only the economic dangers but the.
national immortality chat follows in the
train Of such experiments. VII mt
believe that American people can be
persuaded, after sober elaboration, to
ieoDardize their nations prestige and
proud standing by encouraging imam
cal nostrums. nor that they viii yield
10 the false alluremeuts of cheap money
VIXEN they realize thar II must result
IN the weakening Of that financial in
tegrity and rect.5ude which thus far in
cur history has been so devOtedly cher
'ehr1 gs one Of the traits CT true
Americanism.
OUR COUNTRY'S INDEBTEDNESS,
whether ewing by the government or
existing between individuals, has been
contacted with reference 10 our present
standard. To decree by act Of Congress
tha. these d BITS shall be paid in less
value dollars than those within the con-
formulation and intention &C The parties
when contracted, would operate 10
transfer by the fiat Of law and Without
compens3t0u, an amount OF property
and a volume CT rights and interests
a1mcst incalcu'able. Those VINO advo-
cote 2 blind and headl0ng plunge 10
free coinage. with the name Of bimetal-
Ism. and protesting the belief contrary
to all experience, that we could thus es-
tabl.sh a double standard and concur
rent circulation Of both metals IN our
coinage. are certainly reckoning from a
cloudy standpoint Our present stand
ard cf value in the standard Of the civ
ilized world. and permits the only BIZ
metall,sm now possible, or at least the
only one lha. is within the independent
reach Of any single nation, however
powerful TINT nation may be. While
the value OF gold as a standard is stead
led by almost universal commercial and
business use. Il does not despise silver
nor seek EtS Punishment Wherever
tb's standard is maintained there is at
fsq eide. In free and unouestioned circu-
ls:;ion a volume Of silver currency
sometimes even exceeding II in amount;
both maintained al parity nctWlth-
standing depreciation or fmctuation
in the intrinsic value Of silver.
There f. q vast difference between
standard Of value and a currency for
monetary use. The standard must ne
cessarily be fixed and certain. The cur
rencv may be IN divers forms and OF
various kinds. No silver standard
country has a gold currency in circula-
tim but an enlightened and wise sys-
TEN of finance seucres the benefits OF
beth gold and silver as currency and
circulating medium by keeping the
standard sable and all other currency
at par with it. Such a system and sucn
4 standard also give free scope for the
use and expansion CT safe and conserve
tive credit. so indisper sable 10 broad
and growing commercial transactions,
and 50 well substituted for the actual
use Of money.
If Q fixed and stable standard is main
tanned such as the magnitude and safety
Of our
COMMERCIAL TRANSACTIONS
and business require the use Of money
Itself Is conveninely minimiZed Every
dollar Of fixed and stable value has
through the agency OF confident credit
an Astonishing capacity Of multiplying
itself n financial work. Every unstable
and fuctuating dollar fails as bass OF