The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-05-18

ptiSo VI ail our products advances.
When a great government like tho
United Statos says, Hero are equal
changes. 10 for !, gold for silver tho
mon q France 10 not going to. part with
his silver for gold, unless ho gets that
much for 1t.
Our trade with foreign nations 1, only
! pcr cont OF our business and our do.
mostlc business 10 SO per cent Of oil our
business. Which do YOU want logis.
lated In the interest Of. tho 90 per cent,
or tho 4 per cent? II a commercial
parity at IL to canuot be obtained,
then do as our foreiathors did, change
tho ratio, and make tho change In the
weight and size Of the gold coins. It Is
question OF English policy or m
American policy. Which shall 1t be?
rRor. LAuGuLlN's REpLy.
Prof. Laughlin replying for tho mega
tive, said:
"fhcrc Is no more essential necd OF
an Increased amount OF measure with
which to compare goods than there ia or
should be number OF yard sticks equal
to the number OF yards Of cloths in
store.
"What 10 important to the point 10,
that goods when expressed In torms OF
common dcnominator OF value arc to-
day exchanged In enormous quantities
mainly without the use Of any money.
Tho necessity OF an increasing quantity
OF money is growing less important
with tho development OF this system OF
changes.
"More so.callcd redemption money
by the amount OF 81, ,092, 900. .000is 10 OK
istcnce to-day as compared with 1875,
and yet prices have fallen aud silver
ha, fallen still more.
prices unmistakably have fallen bo-
cause OF the cheapened cost OF produc-
tion. Since We undertook the purchase
OF silver in 1878 it has fallen about one.
half In value, although We have pur-
chased about S500, 900, 900.
"Free coinage Of silver at l6 to l
means the single silver standard OF sill.
yer tnouo-metallism. To-day tho mar.
ket ratio between gold and silver 10
nearly "a to l. Ii We had the free coin.
age OF silver at l6 to there would be
tho premium Of about sixteen ounces
OF sill rpr as a premium on withdrawing
every ounce OF gold coin in circulation.
WHAT FREE COINAGE WOULD no.
40 adopt free coinage OF silver at l6
TO when the narke! ratio 10 abou: 81
to |, would mean the instant retirement
from circulation OF nearly 5000, 900, 900 OF
gold circulation. II could not change
prices. therefore, merely BY increaIius
tho amount OF the medium OF exchange.
The way 1t would act, however, would
be 10 change the prices OF everything.
because reckoned in cheaper medium
than that OF gold. For example, 4 pair
OF gloves now worth 100 cents In gold.
would exchange for about - 10 cent, in
silver. A dozen OF eggs now selliug ut Is
cents would sell for apou. 80 cents, and
everything we buy would raise in pro-
portion.
"As free coinage OF silver would ipev.
itably result in 4 rise OF prices, 40 it
would Immediately result in fall OF
wages. Its drst effect would be TO di-
ninish the purchasing power Of all our
wages. The man who gets $500 or 81 600
ayear as fixed rate Of wages or salary
will find he can buy just as much now.
Are we willing to sacrifice the inter-
eats Of. the laboriug class to the de-
mands Of certain owners OF silver minos,
who are trying to hoodwink the people
with the cry OF more money?
Were FREQ coinage OF silver to be
passed /. would mean that every de.
positor in saving, bank, oyery in.
vestor in a loan association. ever holder
OF life insurance, every recipient OF
pension would have their dues reduced
one-half. II is possible that there 10
something behind this free coinage
scheme not really discovered"
WHAT CAUSED THE PAsIc.
Free coinage. he said, would bo legal.
lied fraud. 1t would give the sanction
Of the government to cheating.
Tho Sherman &C. OF July i, 1890, uu.
less repealed, would have brought Us 10
tho single silver standard, 40 it was the
mere suspicion OF silver nouo.m etallism
and the change OF prices aud OF our
standard OF measure struck blow at
the 'olidity OF our international trade,
brought on the panic, made prices un.
certain and caused doubt a, to future
plans in every factory and shop in tho
land. --s--a...
Extraordinary as is the proposal for
FREQ coinage, it is in truth only huge
disease. 1: was born in tho private
Offices OF the silver kings, nursed At the
hands OF spectators, clothed in eco.
nomic error, fed on boodle and ~ sure
as there is honesty aud truth in tho
American heart 1t will die young and be
buried in tho samc ignominous grave
wherein lies tho now forgotten infant
once famous rs tho raw baby"
Contrary 10. expectation, the time
alter tho main addresses was not occu.
pied fully by Mr.. Harvey. Instead, /.
was agreed that he DO accorded fifteen
minutes; then Laughlin 10 reply in III.
teen minutes and Harvey TO conclude in
five minutes. As result the finish was
largely taken up with good.naturcd
chatting OF each other, ra.hor than seri-
ous argument.
a WOiiLD GlIsDLEtt
Who Is to Mako tho Trip Ia Sluoty Dnys on
Wager.
SAN Francisco, May 7.-C. L and