Ceredo advance. [volume] (Ceredo, W. Va.) 1885-1939, 1896-08-19
Mr.. Managers Speech, Which
Is Right?

would with this issue discuss the
speech made by the above named
gentleman. We regret exceedingly
that there was no short hand report
of the speech in order that not one
of his arguments would be missed.
If We do neglect any we would
be thankful to anyone to remind us
of it and give us the argument we
omit.
As an introduction he solemnly
declared this was TO be a campaign
of education, in which the people
were to gain wisdom. That ga lit
tie knowledge was dangerous
things" that the people had plenty
of knowledge but needed wisdom;
hence he proposed first TO glance at
"history" and see what is had TO
show regarding the use of both gold
and silver as standards af value as
money.
We agree fully with all the above
Introduction and go him several bet
ter. We believe in gaining wisdom
and hold that there Is only one way
of gaining it and that is, through
thorough knowledge of both sides of
any question. We do not believe
an education is worth much that on
ly teaches that mushrooms are good
to eat without teaching us that there
are many kinds of them all deadly
poison except one, and fails to tell
us how TO know that one when we
see 1t. This latter fact we will try
to teach in so far as history has to
bear on the silver question. First
let us determine on a definition Of
of the term "history." This is an
account of facts or events, especial
ly in the life Developments of men
and nations, in the order in which they
happened, with their causes and eff
fects. Starting then TO inquire as
to the history of gold AMI silver cir
culating side by side under free and
unlimited coinage together, or any
other two metals, ut fixed ratio n
money, we will go a little farther
back then he did in the worlds his
tory; we will go back to the middle
OF the 18th century, when Nicholas
Oresme, the father Of finance in
France, announced as the result of
the thorough study of the science of
money, to Charles 9Th the following
law.
First. "That the sovereign can in
no case fix the value or purchasing
power of the coins"
Second, THAT the legal ratio Of
the coins must strictly conform to
the relative market value of the me
tails"
Third. THAT, if, the fixed legal
ratio of the coins differ from the ma
tural or market ratio or value of the
metals, the coin which il undcr-ra;-
ed disappears entirely from circula-
tion and the coin which is over
rated alone remains current"
100 years after this Copernicus, the
founder of modern astronomy and
one of the profound students of the
world announced this same law to the
Prussians, and thirty two years lat
or Sir Thomas Gresham announced
1T TO Queen Elizabeth, and it is now
known as Gresham's Law. This
same law is still in operation all
over the world and is just as forceful
as when Oresme promulgated it.
Now see what history says to
prove the force of this natural law
in the attempts to use both metals
as standards of value at fixed ratio
or proportion of weight, or as it is
called having bi-metallism. England
tried it for 40 years and failed to
overcome this law. France chang
ed the ratio of coinage lis times in
IL years in her efforts, and our own
country has had two ratios. The
European countries with the might
of their sovereign power we're not
able to make the two coins circulate
sideby side even after having laid
heavy fines upon any one who should
either melt up the coin of dearer and
better metal or send tout of the coun-
try. This falling to keep it going
| hand in hand, sentence of death was
pronounced for the above offenses
and people were executed for it, and
still the more valuable coin disau-