Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1896-06-27
Silver at Chicago.

The Republican leaders, dominated
by Eastern influence. have undertaken
to force this country to the single gofu
standard. This means reducing all
property. except debts, to half its value,
if measured by both metals. 1t is I'M
portant at this juncture, to get clear
cut views on crucial points. Silver is
right and certain to win unless irrele-
want questions distract public attention
from certain fundamental propositions.
A gold basis reduces the value OF all
property except debts.
Values measured by the amount oil
both metals are double what they VIII
be if measured by god only. If deotS
and taxes be reduced, then reducing
property would not work much hard-
ship. But TO reduce properly and not
debts will cause untold suffering.
If the indebtedness of eacn commun-
ity was held at home, the communltE,
REGARDED as a whole, is not injures
when individuals must part with twice
as much property TO pay an oDllgatloh'
Il debts are held at home, what one
loses another in the Sa ne community
gains. But it is entirely different when
debts are held abroad. 4 gold basis
neans that the West and South must
part with twice as mucn value 70 ray
the debts held in Ike East. Railroad
and public bonds are as effective as II
each individual had gwen mortgage
for his proportion Of principal ana in
terest. To reduc, the value OF lad
half is TO double the deb, on 1t.
RESTORE ThB UNIT OF VALUE.
In 1892 Congress said that our uniy
of value should be 81 grains of silver,
and baptized this unit "a dollar" Hav-
ing adopted this unit, Congress re-
I Quired that a gold coin should contain
as many grains as would make its value
equal to 81 grains OF silver. Congress
! contemplated that the number of grains
Of gold would be%changed as often as
the commercial ratio OF The metals
varied. They never expected to al,er
the unit Of value.
In 1892 it required 24.7 grains of gold
10 equal in value S71.25 grains of silver;
this was Is to l. In 1894 silver APP
preciated, and Congress reduced the
gold dollar to 29.2 grains; this was l6
TO l. The unit of value (371.25 grains Of
silver remained unchanged; the gold
coin was reduced to make its value the
same as the unit of measure.
If the commercial ratio of to-day is
80 10 l, then Congress should put only
half as many grains in gold dollar.
Prior to 1873 our unit of value was,
81 grains of silver Congress changed
the unit to 1872 grains of gold. They
not only changed the unit. but prohibit
ed the coinage of silver. In other
words, redemption money was limited
to gold only.
Bimetallists insists that the former
unit be restored and that both metals be
| coined. We insist that every 81
| grains of silver coming to the mint lie
coined into a dollar. and that al the
gold offered be coined at whatever ratio
will make a dollar expressed in gold of
/ the same commercial value as 81 grains
of silver. We insist on coming both
metals; the Republican party proposes
to coin gold only
A future paper, pointing out that
10000 600 OF silver has been coined
within twenty years, will expose the
| sophiStry that we have been on gold
basis.
Our next paper will show that bimet-
allie circulation is not essential to hi
| metallism.
An overwhelming majority want both
metals coined. No thoughtful man
wants Is to /. or any other ratiO.of coin
age which will give dollars of unequal
commercial value. The fight at Chi
cago will be on restoring 81 grains of
silver as our unit OF value A future
paper will show that if this country Is
forced to a gold basis, every financial
institution must go into liquidation.
J. M. MASON
Charles Town, W Va, June "a, 1896
a -, ~