West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1896-05-07

1
tcaS it demonotiSed ? What reason,
what necessity was there for it?
There was none-it was done for a
wicked purpose, aud was not the
result OF mistake or oversight; il
was u crime against the people of
the United States then, and time
does not sSnctfy crime: it is
crime 70 day. There is not gold
enough to do the business Of this
country-not onothird enough.
Added TO that fact. gold is not
adapted TO the purposes and func.
tions OF u circulating medium
never was and never will be. Its
denominations are too large, and
its softnVss entails coo much loss by
abrasion. IL Is more of "dress
parade" money. But gold is all
right have no objection to gold.
wish we had great deal more of
it. But what | do object to, is the
attempt to make dollar Of gold
perform the functions of two or
three dollars of money, by reducing
the price OF everything it measures
exactly in the same ratio.
But my article has been extended
far beyond my original purpose al
ready, and find myself still only
ou the threshold.
| favor the restoration OF silver.
because our experience as people,
proves that the double standard is
wise and safe policy. Our expe.
rlence proves that the double stand
ard can be easily and safely main-
tanned. | am in favor OF it, be-
cause no opponent has yet shown
that this country ever suffered any
calamity from its use or it's free
coinage. | favor it because be-
lieve IL to be the time honored pol
icy of the Democratic party. /
favor its restoration because | be
lievo its disfranchisement was
crime, and | believe it is the duty,
and ought to be the mission OF tho
Democratic party TO right the wrong
thus perpetrated against the people
Of this country.
A word or two more as to why
oppose the gold standard, in addi-
ton to what / have said, and / will
closo this article. | will ask this
question of my Democratic friends
who differ wi b me. Have you ever
seriously considered what the inevi.
table result of the policy of gold
monometalsm will be, and what
you will be called upon in the end
20 endorse and approve? In en-
deayoring TO answer the above ques
ton for you, 1 will give YOU what
Is my most serious objection TO that
system. 1t is admitted, as / have
several times intimated, that there
is not enough gold, nor half enough,
70 do the business of this great and
growing cOuutry-aDd that it must
be supplemented by some character
of paper money (no other metallic
money! redeemable IN gold. What
kind of money shall that be ? Well,
not greonbacks, not treasury notes,
because you know that one feature
of the plan as outlined, is to call IN
and cancel the greenbacks. and
treasury notes, and all forms of
government paper money, because
they are redeemable IN gold, and
therefore constitute tho "endless
chain" that causes so much trouble
about the reserve" In other
words. as has been said by high
authority, "the government 90 out
Of the banking business" Where
then is the supplementary paper
money TO come from, which with
the gold, is to constitute the circu-
lating medium Of this country
the paper money redeemable in gold2
WhoroY Why, manifestly from the
national banks, that "banK' on
bonds-on the debts OF the country.
These national bank notes are of
course to be "good as gold"-"rc.
deemable IN gold"-can't be as
good as gold, unless redeemable in
gold, at tho pleasure Of the holder.
What about the "endless chain"
then? What about the gold re-
serve" then ? What about the bond
issues and sales then What about
the "bank panics" then?
Now i ask Won. my Democratic