Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1896-07-04
Reply to Nr. Kincaid.
To the Editor of the Register.

1t is not my purpose 70 enter into a
newspaper argumen, with any one on
the money question, because, like
great many others, l know very little,
If anything. about it. Ii is a science
which [ have not studied. Il is no de-
rOgation OF the Intelligence Of any man
90 make such a confession OF ignorance.
II is no dcrOgation of the ability OF Mr..
Kncaid 10 say that | do not understand
all be says in his reply 10 my article OF
June 27th. One Of the criticisms l have
20 make 20 his reply in the Register Of
July LIST. is tina, his statements are be-
widening Ny reason for bringing
forward Mr.. NcCleary's speech in sup
port of the pres NJ standard is because
ir was fun OF just such information as
the people wanted 10 know. AID he Is
81 clear and logical withal that all who
recd can understand, and therefore I
propose 90 stick 20 Mr.. McCieary. /
ann very much OF ,he same mind with
eth Idiot in Bangs Coffee and Re-
rfrtee.~ when asked 10 he knew any
...7g about CHE book Robert Elsmere,
replied. NO. 60 came out about the
same time as Pigs In Glover, and 1
stuck 10 the pigs FL could under
Stand "P.gs 'u Clover" but he could not
understand Che menp physical specula-
t0-s abou p bert Elsmere.
The silver mine owners and
their eudO-.ers mind me very
much of the people at the
dime Christ fsd -he great multitude
with tle Cess barley l0aves and fishes.
Tney wanted t0 make Him their king.
Tr.r sara among do mselyes, here Is
o. man ttat can feed an OF Us by work
.re miracles. Any man who can feed
i've thousand people with so little food
g. The ca. 10 reign over Us. We won't
I'd tO work any more The silver
men are after the "lOayes and fishes
and 10 silver viii give II them they
would make IL tseir king. ar. Kin
c1id asserts that silver has been de
monetizel." Mr.. McCleary claims that
.t has not been "demonetized.' The
silver men claim that "One-half of our
money has been struck down mean
ing tina. silver as a money OF final re-
demD,ion has been reduced to a posi-
ton Of token money. Let us see what
Mr.. McCicary says about this.
MONEY OF FINAL REDEMPTION"
The advocates of silver free coin
age have a great deal to say about
primary money" ultimate money"
and money of final redemption" by
all of which terms they mean the same
thing. Let us briefly consider these eX-
pressions. In a monetary sense, re-
demption is final when the man in pos
session of the money, or about TO re-
ceive it. has or gets the kind Of money
he prefers. To illustrate: Ii YOU have
five cents coming TO you in change, and
can have it in gold, silver or nickel,
which Will you take? Gold in such
case is out of the question, the piece
would be so small as to be hardly visi-
bic. and it would require too much care
20 prevent losing IT, And so, in a less
degree. with silver Your choice and
mine. and everyOne's, would be nickel
Up to five cents, then. nickel is money
OF final redemption. How about TWEEN
ty-hve cents If you were offered five
nickels n change, would you accept
them withou. protest? Probably So
But we are plainly reaching the sum
where. if compelled by necessity to ac-
cep. nickels. YOU would avail yourself
of the first good opportunity to convert
til m into a more convenient form Of
money. To review: Up to five cents
nickel is the money of final redemption;
that is. no desire is felt TO exchange it
for (or have it redeemed in any
other form OF money. But at twenty
five cents. it is simply money Of final
refemption: one will accept it wiling
~ and hold it until used TO buy some
thing. And beyond that sum we soon
reach a point where nickel will not be
willingly accepted. and if accepted from
necessity it will at the frs. oppOrtun-
ity be changed into (be redeemed by
q more convenient form Of money.
Following a similar Investigation as
to silver. we shall find that il is the
preferred money in sums ranging from
about. say twenty-five cents up to, say,
five dollars. Within those limits We
prefer it TO any other form of metallic
that is within these limits we
make no effort to exchange it for (haye
il redeemed" in) any other money. In
other words, up to five dollars silver is
primary money both in law and in fact
Suppose. however. that you had hum
drci dollars coming to YOU, say at
bank in payment of a check, would you
like 10 have a hundred dollars in silver
counted out to you? The most ardent
free silverite would resent an attempt
of the bank 10 make such payment.
The law of the land authorizes it, for
silver dollars are legal tender to any