The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-07-23
TH i.|:.,..
Continue, From sl,,h rssE %

Continued From sixth rsEe.
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20 hIa nclshhor to help him niong,
should he hot he pNld baclSln money
4 yuunl In vnluo 10 that he lodnrl?
What ara the facts prior tnhthn pas
s,vr ofrihe muoh- abused and Amuch.
4 misunderstood act OF 1917. when there
was free and unlimited colnHEElor all
YER? ,ldru period OF cighty-NnS years,
\ fr,miIoa to'lSi5, there was Coined only
1 10 millions OF silver OF Nil kinds only
cIchl millions OF which were standard
slycr full lCghl tC,,lCr dOlldrH Under
which act htf silver been hcttor treat
\ ed? In twCnty,ySArs after the passage
VI thu aut OF 1919 there WAS cGlneti about
four times rs much silver Ms litRlCr thu
cIGhty-onc ycQH OF tho act permitting
free and uapG>ltcd coinage, Their. Ia
no inunl1tihn for the claim that gold
has deprecated and property declined
In vaIutowlnS, TO tho acts of lS7SaTherG
has been ZONE decline In theISaMcs of
property owing to false induSlrlnl and
rcOnlIn!c policies pDd tariff fyr l0vcnuC
Il only, but this was not duo to tho So
called decentralization net. The country
\ from 1874 to 1893, II period OF twenty
X years, according to figures heretofore
II cited, made more rapid progress than
4 any nation IN the world. THIS covered
H the period of our greatest progress aud
nrosncrity, as statistics show. This
h could not have occurred II tho so-called
\ characterization act had destroyed bali
4 the money In the country or lessCnpd
the Valae OF property or Injured buSl-
4 ness,
The trouble; Is that silver has In the
\ last thlsty years become too abundant
throughout the world TO justify IT'S free
and unlimited coluIge,5 TlStrc is too
much OF Il. nnu according 10 law that
is irrCvcrsiMc and interchangeable, Its
value has diminished, and Il cannot, by
law. be made equal 10 gold. beyond the
point OF Its being redeemed In gold Dla-
r,ands are very valuable. II thSy'should
become us plentiful as atone. aiclr val
uS would 20 down, ard could not be
held up by q whole book OF laws OF Con-
GvcSS.
The Free Coinngc ofSiivcr.
Because there was once n law OF Com
crcss uutisorizing the free coinage Of
silver at l6 to |. when sixteen ounces
OF silver were equal In value aud some
times worth more than one :Qiince Of
gold, and there was no coinage OF silver,
and no possible harm could; some By
coming It under these conditions. the
new Democratic party nowp demands
4 that,we restore that law, although the
4 conditions have widely changed. Laws
are passed by Congress to inject the
n changing and changed conditions. The
law permitting the coinage ~. silver Mt
ii the ratio OF l6 toll was ,atta time
when sixteen ounces OF silver were
worth one ounce OF gold or TUTc. Now
Il takes thlrty-oae ounces ottsuvcr to
! purchase one ounce OF gold. Congress
y could pass such law aslI1{ :hut the
4 conditions and relative val0SS could
fnot be restored. This is simply beyond
the power OF Congress. J4i
Fl Since 1873 TIE production of silver has
n Increased threc-fold. while gold Tell
off until 1892. but is Increasing now.
Silver in 1872 was worth s$lS2 per
ounce. The bullion value OF silver de-
r c!ined from ciElny-three cents In ISIS
4 10 fifty-n!ne and sixteenth cents In 1898
and lorty-ntnc and onc-tcnth; cents In
1896 No.
1 The attempt 10 maintain. bylaw, the
4 double standard OF value or 60 keep the
legal tender coins of gold and silver in
use as money upon the ratio OF value
y fixed by law has been, whenever at
h tempted. d failure through all history
"A Theevalue of gold and silver depends
upon supply and demand. The supply
4 and demand IS not always the same.
h Their value cannot be regulated by
H law any more than the valu-7ot any
4 other commodities. This !cY7clusion
4 forced itself upon our people hl:orc than
h sixty years ago, and we We're practfc-
4 ally on a gold basis from 1854 TO 1873,
\ although the law authorized the free
| and unlimited coinage OF silver and
\ there was no law declaring a gold dol
I lar to be the unit OF value until 1913.
Senator Stewart, the great Pnpultst
lrade. and free silver advocate not only
n voted for this sn-called drmonetiza-
ion act in 1873, but said in the senate,
F = February. 1874:
II want the standard gold. and no
Flapcr not redeenablc In gold. he
81 He said later on: e
y BY. this process We shall COME to a
spcCin basis, and when the laborinS
|fnln receives a dollar 1t will have the
K purchasing power OF dollar. and he
F lW!l 10; be called upon to do what is
P impossible for him or the producing
HcIasscs to do,~agure up the exchanges.
Figure upon the, fluctuations, figure upon
FL the gambling OF New York; but he
will know what his money Is worth.
4 Gold Is the unlversan standard OF the
Fl world Everybody knows what o dollar
In gold is worth" Il
4 Hon. John P. Jones, now ones of the
n abiest advocates Of free silver In a
y speech made In the seneate, April l.,
n 1874. on .Ae money question, said:."No
nation can be strong and be dishonest"
{ TO nation can be strong and attempt
+ 10 coafiscate the property OF one citizen
and give il 70 another" mo nation can
make money plenty when 1t sayE=to the
cndi.cr who has loaned It. you Shall
4tcceivc back only u portion OF what
n You have loaned in full satisfaction OF
ta. debit
b IN speaking of proper standard OF
values lie said: And what but gol9can
b tc that standard; what other thihc, on
81 sarih possesses the requisite sntLali-
Fl ties" "Gd!d IS the articulation OF COM
MERGE: it Is the most potent agent OF
n civilization" when II IS exclusively
uec4 rs Nancy 4 teaches the vcrSnabit
n Of haa-3!y; Il IeitEec, deals In notlelcr-
- at5S false FrctcNees:jit Keeps Its prom
SOS 10 yi2h and poor alike" 1T Ieilcs
':r. csrrndnE hand * time aud thffric-
IA nnU # The nEeS: 1t Is the cOmm6T-He-
81 H1h!"at1r OF va!lIcs."
81 !: gold Or silver becomes too abund-
a ant their W" ns money should be lin
+ !.!. The supply 0f both metals may be
= io1 great or too. lIElIted. In either
event Congress should take action.
FL TnG! rot favor making gold the stand
+ a-! nf value IL 1t should happen that
X The cujHtity OF EOld was found CON
|A %1E.iy Lim!;Iia!'!DG for 4 long period;
II '":3 would rbt 30 because property
IN you'd dcprrc'1Le and money appreciate.
A l'Ht az long as the supply OF gold Is
"a siaal To the present supply Or incrcas-
4 mr. Is Il Is, md we can make and main
Tain paTg" silver and gold equal. then
IA w GlH N,ilitt.fif. ,Ia,urr m. risk bnvn rrnIJ