The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1896-08-28

dollar In gold. making The ro.< Of ths
VAT. according to Hon. John T.. Jones:
the great silver leader. fifteen h1Adrsd
millions more than Il should have been;
ON aeeodnt o. Il tiaetnatins rrehry.
Il y estimates that our pHop,s owe
four or 1--WE thousan u mi Hons x dollars
| IN obligations and bonds the principal
and Interest OF which me payable In
gold. This principal and Iint srst would
have to be paid In gpld. while earnings
from business would be paid in depre-
eiated silver They would have to earn
In fact two dollars where they now earn
one. N order To- meet the prtnciphl and
Interest Of their bonds and obliSa lions.
The result would be that the persons
or corporations Issuing these bonds
would fall ana go into bankruptcy. and
the owners being often widow. orphans
what they could get for them
Another Eject Of the Proposed Free
Coinage Of Silver Would besto
Defeat international
Agreement
HI Free and Unlimited Coinage would
defeat the chances for an agreement
|between the nations Of Europe and the
United States ooking the larger use
of silver. II the United States should
have the free and unlimited coinage Of
silver u s1e 10 4 the resilt would be
that the nations Of Europe would at
once bring their surplus silver, now
worth So cents on the dollar to orr
nints and have II coined into legal ten-
der dollars eq'ta1 10 gold dollar m
this why they would BEL rid Of the ST.
yer question OBJ Eoo| terms na iof'S as
we tridd 10 1Jed tn. silver dollar sauai
10 = gold dollar and 1t our exrense, 4
/ syosid Cause Loss 81 Half the Earn.
inss on Deposit In Swing Banks, etc.
The people Of lie United States have
| ON deposit about I'VE thousand millions
l:of dollars Ii banks, trust companies,
building associations and like institu-
tons. The life Insurance policies in
force day amount TO about ten thous-
and million dollars The free and I'M
limited coinage Of legal tender silver
money at the ratio Of 1910 / would an
Ithorize the great corporations owing
these yasts amounts to the people to
pay the same In dollars worth 50 cents.
Here would be a loss of seven thousand
million dollars to the people. Yet the
new Democracy claim toibe the friends
of the poorer classes.
Losses to the Government by the Pur-
chase Of Silver.
In order to sustain silver and satisfy
the silver interests, the government
has not only coined $500, 000, 900 Of sill
yer since 1873, the date Of the so-called
decentralization act, but has actually
bought silver bullion on its own ac-
count to the amount Of more than $780,
900 900. The following table shows the
amount purchased, amount coined and
the loss to the government. which has
been $40 sS7, 900.
IA Total sotnnpc OF silver dollars un.
der act OF February 2S lSs.... =. .S37S, 1i8 sI3
9 Totai cost OF silver bullion used in
coinage ,........ .4........lsi n. 3D6, $40 e6i
SeiEaiorage. or apparent profit Of IT,. ees''As
eoiuags ii present 81 n,arsst price 1885 sc7.ess
s DInefulce tctween actual cost and
bullion value Mt present market
q price. ....,s... l.2,U1i,VI2
ii isios clsst !. h Z -, 1ssss1,o os
ssss Sisss s, sss s
This shows that on the coined value
the government has an apparent profit
of SCI. S07, 900 Under purchases OF the
Bland Allison Act OF: 1878, but on these
purchases the actual depreciation has
been more than S122, 900 900, and on the
silver purchased under the Sherman
Act Of 1890, the depreciation has been
SIS, 900, 900, showing a total deprecia-
ton up to 1894, Of s170,000,000. This
loss should be sufficient to let silver
alone and take care Of itself, in the flu
ture. It is the peoples loss and the
owners Of silver that sold 1t to the gov
eminent made this vast profit. II we
should have the free aud unlimited
coinage Of silver at 16 to this loss
would increase.
TO Pay OF Debts Contracted in Good
Money in Deprecated Currency
Would be Reputation.
To pay off debts contracted on a
sound money basis in deprecated cur
rency is reputation and confiscation;
to make obligations in good money or
to borrow good money and then get an
Act Of Congress authorizing these obi
cations to be paid In silver worth only
fifty cents on the dollar, or in iron worth
one cent on the dollar, would be plain
robbery. Such an act of injustice,
wrong and outrage, though sanctioned
by law, could not last. The principles
OF eternal Justice cry out against 1t. II
a hard working, thrifty man should
save up $500 or ST. 900 and loan it to his
neighbor to help him along, should he
not be paid hack in money equal In
value to that he loaned?
The Act Of 1873.
The three points made by the fret
silver advocates and the Democratic
platform against the socallcd demone-
ltization act Of 1873 are: t1st.) That 1t
was surreptit iusly passed through Com
gress without the Knowledge Of the
American people and for certain self
FISH ends and sntrp poses t2nd. that it
lstrpcl down md made;u seless hall ths
money In the ipited sAtates and whore