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

free and unllmiied coinage Of BON K ~.
win only bring ~ cheaper metal "a Nv.
mint ana Eill leave the more valuable metal
A iittle while ago / said. .No government,
with the possible exception OF The ststs-
composing the Latlh Inlou. ms fht,r ~ !.
been able q main;aln lIiSlt ana Roid N
any great length Of time
The Latin Union uRN orgnnlsed In 1ses
between Trance. ttniy, Belgium ana 'svftr.
eriand. They were blmetailic countries ana
entered Into an agreement In that year ~
by which the amount Of silver 20 Dc coiaeti
each year was nxed for each member Of HE
Union. The coins were al like Character n
weight and fneneas. They werc 10 Ia ~
cetved Throughout the Onion without dis-
elimination. both on public and private nc-
count. Greece Joined the Union In 1865.
Within the limits Of that Union there was.
from 1865 TO 1874, that h for nine year.
practical lnterehanee Of gold ana silver coins
and practical use OF gold and silver upon 4
parity 1t the fxed rltio Of II 10 1. You win
note that there was no free and unlimited
coinage. Son will note that each country
was restricted a to the amount Of silver
1t could coin. You viii note that there was
elective international agreement between
these nations. and now, mark this addi.
tlonal fnct: These nations found that In the
civilized world they could mot keep any ad-
ditional silver coins atioat, and 80 even they
stopped the coinage Of silver In 1874. There
never was free and unlimited coinage with
In the Latin Union. For q years there has
been NO coinage except Of subsidiary coin
to take the place Of that which had been
abraded and worn cut.
II there be any Argument to be derived
from the practice and experience of the
Latin Union 1t Is that International agree.
ment alone can make the coinage Of silver
8nfe or effective.
There ID today no such actual thing as
free md Unlimited coinage Of both gold and
silver In any nation ln the word. put thIs
statement In another form. Gold circuiates
as money nowhere In this world whore there
is free and unlimited silver coinage. Where
there is free and unlimited silver coinage
gold is simply q commodity and 10 sold at
Its bullion value. Its price rises as the val
ne OF silver dlminishes. Its price rises as
the confidence OF the people In paper dimin.
ishes. In other words, gold II fact. Paper
money Is nat. Gold gets Its value from the
desire OF the people to have It and Is worth
what the people viii pay for It They will
pay for 1t what 1t Is worth to them. and no
matter what law Jon may make. gold will
buy as much silver as the people Of the world
think II Is worth. Gold viii buy as much
paper money ~ the people think the paper
money worth. There Il no intrinsic value
In paper except the material OF which It
ID composed, and that Is precisely the fact
with regard TO gold. II IL precisely the fact
with regard to silver. Paper being made Of
wood pulp Is now very cheap. When you
PRINT It into money y gets Just such y ratss
of the government that prints II No more.
no less, and that honor and good faith are
hnally measured By actual redemption In
coin and By nothing else.
These United States printed the conti-
mental currency and PAID that currency out
a. the price OF this nations liberty. We
did not redeem It, and that continental cur.
II IL tbe snsts m ~ nst,onsi ds.hanor'
The F.orsh NAM ~ rcEv nr,nsaS ne 1ohn
Iaw cnrrs, ~, IN ITon bbrnts n. nron,ise
ana ~ nv ~ thst c,,,,.scv n tnSay n ~.
,snen y = @ny M s.ass ~ ptspcn pa ,.,
nsavy anu nunnsini iAisenoog. ~ onis
Ns n.,l as curlos,y Or as puiy.
me french republic printed the as,s,lgnats
or fulnlied its promise and that paper cur.
rcncy V only badge OF french republican
ialsenoon ana - Of no value except ~
euTr,ho a Ss, q pup; ,..a ,,,,,,o,.
OF paper money redeemable 81 ana we've
nouns AFTER tne acEnoMieogment OF tne
me- 1rM,oepenaenes oh the Conieaer1te statee'
I, aass n haS never Deen maze ne
confederate currency is only memory of
brave enort IN an unfortunate ana mlsguiu.
ca cause and has no value except as curiosity
% VIZ Rsi Raye afoat. s4s millions Of greenback
legal tender notes. We have also about Us
millions OF treasury legal tender notes Issued
mat we might give niyef more arnnclai
value: we pougnt great quanuues OF silver.
we did Tor silver all that the most generous
friends OF silver ought 20 have done and
more than wise men should have done. We
spent our money; the nation aia not sue
could not DO. the nation neither did 90 nor
couia 90. We thus nave ahoat nearly 40
mliIions OF legal tender paper. OF TINS
a I'M Nearly NY fniilions We're issuca 70
put Gown reneliion ana save the nauon.
More tnan I'D millions were issued 20 put
GOWN goid and save silver. we did put
apwn tue rebellion; We DID save the naton
THESE were within the nnS4I1iIftiAa nl hill