Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1896-09-18

= -&1ncs tn oosn th. ss,ats of the Country
tn rt,ta afss,,ta

- l2sscs Tn Oosu RI. ss,ats of the Country
to Both Metals.
An editorial writer iu tho New Yorl:
san has bumped n very thick head
against an argument made by Hon.
Charles r. Crisp in Georgia ia favor Of
the free coinage of silver Judge c ism
had referred to the disappearance Of
gold from our circulation under the
act OF 17es AID Of silver under the act
~ lS3i by reference to the conflicting
StioS I'm this country and France The
rsiio OF the French mint kept the com
,nc<cial values of the two metals prac-
tically steady ut the valuation fixed
b. law But when two nations coin
freely at different ratios both ratios,
or course, cannot control, and each
metal will seek the country whose law
gives il the higher valuation. This
wass the substance of Judge Crisp's
argument and the following is the
Suns reply:
Here were two instances in which
the mighty fiat of the United States
CONGRESS, sigDed by the president
couldn't keep gold and silver on a
parity ia value at fixed ratio, or
keep Them both i'm circuln ton. 1t was
recommendation every time Yet the
free silverites, Joined bv Judge Crisp
himself in the close of this identical
speech, plead that the United States
can maintain what they call 'bime tai
lism' by starting alone on free silver
coinage at sixteen To one. We are liv-
ing, we ore moving, in "A grand and aw-
ful time"
II Is plain that che writer of the fore
going did not even diInlv perceive the
meaning of Judge Crisp's argument
aud that he docs not understand the
position OF the t1uetallists or know
what bimetallism means Bimetallism
exists in any country when it's minis
are freely open 20 the coinage of both
zlretals, when it yets tine full benefit OF
both in sustaining and replenishing
She To!uine of its standard money and
wbeu stable radio OF vnlue is main
tatDed between them. Leading and
candid mOHometailists agree that
France by its mint ratio of 15}< to
suNstn-n tiatly controlled the relative
market values of gold and silver up To
1873. When the United States set up a
Jaw, first i'm l792 aud then in 1891, in
conf ct with the French law, ii sim ply
resulted IN this country's exchanging
fsat It's gold for silver aud next its sill
yer for gold. But II got the benefit of
both metals. So hong as il could ex-
change gold for a.silvcr dollar or "A
silver Cor gold dollar both metals
wcDe avaiia bic 10 the full extent for
iseSensing the supply of standard
money. When, for any reason, one
metal. left the country. the other
promptly aswcd I'm and filed the gap
IN our circula ton without causing the
slightcs disturbance. That was bi-
metallism. What arc the conditions
now? There has been for several
years n steady outflow of gold. flour
rnints were open to the coinage of
both metals as before 1873 we could
nuke this good 10y receiving silver in
Sts place; but bein = denied this priv
,ege we must buy back the gold with
bonds. and we have alrca ly issued
S263, 600, 600 of bonds for that purpose.
This is monome tai ism. Monometnl-
lisn restricts n country 10 the use Of
one metal only.
IL il loses that or any considerab BILE
proportion OF IL 10 must 20 without or
bug II back ut IA saosidce. Bimctallism
gives IL the use of both and enables It
when one metal goes abroad TO fill its
place with the other without loss to
the standardization his Commercial
Appeal.