Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1896-10-21


ROO, in round numbers, about l9OJO,W0 or
Eold dollars During the same period,
there was of silver of all denominations
total coinage of $40, 000.U5J Cound num-
pliCJp. That is 10 say. ou IL "a icrl1i a
eighty years prior 10 81, there Was or
ed OF gold dollars about three times as
much as of silver. And 20. trc patty Of
the two precious metals, a. a Standard OF
value, remained undisturbebd. In 1874
the free coinage Of silver was practically
discontinued. and about the year 1850 It's
coinage was resumed under the Bland
Allison act. From 1850 TO 1894 Inclusive.
find there was coined in the United States
about 100000 0o0 of gold and $100,0O0,OOO OF
silver coinage value. During the last year
named, 1894, there was more than three
times as much gold received at the mints
as there was OF silver. The ratio OF gold
production is constantly increasing over
that OF silver, the world over from loSV
10 lS+,lnclusiVe, the proportion OF gold III
the world commercial Valuc) was 2r2 Dill
lions, and of silver only a little over bill
lions. And yet you contend that our dan-
ger lies In the direction OF an oVrproduc-
ton of silver. i tell you, Senator. THIS Is
the merest, shallowest preteXt. Inc true
object Of oanishing silver from our mlhts
Is TO diminish the volume of currency, so
that debts may be doubled In weight, and
credits enhanced I'm the same proportion.
This is a deep and dark conspiracy against
the welfare Of the plain people Aou
W.
this conspiracy, against the prosperity or
mankind. When the history of this era
comes to be written. some future Allison
will write you down as IN favor Of 'syste-
matte contraction OF the currency ana
thus aiding and abetting the impoverish-
ment and degradation Of the masses OF the
people The moment YOU struck down sill
YER as money. and dcthroned IL from us
traditional position as precious metal,
that moment II commenced 10 decline.
over production had nothing 10 10 with IT,,
as | have shown. As soon as one OF the
precious metals are over produced, the IN
gcnuity of man is Weakened and he sets
about TO COunteract the evil by discover
ing and utilizing new deposits of the cor
relative precious metal Hence for three
thousand years prior 10 1873 the twin pre-
cious metals of gold and silver performed
their functions as a medium of exchange
or common measure of values as money
and 10 this day would have continued TO
do so. but for the greed and unholY con-
spiracY Of those whom NJ. Carlisle de-
nOunced as the ''mOncy-grabDers' OF the
world. They struck down. as Mr.. Car
Isle says by conspiracy AZ home and
abroad" the money function of silver.
This conspiracy. Senator. IS the cause OF
s!lver's dcprcc.ation-if IL has been depre-
ciated. But when You speak OF the de
cline of silver I'm price. do you not really
mean the appreciation OF gold in price ;
Without dwelling upon this subject. ana
20 show you that l am right. / Will quote
IS
gish leader and statesman, MI Baltour.
MIR. BALFOUR SAYS AGRICULTURE
SUFFERS BECAUSE OF APPRE-
PROBATION OF GOLD.
London. February MIR. Baliour. re-
plying 10 q dIsputation representing aSil-
cultural interests said the government Is
preparing various measures for the relief
of the agricultural classes
He is convinced. he declared. that agrl-
culture suffers doubly owing TO the concl-
tiOu of the currency, and DE believes that
the reduced prices are largely due TO the
artificial appreciation of gold which fol-
lowed the characterization Of silver, and
secondly TO the artificial advantage given
the producer in silver-using countries over
the producers I'm Eold-uslng countries
Your next proposition is: Congress
should limit or suspend coinage OF any
metal when too abundant
Congress has the right 10 suspend or
limit The coinage of silver or gold when
ever. i'm its Judgment. il is i'm the interest
Of the people TO DO so. Coinage OF stand
ard silver dollars was suspended under
jefferson I'm 1906. and remained suspended
for go years. -.
the present controversy; the question now
involved is whether Congress has power
not 10 suspend. but to prohibit the iur-
Their coinage Of silver This proposition;
/ confidently deny. upon constitutional
grounds. Since The repeal OF the SherIn l.
act. the minis Of the United states arc pro
hibited from coming one single ounce OF
silver for private owners. Is this pronlpl-
ton constitutional? Sunpose C9mgT'S ,'',.
should absolutely prohibit the further
coinage of gold. would this be consutu-
tionaI4 What howl would go up from
your bankers. brokers and money Challs-
ers You would see clearly mat III "ts
unconstitutional and protests ana Focl
erations would shake the vault OF hlSh
heaven. Yet the Constitution or the
United States places gold ana SILVER on
exactly the same basis. IL uoeS Iol US
rriuinatc against either OF the preClol9
metals. IL saws that Congress Shall nave
mower to coin money. and regulate the
value thereof. When we come 10 ihqulIt
what is meant 10y money we must look 10
the legal definition thereof when the CON
stitution was adopted. We ind that AT
common law according TO BldckStoli'.
Hale. Saw and the rest. money meant Inc
gold and silver coin of the realm. ne
newer conferred upon Congress was.
fbererore. to coin the gold and silver OF
the United States ana fix It's value thal
is to regulate It's standard denomination
r.ei0bf and oneness. Daniel Webster, the
great constitutional eNpounder TOOK TINS
view Of the constitution and declared
81 believe gold and silver coin TO be the
money Of the constitutions, indeed, Inc
money of the American people anterior
to the constitution which the great or
ganic law recognized aS 4ulle -,
of its own existence. No power was con,
ferred on Congress 10 declare either me ldl
should not be money. Congress mas
therefore. i'm my Judgment, no power 10
dcmonetize silver any more tnah 10 ue-
monetZe gold.
ION and so expressed himself. But H. as
YOU say. i'm 1873 silver was AZ a premium,
and we had coined three times as mu1n
cold as we had silver. and there was more
odd in circulation than there was silver,
why aid not your party curtali the COM
are OF gold as the cheaper ana more
abundant metal? Observe our aItD-
mont now is that silver was too abundant
and its coinage had 10 be stopped 10 pre-
vent it's depreciation. and yet In the same
breath YOU tell us that when you demon ,
cited silver ii was AT a premium stlt
much less abundant than goid. NAY nay
hind of logic or consistency do you can
tLis2 No Senator the history of TINS
transaction had its origin as Secretary
Carlisle declared i'm 1873. IN c3usPlId.g
entered into I'm this country ana EUROPE 10
strike down one-half the precious metals
of the world, and thus double IN Naiue
every salary. every annuity, every creulI
every mortgage, every tax. every rent OF
interest charge. i'm fine every lNel cH'I Hc
of whatsoever denomination, VINE tNtly
debtor and tax payer. and private cluzeh'
and nroducer. and vendor Of commodities
in The country. We're 70 have their prQhts
divided bv two. and their property mus
destroyed There was atime When You
saw this as plainly as / do. ana ackhoWI-
edged IL as frankly but change has come
over the spirit Of your dream. There was
= time only two years ago. when you &c
cIared openlv that We had not too mucn
silver. but too little. You close your adj
dress In n tribute 10 the last session Of
our Legislature. which was Republican;
II would be unnatural for you 70 deal
9ts SENSE of graz grattude for your election to
the Senate of the United states Wouip
naturally prompt and require recognition.
You dwell particularly on the fact. as
Won suDnose that the lobby was quies-
cont and In fact banished from the cor
ridors and halls of legislation. You never
ITere more mistaken in your life. I was
there. and I will give you a solemn al
Sfo,.it mat never saw the lobby more
-,otoi,e with ineolence and disorder. ! do
not blame the Republicans alone for this
disgraceful fact. because many OF the
Iabbvists were Democrats. But, Senator.
Is IL worth while 10 distorj tne Iacts OF