The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-10-28
HIS, 5. FALLACZEES.
Mr.. Bryan Again Answered. BY Ills
Y ,. Own. Admissions. vi
lie Is NOT FOR BIMETaLLISM.
Hut for nionomc, aill,m orthe Nts.t Dom
Rerons tISlnd-,vs Now Have Practical
Bin,tt"nl,m-Potnt, f"r woriti"Rva.n.
J. The Popocrn,io Candidates. At~urt.itie.
+ Exposed! 55

,;Mr. PryNu promises that his elCc.
tlop VIII give us tMa benefits OF bImct-
yallisn,, In his speeeh accepting the
nomination. he said; IF, In November,
+ the people by their ballots, declare
themselves m favor Of the mediate
restoration ot bImctallsm, the sys-
TEN can be ihausuratcd within a few
months llaf
Is blmetalllsm Obi mhsanlng
\ tND. ard McHtD II not two n'ittlls In
X use EnSthe curr ency of a country 1apart
iEtrom 1Gbased subsidiary COIN 2 . ~
II q country has gold alone In Us
& currency clearly that would t1ot be
.$!hluetalllsm, but gold monomctElSsm,
SO, II a country had silver atNIe. aud
no gold In use In its currency clearly
al would not hnve binetallisni, hut sill
z Yer monometalliS.n.
II, on the other hand, q country had
\ silver and gold btsh in use in its cur.
4 rGncy that country would certainly
s have practical bin ctallsn.
This Ia what Mr.. Bryan promises us,
* gold and silver both IN use In ohr cur
Srency t3A
But we have seen that II TIE mints
Z are opened to the Tree colnnSsH OF sill
i Yer. II being the cheaper metal would
drive out the gold. Sand we should be
= left With only silver Tor currency, This.
Z 'as we have seen, would not be blmetll-
I Ism. but silver mont nletallislr.
Therefore, although Mr.. Bryan pro-
misses bimctalliSm, that Is not what
he would give us. but: monometallsni.
x and silver monometall.sm at that
One must not allow neselt to bt,1omc
A confused by names or phrases. or. even
by beliefs or promises One must So by
the true inwardness OF things
+ IL VIII not do to bell Eve that some
thing Is bimetalllsn bee ausc somebody
says It Is, when In reality II Is silver
recommendation.
Calling silver monome tallism 6imct-
aliSm does not make II 10.
6S3 On the other hand. what have we in
K this country to-day?
The United States treasury state
ment OF October l, 1896. shows THAI We
have in circulation. Exclusive OF
treasury holdinss). Sli.0tD,000 OF gold
and gold coin certificates. about S+ll,-
100000 OF silver and silver certificates,
tquite apart from $50. 100000 Of subsidl-
airy silver co!n). Is not this practical
blmetallsm?
How much more bimetailic would we
and left only silver?
5iIn poiEt of fact then 1t IA apparent
that WE ALREADY HAVE PRAC-
TICAL B1METALLISM, tt1tough NOT
4 free silver coinage, and that IL We have
free silver coinage We shall not get
silver nonometallism. 90
Although We already hare bimetal-
Ism, our measure OF value IS the gold
dollar: that Is to say. no matter which
III 4
Hlcbt, whether q gold dollar. or Il silver
y note. or a silver certificate, they arr all
& measured by the bold dollar, which Is
s. our unit or standard of value, and at the
present time all these five different kinds
3 OF currency are equal in purchasing
II power TO the gold dollar. And so when
any exchanges take place in this coun-
+ try in which no MONEY Is paid. rs where
AZ payment is made by note. or by the ex-
charge OF other property. the amounts
9 are reckoncd IN dollars, and the dollar In
mind Is, at the present time, always
: equivalent in value 10 the gold dollar.
Z Thus the gold dollar Is the measure Tor
Is standard) OF value to which all values
( Of property and money are referred in
38t this country at the present time. and by
= which they are measured.
Il KS This property az being the measure
Cor 3tandard) OF value. il Will be OBJ
served. is quite distinct from the proper
4 ty OF being a medium OF exchange. Thus
III where one OF more gold dollars are given
y In exchange for property, they not only
"a serve as 4 measure Tor Standard) OF
by value but also as medium of exchange
! for that value; whereas had silver ccrti-
flcatrs been used. the gold dollar would
Il still have been the measure Cor stand
4, ard) OF value OF the articles purchased.
u while the silver certificates would have
been the medium of exchange used.
This distinction was very clearly given
In an article In the New York Evening
s. Post, OF September II. 1886. entitled
f5a'The WorkinEmIn's First Lessons In
SIoocy." ~ follows. viz: But he Zone of
q The first traders In the world soon found
{: X out tint the forms of money he was us
b Ing, namely, cattle. iron. beads, tea
copper, for any number or reasons,
3 would not do. And so he quickly began
2 to use the new money gold and silver;
\ for that purpose. and found that they
" answered perfectly
III And from that time to the present,
money as represented by gold and silver,
n has served two purposes; first as n me-
i dun M exchange: second, rs 4 measure
sMtSt1ndard) OF value
81 SnU. II viii be perceived that It IL
quite possible to have but one measure
VI Cor Standard) OF value. and yet several
"a metals serving as mediums OF exchange,
g or money, under that single standard
g just rs I'VE now have both gold and Sill
q Yer serving as money, or n medium or
u exchange for articles bought and Rold
under the single gold measure Tor stand
y ard). srgh.
Indeed 1t Is impossible to have the two
standards OF value in operation at til.
IS same timr, because silver fluctuates so
re- much that even IL the ratio OF value be-
tween 1t and gold was exactly fixed to-
EA day I'm order to make the two standards
nrfmeaGures and their respective coins
exactly equal In value. so that both
coins could circulate side by side by TO-
morrow the price OF silver would have
Z changed, and the equality of the stand
ards being destroyed, the cheaper coins
wnuid drive out the dcarer. just as the
!, silver dollar In 1902. when 1t was . per
q cent cheaper than the gold dollar, drove
Il the latter out of circulation until 1894,
n md Just rs the gold dollar In 1894. when
,&,itwas , per cent cheaper than the silver
Y dollar. drove all the silver dollars out nt
II circulation until 1860, and instead OF
having b!itctnllism, We should thus be
Immediately reduced to monometnllIsm
fN Hence II Is clear that In order to have
&i bimetallsm In practical use. We must
have but n single measure Cor stnndard)
~ of value. with the other metal adjusted
II in some way to that standard. either ns
gold or silver dollars now are to the gold
dollars or ms the silver francs OF France