Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1896-09-09


esteemed neighbor would have Dragged
more about it. Yet it condemns this
same argument when uttered by others.
The more money we have, the more
money of final redemption, good in pay
ment of all debts public and private,
The easier times are, the easier 1t is to
get money. the better prices the farmer
and the laborer get for their products
and their labor. Under free coinage sill
yer would be money of final redemption,
and every dollar of it would be as good
as a gold dollar. No man of common
sense will believe that free coinage will
drive gold to a premium. Gold is prac-
tically at a premium now and has long
| been so. because, as the only money rec
/ ognized 10y the government it IS the
most valuable and consequently it is
boarded. But as soon as this govern
ment recognizes silver on an equality
win gold, as soon as We use silver for
the payment of all debts public and pri-
vate. JUS. that soon will gold cease to
have any value above silver at the coin
age ratio. And just so soon will gold
I fall and silver rise in value, bringing all
of our staple products and labor up with
it. 1: could not be otherwise. Does any
intelligent man believe that this will
put gold at a premium? Will it not
rather do the opposite thing and bring
/ gold in:u circulation once more, since
there would be no greater advantage
in boarding It under these conditions
nhan there would be in boarding silver?
Would it not at once raise the purchas-
ing power of silver and lower that of
gold, placing thcm once upon an equal
ity?
/ Our neighbor next wishes to know if
bime.allism prior to 1873 was no. legal
fiction and as a matter of fact did not
exist. No, it was not a legal fiction and
did most emphadcally exist, else the de-
monenzation of silver would never have
! bsen attempted by England's agents in
1873. The fact that silver at that time
was more valuable than gold at the
coinage ratio of 16 to and consequently
was not coined to any great extent, has
no further bearing on the question than
TO completely knock the props from un-
der the goldbug contention that free
coinage would give us a cheap" dollar,
since the production of gold since 1873
has run far ahead of that OF silver, max
ing the natural ratio even less than 16
to /. Bims:allism was no legal fiction
in 1873. as the gold gamblers well knew.
/ Suppose they had tried TO corner gold at
that time. What would have been the
result of running up the price of that
metal? Ii would at once have brought
out silver, and to have gained control
Of our circulating medium as they have
to-day the money sharks would have
mad to corner both gold and silver, in
stead of gold alone, as at present, which
would have required greater resources
than even these plutocrats have at their
command. Next query:
Is it not true that there are to-day in the
/ United States treasury vaults more than
/ 3GO.000000 silver dollars coined. when
/ would be in circulation if there was bust
ness to bring them into distribution?
And why isn't there business to bring
them into distribution? OF course, our
neighbor will at once say that it is be-
cause capital is frightened at the
"rhreat Of cheap money" that it is afraid
of being paid in "ffty-cent dollars" But
this does not explain the situation to-
day any more than it explains similar
situations in 1898, or in 1888, or in 1876,
OF in any other period Of money con-
traction and panic. These periods have
ben getting closer and closer together
of late. L won't do at this late day to
blame them on The free coinage propo-
sition. They existed long before the
free coinage proposition became para
mount IN our politics. At first the pln-
.ocratic press tiamed these conditions
on "overproC1ction," though they did
not explain how it happened that there
was "overprodLc, OF" when thousands
were starving and naked. Next they
blamed it on the threat Of free trade, .
h;ob =; ror.apea that has been suffi-
GENTLY exploded. Now they have new
explanation, and heaven bless US, what
an explanation it is-the threat OF TOO
| MUCH MONEY!
In reply to other ill-smelling chest
nuts which our esteemed neighbor
shoves at us in bunch, we will say
that
There is not a free coinage country
in the world to-day FIAT is not as pros
porous as 1t is in the nature Of the people
inhabiung ii 70 be. or that is not entirely
free from financial disturbances.
There Is not a gold standard country
in the world to-day that is not suffering
from financial distress.
There is not a silver standard country
in the world to-day that has not a sufi-
cheney Of money in circulation with
which to conduct its business.
There is not a silver standard country
in the world to-day where the working