The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-06-24
GOLD AND SILVER
The Question Of the Hour Explained and
Discussed by Hon. Isldor Rayner.
THE FALlACIEs OF THE SILveRITEs.
How Free and Unlimited Coinage
Would Affect Wages ana Business
"A Ratio OF 10 TO is Am Emblem
of Repudiation-A Fnnnticaf Move
meut and TO whnt IL Will Lead.

The following PARTICLE was prepared at
the request of the Baltimore Sun by the
Hon. Isidor Rayner. Mr.. Rayner, who
was chairman of the Committee on Or
ganization in the fifty.third Congress
that had charge of the repeal OF the
Sherman silver-purchasing bill. Follow
ing Is MIR. Rayner's article:
The object of this paper is to place be-
fore the people of Maryland within a
brief space and in a plain way, SO that
they can be easily understood the lead
ing features of the controversy now aEi-
tsting the public mind as to whether the
United States shall open its minis to the
free and unlimited coinage of oliver at
the ratio of sixteen to one, and, without
international agreement, of its own ac-
cord undertake this revolution in our
financial system.
WHAT is SIXTEEN TO ONE,
Sixteen to one means tina. this gov
eminent shall declare by legislation that
one grain Of gold is equivalent to sixteen
grains of silver; in other words1hat as
gold dollar contains 1922 giains of pure
gold. that sixteen times that much of
pure silver namely. 37lh grains. shall
by act of Congress be enacted TO be its
equal in value. Now 1929 grains of gold
instead of being only worth 37lL grains
of silver are in reality worth sos grains
OF silver, and therefore, the fist PROPOSE
ton is that this government
shall declare that to be true
which Is false and that to be equal which
Is unequal That Is not all, however,
that 1t Is to do. After 1t attempts to SOL
EMMY enact this falsehood into u truth.
1t Is, without charge and without limit.
TO stamp the falsehood upon the infe-
rior coin. send ii current ,th'vugh the
country and compel every seller to take
II in payment foH his commodities, every
laboreg FOR his wages and every creditor
for his debts.
SILVER BASIS.
What sort of money will we have in
the United States? When this process
Is in fun operation and the whole world
Is dumping its silver into the American
nNnts. wha. sort of money will we have?
Every student who understands the first
elements of this discussion knows, and
the experience OF centuries points to the
fact that gold. the dearer metal. will
rise 10 ~ premium and be driven from
circulation. and silver, the cheaper met
al. VIII be the currency of the land In
ans situation the silver dollar will not
DC worth the stamp that the government
places upon IL, but will only pass for its
bullion value ju;t as C.e Mexican dollar
does to-day, the country will be upon a
silver basis, and ithd,awing from the
pale OF commercial nations VIE will take
our stand. so far as finances are concern
ed. with India, Japan, nnd the revolu-
t!onary republics of Central and South
America.
EMBLEM OF REPUTATION.
Thu. is what, the fanatical leaders of
this heretical creed who are now pushing
TINS doctrine to its c.l."eme limit want
Time and time again they have pro-
claimed this in their speeches in Con-
givss and upon the hustings and before
the conventions they control They
want the scaling of debts, they want
cheap money. they want to inflict pun
ishmeL; Upon the creditors of the coun-
try. 10 strike down inves aments. to de-
fault upon national obligations and to
stain the banners of Democracy with
the emblem of reputation
EFFECT ON WAGES.
Let us seq what profit the people will
derive from the undertaking. Take the
wase-earner first. From the very mo-
ment the minis are open to free
silver wages will commence TO decline
This rs an unbend.ng rule, and invoke
the history of every country that has
attempted a similar feat in the proof OF
the assertion. The wage-earner will be
paid IN silver. and the silver that is
paid him VIII have but half of the pur-
cha sing power OF the wages he now re-
celNeS. ncn tne empower al the end of
the week pays his weakly wages will he
pay them in gold or silver? Will he paw
them in !egal-tenier silver or will he
purchase gold at IL premium I'm order to
pay them? This question answers itself
and the only wonder rs that the iaboring
men and their conventions 'throughout
the country have not risen in taeir might
and denounced this scheme to reduce
their wages. all eady low enough, for tho
benefit of the silver mine owners of Ne
vada and Colorado.
DEBTOR AND CREDITOR.
1t goes without saying, and. in fact. is
conceded by those who are engineering
this movement, that creditors OF all
kinds VIII be compelled TO take certainly
one-half, and IN AL probability less than
one-half of the debts due them When a
debtor is called upon to pay. how will i've
do 1t, in legal silver dollars worth fifty
cents or in gold at n premium? This
question also answers Mself The awful
injustice involved in this proposition IS
enhanced by the fact that almost every
debt that row exists was contracte ed
upon gold basis, and so compel cred
itor by law to receive payment IN a de.
preciated SILVER dollar is reputation
pure and simple.
THE GREATEST LOSERS
Every person who has an .nves:men:
OF any sort not payable by the terms of
the contract in gold WITH be compelled
TO take silver, and thus lose at least
onehalf Of the investment The saw.
ings banks will pay to their depositors
i'm silver aud hundreds ~ &,