Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1896-04-10

silver alone rs their, r,stnudard Of value.
All history warns us against rash ex-
aerimenta which threaten violent
manages in our monetary standard nnd
sho dogradction of our currency. Tie
pnst is full Of lessons teaching not only
he economic dangers. but tho national
fnmoraliiy tha, follows in tho Train Of
such experiments. / will not believe
that the American people can le per.
shaded after sober deliheration to jeup-
ardizo their nations prestige urd proad
standing by encouraging, imarcal Eos.
trums, nor that they will yicli TO tho
false allnroments of cheap money, when
they realize that II must result in tho
weakening of that financial integrity and
tcctitude which thps far in our history
have been so dovotedly cherished rs emo
Of tie traits cf trun Anicricanism... 49,
Our country's Indebtedness, wkathcr
owing by tho government or existing bor
tween individuals. las been contracted
with reference to our, prcsout standard.
I'd decree by net of congress il,ut ,ihcso
debts shall he playable in less valuable
dollars than those within tho oon,em-
pla'ion and intention Of tho parties
when contracted would operate TO trans.
Tor, by the fiut of law. and without COM
pensation. IN amount of property and n
volume of rights and interests almost
lncalculablo
Those who advocate blind and hcnd-
long plunge to free coinage IN Tho namo
pf bimotnllism and pre- Tossing tho be-
lief. contrary to ull experience. that wo
could thus establish u double standard
and concurrent circulation OF both
pIetais i'll our coinage, aro certainly
reckoning from II cloudy standpoint.
Our present standard of value liz tho
standard of the civilized world aud per-
mits tho only bimetallism now possible,
or ut least that is within tho indcpcnd-
ent rcuch Of any single mutton, however
powerful that, mutton may bc ID
There is n vast difference between n
standard of value and "a currency for
monetary use. The standard must neccs-
sariJy be fixed and certain. The currency
mny be in divers forms and of various
kinds. No silver standard country has Il
gold currency in circulation, bnt M en-
l;ghtencd and wise system Of finance TO-
cures tho benefits of both gold and silver
hs currency and circulating medium by
keeping the standard stable and all
other currency ut par with it. such ~
system and such u standard nlso give
FREQ scope for tho use und expansion Of
snfc and conservative credit. 30 indis,
pensnblo TO brond and growing CONNER
ciul transactions and so well Hnbai itutod
for tho nctual use Of money. II u fixed
and stable standard is maintained such
az the magnitude and snfeiy Of our com.
mercial transactions md Gusiness ro.
qnire. tho use of money itself IL con.
vcniently minimized. Every dollar Of
fixed and stable value Inns through the
agency of confident credit MI astonishing
capacity of multiplying itself in AnnD,
cial work. Every unstable aud fluctunt-
ing dollar fails ~ basis Of credit, aud
its uso begots gumbling speculation nn,l
-umdcrmincs tie foundations Of honest
enterprise.
! have ,vontured TO express myself ON
this subject Sy.ith earnestness and plain
ness OF speech because cannot rid my
self of the belief ihnt ,hctc turks in tho
proposition for tho free coinage Of sill
Vor' 30 strongly approved nnd III cnthu.
siastically advocated bya multitude Of
my countrymeii, II seriOns menace To our
prosperity and IN insidious temptation
Of opr people to wander from tho allc-
glance they owe to public and tpfivnto
| Integrity. 1t Ia because do not tiis.rust
the. good faith and sincerity OF those
who, bress this scheme that I Eavo im7
perfectly but with zeal submitted my
thoughts upon this moment9us subject
cannot refrain from begging them to
rc-examire their views and boliefs in
tho light Of patriotic reason and familiar
experience. and to. woigh again aud
again tho consequences Of .snch, ,legisIa.
tion M their..e efforts ,hnvo invited Even
tho continued agitation of the subject
adds greatly to the difficulties. Of dam
gerous financial situation already forced
upon us. -