The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1896-08-28

: =. SO ~ i D *
free and nnlluiiel coinage Of both sstts,-.
VIII only bring It cheaper metai 10 fse
n 2. ~, and III lease the more valuable metal
a iittie while ago l said. ..No government.
with thu possible exception OF the etntsT
composing the Latin 1nlon. has thnS M.
been able 3. mainfain .tiiyftl ana gold m
any great length Of tine -S'
The Latin Union uns organixed In 1877
between france. Italy, Beigium and svvitr
eriand. They were bimetaiiie countries ana
entered into an agreement In thar year b.
BY which the amount Of silver % he eoined
each year was dxed for each member OF the
Union. The coins Were Il Ike character N
weight and fneness. They we've 10 he n
cetred thrOugh0at the Onion without dis.
examination. both on public and private nc
count. Greece Joined the Union in 1893
Within the limits Of that Union there was.
from 1893 10 1874. that II for nine Year,.
practical Interchange Of gold and silver coins
and practical use OF gold and silver upon 4
parity at the liked ratio Of Is to /. You win
note that there was no free and INITIATED
coinage. You will note that each country
was restricted as to the amount Of siiyer
II could coin. You will note that there was
elective International agreement between
these nations. and now, mark this adti.
tional met: These nations found that In the
face Of thelf DEALINGS With the rest o. the
civilized World they could mot keep any al.
dltionnl silver coins afioat. and SO even they
stopped the coinage Of silver In 1s54 There
never was free and unlimited coinage with
in the Latin Union. For % years there has
been no coinage except OF subsidiary coin
TO take the place of TINT which had been
abraded and worn cut
II there be any argument to be derived
from the practice and experiences OF the
Latin Union 1t Is that International agree
ment alone can make the coinage of silver
safe or effective.
There { today no such actual thing as
free and unlimited coinage OF both gold and
silver In any nation In tie word. I put this
statement In another form. Gold cfrcuiates
as money nowhere In this world whore there
Is free and unlimited silver coinage. Where
there Ii free and unlimited silver coinage
gold e simply q commodity and IL sold at
Its bullion value. Its price rises as the val
ne OF silver diminishes. It's price rises Rs
the confidence OF the people In paper dimin.
ishes. IN other words. gold Is fact. Paper
money is nat. Gold gets Its value from the
desire Of the people to have 1t and Is worth
what the people will pay for It. They will
pay for 1t what 1t Is worth TO them. and no
nintter what law you may make. gold will
snI e Mo as e IN ps s q the Ms SaS
paper money a. the people think the paper
money worth. There Is no intrinsic value
In paper except the material OF which II
10 composed, and that Is preciseiy the fact
with regard to silver. Paper being made OF
wood pulp Il now very cheap. When you
print It Into money 1t gets Just such value
e ySn put spSn The s, hGnes snd Ssd faith
No icssel ma TINT 'ho,,nr ma vcnd fatth ara
analiy measured By actual redemption In
coin and By nothing else.
.nd .hss rns at
= ~, ~ Psau tn.t S IN wv wv
a. -. ... glss ~ tnis na t stoe.y. we
reney is today worth absolutely nothing
u y the epttaph OF national dishouor.
The French monarchy printed the John
Law currency ~ 1720. It broke its promise.
istence It u only the badge Of French prof.
ligacy and financial faisehood. 1t Is only
valued as curiosity or as pulp.
The French republic printed the nssignnts
or fuinlied ID promise. and that paper cur
rancy II only badge of French republican
falsehood and Is OF no value except as
The southern INC Gonfederacy printed millions
Of paper money redeemabie six and twelve
months after the acknowledgment OF the
independence Of the Confederate States.
1t does not now seem likely to occur aud the
Confederate cuYrency Is only q memory Of
brave effort in an unfortunate and niisguid-
ed cause and has no value except as curiosity
or pulp.
legal tender notes. we have also about i2s
millions OF treasury legal tender notes ISSUED
that we might giye silver more artificial
value. We bought great quantities Of silver.
We did for silver All that tic most generous
friends OF silver ought 20 have done and
more than wise men should have done. we
coed In the speculation. What business men
could NOT do tie nntion neither did do nor
could do We thus have afioat nearly AIS
millions Of legal tender paper. OF this
put down rebellion and save the nation.
More than 125 millions were issued to nut
down gold and save silver. We did put
down the rebellion: we did save the nation.
NOT pf down ans Me soS bs we as