The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-07-23

led; that II would help the country, In
crease business, employment and wages.
This would have gone on from campaign
70 campaign. but for the fact that after
long persuasion heGpeople trusted the
promises OF the Democratic party. and
have had n period of tariff for revenue.
only. The results are manifest on fall
sides, II we had not tried Democratic
tariff. the DenlocratRswould still be per-
suadine the people thatit wan the only
true policy for the good OF the country.
Seeing that defeat this yenrwas inevita-
bio on the tariff question. the Democrat.
10 party found new issuer: free silver,
communism, war on the supreme court
and the national honor and the national
|scrodlt. t3s
The Republicans warned the people
against tariff for revenue only, and they
now warn them against free silver,
communism and anarchy. Don't trust
this new Democratic party. whatever
offerlngs II may bring. Atrial OF free
silver would be Just as disappointing as
our experience with free trade. Getting
something for nothing has never sue
ceedcd In the history OF the world. S
Free silver would benefit the owners
OF silver mines and the owners OF silver
In Europe. But the FREQ and unlimited
coinage OF silver. at the ratio OF Is to l.,
especially when united with reputation
and anarchy, will not open mills and
factories, stimulate railroad building,
encourage trade and commerce, md em-
ployment for the people at good wages,
md make values stable. Just the oppo-
site OF all these will surely follow.
Possible Use OF Silver as Money.
] have been producer Of silver for
sixteen years; naturally am Its friend
and favor Its largest possible use rs
money. consistent with sound and stable
currency. My interests would incline
me to favor the free coinage OF silver III
could see that It was practicable or pos
elble or rested upon any sound principle,
The people now agitatIng the silver
question and demanding Its free and un-
limited coinage at 10 to 1, when silver 10
only worth Il to l. are Its worst enemies,
apart from the injury 1t would work to
the country. =,
did not favor the purchasing clause
Of the Sherman act. because ! felt as a
friend OF silver and citizen 1t would In
crease the production Of silver and
thereby lessen Its value In the markets
and destroy confidence In 1t as money,
This was the result. {l
There are many silver people who are
honestly deceived and believe free silver
would be beneficial to the country, yet
they are willing to consider the question
fairly in the light of facts. They want
information. With all such people Re-
publlcans are willing to reason and dis
cusa the subject.
What Does tho Free and Unlimited Coin.
ago OF Silver Mean TX
1t means that owners OF silver bullion
in the United States, In Mexico and in
Europe, now worth only So cents on the
dollar or ounce, may take the same to
the mints OF the United States where
silver and gold are coined and have the
United States, at Its own expense and
free of expense to them, coin and stamp
each dollar or ounce and make 1t n legal
tender and equal In value to gold dol
lar, thereby increasing Its value from So
cents to 100 cents, making 4S cents profit
to the owners on each ounce or dollar.
Under the free and unlimited coinage
of silver at 16 to the number OF our
mints would have to be increased and.
those built enlarged, throughout the
United States, at a great expense. 1t Is
estimated there would soon be brought
to them for coinage more than 100000, 900
ounces or dollars of silver. now worth 52
cents on the dollar. The profit on COIN
Ing this vast sum, admitting that silver.
would not further decline. would be,
s24O, 100000 to the owners of this silver
bullion and no one else. There Is not a,
man, woman or child In the state OF
West Virginia, or In any of the states
outside Of the silver producing states,
who would share In this profit, except
owners Of silver bullion. Are the people
willing to see this vast profit made by
silver owners and spectators? Would
1t not be legislation of the rankest kind
in favor Of the few at the expense OF the
many? The free and unlimited coinage
Of silver at 16 to !, when it takes 81
ounces OF silver to purchase In gold.
means that by law we can make that
which Is not equal in value. in the mar
kets OF the world equal. An act Of Con-.
gress can no more violate the laws, of
trade and commerce than It can the laws
OF nature. ~ yl,
Effect OF FREQ aud Unlimited Coinage of
Silver.
The first effect would be to cause the
people to hoard gold because we would
be on a silver basis. Gold would be at
a premium and would not circulate. This
would withdraw from circulation imme-
diately $GeO,0O0,000 Of gold. Such n con-
traction OF the currency has never taken
place and would be ruinous. It would
bring on such a panic as the country has
never witnessed. Second, we would,
have q tiuctuating currency, which all
history proves entails great. losses upon
the people, especially the wage-earners
"A circulating medium that varies In
value from day to day, and no one knows
ITS value for a month ahead, can work
nothing but Injury to the people, and all
persons depending upon daily wages
The nominal rate OF wages changes very
little, with the fall In the value of cur
rency. The lnborlng man works for
about the same wages when money Is
cheap as when 1t Is good, while he pays
more for everything he buys. The lab-
oring man, II we have q fluctuating cur
rency, would have to figure what his pay
would be worth from day, to day and to
find out and look at the quotations In the
market. or ask merchants and bankers,
who would stand ready to make dis
count. But under our present system a
dollar does not change and everybody
knows its value from day to day and
year to year, all dollars being made
equal to gold ii. u 5l.5lI.55ii
The government, during the war, was
obliged to pay for supplies In grcen-
backs at great discount Sometimes
they were worth only forty cents on the
dollar, the government losing sixty
cents. because the government after
ward made every greenback worth
dollar In gold, making the cost OF the
war, according to Hon. John P. Jones'
the great silver leader. fifteen hundred
millions more than 1t should have been,
on account OF a nuctuating currency. 4
1t Is estimated that our people owe