The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-08-13
ON. WEARY willie !!
Continued nom r.r.e Page.

AZ " lnst the maintenance OF n gold
& 2 either permanently or uutll
nlthec nations can be united for ItB loyor-
THROW, tho Chicago platform presentn n
elcar and emphatic demand for tho I'M
mellate restoration of The free ma i'm.
limited eoinaEeof silver md gold 1T Tho.
ptraent ,lesal ratto.ot 10 10 4 lwlthNut
Maillng FOR the aid or consent of i,ny.
Anlhers nation. We ARE not naklnp thht.n,
new exncriment no tried. we are Insist
2 upon o. return tNtn financial policy
Improved by the experiment of, history
IN W slnortod by all tho prominent
n NJ Selsmen OF DIR nation from tho days OF
y Y JIrst PfpRidcntD down to 1879. When.
w. nslv Tint our mlntsI hi opened 10 tho
siees and unlimited coinage OF, silver Into
WI iegal tcader money, we are simply
asklng that thu same mint privileges BIO
aeccrdtd TO BllSer that arc, now accorded
Y Solo: When we ask thar this coinage
VI atsthe ratio OF 10 tu.1, We simply ask.
that our gold coins and the standard
u sllSer dollar, Which, be it tememberrd,y
q contains the saine amount OF pure silver
as h first silver dollar coined at our
s3~nints--retain their present weight and
N flnencss. M M
Under the bI-metallIc' systpm sold nnd
silver nre linked together by law attn Ak
4 cd taUos and any person or persons own
4 me- any quantity OF either metal can
nave the am converted into full legal
tender money. II the creditor has the
right 10 choose the metal In which pny-
mett shall be made. It Is reasonable Ia
suppose that he Will require the debtor
20 pay U the dearsr metal II there Is any
perccptlhle difference between the bull
Y inn values OF the metals. This new de.
mnnd created for the dearer mEtal VIII
make shat metal deHrcr still, while the
decreased demand for the cheaper metal
Will make that metal cheaperstlll.
u. on the other hand, the debtor en-
y oroises the option. It Is reasonable to.
suppose that he will pay In the cheaper
metal II one metal Is p%erccptibly cheap.
er shanf the other: but the dGmnnd thus
created for the, cheaper metal will raLae
us price while the. lesSened demand for
the9dearer metal will lower Its price.
Society Is, therefore, Interested In hav-
Y Ing the option exercised by the debtor.
Indeed there can he no such thing as
real hi.r1ctaillsm unless the option IS ex-
nreised by the debtor.
DiaErum, Please.
a government obligation is simply a
debtsdue from all he people to one OF the
people and It Is impossible TO justify n!
policy which makes the interest OF the
one person who holds the obligation STU
perier TO the rights OF the many who
must be taxed to pay it,
when. prior to 1919, silvcr was at al
Premium, II was never ~eontendcdH that
national honor required the pdymentka of,
government obligations In silver and the
Matthew'S resolution, adopted bytCon-
gressi IN 1875, expressly asserted h e,rISht
of the United States government to re.
4deemTcoin obligations In standard silver
dollars MS well as In gold coin.
ills constantly assumed by some that
the United Safes tes,commonly called
gteenbacks. and the treasury notes, is-
sued under the act of 1850, are response
bio for the recent drain upon the gold re-
serve, but this assumption is entirely
without foundation. Secretary Carlisle
appeared before the house conimittee on
approximations On January u. 1896. and
ISGuote from the printed report OF his
testimony before the committee;
MIR. Sib!ey-I would like TO usk you
tpfrAaps not entirely Connected with the
matter under discusston) what objection
there could be in having the option of
s~rgdetmiaS either in silver or gold lie
atth the treasury instead Of the note
hqider?;
tSectetary Cari!sie-If that policy had
been adopted at the beginning OF fa-
&gGn,p;or=,nnd | an not saying this for
the purpose OF crtticlsinE the action OF
my Of my predecessors or. anybody else
-hlt II the policy of reservlEg TO the
government at the beginning Of rssun,p-
tlnn, tho cotton OF rcdeemiag il}Tp!d or,
silTer all It's paper presented. l believe II
would have worked beaetclRllv and
3asrr would have been no trouble grow
Ing out of Il, hut the secretaries ofGths
treasury from the beginning OF rGsumn-
zion have pursued a policy Of redeeminS
in gold or silver at the option OF the
holder OF the paper. and II any secre-
tary had afterwards attempted.
Ito change that The policy and force sill
We. upon 4 rlan who wanted gold or gold
& upon n man whd wanted silver and eS-
pecfally Il he had made thar attempt IN.
suchsa critical period as we have had in
the5Iast tsyot years, my Judgment Is 1t
would haze been very DISASTROUS. ] do
not agree with thu secretnryrtha Is was
wise toffollow a had precedent, hut from
his answer1t will be seen that the fault
~ dos not lie with the Ereenback3 and
TREASURY notes, but ratherSwith the exec
utIve officers who have seen fit to sur
Y render alright which should have been
HrxErctsed for the protection of the inter-
.estT OF the people. This executive action.
h haSaIreay been madestht excuse for the
issue Of more than $3.50. 900, 900 III bonds
and 1t Is impossible 10 estimate the
amount Of bonds which may hereafter
be issued II this policy Is continued:
The government must either exercise
Il the right TO redeem its obligations In
.silreriW.hen stlverE s more. convenient, or
Sit must retire all the silver and silver:
certificates from circulation and leave
n6tning hut gold as legal tender money.
Oh, Eiliy, what . Contention.
W contend that free and unlimited
.coinasG by the United States alone Will
raise the bullion value fof silver to It's
coinage value and tIus make silver
bullion worth Sls29 per ounce in gold
ithioughout III twcrld, This proposition
Is ain keeping with natural laws, not In
defiance Of them. The best known law
Sof5 commerce is the law of supply alsf
denlund. I've recognize this law q
x build our argument uponfit. ~
IuternatIonal bi-metatliFts car64S
Icamplain that free silver gives a bel
TO the. mine owner. because internatlV
8JJ-n,etallism gives to sthc{oWner Of
yer NIL the advantages offered by intN
pendent bi-lEctallism at the same ratio.
international hi metaliists caGnot ac-
&,cusa- advocates of free silver as being
%t,tbulllonfowtleFs who desire tuSraiae$ the
VALUE OF their bullion" or debtors who
desire to- pay their debts IN cheap aoi+s
lars; or "~demagogueS8 wh6 desire to
curry favor with the people" Thhy.
must rHst their opposition upon one
ground cfly, namely: That the supply
OF oliver available for coinage Is too
large III be utilized byt the United States
I'm discussing thiagquestion we must
consider the capacity Of our people 70,
use silver, and the quantity Of silver
(which cat come 10 4uur mInts. Now,
Ilsw much silver can come here Not
the coined oliver OF the world, because
almost. all of 1t Is more valuable ut tnl5
$3time II, other landF than 1T VIII. be Rt'our
~. =, ,,nyJ6r fts5 a rotpy,Uu p IfE1fr ~, Tt,tf.