The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-07-01
s RS[S,, '...."...G sosA issiiSi 90

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Then, In 1892. there was deficit OF
1881, 600; now there Is surplus OF
SCI 100000. Then the London ECono-
mist. April End, 1892, said; "Mr, GoSch-
ell 10, for the first time since he became
chancellor Of the cxchequer, face 10 face
with considerable deficit" Now Sir
Michael Hicks Beach says that "the
surplus In the treasury Is the largest
that had ever been known and the cred-
1t OF the country was never SO high"
Sir Mtchuel added that ''thc position
OF the worklngmen was never 80 salts
factory as nj present" Here II Is Just
the reverse Of satisfactory,
In 1892. England had the unSatisfac-
tory condition and the deficit: we had
the surplus and the satisfactory condi-
ton. Since then the conditions have
been reversed, In England they ure
now satisfactory; here they arc unSat-
lsfactory. In England there Is now a
surplus OF revenue: here there Is q de-
tlclency OF revenue. THAT banquet TO
Professor Wilson has been a costly ono
to the American people.
Economist, April 81, 1860
While the above condition OF things
continues, will England ever consent to
bl-metalllsm? No. Does any reason
highly prosperous would think OF
changing Its monetary system? A sys-
TEN which has been successfully opcr-
ated since 1876? On the other hand
they would, in all probability, be con-
tent 10 let well enough alone. Had we
but let well enough alone IN 1892. we
would now have q song in our mouths
instead OF wall.
The reasonable conclusion Is that In
ternational bl-metalllSm Is out of the
question, Notwithstanding the state
ment OF Mr.. Whitney that the indica-
tions are very favorable.
The New York World has interroga-
ted Ex-Governor BoIes. of Iowa, whose
name Will be presented us candidate
for President in the convention to be
held at Chicago. MIR. BOIes is not only
the ablest man among free silver ad-
vocate9, but the calmest, the most
thoughtful, the least reckless"
Among others this question Is asl ed {:
DO You really believe the United States
able, II free coinage were adopted, to
maintain our currency at par with gold
unaided by any other natlon?" His an
swer In part Is: 81 do not profess TO
be able TO state with absolute certainty
whether Il would or would not The
great mass OF the friends OF silver in
the south and west believe 1t would.
They reason thus: Coinage laws fix
the commercial value OF gold by provid-
ing an unlimited demand for It at q
given price. Like laws would fix the
price OF silver provided only that the
demand should remain unlimited for
all that should reach our minis. It IL
the surplus product alone OF the mines
OF the world after all other demands
are supplied, that can possibly come TO
our mints. For this we Will furnish
an unlimited demand for an Indefinite
period. II not for all time"
Just what Mr. Boics means by the
above It is difficult to explain. but his
statement Is In keeping with the claims
made by free sllverltes in general. 1
here quote from McCleary's speech:
"The Open Mint Would Create No
Demand"
zone Of the favorItc claims of GER
tain class OF free silverites Is this: The
open mint would create an unlimited
demand for silver, and that would re-
store II to Its price before 1873 and hold
1t there. This would restore the parity
or the metals, and that would result
In telr concurrent circulation There
are three very direct answers to these
claims: First-There IL no such thing
as unlimited demand for anything In
the world, and no way to create such
a demand. Even the tabled King Mi
das. who seemed to have an Unsuitable
desire for gold, and who was granted
the power OF turning everything he
touched into the yellow metal soon
satinted himself and prayed to have the
mnSic power removed from him. It
must be remembered. too, In this con-
ncctiOn. that mere desire for thing, IS
not demand for 1t In business sense.
] see things every day that would very
much like TO have, but as I cannot at
ford to buy them. my desire for them
does not constitute a business demand
for them.
And, Furthermore. inasmuch as
there Is only limited supply OF any
thing, II an unlimited demand for 1t
could In any way be created, the price
OF the thing would soon be out Of sight
and the thing Itself would be out OF
reach. This talk of unlimited demand
Is simply childish.
'Second-Even II silver could, by
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