Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1896-06-05


should be given the opinion OF others
that We would have them accord TO
ours. VituperatiOn is not argument
and is far from convincing to thought
ful minds.
"Endeavoring 10 keep my mind IN
receptive frame while investigating TINS
question. entertaining no hostile feel
ing toward Silver, believing in the
largest possible use of the white metal
and having a profound repect for the
opinions Of others. Who differ from me.
I am. after mature elaboration, fully
convinced that the free and unlimited
coinage Of silver at IS to 1. and making
il co-eaual with gold, as the money OIL
ultimate redemption, would be imprac-
ticable and rUiDous.
Il do not propose 10 occupy the time
of this body by attempting Lengthy
discussion Of this subject, but merely 10
present a few thoughts impressed upon
my mind while considering II, with the
hope that others Will elaborate the sub
iect and entertain MS with something
new and instructive.
Il find sir. that all OF the great COM
mercial nations Of the earth-all the
most civilized countries Of the world,
have but single standard for the meas
ure OF values: that they have prospered
In its use. and manifest no inclination
10 adont q double standard. Our own
country adopted the single standard IN
1873. Contracts have been entered into
and debts created, based upon that
standard OF value.
My recollection is that from 1873 to
1880 the country was generally prosper
ous. and it occurs 10 me that whatever
depression may have existed in certain
lines is attributable TO ether causes
than the demonstration OF silver l
am aware. sir. that agricultural pur-
suits have not been satisfactory of late,
but it is as likely that the man in the
moon had as much TO do with it as the
law Of 1873
Improved machinery and increased
facilities have enabled the farmers of
the Great West TO largely increase the
production of grain-thiS increased sur
plus coming in sharp competition with
the products of other countries that
have turned their attention TO the cul-
Jivaion Of cereals, has caused a decline
in prices.
Horses have deprecated in value
probably more than anything else.
The increased use of steam. electricity
and bicycles has. to a large extent, done
away with the use and demand for
horses. To the ineXOrable law of sup
ply and demand must We look for the
cause of depression. tt seems. however.
that with some the decentralization Of
silver is responsible for all the ills that
flesh is heir to-
"The demand of the advocates Of free
silver is that our government, single
handed. open its minis to the free coin
age Of the silver of the world. that all
may be taken from the bowels of the
earth. as well as all the old silver spoons
and tea-pOtS that may he raked from the
four quarters Of the globe, be received
by rs and coined as legal tender money
that each and every 50 cents worth Of
this metal so coined shall be stamped
one dollar, and that we are to receive
the same as one hundred cents in pay
ment of all debts or purchases made.
Furthermore. they demand that the
government shall assume to keep this
50-cent dollar upon a parity with and
exchangeable for gold.
Mr.. President. we all have great con-
fidence in the ability of Uncle Sam.
We have some conception Of the magni-
tude Of his resources. We have had
wonderful exhibitions of his power; but.
to expect the old gentleman TO success
fully carry such a load as they would
place uDon him is the extreme of folly.
IL would be somewhat similar to the
sentence passed upon Atlas. Sir, re-
pudiatiOn and disaster would inevitably
follow, and that speedily.
The credit of the government and
its financial integrity can only be main
tanned by the prompt payment of all its
obligations in the very best Of money
current everywhere at its face value.
alt has been declared as the policy of
the government 20 maintain its silver
obligations Treasury notes. upon a
parity with gold. The attempt to main
tain this parity brought the panic OF
1898. has greatly embarrassed the adj
ministratiOn and forced it to increase
the bonded debt by many millions, to
obtain the requisite gold. II. then. I'M
der present conditions. we have found
il difficult to maintain the parity of the
metals, what may we naturally expect
when we shall have become the dump
ing ground for the silver Of the world ?
But suppose We have free coinage of
silver. restricted 10 the production of
American mines. to whom does The
benefit inure? Silver men say every
body; that the value OF property will be
enhanced and the wages of labor in
creased. I can see no benefit in double
prices-in half value money.
Il can understand how the silver mine
owners, and they alone. may be benefit
ted under a law by which the govern
ment in effect. contracts 10 take all the
products of the mines and guarantees
to the owners 100 cents for each so cents
worth Of their product they shall bring
to the miRts; but I cannot see how the
rest of us are to be benefited by their
enrichment at our expense.
Il can readily understand how the
coal operators Of Fairmont would be
benefited If the government were to
guarantee TO coal mine owners OF the
country cash on delivery at double the
price they are now receiving for their
entire output, requiring all the people
to burn coal at the increased price; but
am at loss TO conceive how the con-
sumers Of the coal are 70 be benefited.
Il occurs to me that il is a ease Of fun
for the BOYS. but death 20 the frogs
Mr. President. let me illustrate the
ehec, in another way: Suppose this law
70 be passed I so TO one of the hanks
here in Pa irnOnt ona horov- S-oa r.