Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1896-08-06


ing from this instability for some twen-
ty years Il this just?
> Is it not "the Office OF the govern
ment 10 set it Tan unjust money! right?'
And thus TO preserve the balance be-
tween creditor and debtor? And thus
TO save Industry from being crushed by
the unearned increment Of pressure OF
fixed charges CAKES, rates, and inter-
esq? And thus TO preserve the equity
and sanctity of the contractual rela-
lions on which our civilization is based?
If not. them what is the Office OF the
government?
.. from whom are the United States
and Britain suffering disastrous rival
ry? And why? The rivalry comes
from The users OF paper and silver mon
ey.. who were ably shown last autumn,
by the special correspondent OF The
Times" TO be virtually protected
against us by the gold premium BIZ
me.allism would correct that.
t. Apparently "The Times" writer
thinks that a monetary system which;
casts down prices and thus increases the
pressure Of debts and fixed charges on
the producers and the industrious is
just and honest but monetary sys-
lem, bime;allism, which all human eX-
perience proves to be less likely to cast
down prices is "a dishonest trick
.. Or is this the case? Does "The
Times writer fail 20 see any relation
between money and prices; between
money and industry and trade?
6. II so. can The Times" writer point
to a single period In the history of man
kind when prosperous lines" were not
the result of increased supplies OF mon
ey?
I. About March 20 of this year, 1896,
"The Times" critic of book described
Mr.. L. L. Price as an economist of dis
tinction - and expressed satisfaction thar
his just published book, Money In lis
Relation TO Prices" did not recommend
b.metal SIN. Blu; Mr.. Price is bimet-
allist, aud his book, which all should
read. is, from cover 20 cover, a long ar
gumen.atiye statement of the monetary
principles on which he and every able
man vino studies the question" base the
impregnable case for bimetallism.
His chapter on the period since 1873 re-
peaJedly points to the loss occasioned
by the absence of the counteraciing in
tiuence of bime,allism. The Times"
critic either did not read the book or
was incapable of understanding the
simple and clear statement OF the none
tary doctrines which every professor o.
political economy in Great Britain is
teaching.
s. Finally-Does "The Times" wriieV
wish his readers to suppose that the
gold men"-the Republican party and
Mr.. McKlnley-are opposed TO interna-
tional hime.allsm? Gold men" in the
United States aim at International BIZ
me,allism. Si'yerits wish the United
States to adopt bimetallism Irrespective
OF the decisions of other nations. That
is the difference between the two parties,
but no British reader would infer this
such papers as The Times All Amer
leans in the United States" seventy
millions solid for international bimetal-
lism" -wish-F irstly-TO restore the
parity STEADY value in exchange be
tween the money OF 5even hundred mil
lions who use silver as standard money
and the money OF three hundred mil
lions who use gold and also use silver
as standard money Seconily-TO re-
store ard free coinage and use for legal
tender OF silver as we'll as gold. which.
by increasing the available supply Of
metal. Is. OF course. more likely to keen
7 prices stable and serve as a steady stand
ard of value The Times" writer IS
. opposed to the whole United States as
well as 10 the British bina.alHsts. who
include the trained intellec. OF Britain
in matters Of monetary and economic
/ science. Is the action and attitude Of
The Times" credi.a6le or worthy Of a
prominent paper? Or, to paraphrase.
The above words Of "The Times" "Wha.
are we to think Of a paper whose leader
writer gives u;teTance to this stuff?
Every intelligent reader can gauge the
value Of the opinion Of The Times" in
reference 10 the science Of money
money. the mightiest engine to which
mankind can lend an intelligent guild
ance.' | am. sir yours,
ELPHINSTONE v a. MAITLAND.
Bish0ps,oke, Eas;leigh, Hampshire