The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1896-09-11
He Stands
FOR HONEST MONEY.
M'kiNLsNsAsle DISCUSSION OF THE
MONEY QUESTION.

No Debasement Of Mouey-No Repudia.
Sion OF Debts-Fres Coinage Imperils
the Nations safety-woriingmsn and
Farmers Have Most at stake .Good
Money Never Made Hard rimes.~
Major Mckinley g letter of acceptance
Il as sound as gold dollar. The fol-
lowing are some OF his best points:
what'Fr Coinage Means.
The character OF the money which
shall measure our values and exchanges
and settle our balances with one another
Z and with the nations Of the world is Of
such primary Importance and so far
reaching In its consequences as to call
for the most painstaking investigation,
md in the end sober and unprejudiced
Judgment at the polls We must not be
misled by phrases nor delnded by false
theories. Free silver would not mean
that silver dollars were to be freely had
without cost or labor. 1t would mean
the free use Of tho mints of the United
States for the few who are owners OF
silver bullion, but would make silver
coin no freer to the many who are en-
gagged in other enterprises.
1t would not mako labor easier, the
hours Of labor shorter or the pay better.
Itwould not make farming less labori-
Gus or more profitable. It would not
start factory or make o demand for IN
additional days labor. It would create
no new occupations. It would add
nothing to the comfort Of the masses,
the capital Of the people or the wealth
Of the nation. It seeks TO introduce a
new measure Of value, but would add
no value to the thing measured. It
would not conserve values. On tho con.
trary, it would derange all existing val
mes 1twould not restore business con-
fdence. but its direct effect would be to
destroy the little which yet remains
The meaning of the coinage plan
adopted Mt Chicago is that any ono may
take quantity OF silver bullion, now
worth SO cents. to the mints of tho
United States. have it coined at the ex-
pense of the government and receive for
1t o silver dollar which shall be legal
tender for the payment Of all debts, pub
lilo and private. The owner Of the silver
bullion would get the silver dollar. 1t
would belong to him and nobody else.
Other people would get it only by their
labor, the products of their land or
something of value. The bullion owner,
ON the basis of present values, would re-
ceiye the silver dollar for 53 cents
worth of silver, and other people would
be required to receive it us u full dollar
In the payment of debts. The governs
mcnt would get nothing from the trans
action. 1t would bear the expense of
ccining the silver, and the community
would suffer- loss by its use
Silver Dollars Now ON q Gold Basis.
We have coined since 1878 more
than 400, 900, 600 Of silver dollars,
which IRE maintained by the govern
ment at parity with gold and are full
legal tender for the payment of all
debts, public and private. How are the
silver dollars now in use different from
those which would be in use under free
coinage? They are to be of the same
weight and fineness. They are to bear
the same stamp of the government.
Why would they not be of the same
-ynlue? 1 answer; The silver dollars now
in use wefe coined on account of the
government, and not for private account
or gain, and the government has SOL
EMMY agreed to keep them MS good us
the best dollars we have. The govern
ment bought the silver bullion Mt its
market value and coined it into silver
dollars. Having cxclusivecontrol of the
mintage, 1t only coins what it can hold
at parity with gold. The profit. rep
resenting the difference between the
commercial value of the silver bullion
and the face value of the silver dollar,
goes to the government for the benefit
OF the people.
Farmers and LAborers Would Suffer Most
If there is any one thing which should
be free from speculation and fiuctuation,
1t is the money Of country. 1t ought
never to be the subject of mere partisan
contention. When we part with our la.
Dor, our products or our property, we
should receive in return money which
IS Us stable and unchanging i'll value as
the ingenuity Of honest men can make
1t. Dehasement Of the currency means
destruction of values. No one suffers so
much from cheap money rs the farmers
and laborers They ARE the first To feel
Its bad effects and the last to recover
from them. This has been the uniform
experience Of all countries, and here as
elsewhere. The poor. and not the rich,
are always the greatest sufferers from
every attempt to dcbase our money. 1t
would fall with alarming severity upon
investments already made, upon insur.
nnce companies and their policy holders,
upon savings banks and their depositors,
upon building and loan association
members. upon the savings of thrift,
upon pensioners and their families, and
upon wage carners and the purchasing
power of their wages.
..Good Money Never Made Times Hard"
1t is mere pretense to attribute the
hard times to the fact that all our cur
rency is on gold basis. Good money
never made times hard. Those who us.
sert that our present industrial and
financial depression is the result of the
gold standard have not read American
history Alright or been careful students
of the events of recent years We never
had greater prosperity in this country,
in every field of employment and indus.
try, than in the busy years from 1880
to 1892, during all of which time this
country was on gold basis and en-