Greenbrier independent. [volume] (Lewisburg, Va. [W. Va.]) 1859-1980, 1896-08-27
DelusiOn About SiIyerites.

The courtiers of Louis XIV were
paragons Of political wisdom when
compared with the Democratic lead
ers on Wall street who are trying to
defeat Bryan. Wall street needs ad-
vice from a Turgot, not from Mark
Hanna.
The average financial man is un-
der delusion that those supporting
Bryan propose to coin both metals
regardless of the market ratio which
may exist. Nobody, who had in
fuence at Chicago, ever talked such
nonsense. The proposition is, that
opening the mint will so appreciate
silver and SO depreciate gold, that
presently one grain of gold will not
buy as much as sixteen grains of
silver. Our insistment is, that the
market value of boycotted, demone-
tized silver, does mot indicate what
will be its value when restored as a
money metal. Our proposition is,
to open the mints first, and then fix
a coinage ratio to correspond with
the market ratio which will then
exist. The government cannot or
dain what shall be the market ratio :;
the only function of government is to
make the coinage ratio correspond
with the commercial ratio. Con-
gress will make a coinage ratio to
correspond with the market ratio
which will prevail when the Ameri-
can money unit is restored to a dol
lar consisting of 371 grains of silver,
and when the government offers to
coin into dollars all the silver offered
at the mint. This, and this only is
the intendment of the Chicago plank.
1t is fruitless effort to mislead ig-
norance, to say that bimetalists ex-
pect Congress to decree that sixteen
grains of silver shall be worth as
much as one grain of gold.
Busy bankers are apt to form i'm
pressions by glanciug at newspaper
headlines. Many such men are
under delusion that we propose
policy which would result in dol
lar whose bullion value, if expressed
in silver, will be less than if ex-
pressed in gold. They are under a
delusion that we propose a silver
coin whose bullion value will be less
than gold coin of the same de-
nomination. We propose nothing
of the sort. If the market ratio is
sixteen to one, then dollar ex-
pressed in gold will mean % grains
of gold; if the market ratio is
thirty-two to one, then the dollar
expressed in gold will mean 1.6l
grains of gold. No one regarded by
neighbors as thinking man, be-
lieves that any Congress would fix a
coinage ratio different from the
market ratio.
Bimetalists stand on the accepted
principle OF political economy that,
"giving q commodity new use in
creases its value" If way was
discovered to turn wheat into butter,
then a new use being given to wheat,
its value would be increased. A new
use was gwen to gold when it was
made the exclusive money metal.
This new use increased its value.
Restoring silver as a money metal
gives 1t use 1t does not now have.
This will increase lts value. Giving
this new use 10 silver will take
away from gold as much value as
was added by making it the exclu-
sive money metal. The value, thus
taken from gold, will be transferred
to silver. The function Of money
will then be performed by two
metals. instead Of by one metal only.
1t is absurd to suggest that the
wisest and best informed men in
this Union propose to ignore the
fundamentals Of sound finance. We
have had in the Democratic party
small body of dangerously rich"
men, who mistake profit for patriot
ism, and who are welded to the doc.
trine that every proposition is un-
sound which may lessen their oppor-
tunities to accumulate property.
The party rebelled against the rule
OF these men. They were over
whelmIngly defeated in every Dem
ocratic primary where the issue was
made. 1t will not do for these men
to denounce as cranks" those
Democrats of dignity and standing
In every community who are most
honored for patriotism, respected
for brains and trusted for integrity.
In all the attributes which merit
public confidence, men like Boies,
Daniel and Teller compare favor
ably, to say the least, with the finan-
cial magnates who are now under u
delusion that they are the only sur
viving statesmen and defenders of
American honor. The country
doubts the sincerity of certain gentle.
men, conspicuous for private wealth,
who now profess to believe that the
wisest, best informed and most pa
triotic men in this land have sud-
denly gone crazy and become anarch-
lists. 1t is safe to say that we find
against the gold basis, ninety per
cent. Of those in every community
who live outside of oblique meth ods
and are. regarded by intelligent
neighbors as impartial and accurate
thinkers on public questions.
Bryan will undoubtedly be elected
If certain facts which stand out in
bold relief are brought home to the
understanding of the rank and file
Of voters.
1. If the value of the Ameri.
can money unit, or dollar, is doubled,
then 1t will require double the
amount Of labor or property, to pay
taxes and debts.
2. The single gold standard will
double the value of dollar. No
man is such fool as not to see that,
If gold and silver are both money
metals, we shall have double as
much money metal as with gold
alone.