The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-09-08
FOR SOUND MONEY.
Why the National Glue Manufnc.
turcrs Oppose Free Silver.
WOULD MEAN DEATH TO TRADE,
For the Change Could Not bc brought
About without ranio--crl,l. OF tho
iio"r--E,trnc" from thc Annual Att
dire. OF the President OF the Associntio,,.
A0no,a,lom rroip tho Veteran Francis
E!splnMrr.

EsSltuNtEs
At the meeting OF the United States
Glue Manufacturers Association In
New York last week, strong grounds
were taken against the free silver
movement. In HIS annual address the
president of the association, among
other things, said:
The burning question OF the country
at this time, Is. shall It's monetary
standard be changed? Shall We bass
from sound TO an unsound basis?
WIN the voters OF our country arise In
their patriotism and settle the question
In the right way? WIN the majority
OF voters see that cheap money cannot
Improve the condition OF the debtor
classes and wage-carners, II the voters
OF the United States decide on Novcm-
Der ,. that our present money stand
ard Is the proper one, we mny feel as
sured that capital viii forsake Its hid
Ing places, confidence viii be restored,
great movement will cnsue In all the
arteries of trade, and once more we
shall enter upon happy and prosper
GUS business.
On the other hand. II the country de-
cldes that we must try the experiment
OF cheap monetary system, we shall
live In turmoil for years 10 come. AL
lowing that cheap, money elected the
President and Congress. We still have
the supreme court as the bulwark Of
the nation which would uphold as con-
stltutIonal every gold contract. The
hope OF the nation would be in the SUI
prcme court. and long before It's per-
sonnet could be- changed, the people
would be brought to their senses; hut
while the country would be struggling
through these years OF doubt and I'M
certainty, We should be sufferers. Let.
however, the existing standard tri-
umph and our Industry will be close to
a renewed prosperity. We would like to
quote the Views of the. late General
Francis l.. Spinner, treasurer OF the
United States, during the civil war. rs
taken from an article recently pub
llshed In Leslie's Weekly.
Il nm nearly lightweight years old,
and for more than half Il century have
watched and taken an interest In the
monetary and commercial affairs OF
our country I have no interest OF
friends or self to subservP. ] am
standing confronting an open grave.
and expect soon to sink into one. love
my country greatly. and l-love Its peo-
pie more. The prosperity OF our coun-
try and the happiness OF Its people that
now are. and OF the generations that
are TO follow. are the subjects of solicit
tude nearest my heart. cannot bear
10 sink into that grave without giving
this, my last note of warning. IF THE
COUNTRY WOULD AVOID AGREAT
CALAMITY. LET 1T RESTORE
GOLD TO BE THE SOLE STAND
ARD OF VALUES. AND THE CON-
SEQUENT MEASURE OF ALL
Fortify the United States treasury
warehouse silver certificates with
treasury notes OF all denominations,
from a fve-cent TO a thousand-dollar
note, based upon and redeemable from
the gold on deposit In the treasury. Is
sue low interest bearing interchange
able currency bonds.
This currency would not only have
the gold In the treasury. but all that
sIxty-five million people possess. as
guarantee. for Its redemption. Such an
arrangement OF the currency would
constitute the treasury of the United
States Into a safe insurance office
against commercial revulsIons and
monetary panIcs. On the other hand.
an lily constituted and deprecated
circulating medium, Il dual standard Of
values, redundant, inflated currency
based on a greatly deprecated silver
coin. such as the silver cranks desire.
are the she-wOlves that will breed and
litter want of confidence, dIstrust. fears,
failures, and panIcs upon our country.
end disaster and ruin upon our people,
The monetary course now being pur-
sued IS sure TO bring disaster as Eff
Feet FOLLOWS CAUSE. Let the
people be warned OF the danger that Is
before them"
The temper Of conservative manufac-
turers Is indicated by the Instructions
recently given to the statesmen OF q very
large company whose products have an
| international reputation. The manager
having called them together, they ex-
pected to receive a lesson on the nrt OF
selling. with special reference to the
methods necessary In dull times To secure
more business. Their surprise may be
| Imagined when they we're told the policy
| OF the company was TO sell as little as
| possible until further orders. that the
| fewer the sales the more satisfactory II
| would be to the management. The eN
| PLANTATION OF this singular proceeding Is
| found in the fact that the company Is
not disposed TO take the customary COM
mercial risks nj this time. They believe
| In keeping their business under proper
control, and therefore regard existing
conditions as unsafe for carrying m OK
| tensIve line of credit. II Is doubtful
| whether credits have ever been as &C.
verely questioned as now. The CONNER
| cIal fabric has been rudely shaken by
war and by panics. but even then per-
| sonal integrity and an established bus
| mess reputation counted for something
\ when credit was asked on purchases.
Now. however, they mr." not so seriously
considered because OF the fear OF gen.
eral CONFUSION which may cause whole
sale bankruptcy. The word OF an hon
qst man means much even in the m!ds.
| OF financial crisis, and great trunSac-
lions have often been based on lIttlc
| more, but II Is recognized now that the
best Intentions may be hOpelcssly nulll-
| fled by the operation of OvcrpuwcrinS
Influences created by the menace OF free
| silver coinage. But while additional
credit Is being severely curtnlled, len
| Iency IL fortunately being extended Ia
those who are unable, to promptly meet
| their obligations. Debtors are not be-
Ing hnrshly dealt with. but efforts nrC
made to save them from collapse,
| II the secret history Of the business
houses OF the country we're to be written
| Il Is believed TINT greater consideration
would be shown TO- be displayed toward
debtors ut his time than ever before.
While II may b. In accordance with
| sound business judgment 10 take no fur.
Their risks. yet mercy prevails In the case
| of those who are the victims of this un-
| necessary and unnatural depression, sc
that failures are not so frequent ms has
been unprecedented. The commercial and