The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1896-08-28

laws of commerce. Of trade and Of labor and
| substitute new theories In the place Of old
| laws. think that this nation could have
| done 1t. And yet II Is n cold historic fact
| that we Rave never been able to maintain
| silver and gold In actual circulation side
| by side mt amy nxad ratio for any consider
able time. In 1885. before the adoption Of
| the federal constitution, the congress- Of con.
federation adopted the dollar ns n unit of
account and declared that II contained 1916
| Gi-1OO grnlnS of pure silver. Hold those f,g-
lires ~ your memory Just one montnt. In
| 1872 the congress VI the United States re-
established this silver dolarasn unit. declnr-
Ing that II should contain 2IlL .rnIns Of
the ratio was changed. That same congress
provided that "a i3-lo0 grains of pure s,'d
shorli y. tho Legal A'Ni cn: " this dnl'
ia-. md that wneu coined by III THAT one
rorhd " pure g ID >lonll ',e d,"L,.-l c,I.lv-
H.ent . Ii tm ilds 81 pu"n silver TIE t,..nl
ruti" IN established between The two mt.
ais OF 90 IL proved for a few years 10
bn close eppr si' ~ III 81 the coui,cr.
ella relation cN.-i'1s Dc, ser. thr III, ill4
1.iit aoun CIT, IS % .iat-t became .ln.ni,cr
than gold. Then silver began to be coined
$500 u took 1872 pounds OF silver TO buy one
pound Of gold. Gold went out Of c!rciiintion
as money. was shipped nbroad and the all
yer dollar became the actual dollar Of trade.
There had been coined by the United Stntes
minis up to that time l.4:i9.i5T silver dollars.
Mr.. Jefferson, the apostle Of Democracy ana
the only Democrat whose name Is men.
toned IN the Democratic platform Of this
year. was president lie had approved the
ratio Of TO 10 proposed by Mr.. Hamilton
and adopted In the coinage net of 1882 MIR.
Jefferson believed In gold us well as silver.
ana history conpels me to tell you that this
Democratic president. who Ii the only saint
stlIl left IN the Democratic calendar, OH his
own motion and without any authority by
law ordered the mint TO discontinue thu.
coinage Of the silver dollar. He thought
that he could make gold circulate with sll-
yer at the ratio Of 10 10 by stopping the
coinage Of American silver He thought TINT
was coired, the gold. although more yalua-
BILE. would come ont Of Its hiding place and
a be used ed The fact was that gold dld no.
II abroad. We did not coin silver. and for
clgil nations cent silver here. The Demo
crafts held power from 1900 to 1910 with the
single exception Of the one presidential term
yer dollars coined In the United States from
1900 10 1890. In 1894 congress changed the
ratio between the two metals FROM TO 10
to the present legal rntlo Of to &c. Con-
sress DID this by reducing the weight OF
pure gold In the gold dollar about seven
gralhs, But the laws of trade worked on.
LESS thnn l6 ounces Of silver would then
! silver was the more valuable metal In
trade and as commodity and silver went
owl q the country and gold came In. When
" ,ne ratio o. 10 70 ] silver was less valu-
aple ,Nan gold. gold went out and silver
came ..i IN. When at tho ratio OF 16 to silver
WINS more valuable than gold silver went
GU. nnd gold came in. The metal which was
cheaper at any fixed ratio uniformly and nj
Ways drove the more valuable metal out.
me NO never did circulate In this country
sui ~ SIDE IN any large quantities for any
Sso e. 81 length Of time. These may not
, nS rainbow , theories. They are actual his
.oric facis. When ut a fixed ratio silver was
more valuable II went into the melting not
NJ asd ,, %ns sold ns bullion mud gold used
US money. When gold WIS more valuable II
Went Into the melting pot and was sold as
u .,n! ana silver was used us money. II
MI, my nave been right. II may have been
n M,vsng. y may not agree with Popuist
~. - ,nnt rich men and poor men. bankers.
. .,a ana the plnln people alike have nj
l MMSs nail out the cheaper metal whenever
has madn 's Nv %e h, used us money mud each
M WI. prolt there has been In boarding the
u.vr metal aud parting with the poorer
rnn1s long Long before the finance minister OF
. tried TO coin theory into fact. Inn,
peiore tile French directory tried 10 mike
pa is equal to coin by the persuasive anpii
tIers 4, OF .ns gnllotine: long before our H.
repiidiate ai' u had printed paper which they
hn ,.. nhillhed solomon had written TINT .what
hafh been shall be and there is mo- new Tim.
under the SUM- ~ s .N'"s
" lsi5 less than 1.h0u.0 silver dollars hnb
s i' nseti coined In these United States. md
Imiaoss nii OF these were coined before 1slO
the aheapar , l,l mat no long as gold was
IL. n..s"IrT metal no owner of silver bullion
p,"ughl his silver 10 tile mint for coinage
re preferred to sell 1t In the omen marIiet
minis n .sa quite possible that If We open our
,.,I,,. asaih the owner of silver bullion will
nrihs hls metal for coinage when he can W." ,nt
, ~, ~ Tue mint than he can in the I,,r.
, MI, una mat he Will keep uway from The
than n, tho IN ,r,n c.n Eet more In the market
vi, inihe owner Is u man OF like pnssInns
Win ourselves. and will he moi scli liz
Wt,1 where he eau get the better prc,Y
~ III ~, W Hoi 20 10 the mint M 10 10 wl,e,,
IN Tue market he must give 3o far 4: rWu,
~ mot make ~ ounces by going n, mo MIN,
~ .ne tat!@s should ever change "a that ~
In Tie nnlke Eyer WE Would buy one ounce OF gold
. .liint ail sell In the markctY Is moi ,his
80, nun.l uolhaGe game in which m" siirar
10 lose: "' '" VIII anu never
Would you not like some schen. h,. ,,.,,..,
~, ns government wonld give you 81 4 bns,,a,
lor your wheat: If in the market va,, ce,,i
mud MN a,",t would you not sell In the market
/" WIN inc government? Wl,en in a.
market You could only get no c.n,s ~ ., ,t,n
!ou uo' sell 10 the government nnd a,"it
WY .latketf Gentlemen, 1 ,o mi Min =" -,
,h.,, "Ifu names or suggest unsee,nIy AMI
tnelS. but Is not this free coinage ~ .u rlt.
something o. n bunko game. " s''NeF
ns"iii 20 repeat the suggestion nIr.,d,
~ WIS Is very strong rovern,n.,,;
80, ~ very active, energetic and now,
erini people. W. have seen that W., poW,
ratio OF ~ TO silver was tie ,hen, a., ~.
~ anu gold The deuror. tho gold went ,,.na,,
nhu me silver staid here All ,hc ,,n',a. "" ~.
,.is government, Ivy declaring the ,,,,t
10 20 and Opening III. tnlnts could ~, ".
inAH one single owner II coll buljinn " no,
ms puillnn iulnted when h. cni,i1 -, ~
cents On the dollar by srinu. IIs ..a '.'G ~,
.ne market OF shippin. ii 10 Eurorn ~" A., M
W. power OF this government u.i,, H.,
iitnls open 10 free and unliiniteI "atm,,,a
uDuiu not make one owner ~ .ii,n. -
present his bullion for coinne.when ~ ,,, ~
max" : cents on II by selln. his silvor ~
we market or shipping ii 10 Enrnmn M, ~
nlau VINO has gold The man WIN Itn. nm, ~,
ny man VINO mas wheat will sell that silver
~. ~ aaH mai wheat where he cui, 20,
~, ~. ues, price. III the government owes bir'
~ ~ sol1, 10. silver or FOR what Ii cnn NM.
mn axe deprecated coin or legal ,onJr
pnpeF ~ payment. Hut this r. nm ac, "a,
- anu an cNerclse OF superior notvcr
- n" mas N" gold or the silver or tle ,.hne,
~, Nv SY.cIhinent cannot compel him 10 ,h,,,,
~ stlFer OF his gold or deliver his yvhn,,
49,. $3.50, ,ne government gives to him in r,..
tHtn ,iat winch lie bclict cs 10 he IN. ,,t,,,
" h.s lropcrty Tnleyrnnd was rIeh, ,yh",,
nv s1.u; Us nave already quoted: w.,
IN; , 'hu.cd. ARRANGE 1t 50 that M. n..,i..
snaH W FORCED 10 take Il thousand fr,Tcyi i
paper instead OF n Thousand francs In Co., ~
~, i'nt Wv fnil never arrange IL so th,,
man shan be obliged 10 give n ,bn,,. '''t
francs ia s.ecIc for a tbnus,ud tr',, Nv Nv
papcr- In that fact Ii imbe,I.d - ~. ~