West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1896-07-23
KINGWOOD, w. Va, THURSDAY, july % 1896

IN this country, "the dumping
ground Of silver for the whole
world" That siren song has ceased.
Now they sing u song Of dearth,
extreme contraction in ease flee
silver prevails. The Z. NJ. Gen,
eral sings it too. 1.-The first esect
of free silver would be to drive out
of circulation tho s625, 900, 600 of
gold aud to sink all silver and pa.
per money to the standard of the
silver dollar. There would be A
shriukage at once of our currency
of two-thirds of the present pur.
chasing power or money efficiency
by tho disappearance OF over SGO0,-
600 900 Of gold and shmnkage i'm
value OF the other 81 900, 900, 900
to one half it's present value. The
first step, then, would be to con.
tract ourcurrency from 81, 900, 600.
600 TO about $500 600, 600 in pur-
chasing power. Along with this
contraction, OF course, would come
like contraction of debts, salaries,
wages and all past obligations. -
How uukind it was in them to
scare us with an approaching flood
and not tell us till now about this
awful contraction. The above quo.
tatiOn is not easy to understand. /
| would like to have it explained
more fully. Whele would the gold
go! Is it owned in Europe ? Do
we owe 1T to money kings across
the water? Nobody wants gold de-
monetized if silver is restored as il
was prior to 1878. Isn't that
gold scare-crow How could all
past obligations aud debts be con-
tracted Debts are fixed. We arc
now paying faoe value of old debts,
but double value in our products,
that ls, II takes twice the labor to
pay a debt that it did upon diff
terent basis. If the effect of free
silver would be TO diminish our
money volume to one. third its
| present volume, then IL would re-
qnire three times as much labor or
produce to discharge our gold debt
AS it docs now. Debts aud past
obligations are fixed, but the dol
lar of discharge may be inflated or
contracted in value. But that fee
ing away OF gold is its historic
cowardice. When most needed for
the ends Of patriotism or the pur-
pose OF business il is gone and not
TO be mad. 1t fed in 1860. Let
It flee again. GreeIbacks took it's
place aud tided the country over
the shoals Of dlsinum berment. The
people Of this country want cur
rencY that cannot be- Withdrawn in
q day and the direct calamities
visited upon them. That is one
reason they cling TO silver. That
ls one Ieason why they de-
sire the present banking system
repealed and the national govern
ment to issue their money. No
man or set Of men should DO al
lowed to control the money volume
OF this country. 1t should be in
the hands Of the people, if they
arc to remain a free people.
OF the learning and honor of the
p. NJ. General entertain the
highest respect. would not wish
to attack ono whom the people
have 50 often honored with their
ballots. This article is not intend
cd to be personal at all. However,
the arguments advanced 1 con1ider
fallacious and misleading, and so
raise my stick and let them have it.
do not claim to know more than
all President Cleveland's cabinet in
their propaganda and labor Of love
to convert the people to the gold
hardship standard, but claim my
right as an American TO express an
opinion OF my own.
had intended to say before
closing that parity of the Two met
ais or Concurrent circulation" to
use the +. NJ Generals euphomism,
does not seem difficult. Let the
government freely coin both metals;
that Is, fix tho price on each at tho
ratio OF 1G Of silver 20 j Of gold at
100 cents each, aud then take all
Of each that comes. Then with
foil legal tender properties and
equality before the taw tho metals
can DO kept as closely together as