The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-09-04
SILVER QUESTION.
An explanation OF why silver DOE. 70,

An Explanation OF W wy silver DOES Fot
Advance.
One OF tho remarkable features OF the
present status OF the worlds finances
IL the entire absence Of any confidence
among men who POSSESS capital for In
vestment that the free silver agitation
In the United States affords an oppor-
tinity to reap a profit BY investing In
silver, or In silver securities.
mot even In the United States Is there
the slightest disposition to buy silver,
or to hold silver, in anticipation of
rise OF the metal. Even the miners and
the smelters OF silver, who might be
supposed TO have more confidence than
any one else In the success OF the silver
cause, are. not showing my Inclination
to withhold silver. from the market, so
as to profit from an anticipated rise In
values. Silver. continues to pour forth
on the markets OF the world In as great
quantities as lever, and, instead of a
strong market, which might naturally
be expected to result from the pros
beet of an increased demand for silver.
In the United States, there has been a
decline OF nearly three cents In the val
ne of silver during the past few days.
The value OF the Mexican dollar, of
course, has fallen with silver. IT has
sold ms high as 5SS cents recently. The
New York quotation yesterday was
5lY cents.
On the other hand there Is a very
general disposition to hoard gold, and
to transfer funds from American banks
to banks In other countries where there
is no danger OF a sudden decline In the
value Of current funds.
There are thousands OF individuals in
America with q speculative disposition,
who are quick to invest money In any
sort OF commodity which appears to be
likely to advance In value and afford
them a profit. The mere suggestion of
n crop failure anywhere In the world
lcads-many otlthem to buy wheat for
an advance. and this speculative de-
mand advances the price of wheat at
least Temporarily. They go into the
petroleum market, and the cotton mar
ket, and the stock market, whenever
there appears to be a prospect OF an ad-
vance In these markets. But with this
country face to- face with the possible
adoption Of a silver standard, there Is
not even enough OF the speculative buy
Ing of silver to maintain a stable price
for the metal.
There are three possible explanations
OF this interesting circumstance. One
is that people who possess money for
Investment have absolutely no doubt
that the free silver party will be de-
feated In the November election. An
other Is that they anticipate such a
close money market as a result Of the
silver agitation that they expect to be
able TO make more by loaning money
at a high rate Of interest than by pro-
! fitting from whatever advance may oc-
| cur in silver. The third explanation Is
that they have not the least expecta-
tian that a free coinage law In this
country will advance the value OF sill
yer. In other words. they expect that a
disc composed OF 412llk grains of silver.
stamped free OF charge by the United
States government. with the name.
|"~dollar" on 1t, will be worth no more In
comparison with 25.S grains Of gold, or
a bushel OF wheat, than a similar guam
.tity of silver is worth In the form OF
bullion to-day.
ThoseSwho enjoy pondering on alb
struse questions as to what makes VAL
ue, "a select for themselves he ex-
PLANTATION which seems most rational.