The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-08-07
SPEAKER REED
Uttcrs Sound Sentiments In Favor
of Sound Money.
RENOMINATED BY ACCLAMATION
I'y tho People or Ills Distriet--In Few
Words lie Brings Ont tho Lesson of Ills.
tory TO Prove that this Country Cannot
Enter OH tho Free and Unlimited Coin.
ago OF Silver singie,IIanded-Siiyc
Are Not Dimetnliists rs they Claim.

PORTLAND, Nc, Aug. 6.-Thomas B.
Reed was to-day rcnominnted by accla-
nation for Congress by the Republican
convention OF the First district. 1t Ia
the tenth successive term FOR which Mr..
Reed has been nominated. In putting
Mr.. Reed in nomination. Wllfrcd Chap
man EXPRESSED regret that he was not
the presidential candidate OF his party.
But" he said, I'VE are broad enough TO
put aside feelings OF disappointment and
we arc now looking forward To the time
when Mr. Reed will become the Repub-
llcan standard bearer, and rs President
OF the United States will still further
honor his district" Hl
After tho nomination Mr.. Reed was
escorted TO the platform amid loud
cheering. He seemed to be considerably
affected by the ovation. Mr.. Reed
thanked the convention for the unani-
nous nomination, saying that by so do
ing h- had been relieved NJ the duty Of
attending to his district and given the
opportunity OF paying attention to the
wIctedness OF the rest OF the world.
Continuing Mr.. Reed said:
"Iou hear n great deal about bl-metal-
lism. The platform OF the Chicago con-
ventlon was not a bi-metallic platform
and don't let them try and make you be-
lIeve that bi-mctalllsm IS what they arc
after.
what is the object OF bI-mctalism?
The object Ia TO give to the currency
tA,- at,H l,.-. \ HfFNfr '
more surface. Real hi-metalllsm has
never yet had fair trial. mean inter-
national bi-metullism, and that Is the
kind we must hive, because. as l said to
you at Alfred, II this Is n disease at oil 1t
Is n world disease and has got TO have a
world remedy. Nothing else will attend
to II. (Applause).
"Why, we had some experience in this
country but mems memories are short.
In l7S2 our earlier fathers determined TO
marry the two methods together What
was the first thing they did? 1t was TO
ascertain the market value of the two
metals as they stood side by side then,
and they thought that they were 10 to l.
not 16 to l, but 10 to 1. What was the
effect? II was an generalization OF sll-
yer. Yes, the gold In n gold dollar was
worth more than the silver In q silver
dollar.
What was the result? Why. Il man
had two dollars, one OF which was worth /,
100 cents and the other was worth lO2
cents. he kept the hundred and two cent
dollar longer and passed OF the other
one quicker. (Applausel.
81 don't mean that the average man
did that Two cents on a dollar, even
In those dollars. was not worth making !
such fuss about. but the money, chan
gers were on the alert and whenever
a silver dollar came into the bank or
reached the money changers he put 1t
out OF circulation.
An Object Lesson.
II have misstated; should have
said that gold was moro. valuable so
that We had silver alone during that
period The gold being more valuable.
fled away. Well, now, the gold d!sap-
bearing, our fathers in 1894 thought
they had better make n change and see
II they could not keep gold and silver
together; SO they changed the ratio
from Is TO l. or.to be exact, to 1888 to j.
That turned out TO be an ovcr-valua-
ton, the other way, and what was the
result?
"The result was that gold reIsned SUI
preme.
Then in 1861, We had war and we
issued grecnbncks and Grecnbacks be-
inS cheaper for seventeen years, drove
out both gold and silver. but in 1879 we
resumed specie payments and the re-
suit was that we resumed them as we
agreed 10 do in 1873 upon a gold basis.
And TINT has been the case ever since.
This. then, Is the experience of the
United States encountering single
handed the question OF currency. we
never were able, when there was dif- 4
ference of two or three per cent to keep
the one metal alongside the other. 1t
was always either gold or silver. never
both. Now, II the United States then
could not lift silver dollar that was
worth only two cents less than the
gold dollar, can she now life a fifty
cent dollar to the height of n one hun
dred cents?" (Applause.)
Following Mr. Reeds speech the
committee on resolutions reported and
the convention adopted strong en-
dorSemcnt of the action of tho st. Louis
convention, pledged loyal support to-
Mckinley and Hobart and TO the can
didatc for governor, Llewellns Pow
crs, and closed by pledging the first
district to make Mr.. Reeds election as
nearly unanimous as possible.
..ETs