Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1896-06-19

mointala ptics tpSh ssiiSca ! i ecScmmodity
which would give. itia. profit entirely
dispnoportiooca 10 thak earheA by the
average enterprise, Yet the .sdSdcates
o. free coinage 81 silver alta. IoSai ratio
OF sixteen 10 one, although The com
mcrciaf ratio is.tklSty.ohe TO HnS, ~,
We are therefore confrohted with 4
proposition 10 change tic meaning of
tlie dollar from 23.ee vraihs of pold 20
STIN gralns ot siiset. AZ s1in eraina
OF silver aFe worth oaiy about ~ grains
os gold. !, ia practically h proposition,
at single l,iov,, tS fSdtiSe The value OF
dollar oneshali,
1t ia u movement hoEe t6dIcal than
one ia reduce openly the bhhion In a
gold COLLAR 10 n grulhs, Tiie would be
step dangerous, but definite. No one
knows whataTlH grains OF silver would
be worth under free and unlimited coin
age. IL Is Impossible Go say W neither the
Increased demand for silver would carry
a3lA grains of silver soSnewhat above
u grains af gold. or whether this in
creased demand would shortly prodnce
diSproportioned increased supply and
carry the value Of 3TlH grains of sill
yer somewhat below IL gruins of gold.
am awure ;hat the advccntes of free
Souage OF silver object to estimating
The value OF silver In gold. but all IN
teruatpnal trade Is measured by grains
ot gold. No irattcr what system we
adopt. unless our inlcinhti6nal COM
lnerce IS abandoned. our dollars will be
actually measured 10y gold. even though
Ne hN them upon n silver standard.
The movement for the free and un-
hmit"d coinage OF silver is therefore
an effort not only To reduce ,hc value of
n dollar about onc-hnlf, hut To leave ~
in state of uncertainty. II threatens
2 complete change in The incoming of
the tcrm dollar io some meaning In the
ncighburhcod OF onc-half it's present
meaning. II threatens an entire change,
OF the value of the tcrih by which con
traets and crvdi;s are estimated and by
which bushcse ls conducted % ....,
In every country where progress and
prosperity 1te found The gieat bulk of.
business must d"pend upon credits The
credits are est mated IN dailar6, and,
whatever crcaics "a doubt as 20 the mean,
Ing ~ dollar must. tend to supptcsa
business. Tho mere threat Involves nm
cc'tainty. and this uncertainty mustba
removed 60 bring back TO busincss nor.
NAL prosperity.
To appreciate the importance 90 re-
mm'rg d'rOi upon this subject, con-
icmpldtc briefly, the proccss ~ tcaCiia.s
tile. proposed .ilvcr staldaFd. We Saw
Ia iSDJ parc;y sta of biisiness, In large
part produced by the threat Of q olives
atpndaid. .....-...
~ q pre- sidcnt and SongrcEe %shXktsct.
cd In Novembrr cominittsd 10 iilS ,treas
huH unlimited cdlhRge bigTtL ,kpaind.
of silver Into dolihrs. hchity ,siS iiioktlla-
WOULD btiss before they could be In.
edguratcd and six months. more before
the proposed Legislation could become,
law. During that time creditors would
scek To protect themselves against be-
Ing pnid Ia dollars worth only about
ID grains Of gold. and they would en-.
deavor TO make collections before the
unlimited coinage OF deprecated dollars
began. The debtors would not DO ILL.,
lowed 10 remain debtors Until they could
get the advantage ot PLYING off what
they owed at SO ,behts t,h the dollart.
they would DO, forged t6 iihAtdIotS
settlementS. sBeriffs Rhd coastahIea
would .oel ilpoh them without delay,
pepositors Ia banks would withdraw
their money. The large merchants.
forced to settle their foreign indebted..
meas; would lhalst upon isume5Iats pay
i1eiits 81 debts die ftoih stnaIleh nerc
thabtF, The sinRiier tiekSRaH{s IN turiki.
would be compelled tS f6rce coIlections.
from their custdhefs; The great vol
!ime Of business conducted upon credits
Nould ccase. -.,,
Manufacturing enteypfises could not.
afford TO continue blisIness or mako
contracts until the value OF the neIy
dollar could be settled 81 the. dStermi-
nation OF Just what JTrA grains of sill.
yer woiild prove 10 be worth. Manufac-
tories would close. Business houses
would fail. Banks would be raidcd..
The unemployed would be numbered by.
millions. The farmers would find few
purchasers for their products. Want
and famine ,wonld pcrvade the land.
a. the end OF Il few years. when BUSH
ness settled down TO the new mean
ing of "A dollar, fluctuations i'm the com
mercial price OF silver would still keen
our dollars OF uncertain value and hinder
domestic trade.
Bus 'ners interests, reachin1 from tho
fichest banker 10 the poorest paid labor.
or, require the removal OF all doubt
about the meaning OF a dollar. Noman
should be tr6isted even with an impor-
tant nomination whodoes not recognize.
thut the value OF q dollar Is now meas,
';fed by 2S22 grains of GOLD, end who
Is not willing 10 openly declare dis pnr-
pose TO help keep II there.
The cheap Money wiiI-o'-the-wIsp.
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