The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-09-29

CNlIullOU u NlU DtIOEt, uthlIOAtU ny
their action any important proportion
OF tho money Or thls country, not MON
tlonlng that OF thn world?
80 far aS the United States II con-,
ccrnrd II ought to bn sufficient roply
to say that against the $40 100000 COIN.
cd prior 10 1879 nearly $500, 900 have
been coined since. IN the world IN
1873, there was $1,000, $1,000 IN silver
and $1,000, 100000 In gold In circulation
rs money, The statistics that are nC-
ccptcd ny tho moRt reliable, indeed |
do not know that any material rarla-
tion.ls shown In nny OF the tables. show
there II now circulation OF St,000,000.
900 Of silpcr,tho Increase since 1878 hav-
Ing been s?,9O0,OO0. 600. .,,,.......
Fi,rd Haiio nr Silver.
~ want to call your attention TO mn
other very important fact to Consider In
this connection, that The production Of
silver for the term stated was $a.6e0. OOO.
900. Nearly 30 per cent or the prOuuc.
ton OF silver has gone Into money. IN
YOUR ESTIMATION. THEN Is
THERE ANY Basis FOR THE lE-
LIEF THAT THE DEPRECIATION
IN THE PRICE OF SILVER HAS
BEEN CAUSED BY IT'S DEMOSETl-
XATION by THE UNITED STATES?
II would seem to me pretty clearly pro-
ven from these figures that ~ far as II
was possible 10 protect n metal from
depreciation by itA use Hs money that
protection has been afforded to silver.
"lf, ms claimed. Onc-hnlr Of my great
proportion OF metal money had been de-
strUycd by the act Of 1873, or any action
Ut this or any other country, there would
have been some basis for the claim
that money had become de0rer and
consequently commodities cheaper, but
the fact that the total metal circulation
In 1873 was ti,S000OO,OOO. while II was
&.lO0,0OO,000 In 1891, dlsp"ovcs that
claim.
There was a period when silver was
per ounce or per pound OF greater value
than gold. Through centuries II was
exchanged solely for other commodities
by weight and iincncss Rpd at the ratio
OF value TINT cxchanHers or Traders put
upon It Governments first stamped
these two essentials OF weight and fine
ness on the pieces that were used az
money, attempting no establishment or
values one to the other. Without In
reference OF other than the natural
laws OF trade, the value OF silver de-
preciatcd until 1t was worth by weight
one half. One-third and at times almost
any other rutio up TO eight or ten that
you could name. In later period gov
ernments did FIX rutios and they may
have influenced commercial values TO
some extent. But they could not and
did not successfully establish and main
tain fixed legal ratios between silver
and gold thnt We're commercially OBJ
served. and II You will take the trouble
l. IA Cd II IL. 1
ratios followed the commercial values
when they changed rather than the re-
verse which YOU are now asked Ia be-
llcvc.
1T is claimed that the circulating mo-
dun OF this and other countries has
been almost constantly reduced since
the decentralization OF silver. and II the
first claim us To the destruction OF one
half OF the metal money had been cor
rect 1t might prove this last one. In
1873 the circulation per capita in tho
United States was about SIS and to-day
II Is ovsr S2i. II Is claimed as Il result,
OF this decreased circulation, which did
not occur, that the rich IRE growing
richer and the poor poorer, that the
great mass OF common or plain people.
us II Is usually expressed. are suffering
conditions OF almost extreme poverty. I
do mol mean to claim that THERE HAS
NOT BEEN SINCE 1899 \ GOOD DEAL.
OF SUFFERING ~ THIS COUNTRY
BY THE WORKERS OF THIS COUN-
TRY. We know TINT right here In our
own midst there has been that, but we
can go TO the homes Of men that are to-
day involving themselves In debt TO buy
the necessurlos OF life, or possibly una
BILE TO do so through want OF credit and
FIND EVIDENCES OF PLENTIFUL.
COMFORT THAT EXISTED But a
FEW YEARS AGO. We cun meet n
man on the street who will ask us for u
nickel, a dime or quarter who has on
his hnck. though thrcadbare. coat as
good az the best. the heritage OF better
days. and that wore not so long ago.
Then and Now.
For few years the Inquiry has been,
When will No !. or No. 8, or the bar
mill. or the GIGht-inCh. or some other
mill start" PRIOR TO 1883 IT WAS
AS USUAL TO ASK WHEN ARE YOU
GOING TO STOP AND LET US HAVE
\ REST: WE ARE TIRED AND
WANT a REST With the exception
OF few short periods when there was d
difference as 10 wages, ovcry man who
has worked or Is acquainted with the
conditions that governed tho old Stand.
ard or old Aetna mills knowg' that no
time wns lost, and every effort made Ia
get out the last pound Of material. 1T
WAS NOT THE PRESENT STAND
ARD OF MONEY OR DEMONETIXA-
1lOS OF SILVER THAT CAUSED
THIS OR FORMER DEPRESSIONS.
These two mIlls that have referred to
were not exceptions 10 the general rulo
You men know. and know, that iron
mills fairly well located. fairly man
aged and with sufficient capital were
PROSPEROUS ON THE WHOLE FOR
TWENTY YEARS FOLLOWING TIL L
Decentralization OF SILVER.
Commodities have unuurstlonabIy
become cheaper, but not to an great cX-
tent as would he made to appear by
most of the advocates OF this cnusr
Wheat Is more frequently referred IA
than any other agricultural product by
them and 1t Is fair 10 assume from tho
fact that II declined moro than my
other II IL hardly necessary to call ut
tcnt!on 10 the wonderfully Increased
acreage OF wheat growing lands in the
md other Countries, or 10 the wonderful
~ improved and chrapcncd machinery
that now takes the place OF manual Ia
Dor. The price OF wheat, II II claimed
by ODr OF the great political parties, or
any other exported article, Is fixed by
the value obtOinGd In the country to
which It IL exported London Is the
great market. and there TIE AMER
lCAN FARMER HAS TO MEET THE
COMPETITION OF INDIA, RUSSIA,
AND THE ARGENTINE REPUBEIC,
running against the product that Is
grown by labor incOmpm'ahiy cheaper
thnn that OF tn" United States. No
MONEY SYSTEM WILL PROTECT
THEN AGAINST THIS. II IS not ne
cessary TO admit. and would not. that
the value OF the exported article is en-
tlr"ly fixed by the market In which It Is
sold. Exports OF food products from the
United States are fixed by the COngump-
linn a lnlnn md thn nraunnrltA II