West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1896-10-22

~ a. ~ 81 - 49, 49, ~ Att0AN IA ~
BY what sanctions to be enforced?
Who is 10 be the arbiter of interna-
tional disputes upon currency val
ues? Would not any such arrange
ment belong TO that prohibited class
of entangling foreign alliances"
against which Washington fore
warned us? Where is there any con
stitutional authority in Congress to
delegate the power to regulate the
value of our coined money to any
foreign syndicate whatever? Inter
national discussions by delegated
commissions are very we'll, and tend
TO enlighten public opinion upon the
universal principles Of commerce,
and finance. But that the currency
of the world 10 going to be governed
by international law Is a vision Of
romance never to be realized.
So obvious is this fact to thought
full minds, that the people are be-
ginning to believe that you and
Hanna, and Whitney, and Belmont,
and the other gold magnates, are
laughing in your sleeves at the sup
posed credibility of those advocates
of free silver who could be decoyed
and cajoled into deferring remone
tization until England consents to
an international agreement. The
idea of suspending American legis-
lation on free silver until England
consents, is like sitting on the bank
Of the river until the stream shall
flow by. Suppose our forefathers
had delayed issuing our Declaration
ofIndependence until an information
al agreement had been reached?
Where would we be now? Moreover,
the most distinguished bimetallists
OF Europe have themselves abandon
ed the idea OF suspending the reha.
Utilization of silver in the expecta
ton of an international agreement.
They write US applauding tho indie
pendent action of our silver leaders
in striking out boldly Tor ourselves.
Arendt, Cartisclxi, Grenfelt once
president OF the bank Of England,
Prince Bismarck, Bishop Walsh,
Prof. Hefelstein. these great leaders
offinancial thought in Europe concur
ia the opinion that the free silver
movement in America should pre-
cede and not follow an international
agreement--should be the precursor
and cause of such an agreement,
rathed than its sequence and effect.
And the 'plain people" of our own
country are beginning to understand
that the monometallists are the
friends of England as against Amer
lea, and the promoters of private
pelf rather than OF the public veal.
Your next proposition is: Gov
eminent now makes our silver dol
lars by law equal to gold, but could
not if increased"
This statement rest only upon
your own authority, and ] will now
proceed to disprove it. ! have ex.
amined the official reports of the
United States mintage with the most
scrupulous care, and find that there
was coined up to 1S73,an / inclusive
of that year, $1,000 600 of silver dol
lars, in round numbers, and during
the same period, in round numbers,
about 100000 of gold dollars
During the same period, there was
OF silver Of all denominations a total
coinage of $440, 000,0 900 round num-
bers) and total gold coinage of
81 400, 100000. That is to say dur
ing period of eighty years, prior
70 1874, there was coined of gold
dollars about three times as much
as of silver. And yet the parity of
the two precious metals, as stand
ard of value remained undisturbed.
In 1874 the free coinage of silver
Was practically discontinued, and
about the year 1880 it's coinage was
resumed under the Bland Allison
act. From 1880 to 1894, inclusive
/ find there was coined in the United
States about 100000, 900 of gold
and $700,000,00O of silver coinage
value. During the year last named.
1894, there was more than three
times as much gold received at the
mints as there was of silver. The
ratio of gold production is constant
ly increasing over that Of silver, the
world over; from 1880 to 1894, IN
elusive, the proportion Of gold IN
the world commercial value) was
"a billions. and Of silver only little
over 2 billions. And yet you con
tend that our danger lies in the di :
rection Of an over production Of sill
uer. tell you, Senator. this is the
merest, sballowest pretext. me
true object Of 6aaishing sitUer from
or minis is to diminish the rolume
Of currency. 50 that debts may be
doubled IN Defght, oUd credits en-
h0aced IA the s0Dse proportion. This
isadeep and dark conspiracy against
the welfare Of the "plain- people. :"
You have entered, inyoluntariiy I
know, into this conspiracy, against
the prosperity of mankind. When
the history OF this era comes 70 be
written, some future Allison will