The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-07-23

CIcNNc Dublnchs, employment ana wages
ThlA would have gone on from campaign
TO campnlgn, but for the fact TINT nftc
long persuasion tho people trusted III,
promlsca Of the Democratic party, mn
hive had period Of tariff for rcyenliI
only. Tho results arc manifest on nj
Sides, II we had not tried Democrat,
tnrin, the Democrats would Btlll be per
auhdlns the people that II was the Onl,
true policy for the good OF the country
Seeing that defeat this year was incvltn
Die on tho tnrff question, tho Democrat
10 party found now Issues. free silver
communism. war on the supreme cOur
ana tho national honor and the nntionn
|'crOdi,.
Tho Republicans warned the people
against tariff for revenue only, and thoy
now warn them against free silver
communism and anarchy. Don't trus
this new Democratic party, whatever
offerings II may bring. A ,tinl OF free
silver would be Just M disappointing n:
our experience with free trade. Getting
something for nothing has never sue.
ccedcd In tho history Of the world.
| Free silver would benefit the owner.
OF silver mines and the owners Of silver
IN Europe. but the FREQ and unlimited
coinage Of silver, ut the ratio OF 10 to !
especially when united with Reputation
and anarchy, viii not open mills and
factories, stimulate railroad building
encourage trade and commerce, md ON.
ploymcnt for the people Mt good wages
nnd make values stable. Just the oppo.
site OF Nil these will surely follow.
Possible Use ofSiivrr rs Money.
have been producer OF silver fni
sixteen ycnrs; naturally am Its friend
and favor its largest possible use ns
money, consistent with sound and stable
currency. My interests would incline
me to favor the free coinage 6f silver II
could zee that II was practicable or pos.
able 0r rested upon any sound principle,
The people now aEltatlnE the silver
question and demanding its free and un-
limited coinage ut 16 to |, when silver ia
only worth Il to |. ure ltS worHt enemies
apart from the injury It would work u
the country.
did nat favor the purchasing clause
OF the Sherman act, brcaugc felt AS a
friend OF silver and citizen Il would In
crease the production OF silver and
thereby lessen Its value In the markets
and destroy confidence In II as money.
This was the result.
There are many silver people who arc
honestly deceived and believe FREQ silver
would be beneficial to the country, yet
they are willing to consider the question
fairly In the light OF facts. They want
Information. with all such people Re.
publIcans are willing to reason and dis
cus3 the subject.
What Does the Free md Unlimited Coin.
ago OF silver Mean!
It means that owners OF silver bullion
in the United States, In Mexico and In
Europe. now worth only So cents on the
dollar or ounce. may take the same to
the mints OF the United States whore
| silver and gold are coined and have the
| United States, ut Its own expense and
free OF expense TO them. coin and stamp
each dollar or ounce and make II n legal
tender and equal In value TO a gold dol
lar. thereby increasing Its value from 6?
cents to 100 cents, making IS cents profit
10 the owners on each ounce or dollar.
Under the free and unlimited coinage
of silver at l6 to the number OF our
minis would have to be increased and
those built enlarged, throughout the
United States. ut 4 great expense. II Is
estimated there would soon be brought
to them for coinage more than 800, 900, 900
ounces or dollars of silver now worth 80
cents on the dollar. The profit on coin
Ing this vast sum, admitting that silver
would not further decline. would be
S@iO,000.O00 to the owners OF this silver
bullion and no one else. There Is not q
man, woman or child In the state OF
| West Virginia. or In any OF the states
outside OF the silver producing states,
who would share In this profit. except
owners Of silver bullion. Are the people
willing TO see this vast profit made by
silver owners and SPECTATORS? Would
1t not be legislation OF the rankest kind
In favor of the few ut the expense OF the
many? The free and unlimited coinage
| OF silver at is 10 /. when It takes Il
| ounces OF silver to purchase / In gold.
| means that by law we can make that
which Is not equal in value. in the mar
! kets OF the world equal. An act OF Con-
| Sress can no more violate the laws of
trade and commerce than It can the IA VS.
| OF nature.
Effect OF Free and Unlimited Coinage of
| Silver.
The first effect would be to cause the
| people to hoard gold because We would
be on n silver basis. Gold would be ut
n premium and would not circulate. This
| would withdraw from circulation imme-
| diately SG2O. 600 OF gold. Such con-
traction OF the currency has never taken
| place and would be ruinous. 1t would
| bring on such Il panic rs the country has
never witnessed. Second, we would
| have iuctuating currency, which all
| history proves entails great losses upon
! the people, especially the wage-earners
| circulating medium that varies in
value from day to day, and no one knows
| us value for n month ahead. can work
| nothing but injury to the people, and all
| persons depending upon daily wages
The nominal rate Of wnGes changes very
| little, with the fall In the value OF cur
rency The laburlng man works for
| about the same wages when money Is
cheap rs when 1t Is good, while he pays
more for everything he buys. The lab
| orinS man, II We have a fluctuating cur
| rency, would have to figure what his pay
would be worth from day TO day and to
find out and look at the quotations In the
market, or ask merchants and bankers,
who would stand ready to make dis
| count, But under our present system n
dollar does not change and everybody
knows its value from day TO day and
year to year. all dollars being made
equnl TO gold
| The government, during the war. was
| Obliged TO pay for supplies In green
backs at n great discount. Sometimes
they were worth only forty cents on the
| dollar. the government losing sixty
cents, because the government after
ward made every greenback worth II
dollar IN gold. making the cost OF the
war. according to Hon. John p. Jones.
the great silver leader. fifteen hundred
| mtlliOns more than It should have been
OF account OF q nuctuat!ng currency.
| 1t Is estimated that our people owe
four or five thousand millions OF dollars
In obligations and bonds, the prIncIpal
mud interest OF which are payable in