The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-08-07


"a All articles of export and import
would at 0nce advance In price in Il
measure equal TO the premium on gold.
Suppose that free coinage increases the
commercial price OF silver somewhat,
and that the bIll!on value las distin-
guishGd from the coinage ralue) of the
dollar advances to GO cents. The gold
dollar would then be worth 10 cents
more than the silver dollar, and all cx-
portable and improbable commodities
would advance In the same proportion.
rs their value would be fixed by the
worlds market. where gold would on
TIME TO be the standard OF value. The
advance in other articles would proba.
bly, he less rapid. hut eventually such
articles would adjust themselves 10 the
premium on gold.
t2) rs wages Will not advance so rap
Idly nor In all probability anywhere
near as heavily rs prices, consumers
Will have 10 curtall their purchases,
and this will cause many manufactur-
crs and merchants 10 fail. md a large
number Of wOrkmen to be thrown out Of
employment The situation would not
be analogous to that of lS60-1SG5 In this
respect. because we then had n great
raj on our hands. with enormous arm
les In tho field to be fed and clothed and
equipped with arms and ammunition
and all the appliances OF war. Wars,
while they last, are apt to mako busi-
nPS9 brisk and prices good, as see the
result OF the NnpulcOnic wars OH Eng
lish trade ut the beginning Of the pres
cnt century. Our civil war: by strip
ping the country OF Its Drawn ind SIN
ew for army purposes. caused a search
~ of labor, and consequently better
wages, than would otherwise have been
Obtni2cd. But ven under these cir
culnstanccs prices advanced between
two n three times as fast rs wages
and great lIardslllps resulted to the
masses. Undoubtedly a great many
manufacturers became rich, but 1t was
the val and not the ~Grecnblck that cna-
blGd them to do SC.
CD There would be a lCssencd rath-
or than IN Increased demand for labor
at the start, and probably for n long
time, Labor falls under the law OF
supply and demand fully as much as
anything else.
o. It may be natural, but We
hope not. IT may be natural for a topper
not to consider the delirium trcincns
which VIII comcnto him II he goes on a
spree.
81 II the government should keep
It's promise TO maintain the two met
ais on a parity with each other gold
will speedily vanish. The national
banks will hold on to theirs with n
firm grip Gas every man would do, II
he had any. and possibly sell 1t later
on at a high premium.
tG.) No time at all. At the highest
estimate. there IL not ovnr $GOO,O DOC, 900
gold In the country. Just Imagine what
the weekly pay roll OF all the Industrial
establishments of the country must
amount TO. and nsk yourself how FAR
5000, 900, 900 of gold would go, even II 1t
were all accessible. which Is very far
indeed from being the case. None Of tho
gold paid out In wages would return to
circulation II We were on n silver basis
(as q matter Of fact, mono would be 30
phid out); It would all be sold as bull
Ion for the sake of the premium,
(T.) In lIue OF n specific contract be-
tween n workman and his employer
that wages shall be paid In gold, there
Is mn implied contract that they shall
be paid In lawful money Govern
mcnt bonds are payable In colin"
which, nj the time the outstanding
bonds were sold, was supposed By cv-
erybOdy to meal gold. Hence the gov
crnmcnt could not refuge to pay them
in gold without d"lshon0ring Itself.
81 One reason IL that everybody
who has had my gold during the Inst
fOw yenrs has parted with 1t with re-
luctlncG, owing To n fear that We, were
drifting toward Il silver basis. Formerly
The government used to receive a very
lnrGe part of ftB receipts In gold, but
for the last few years the payments