Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1896-08-07
"l4ongsro MONEY.
eo'd tiWs Doubled TIN viiuo WIN. silver
lIns NcmnInNh n bout thu Sumo

I
| Leaving out OF consideration ali.
qnestions OF cause. the indisputabie
met Is that since 1879 the gold dollar
ms just about doubled in value, that
/ Is, in purchasing power Compared,
with the gold dollar OF 1873 the cold
dollar OF 1879 Is worth nearly 200 ccntat
Men do not manufacture dollars for
themselves; they produce other things.
and tho things thus produced they ex..
change for "dollars" In other words.
they buy d,,nrs with commodities.
aud they now have to give twice aa,
many commodities In exchange for a,
dollar ms they did In 1873. On the other
hand, silvcr has maintained practical
STABILITY of purchasing power, and an
ounce of 1t will exchange for very,
neuriN the same quantity of coiumodi-
Ties us II would in tho year last named
briehy stated, gold has doubled In
value, while silver has remained very
ncnrly the sumo And yct the "hon-
est money people, claiming TO .ropre.
sent the financial ifstellisence aud In,
! ,errity ot tho age. stand up In the'
i broad liShtof day md la defiance OF
evcry prSnriplo OF natur,,l justico, ns
wei an OF common sonss, vociicroasty,
claiming that the 20CAcont dollar Ia tho.
! -''S'S NS'hpst ouN .ttittt tibp allVtF
dotlnr Is only worth no cents
How long will the American people4
permit themselves, to he fooled by sucl,
ro'Y IL the Eold dollar had quadsupied,
In value, or had increnscd tcn-iold, tl,t,
champions of that swollen, distorted
and cXtortiounte dollar could and
would be making tho su,no prcposter..
ous c!nim.
We nre perfectly familiar with tho
goldite's nnswcr to this. With endiess.
rcitcrutton no dcclnrcs that no harm isi
done, hccnuso III Il mun must sell fots
less, ho can nlso buy for losE, aud thus
keep even. Can hep How much hue,
MIR. Clovclnnd's snttry boon reduced?
Or MIR. Cnrlislos2 Or n. Uuttcd States
scnntorsp Or the salary of any other
public otlicnl2 How mnch less does IL
cost to run the United States rovern-
mcnt, snyipg nothing .nbout bond
issucs TO maintain II gold rcservo2 How
much hnve taxes been reduced2 How,
much hnve the notes and eonds of tho e
country been d,scoupted because of,
tho greater value OF the money In
which they must now he paid?
IL the mnn who raises whcnt or cot
ton, or produces iron or wool, emu
keep even" on his losscs by making.
h's Purchases more chenply, how about
tile man who loaned IL dollar worth,
IO) cents AMI now collects one worth
twice us muchp Does he not great
deal moro thnn keep even? Does he
not In fact double his money! And IL,
So, does lie not necessarily DO 1t 10 tho
dctriment OF somebody else2 49,. +,
II mency grows In value "a IL not as,
plain as light thot the man who, owns.
or eontrols ngreat deal of IL has an
advantage over those who have but
iitt'e OF IL, OF. none at, aIl2,..W WI. IL bo.
seriously claimed that 10 doubts the
wcnith of II man who has 81. O10. Oo1 in
money, by doubling It's purchasing
power Will add anything TO tho world's
real wealth. Surely not. Then II a
man's wealth DO doubled in that wny
other" must certainly lose by tho same
process. "a. .,,
The argument OF tho gol,, monomct
ullist on this poiut bears upon its face
tho evidcnce OF insincerity and even
dishonesty. II to make money "Jcnrorn
does no harm. why ure they NO certain,
hnt "cheaper' money will ruin tho
country? II IL he sound argument to
say that dear" money Injuries nobody
bccnuse the pcrsou who sells for "a low
price can also buy for n,low price. why
Is not the converse equally true2 If,
noney be made chenper, md as n re-
suit one has TO pay N higher price for
what he buys, he can nlso get a higher,
price for what he sells, and thus "kccu
cven." That Is tho inoxornble logic Of
the gold defenders position, bat he
either cannot or will not SEQ It, Denr
money is nll rIght-thc denrer the bet
tor. hut "cheap" money Ia dishonest
s.ld rainoes The ipoment chenp-
money is mentioned. he begins TO paint.
pictures OF people paying double price
for what they buy, and getting noth-
Ing Tor what they have to sell, over
looking what ought To be self-cvident.
that when prices rise they 20 up for
both buyer npd scller. The kernel of
TIC whole question Is This: Higher,
prices will benefit the producer and
debtor; lower prices will hoi To the ad-
van;a2c OF the non-producer and cred <
itor, and the champion of "honest" (?)l
money Is always for the rich ldler and
against the Impoverished toiier, for.
the. millionaire money lender aud
against tho hGrd-presscd, struggling
debtor.
But thegoid advocate says, '.neithcr.,
will the rernpnetizing of silver, maleiar,
dollars moro abundant, add; anything
to the worlds. real wenlthi" Right
here his philosophy is at fault In the
first pIacc, just and equitable cheap,
ening OF money will deprive the strictly
iRoneycd classes of the unholy advan-
tage which they now possess, and di-
vide wealth more equally by giving
the debtors and producers IL larger
siiase OF ii, than they are now getting.
La the second. pace, by raising prices
Hnd increasing profits it will encour-
ago ur stimulate prodection, thua
aNdiag enormously 70 its aggregate;
and moleings the world, as II, Whole.
vastly richer The gold .chsInpion in~.
sis's nat overproduction lis thecause
OF the tron.ls, ani all sorts of schemes
are proposed hy which prodncsion may
be Limited. Just how production can
be limited without checking the in
crease of the worlds wealth. no pol,l