Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1896-07-29
this change in the money standard IN
1873. Was it right? And

| CAN 1T BE JUSI FiID'
cnoIiotion can no more be justified than
If carried out by doubling the weight OF
The coin There is no difference in the
effect Is there a lawyer or Judge IN
the United States who would not nave
condemned the method OF doubling the
weight of the coinage? Well, that law
yer and Judge is ignorant or blind II
he would not also condemn the otner
method by doubling values. Next, II
there had been no change-suppose we
| had gone on from 1873 under the Con-
stitution and laws as they existed then'
and coined both gold and silver ana re-
sumed specie payments, and closed up
! our debts in the two metals, would the
condition of the United States be now
what il is? Nobody can suppose that
for a moment. Instead of being in debt
TO Europe. by at least five thousand mill
ions OF dollars, we would have been out
OF debt. and a creditor nation at this
! time. Why. if the products-if the ex-
ports of the United States OF this last
vear-eight hundred and seven million
dollars worth-if those same products
had gone to Europe at the prices pre-
vailing in 1873, or gone at bime.allic
! prices. and then if we could coin both
gold and silver, | grant you then the
prices would have fallen. The supply
Of gold and silver has not been entirely
sufficient since 1878, TO maintain prices
from that time down, but had the same
| commodities gone abroad that went
abroad last year, up to January LIST, ana
! had gone at prices that prevailed IN
1921. why it would nave aYounted 10
sixteen hundred millions OF dollars, in
! stead OF eight hundred. If the farmers
OF this country had sold their products
the products of their farms-crops OF
corn. wheat. cotton, dairy products-if
they could have sold az prices that pre-
vailed ten or fifteen years ago, they
would have been more than thousand
millions better off. They would have
been more able 10
PAY THEIR DEBTS AND TAXES,
educate their children, and buy some of
,he comforts of life, if not, its luxuries.
(ApplauseQ
Now. let us take a look at the other
side. say the change has been in the
money. not in the goods. This change
in the relations between commodities
and money is change through legislation
IN money and not in the goods. why,
II is like a certain railroad president
said when accused of stealing eight mil
lions from a road in Ohio. He admitted
il, but said he did it legally-that is. he
got all the stock, and voted IT. Inose
people who engineered this change III
the money standard for the purpose or
spoilat'on. they make the claim that
they I'D It legally-they made the laws
themselves 10 do it. But that no more
tustihes il in ethics than in morals. Let
us turn 20 the things we buy money
with. Mr.. Cleveland thinks i will be
an awful thing to have money depre-
ciate. but he seems never to have been
worried at the idea of depreciation Of al
the products of labor or of labor itself
wheat. corn cotton, all agricultural
products-products of mines and factor
ies-m.ght 90 down, down, down, and
that was nothing as long as moneys
of course it would-went up, up, up.
Bear in mind this, when one side OF
balance goes down, the other is bound
10 20 I'D. Just so between money and
commodities. II prices are all the time
falling. that means, doesn't it. that you
give more OF everything 10 &c, money
to get your dollar. Now, money 10
only about three per cent. or
THE TOTAL WEALTH
of the country. Is it most important,
all the time. TO have money raise and
prices fall, or have prices fall, and the
things you buy money with remain sta
BILE. A distinguished English gentle
man said 10 me, some time ago, You
Americans are the biggest fools on
earth financially" | said: Il don't de-
ny that" He said: "You create great
debts in Europe, and then, ins,ead OF
unfolding prices OF the goods you pay
with you join the creditor in doubling
the value of the things you agree to
ray." We have been following policy
calculated to double the value of gold
that we promised to pay, and lowering
the prices or value Of everything we
pay with. Now. l VIII tell you right
there that is the gist of this whole Ques-
ton We propose to change that poll
cy. We propose TO uphold the prices of
the things we pay with, and lower the
value Of the things we have agreed TO
pay-gold or money. Now, which pol
icy are you in favor of? Are you in ia
vor OF the policy that constantly in
crsases the value of gold? Some of you
are. You think your profit les there.
Or are YOU in favor of better prices for
the things you pay with. Shall We ex-
port to Europe, next year, only seven
hundred million dollars worth; or shall
we raise the prices until we get ten or
twelve hundred million? You don't
scare me with the talk about the de-
probation of money. That is what we
nave got to have We have got 10 have
an
APPRECIATION OF PRODUCTS
of prices on the farms and in the FAC
tories.
was in Washington. last spring year
ago; the letter CT Mr.. Cleveland had
just come out. | said: How much
wheat does it take TO get a dollar now?"
It was four bushels | said: What an
awful thing II would be. and you could
not stand 1t. here in Washington, if a
dollar would deprecia,e so 1t would only
take two bushels to get it. Suppose it
would go down. until you would have TO
give only two bushels They began
20 see the light-they concluded with
the two-bushel dollar Washington could
pay its debts and have something left,
but with the four-bushel dollar they
were getting deeper and deeper in debt.
You are fast changing the condition
of the agricultural classes, and. as Bry-
= an eloQuently said, When you have de-
stroyed the farmer the grass will grow
!.