The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-01-15
THE COINAGE QUESTION.
Mr.. james L. HRwlsy Dlseursss the
standard Unit OF Value.

Mr.. James l.. HRWiey DiheuEses the
standard Unit ofVaIue.
The following communication, ad-
dressed to the editor Of the Pittsburgh
Dispatch, appeared In that paper yes
terday:
referring to an article IN your pa
per OF the 9Th, will say, please pub
ilsh the following as kindly criu-
cism:
"The unit of our coinage Is the uol-
lar. We have gold dollars and silver
dollars, and the real or intrinsic value
OF the gold in sold dollar and the siI-
Yer in q silver dollar ought to be eN-
actly the same; but they are not the
same and not the equivalent OF each
other in real or intrinsic value, other
wise our coinage trouble and contro-
VerBy would not exist.
Il appears that early in the history
of our country the government aftee
investigating for long time with
great care, arrived at conclusion as
20 the exact amount of silver TO put
in a silver dollar, and the exact
amount OF gold TO put in Il gold dollar,
~ that the real or intrinsic value Of
the silver and gold would be exactly
equal to each other. II since that time
the real or intrinsic value of silver and
gold had remained the same there
would not now be any controversy on
the subject. But there have been
changes and changes. and II now APP
pears that the real value or the silver
in silver dollar is much less than the
real value OF gold In gold dollar; yet,
because Il is generally understood and
believed that the government VIII
exist between any OF its dollars, the
silver dollar continues to buy the same
as any other government dollar. But II
has been thought best to discontinue
the coinage OF these deficient dollars,
and not continue loading the govern
ment with the deficiency OF such dol
lars. Il has been claimed by some that
the decline in silver was caused by the
government deciding 10 discontinue
coining silver dollars; but this certain
~ was not the main cause. In arguing
this point cause and eject are made
to change places somewhere.
The production of silver has been
cheapened and largely increased and
I'm some lines, gold has taken the place
OF silver,and silver has so declined that
It seems foolish for any one TO insist
that for coinage It is stlll as valuable
as II formerly was In proportion TO
gold. Hereafter discoveries may be
made and changes may occur which
may have a similar effect on gold; but
as vet the production Of gold haA not
greatly exceeded the demand, and no
metal has vet been discovered which
win take the place of gold to any very
great extent. In the ideas on Coin
age" referred 10 in the beginning OF
this article. Il was proposed to do away
with the dollar, or the present unit OF
value, and hereafter coin gold pieces
so stamped as to show the number OF
grains OF fine gold contained In each
piece, and coin silver pieces so stamp
cd as to show the number OF ounces or
fractions OF ounces OF fine silver con-
tained in each piece. For brcvlty we
win call this tho Guthrie plan, and Il
would. think, be an honest plan, but
exceedingly lnconvenient and objcC-
tlonable. because the main use and
function OF coin, or money. IS to facil-
itatc the making OF prices aud TO facil-
itnte buying and selling ana the max
ing OF exchanges Therefore. stand
ard unit Of value Is almost or altogoth-
or necessary, and that standard unit
should be our dollar. which should be-
coined Of such precious metal as e.
most stable IN value and iluctuatcl and
changes least, and any or all other
coins, Of any or all denominations, OF
any or all metals, should be 10 coined
that they would when coined, have
intrinsic value In Keeping with the dol
lar Btandncd. OF course. we would have
20 contend with the change IN values u