Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1897-10-22

mains, and IL is the only important
lquestion, by what money policy of her
own can she most offectually check
this appreciation? Her people must
in some way procure $4,000, 900 annual
~ of gold TO pay this interest. VIII she
obtain il more easily-that is, with less
sacrific Of property and labor on the
part OF her taNpaying citizens-by ad-
herring 10 her present monetary system,
or by describing silver and adopting a
standard of gold? The price OF gold
like everything else, IS governed by
supply and demand. The difficulty
that is, the cost of procuring tide
| ponds upon the quantity available for
money use and the dcmand-that is.
the intensity Of competition in obtain
/ ing Il. In no possible way could Mex
/ leo by changing her standard increase
4 the quantity or lessen the demand for
| gold On the contrary, and most OBJ
/ v,Ously, by the adoption Of n gold stand
ard she would increase the demand and
/ aggravatc the present severe compcti-
| ton for securing il. Then, again.
/ Mexico is n silver-producing country.
| Her principal export has been silver
/ coined into Mexican dollars. She large
/ ly relies upon this silver expectation
| to purchase the gold with (which to
meet the interest on her foreign obi
cations.
To say that for her to discard silver as
/ standard money would still further di-
minish the demand for il and require
more of IT TO purchase the needed gold
/ TO satisfy foreign creditors is like stat
] n -,
/ doubtedly If she could collect the same
/ amount Of taxes i'm gold that she now
| docs In silver her treasury would be re-
/ lcved ms TO the interest upon this pub
/ lie debt, butt would be equally relieved
/ by doubling the present silver taxes.
/ and or the two, If either were necessary,
/ the latter would be infinitely preferable.
: The addition Of seven millions of taxes
would be Il burden which would be felt
/ but would in no serious way Interfere
/ with her Industrial activity or the mu-
/ tuaI equities OF her citizens. To po to a
/ gold standard or even 20 approach il
/ would only hc adding another connect
/ tor In the struggle for gold, increase
the difficulty OF paying her foreign in
/ terest, but would be fatal 10 the business
] - ~ VI III l''Ri't'- "a TIC Amer
/ lean people nothing can be more in
structivc than careful study Of the
/ economical progress i'm Mcxico I'm CON
ncction with her monetary system.
| What she has done and is now duinn is
/ the result OF an iuhcNibic adherence 10
u double standard of silver and rold
/ without regard to the parity Of the two
metals. by refusing To follow othcrna-
, tons In a change Of monetary system
/ by accepting the cardinal principle Of
| a double standard I'm adhcrin!r TO the use
| OF that one OF the metals which for the
/ time and for any reason is cheaper than
/ the other, she has not only preserved
but most conspicuouSly advanced the
+ development Of her national resources.
/ BY adhering TO silver she has not only
added to her wealth, but has secured
n higher rank among nations. She has
attracted from other countries pursuing
different policy not only capital b, !
in large measure enterprise and bust
ness talent driven inevitably from IA
/ field of contraction TO one of expand
/ Ing industry. To our people her expert
cnco points out plainly the path of duty
and policy. Return TO tho double stand
ard and business prosperity md defy.
or rather welcome, the highest premi-
3 UNI on gold which the money potentates
may choose TO place upon Ii.
More than nineteen-tventieths Of our
citizens DO not care, and have no inter
est in caring, whether there is or is not
any gold in the vaults OF the banks or
treasury of the United States, and no
MI al. - .
years. The other less than twentieth
are the usurcrs and receivers Of fixed
money incomes, the enemies of general
prosperity, because il lessons the dis
tinction between themselves and tho
great mass Of their fellow-citlzens. II
Europe wants the little gold which we
have, let her take it, We do not want
1t, and no one but n few interested gath
erers will miss it. With us it is n cues
+ ton between gold on the one hand and
/ prosperity on the other, and hope we
are wise enough to choose the latter.
In many respects we are superior to
/ Mexico, bat all our advantages were ac-
quired under the same money system
which she retains, and which powerful
| influences are being cxcrted to induce
]
n national policy is not the actual level
/ OF civilization, but the rate of progress.
/ The lesson which Mexico teaches is
/ this; That nothing is to be feared from
n premium on gold; that it can never be
/ harmful, and under present conditions
/ viii be 10 us, as II has been and is to her.
/ n positive benefit; that disparity in mar
ket metal values Is no drawback to the
+ efficiency or value Of n double standard;
/ that the nation which maintains n LEGAL
/ double standard and uses always the
coin OF the cheaper will secure in the
highest degree possible stability of
prices and the equities between cred
itor and debtor, and the financial indie
/ pendence essential to national prosper-
ity-C. j. Hillyer, in Silver-Knight
! Waterman.
We Arc Dlg Enough
MI Newlands, the silver advocate
from Nevada, contends that the
power of this country TO restore tbe