Ceredo advance. [volume] (Ceredo, W. Va.) 1885-1939, 1897-06-23
ourcAsr FREE srlveRlrEs.
hepeEndc Republicans Who Favor n
DECEASED Currrncy


DECEASED CURRENCY.
Some individuals. who nolted the 70.
rublican party last year and voted for
bryan now propose To organize what
they call The silver Republican Party
OF the United States" For some reason
they do not care TO join the populists
or the free silver democrats. They
seem to think they will have IA better
chance OF picking up Offices il they have
distinct organization.
These boilers cannot bc prevented
from forming new party, but i'm doing
so they ought To state clearly 20 the
public what it's principles are and what
reason there is for its existence. That
has not been done. EN-Congrcssman
Towuc declares that:
This is movement that has taken
deep root and will grow until the res
torat'on of silver to an equality with
gold have been accomplished"
What is this equality that Towne and
his associates are going TO devote the
rest OF their lives To securing? Does
he intend To say that the time will come
again when l6 ounces of silver will
exchange everywhere for one of gold d?
Townc should look the facts i'm the
face. The price of silver, which was
$50 cents an ounce i'm 1870 is 90 cents
now. I'm spite of the low price the sill
yer miners of the United States put
56,OOO.OO0 ounces ON the market last
year and made money ut the business.
The demand for silver 10y silver stand
ard countries is decreasing because the
number of those countries are dimin-
ishing. Japan, the most progressive
of Asiatic nations. with population
of 100000, has adopted the worlds
standard. Peru aud Boli,ia. though
silvcr-producing countries, are prcpar-
ing To do SO
Does Towne really believe that his
little movement" will be able to raise
the purchasing power Of 31i grains OF
silver until it becomes equal once more
TO the purchasing power OF % grains OF
goldH IL is difficult TO believe that any
intelligent man who knows what the
present silver production of the world
Is, and how much more chcaply IL is
produced than of old, really mngiucs
anything of the kind
Undoubtedly the "rcstoration" Townc
has i'm mind is that of the debt paying
ing power. There was time when 37i
grains nf silver would pay oil as much
Indebtedness as p grants of gold II
takes now $50 grains of silver. The
purchasing power OF silver cannot bc
Increased 10y law; the debt-pay ing
power can bc increased dishonesty
rs far rs existing contracts are con
CCrncd.
That ia why Towne insists on free
silver currency which shall he rctroac.
tive that is, which may bc used la the
/ payment of debts contracted on th,
| gold standard. He wishes TO have il put
| in the power OF debtor 10 satisfy q
debt of 100 cents with silver dollar
worth a cents. That is what he mean,
! by "thc restoration OF silver to an
| equality with gold"
OF course he does not say that that I,
| what he means. Neither does Bryan
/ They and the other free silvcrites seeL
| 10 veil with vague phrases their con
templated dishonesty; when they ar,
| intcrrogatcd about their luavish pur
! pose. they refuse to answer.
ToWnc declares also that the great
/ question now before the people. not
only of this country, but OF the world is
the money question. lie may think so.
but he is mistaken. As far as the stand
ard is concerned that question has been
settled. This country has decided 10
stand 10y the gold standard. So have
all other countries which nrc Of any
Importance, except India mud China.
They viii do so as soon as they can.
No nation which has once adopted the
/ gold standard ever will give H. MP i'm
| order to adopt what Towne calls "bi.
mctallism." but what is i'm reality moth.
ing but silver recommendations That
| recommendation, bad when made The
basis uf future contracts. Towuc de-
. sircs 10 br made applicable retroactive
~ to existing contracts.
Real bimctallism means an cpuival-
euce Of values. II means that the pu.-
| chasing power Of the bullion I'm the sill
Yer coin must he equal 10 that Of the
| bullion il the gold coin Of the same
| denomination. That is the sort Of BIZ
mct1llism the United States sought to
establish by the coinage acts Of 702 and
| 1894. but failed ON both occasions. So
| ia 1873 il adopted gold recommendation.
"Bimetallism" with Towne means sill.
yer monometallism the gold dollar re-
manning on the statute books but never
| circulating. This country never has had
a dollar worth less than % praius Of
I gold. Townc would like 10 afIlict the
I country with dollar worth only A.
cents. and gradually getting cheaper.
TOwuc's SILVER rcpublicans' lack two
qualities. Those qualities are honesty
and courage. They wish 10 dcbase the
currency and cheat creditors. which is
dishonest, but they are such towards
that they do not dare TO state frankly
what it is they are after Chicago
| Tribune.
PRESS OPINIONS.
rTThc most eapcr ouuoucut ri tbe