Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1897-06-01
BlmetaIlism-Let virginia Speak.

Comparatively few brainy business
men attempt original investigation, or
think profoundly on public question
unless their private interests are directly
involved. The average business man
accepts views prevailing in financial cir
Giles, and such views are as apt to be
wrong as right. The difficulty of our
situation lies in the fact that so many
financial men, inoculated with false
views, are unconscious that they lack in
formation. A future paper may give il
Illustrations of the nonsense now being
talked by certain gentlemen posing as
oracles of finance. The only object of
the present paper is to arrest the atten-
ton of party officials trying to recruit the
Democratic ranks. We cannot recruit
from those who voted for gold because
they wished to double the value of debts.
Bimetallism, means the free coinage of
both metals at their commercial ratio
No one with influence at Chicago ever
proposed to make the coinage rate differ
emit from the market rate. 1t was argued
with great force that opening the mint
would so appreciate silver and so depre-
ciate gold, that the commercial ratio
would go back to sixteen to one. 1t was
argued with conclusive force that the
market ratio between demonetizing silver
and gold, would change the moment we
elected a Congress pledged to restore sill
yer. But no sensible man proposed to
two.
1t should be always remembered that
some of the wisest, best informed and
most patriotic statesmen this land has
produced supported the platform at Chi
cago. In many private conferences be-
tween these statesmen, the proposition
was to declare for the commercial ratio.
But it was answered that, unless the par
ty was committed to a stipulated figure,
Congressman might differ about the
ratio, and this difference result in non
action. None doubted that, if true men
| complished. Some doubted whether
concurrent circulation could be main
tanned, but no one questioned the practi-
cability of maintaining such bimetallism
as we had in 1860. Sixteen to one was
inserted to protect the party against can
didates, protesting bimetallism, but Sc
cretly mortgaged to its enemies. Sixteen
was inserted because managers of politi-
cal politics feared traitors in the Demo-
cratic camp and well they might. But
experience has proved that the traitor,
most useful to the enemy, was that form
er Democratic leader who first said,-
81 am in favor of bimetallism, and
would certainly support Bryan if the
platform had declared for the commercial
ratio; but the convention was dominated
by men who have pledged our party to
coin at sixteen although the market rate
is thirtytwo and this means fifty cent
dollar"
OF course this former leader was dis
honest, but he was echoed by many
honest speakers and honest editors.
''This club beat u.s." The average bust
ness man did not investigate what would
be the effect on silver of opening the
mint; all he saw was that our platform
rate was thir4y-two. Panic-stircken men
do not listen to argument. Financial
circles are so saturated with the fear of
a fifty cent dollar that it will be impossi-
BILE to arrest their attention until we paci-
fly this fear. Mckinley defeated sixteen
to one he did not defeat bimetallism.-I
The problem is to capture the club that
beat us. Dropping sixteen to one and
inserting the commercial ratio, will cap
ture it.
The intention and purpose of the Chi
cago Convention was to commit the par
ty to coin at whatever might be the ratio
between gold and restored silver. The
Virginia Convention, now about to meet
will promote bimetallism by educating |
the country to understand the true inten- |
ton and purpose of the Democratic
party. Let Virginia speak. The Coun-
try is in a mood to listen.
J. NJ. MASON.
Charles Town. w. Va.