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

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in some way procure $6,O0O,0OO annual
~ of gold to pay this interest. VIII she
obtain it more easily-that is, with less
sacriiic of property and labor on the
part of her taNpaying citizcns-by nd
herring TO her present monetary system,
or by discardimg silver and adopting
standard of gold? The price of gold,
| like everything else, Is governed by
supply and demand. The difficulty
that is, the cost of procuring it-dc-
Ponds upon the quantity available for
money use and the dcmand-that is.
the intensity of competition in obtain
Ing 1t. In no possible way could Mex
leo by changing her standard increase
the quantity or lessen the demand for
gold. On the contrary, and most OBJ
viously, by the adoption Of gold stand
ard she would increase the demand and
aggravatc the present severe COMPETE
ton for securing 1t. Then. again.
Mexico is silver-producing country.
Her principal export has been silver
coined into Mexican dollars. She large
~ relies upon this silver expectation
to purchase the gold with which TO
meet the Interest on her foreign obli-
cations.
| TO say that for her to discard silycras
| standard money would stin further di-
! minish the demand for IT and require
more of 1t TO purchase the needed gold
TO satisfy foreign creditors Is like stat
ing sum in simple addition. I'm
/ doubtcdly If she could collect the same
amount OF taxes In gold that she now
does In silver her treasury would he re-
licved MS TO the interest upon this publ
lie debt, but ii would be equally relieved
| by doubling the present silver taxes.
and OF the two. If either were necessary,
| The latter would be infinitely preferable.
! The addition Of seven millions of taxes
would be II burden which would be felt
! but would in no serious way interfere
with her industrial activity or the mu-
tual equities of her citizens. To go to "A
| gold standard or even To approach il
would only hc adding another comucti-
tor In the struggle for gold, increase
the difficulty of paying her foreign in
tcrcst, but would he fatal TO the business
prosperity of her people. For the Amer
lean people nothing can ba more in
structiVc than a careful study Of the
economical progress i'm Mexico I'm con-
ncction with her monetary system.
! What she has done and is HOW doing is
the result of an inilcNibir adherence 10
II double standard of silver and Culd
without regard 10 the parity Of the two
metals. by refusing To follow other ma
, lions in II change Of monetary system
by accepting the cardinal principle OF
double standard In ndhcrins, to the use
of that one of the metals which for the
time and for any reason IS cheaper than
the other, she las not only preserved
but most conspicuously advanced the
development of her national resources.
by adhcring 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
II different policy not only capital b. i
in large measure enterprise and bust
ness talent driven inevitably from IL
field of contraction to one of expand
Ing industry. TO our people her expert
encc points out plainly the path of duty
and policy. Return to the double stand
ard and business prosperity and defy,
or rather welcome, the highest premi-
, um on gold which the money potcntatcs
may choose to place upon 1t.
More than ninctccn-twcntieths 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 bnnks or
treasury of the United States, and no
where else is IL or has it been for 40
years. The other less than twentieth
are the usurcrs and receivers Of fixed
money incomes, the enemies of general
prosperity, because it lessons the dis
tinction between themselves and tho
great mass of their fellow-citlzcns. II
Europe wants the little gold which we
have, let her take it. We do not want
1t, and no one but few interested, ga TIL
crers will miss it. With us it is qucs-
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, but MI our advantages were nc-
quircd under the same money system
which she retains, and which powerful
influences are being cXcrtcd to induce
us to discard. The test of the value of
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 he
harmful, and under present conditions
will he TO lis, as II has been and is to her.
npositivc benefit; that disparity In mar
kct metal values is no drawback to the
efficiency or value of double standard:
that the nation which maintains legal
double standard and uses always the
coin OF the cheaper will secure i'm the
highest degree possible stability of
prices and the equities between cred
itor and debtor, and the financial indie
pcndence essential to national prosper
Ivy. j. liillyer, in Silver-Knight
: Waterman.
We arc Mig Enough.
Mr. Newlands, the silver advocate