Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-11-01

r.
15k ounces OF silver to one OF gola ana
that bar Of silver bullion was just as az
cepfable as an equal value OF gold wouia
have been. But when the bimetaiiic
countries. or countries which. coined the
two metals with equal freedom. closea
their minis. then the tie which oouna
for silver being shut OF 1t began 70 ran
in value; it took its place in the market as
a mere commodity. TO great extent the
same as iron or lead or tin; with the &C
companying effect to which have ADVERT
ed at some length, namely OF sending up
| the value of gold and sending down the
price of everything that gold measures.
IN DEMONETIzING SILVER TIE
UNITED STATES WAS STRIKING
DOWN ITS OWN INDUSTRIES.
1t is a most astounding circumstance
that in this work Of destroying silver as
money metal and thus depreeiating i.s
greatest silver producing nation IN tne
world, should have taken Leading part.
actually adopted the gold standard before
Germany Joined the crusade, ana tass
we have the spectacle presented OF me
greatest silver producing nation on earsn
deliberately entering into warfare, an
unhoiy warfare, against one OF Its own
productions, destroying to some extent
| the prosperity of those states ana terri
tories largely engaged in the prodncuon
| of the precious silver metal, deprlviag the
American people of it's use for monetary
| purposes, lowering the value OF every
| try. and what was infinitely worse, low
ering the value of everything which we
sold either at home or abroad.
In the discussion of this question. wnoie
broa6SideS of abuse have been hurried al
the silver miner because he objects 70
having. his metal Gemonetized ana ns
value thus deprecated. Naturally enough
the silver miner objects TO sucn thinks,
do not blame him. Would not the farmers
of West Virginia object TO law when
prohibited them from grinding their
| fOi1r
If such a law were to be passed would not
every farmer in this State ra Sc an indig-
| ton. my friends, answers Itself. and -
| me tell you here that the farmers or the
United States have vastly more at STAKE
| in the restoration of silver 10 Its consd.
| this great republic than the silver miners
themselves have; because the Na.ue OF our
| farm products is enormously great er than
that of our silver, and is growing greater
and greater as our agricultural area
| widens and expands. and when you Ge-
stroy that metal as money you , ass'r res
| products of every American farm are
measured When you cut down by one
half the supply of money which measures It's
the farmers products the effect upon MN
| is exactly the same as IL you were 10 com
pei him to sell his grain by bushel meas
| ure, double its proper size anS ms peer OF
pork by a pound weight OF 90 oprcss, bIt
giving him no more money for etshei
and no more for pound.
| MONEY POWERS OBJE~T is TO EN-
TfRELY ELIMINATE M =. SILV ss5S. .,or
| to cover the money question In al or is
details in sing.e speech ana shai make
| no attempt to do so upon this occasion n
! There is just one other phase OF it which
l desire to briefly touch and then / VIII
! conclude. The gold standard has been
| forced upon this country and the word
| by what is popularity known as the money
| power. and that 1t was stealth ~ ara SUR
| reptitonsly imposed upon this country
! there can be no question The amoition
| of that power 20 dominate the world 5
! monetary affairs is llmitless-~thout
bounds. Here in the United States 1t is
not satisfied with simply demone izine si,-
yer so far as il has been acc1mplls hedt
but it wishes to control all tie ananci3I
| affairs Of the country in all their length
| and breadth. Any person VINO can reHd
must be able to see that Wall street IS
| not willing for Us to even keep and use
| the limited amount of silver coinage
| which we now possess. Although the Sill
| yer dollar is a full legal tenGer when not
| otherwise expressly stipulated in the con-
| tract, the great bankers of this country
| have forced upon the government q policy
| of redeeming all its paper obligations in
| government has gone into the market and
| borrowed more, thus loading the pNopIe
down with interest bearing debt to the ex-
| tent of S2g2 co eco within the last three or
| four years. rather than use q single d"t-
lar for redemption purposes, This is an
outrage upon the american people
| impeachment Of President p3rpet al ng
such q crime. Unless silver can be Us Cd
! as primary money, it amounts to no more
| in our monetary system than so many
| dollars in greenbacks or treasury notes,
to be redeemed ultimately in gold, and IT
| is undoubtedly the aim and purpose OF
| the money power to finally get rid of That
| obnoxious coin which is known as the
| standard silver dollar
THE MONEY POWER ALSO WISHES
| TO CONTROL AND ISSUE OUR Pa
/ PER MONEY
| Not only do they desire to cast aside
the standard silver dollar as primary
| money, but this same money power Is
determined If possible to control the paper
money supply of the country. self
| constituted monetary commission was re-
Gently in session in the city of Washing
! ton, devising scheme by which to es-
! tablish our finances absolutely upon a
| gold basis. retire the government legal
| tender paper, and substitute in lieu there
of the national bank note This scheme
| once accomplished, the American people
| will be completely at the mercy OF the
or decline to issue II, just as their inter-
| ests may seem to dictate, each bank be-
! ing controlled by its own peculiar cir
cumstances and conditions The retire;
| more and thus increase the distress
among the creditors and producers OF the
I nation. The banks" having complete con-
| increase their Issue when times are good
| and curtail them when zines are bad.
| This is the reverse of what ought to take
| place. 1t is when times are hard, when
| prices are low, when people are in dis
! tress, when it is extremely difficult for
| them to get morey with which to meet
| their obligatons-then IL is that an en-
| larged supply Of money is needed. But at
| such times the banks always protect
! themselves at the expense Of the business
! interests of the country. They cut down
| credit when credit is most needed. when
! the people are suffering from seant sup
ply of money. they will increase that suf-
| fering by making the supply still more
scsnt. SO 1t has always been. so IT will
| always be. rs long as the power to control
| the finances of a country, or more cor
rectly speaking. its money, is entrusted
! to a few interested parties. The issuing
of money whether It he made OF gold.
| silver or paper is purely a government
! function. 1t concerns the entire people
| OF the country and should be controlled by
| them through their duly elected and quail
| fed representatives. For the people Of
| the United States to first reduce the sup
| ply Of metallic money 70 the slender basis
! in competition, and then give the banks
| complete control of the money OF q couu-
try, would be in my judgment equivalent
| TO financial suicide. wreck and ruin
| MONEY POWER CAN ONLY SUCCEED
~. Wi y ''-'-''@'-' q ~
Such a scheme as this is contemplated
and IL 1t Is consummated, every indica-
/ ton goes to prove that IL can
! only successfully be carried through
| by the aid and assistance Of the
Republican party. There are few
| extreme gold Democrats II is true, but