The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-02-16

HCNL N . D q \ANNIIl
nerves free. Address, aatsaA
DR.. MILES MEDICAL CO., Elkhart, Ind.
free coinage OF silver at the ratio OF l6
10 1. and the payment OF ten.cent dol
lars in discharge OF the interest aud
principal OF the public debit Would not
this be Reputation, contlscation, and a
violation OF good faith?
There Is q llni. to which legislation
cans go In creating or maintaining arti-
fcianl against actual values. II there
were no limit, a government could ere
ate wealth by legislation. ! do not
deny that comforting the money use on
a metal or commodity gives 1t value and
great value. but the extent OF this val
ue depends largely upon the strength
and good faith and power OF the gov
eminent that confers the money use.
The strongest governments can moi go
beyond a certain limit. Values depend
mainly upon supply and demand, buyer
adm seller, q law superior to the acts o.
Congress.
Congress can not create values, nor
car 1t make things equal which are n
equal. II the production Of silver in
creases or remains as It IS. and the de-
mand for 1t rs money cases, as 1t is do
Ing In nearly all parts OF the world, the
United States can not Of itself maintain
silver equal with gold. 1t could do It
with the concurrent action Of the lead
Ing commercial countries of the world.
otherwise It would be impossible. The
Republican pactyis the best friend sill
Yer has erer had. 1t has coined and put
In use nearly 59o,0 e0, 600 silver dollars.
and It has given Its pledge that these
dollars shall be kept equal to gold.
Could anything more in BEHALF OF sill
yer be done with safety? I wish as
earnestly as any senator on this floor
that silver and gold were equal In VAL
ue. I feel 1t would be better under ex-
listing circumstances for III commercial
interests; but;m wishes IN the, premis-
es and my efforts, and theNefforts OF all
the senators and OF Congress, al not
Ak the value OF these t;vo metals. T
earnestly hope, WITH the cooperation OF
other governments. that 4 conclusion
may yet be reached by which silver
may be used as money equal to gold the
world over; but I confess that my hopes
IN this direction are not encouraged.
Surely they are not as sanguine and
rosy as those OF the junior senator from
Colorado. The cold, gloomy facts that
he produced In his great speech q few
days since. to my mind, did not author
lie his sanguine and optimistic con-
NlNltnrS Thu y,hr1a ,,,nrt1 .rnar,e - "a.
turning its back on the use OF silver as
money. s
Mr.. President. In 1896 the Republican
party won a great victory. after q most
exhaustive, debate on this and other
form. The Republican platform de-
clared explicitly that 1t was the purpose
Of the Republican party to maintain the
existing gold standard. Behind the Re-
publican party to-day stands 1000. 900
voters who have decided against the
opening OF the mints and the further
coinage of silver at the ratio OF 16 to /.
What has been the result following the
victory? From four years OF depres-
sion, brought on by q Democratic ad-
ministration, prosperity IS dawning all
over the country, confidence IS restored,
aDt-9iiSSS Is AGNlNtUE, ONil cNpOsts art III
creasing; on: United States notes, treas
u:y notes. silver certificates, and ma
tiona, bank notes ARE good In all the
commercial centers OF the world-as
good as the gold dollar anywhere in
the world. These are splendid and
gratifying results. Could we hope SD.
soon for anything better? The only
question Is how to maintain this posi-
tlon and the advantages we have gain
ed by our victory.
Now that all these good things have
come to us and are assured by reason
OF the Republican party being in con-
troll OF the government, why should the
Democratic party bring fortl, this rcso-
luton and create doubt and distrust in
the business world? The trouble is the
Democratic party has .hown 1t can not
manage our finances, and, strange rs Il
may seem. cndeayors TO emoarrass the
Republican party In restoring prosper
ity. providing sound money, and pro-
tecting the public credit.
Mr.. President, | am not discouraged
about the money question. ] see n sill
| We. lining In the golden cloud. so hated
and feared by the Democratic party,
some hope that ;Ec silver question Will
be settled, not by legislation. but by
causcs and forces stronger and more
powerful than legislation. Creating u
demand for a commodity Increase It's
production. Last year the worlds pro-
ductIon OF gold reached s240, 600. 900. this
was 20 per cent more than In 1896. Ac-
cording to the best estimates, the pro-
duction OF gold will reach 5000, 000. 900
this year. and there Is every reason to
believe that, owing TO the stimulus cre-
atcd by tho demand OF the leading ma
tons OF tie world wanting gold for
money. this Increase win continue. :
Assuming that the production OF gold
forNhc next ten years Will average three
hundred millions Of dollars per annun,
this would add three thousand million
dollars to the present stock Of gold In
the world. II only half OF this vast suln
should be coined into money, silver will
not be longer wanted for money beyond
subsidiary coins, FOR golaSwlli tlien be
abundant and sufficient FOR all money,
purposes, 1t Is even possible that gold
Will decline II this Increased production.
Is Kept up. and the question n.ay,arisG0
what will be done with gold, owing TO,
its abundance, ms It Is now with silver.
We should not unduly try TO ioyce by
Legislation, what laws higher and stron-
ger than leIislatlon are bringing about,
Gold isrqu!ctly. slowly, but aurely,mak.
ms Its way bE. reason OF It's Increased