The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1898-10-26
GOLD STANDARD
MEANS RUIN.
Views Of the Chicago Tribune When
il Represented the People Pow
erty Of the Masses and Wealth Of
the Glasses Portrayed.

an eultOT1al IN the On1cagO It'd
une of January 16, 1878.
'.If we assume that silver and
gold together represent 6 per cent.
OF the values of the civilized world,
each in proportionate degree. then
the elimination of silver from mon
etary uses changes the relation of
hard money from that of 6 to 81 TO
that Of 8 to 81, or, in other words,
little more than doubles the EouL-
chasing power of gold.
ssThis would be a tremendous
and unnecessary shock to the COM
mercial relations of the world, but
it would not stop at this. From
that time on there would be con-
stantly increasing demand for it.
while the single gold measure and
equivalent of exchange would go
on contracting.
1.-THE purchasing power of the
old recognized metallic money
would be enhanced from year to
year, with the inevitable result
that the value of all property and
labor would shrink from year to
year.
sTbe final consequence of this
relentless tendency would be the
concentration of the money power
and property wealth into the hands
of the money-lending few and the
oppression of the industrial masses.
If the masses were to submit, the
condition of the dark ages and the
feudal system would be revived
If the masses should refuse to sub
mit-which is the more likely
property rights would cease to be
respected, communism would be a
reality, and there would be univer-
sal anarchy.
"To undertake to do the business
of the world upon the basis of a
single gold measure and equivalent
would be to undertake to do it in
definitely upon falling market.
This means loss, bankruptcy, pow
erty, suffering and despair.
@Debts will grow larger and
taxes become more enormous,
while property will decrease IN
value, and production of every de-
s .ription become less remunerative
TIE farmer will receive smaller
prices for his crops from year to
year. Manufactures will produce
at one level and sell at a lower
level. Merchants will buy on a
higher scale of today and sell ON a
lower scale of tomorrow.
Labor will be forced down.
down, down, and there viii be a
long series of strikes and lockouts
and suspension of production.
'Those who own property and
owe for it in part viii see their
mortgages increasing in proper
ton as gold acquires new purchas-
ing power, while the property it
self will be shrinking in value.
They will have nothing to look
forward to but the ultimate sacri-
fee of their property.
Those who own no property
will never be able to acquire any
under the necessity of doing bust
ness upon an ever-faliing market
or by earning less from year to
year. The natural ambition of all
men to better their condition viii
be crushed ont by succession Of
disappointments and failures.
There will be no relief, it must be
kept in mind, for gold viii be the
only recognized equivalent of val
ues.
.The stock of gold viii be con-
stantly decreasing, its purchasing
power will be constantly increas-
ing; hence the prices of property
and wages paid to labor viii be
steadily falling and the circle of
wealth viii be uniformly contract
ing.
Hard times viii become perpet-
ual unless. indeed, repudiation, re-
volt and communism shall inter
pose to produce still more fright
full results"
1T. Bell. of WeIlsburg, while
wheeling along Bethany pike. was
overtaken by some racing bicyc-
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