The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1877-11-12
Silver and Gold.

The gold devotees are very active in their
efforts to .sbear" silver, and yet there nave
been times when the Gradgrlnds were
panic.stricken at the enormous production
OF gold, and inclined to put their trust ai'o.
rether in silver! Short-sishted creatures!
7. is wonderful how we'll silver ana Goia
have maintained their relation IN value To-
waras each other, No bother two artic'estna1
are nroduced and that are consideroo pro-
,ar,v have been so uniform in value. TAX
;nc thc world over they appear IN ther
creation to have been distributed IN guam
titles bearing like relation to each otfer'
90 tbs, their relative value has been 'main-
.s;ned with astonishing regularity. The
variation, although never great, has Deen
apparently as often due TO excess OF pro-
duction of one as OF the other.
The bears may throw all their weight
upon silver. and the f1unkeys may continue
their blacksuardism, but it won't do. Sill
yer possesses as much SteadinesS and con-
sistency as gold. There is no excuse for,
excluding it from the basis Of the circu-
lat;ne medium. To do so but inhicts serl-
Gus injury upon this country, which has SO
great an interest in the production OF silver,
and so much needs broad and solid basis
for currency as the true way to inspire
energy and stimulate development and pros
perity. ...
What caused tue reduction in the weight
Of the silver coinage in this country? The
disturbance OF the relation between gold
and silver by the unusually large produc-
ton OF gold in California. The money
economists were alarmed, and feared that
the silver would all leave the country.
They arc great alarmists, and are always
fearing somethipgD So Dir. HUNTERS bill
reducing the weight OF silver coin was
caused by the excess OF production OF gold.
It is probable that il Mr. HUNTERS bill had
not been passed, AVID silver coins were now
of the same weight that prevailed before
that bill became q Jaw, the proper rcla-
ton between gold and silver would now
exist.
An objection now pressed earnestly against
remonetizing silver is made on account OF
this reduction OF weight or increase OF
ALLOW of silver under the HUNTER bill. We
have no objection to measure that may OBJ
vilte this obiection-such, for instance, as
restoring the silver coin to its weight ana
value prior to Mr.. HUNTERS bill. We do
not think it matters very much. Ihls
restoration would be Il small affair, and may
be in few months the disturbance OF the
relative value OF the metals may be occa-
stoned by elimination OF the value Of gold
by it's accelerated increase. Excellent au-
thorities in New York nave attributed re-
cent decline in the gold premium to the
increase within short time OF $50, 100000
in the production OF gold. ANY proper
tionate relative value that may be established
in the metals will be liable to some disturb
ance from this cause; but that the disturb
ance will be serious we hSve past experience
and the uniform relation OF their natural
disposition, as far as mining has developed
them, to satisfy us that there is no reason to
fear.
In all recorded time silver and gold have
gotten along in most friendly and recipro-
cal manner. They are eninently adapted
to the purposes Of exchange-to money;
and there is no reason to ALLEVIATE them.
They are both for the good OF society. Co.
operating, they are infinitely more benehcent
than they can be separated. Society would
be doing itself grave injury by pettlng
one and repelling the other. We cannot
see how this can he done. 1t seems SO ADJ
surd-so suicidal Of the general interests OF
the peopIe-that we can hardly suppose So
ciety to be capable OF such stultihcatlon OF
ITSELF