The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-08-28
SILVER MONEY is THE BEST
commenced -bE-Saying :-,---.~--''s-

and most convenient for the market and
shopping transactions; of life. Silver coins
are by all odds more numerous than coins
of gold, even in countries where gold alone
| is the standard Of value, The tshillings and
half-croWns OF Great Britain outnumber
| the soYereigns many; times; and IN the
United States the silver coins issued from
February, ], 1875, to- August 1, 1878, number
300. 829,540, while the whole number, OF
gold-pieces issued during that time in the
United States is T,710,94Q. No form OF pa
per.money can :proftably take the place. OF
silver. Our old fractional currency was
the best substitute ever devised, but this
cost annually nearly four per cent. to main
tain it in decent condition., or nearly the
interest of the money, while the amount
lost, wasted, and destroyed was a heavy tax
upon the people. who used it,. 1t lasted on
an average only fifteen months, while coin
lasts thirty years. The largest possible use
Of silver and its freest circulation are mas
pensable to any system OF money that can
be devised but, like, all other money, it
must be maintained in some way at OF near
the intrinsic value OF other money r-.
"If silver is coined at less than its mar
ket value and issued without limit it will as
surely displace gold as water will dlsplace
mir. Therefore fractional. silver is limited
to 1000, 900, and is only issued when re-
uuired in exchange for United States notes.
II It becomes too abundant it comes into
the Treasury for taxes, and is paid out only
when demanded or Willingly received, SO
the coming OF the new silver-dollar, though
a legal tender for all purposes, is limited
by law. to from $2,000,000 to, S4,000,0O0 a
month. The silver in this dollar is worth
IesgF IN the market than the gold or even
tho paper-dollar, and il issued without
limit the silyer-dollar will surely depreciate
below the gold-dollar, and will become the
single standard OF value. This is as certain
as the march: Of time. ..,..; r-...r.sn ,l..
- "But gold, also, IS an indispensable
standard OF value. 1t measures all the
larger transactions Of business life. 1t is
used as such by most Christian apd civilized
nations OF the, world, and its demonetiza-
ton would be as great an injury as the de-
monetization' Of silver. Now. 'felloW-citi-
ter ttat both metals VIII circulate at par
with each other; that you will have, gold
eagles and silver dollars, and q dollar Of
either will purchase precisely The same com com,
modities. 20 - -. ~ eta.
.tHoW both METALS WILL CIRCULATE AT'PAn.
XThis can be done whilethe Marketable
of silver is lower than its legal ratio with
gold. either .-.:.p nYasi cred @-rn -"
First, by limiting the amount of silver
to be issued; or, ...:: .a ~
/. = Second,a by l1esdi listing j the relative
weight Of the two coins, either by increas-
ing the weight OF tue silver coin or lower
| ing the weight of the gold coin, or equal
izing them by increasing the weight Of silver
! and towering the gold or, isii,2; n>,s4a i: !
! "Third. by the international conference
between bi-metallic nations now in session,
| which l sincerely trust may arrive at some
practical result s 81, ~
| Either plan, OF any.0ther to keep these
coins on q par with each other, will meet
my hearty concurrence, but i am utterly
| opposed to any measure that will deprive
| us OF the use OF either coin, circulating side
by side, OF eqnal purchasing power, at par
with, each other. Il I assure you IN all frank.
ness that the silver question must be solved
in some such way, or, we will have to adopt
The single standard OF silver, like the Chi
nese. aud other Asiatic nations.l9i'# asIdli!
~ SIS y NATIONAL BaNKS!'e 14lEi -. 1f
Commenting upon what Mr.. Thurman
said about national banks, Mr., Sherman err an
said rs .'s .t,,s Il. t.t, t..i4 al 9i b
UIt is: easy to oppose, banking corporations.
Instead al having political power, they are
the weakest members OF o. community. Say
what You will OF them, their substitution
for state banks was ONO, OF the Nisest and
most beneficial acts OF the General GoYern-
tmnnt since the commencement. OF the war.
Personally I have but little interest In or
feeiiiie for national banks. But for the
benefit derived from them would not care
whit became OF them. Their continued
existence oughtto depend upon their ability,