Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1884-12-12
An rnteres ing Subject.


their operation as the laws of Nature. Thcy
are necessarily so, being nothing but n'tti'
raj laws. Mere finite minds cannot Under
stand all the laws Of finance. II We could,
we might enact perfect laws in regard TO
money and currency.
No subject could he more interesting To
TIE public than the proper method OF
treating gold and silver. Men have
differing opinions on the subject only be-
c,,se no man knows everything. As a
eercraI rule. the New York papers reflect
the opinions Of The moneyed clssses-those
whose wealth IL In bond. and stocks. &c.
They take 10 note Of what concerns the
masses. That city Is wrapped up IN gar
mcnt. Of sclti.hness. Her exclusive deyo.
ton n money-making has blinded her
eyes. Bat those papers nevertheless dtilcr
among themselves. The organ Of the Re-
publican party lays the blame fol- the
present deuression In business. and Tor the
existing apprehensions Of future troubles
OF the same sort. upon The success OF the
Democratic party in the recent presidential
election. l. that sillys Not more so
than the reason assigned by an
other New York paper-to.wit, the
abundance OF silver money. When
money Is too abundant the prices OF com.
modities rise. Need We remind anybody
who hycd In the South during the war be-
tween the States OF that fact You remem-
Der well that -four sold for hundreds OF
.sdollars" per barrel, sugar for ten IDOL.
lars" pound. These high prices
were a consequence Of the fact that the cur.
rency Of the South was irredeemable in
coin. The existing state Of things Is eX.
actly the reverse of what the state OF things
was In the South during the recent war.
end yet New York journal has the face to
lay the exceedingly low prices OF corn,
wheat, -four, and everything else, upon the
abundance OF silver money in circulation.
Could the force Of folly farther go?
What might be the effect of the de-
monetization of silver may be inferred
from the following statement made by the
London Times few days after President
Arthur sent 10 Congress his message
recommending the repeal OF the c0mpul-
soIy coinage law. II such an effect fol-
lowed so insignificant cause. what might
not he the consequence OF demonetizing
silver altogetherf The Times SAID on the
9th Of December last:
..The prospect that America will put a
stop to The Coinaee Of silver by re- ealing the
Bland bill has unsettled business In India
and caused Calcutta exchange to decline
TO l.. cd"
unsettled business in India" that land
OF millions upon millions Of people, where
silver has always been largely used. and
whence so mucb wealth has been drawn 10
England. IL l. TO the whole commercial
world a serious thing 10 "unsettle busl-
ness" in India.
We have mentioned the low prices OF all
that the farmer raises, as well a. OF all that
the manufacturer makes. What has caused
those low prices! l. 1t the two grea. abun-
dance OF silver. or the too great scarcity OF
g,ldy Mr.. BUCKNER, a hading Missouri
member OF the national House of Repre-
sen,atiyes, went on Wednesday before the
Committee on Coinage, Weights. and Nea-
surcs, to give bis reasons for introducing
his bill 10 stop the coinage OF silver. HC
said:
"Prices are declining because OF The
new demands for gold, Its diminished pro
auction. and the Increase Of the use OF Thu
m, ta In the arts and manufactures, and
have but little doubt that this reliance oil
cold a. o meas ure Of values is one OF th'
potent causes OF the decline IN value o
American commodities, aud will continue
10 he 20 "a long as gold Is the sole STANDARD
Of value Of the great commercial countrie
Of tie world
Now. isn't II much more likely that Mr.
BrcKNER ia right ilfin that The New Yorke
4 night who teaches you that deprecated
currency makes prices Iows We quot
again:
Representative Potter, Of New York
was also present. aud in brief talk to th'
committee conceded with the ideas ad
yanced by Mr.. Buckner.
mir. Potter said that he was strongly il
favor OF bi.metalism."
Mr. Potter Is a son OF Bishop POTTER
and has more fame than even his father
He lives in the State OF New York, but b
does not allow men who do not know bal
20 much as be does 10 teach him economic:
We quote further from Mr.. BucKNER:
"The time had come when the Govern
meut should act decisively; and the que,
ton II is 10 decide Is whether we are TO hay
bimetallism or recommendation. Holian
has large portion OF silver, and has gon
into the market for gold. Italy require
her banks 10 keep two thirds OF their n
serve in gold. The United States ar
interested IN silver as product, bu
stu more IN having bimetallism, who
was established by our forefathers. Tn
I'LL Is In the interest OF bimetallism. II
believed that four fifths OF the people {
The United States want bimetallism, an
the only difference among them is as TO I'll
means 10 bring !. about. There are only
lew monometallisis. by the time this bi
might pass we would have S200, 100000
siiysr under the Bland bill. coining q
CQ0,oOO a month. A strong party In En-
land fayors bimetallism.
1--WE must goio monom. tallism IN sily'
or gold, unless scmething Is done TO brir
Europe 10 realize The danger OF relying &
one metal. II England does nothing v
msy have 20 rely on free coinage ADD hay
silver monometalhsm. Silver product
\. demand free ooinsKe. As between that au
gold coinage alone, II is better TO have m
coinage"
y "whst win be the effect Of the passas
OF your biliy" asked a member OF the cou
miiite.
Its immediate effect will be some d
cline IN The relative price Of silver. but III
will te temporary II We can succeed
urging the nations Of Europe 10 ioln vii
us In using both metals. In England
trade, with it, siiyer-using colonies, SUI
embarrassment may be produced rs VI
induce her TO increase the coinsge OF silve
and other European nations will follow bi
example," replied Mr. Buckncr.
Congress Will take care Of the people
srfer ~ - a, flfs tnafsar