Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1885-03-06
A Thousand Millions Lost.


A thousand millions Of dollars have
disappeared as il they had been sunk
into the ocean. A thousand millions of
dollars have been paid upon the public
debt Of the United States since the
year 1865, and yet the nation owes
more now fllan IT owed then. Owes
more now? How? Because It would
take more bushels Of wheat or bales OF
cotton TO pay what remains of that debt
now than il would have taken to pay
the whole Of it in 1865.
How is the debt to be paid. III Mt
all, it is TO be paid by the sale OF wheat
and cotton, and tobacco, and other COM
moditics. There is no other method of
paying it. 1t is, therefore, fact and
a startling fact, that we are confronted
with when we see that although we
have paid off, as we have been hattering
ourselves, one thousand millions of dol
lars OF our debt, we owe more than we
did before we began the work of paying.
What is the matter? Read the ar
yumcnt Of the Democrats in Congress.
The gold production of the world is not
equal to the quantity Of that metal
used in the arts, and yet gold is made
the one standard Of all values. Every
thing has to be measured by that
standard. Even silver is measured
by gold. The quantity of gold is
constantly growing less relatively
to the population and commerce
of the world, and therefore more
valuable. Silver has become more yalu-
able than il was when the silver bill! was
passed--more valuable, not relatively
to gold, but relatively to wheat.
That bill was passed over the
Presidents veto on the 28th Feb
ruary. 1873. Wheat was then worth
sl.35 per bushel in this market.
The bullion in a silver dollar was then
worth IS cents. 1t, therefore, lacked
so cents of being equal to bushel of
wheat. Yesterday, wheat was worth
in Richmond less than dollar, and the
bullion in silver dollar was worth say
30 cents. II, therefore, lacked less
than 20 cents Of being equal to bushel
Of wheat. This fact proves that it is
not silver that has deprecated in value
but gold that has appreciated. In
word the Republican party has legis-
lated for twenty years in the interest,
not of the people. but of Wall street.
Did you ever read the story of the
prisoner who discovered that his prison.
house was becoming smaller and smaller
and closing in upon him day by day?
He foresaw that it was to be his inevi-
table fate to be crushed to death by the
encircling walls Of his cell. So it is
with the people of this country in this
matter Of gold standard Of value.
The quantity of gold is constantly di-
minishing relatively to the currency
wants Of the world. The business Of the
world ought to be constantly increasing.
But il the increase Of business is to
be constantly neutralized by the dimin-
ishing supply OF gold, what can result
hut a final crushing to death of the
commerce Of the world? Fix the
amount Of gold in the world at wha.
sum you will, and let il year by year
diminish rs the population of the world
increases, and you presuppose ruin
Gus crisis at an early day. If you
shorten the hypothenuse of a right-an-
gled triangle, its square will never equal
the sum Of the squares Of the other
two sides until you shorten these
also. Gold is the hypothcnuse Of
the financial right-angled triangle. This
gold bypothenuse is constantly shorten
inr. The other two sides will necessa-
rily be shortened. Contraction Of
prices. contraction Of prices con-
traction Of PRICES !! is the unavoidable
result, Hence, factories stopped, bust
ness paraiyzsd, ruin, and desolation.
Is this the entertainment to which the
country was invited by the Republican
partyY And is the Democratic party