Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1885-06-10

u "a
Francisco Senator SHERMAN SAID
"we want . certain adjustment be-
tween silyer~nd gold. That both these
metals may be coined free, that they
nav b. deposited In the Treasury Of
the United States in exchange for money
certificates, and that both Of them
should be so adjusted that they would
travel al over the world. equal to each
other In every land and every port.
fApplauso.l Sometimes the idea hes
been sought TO be promulgated here On
the Pacific coast that the people Of tho
East are opposed to the proddc-
ton Of silver. Why, gentlemen,
that is q great mistake. The de-
monctization Of either silver or gold IN
this country. or in the world, would be
ore Of the calamities that would OK
tend to every individual in the civilized
community. Both silver and gold are
necessary to commerce, the one 70
measure the small business Of life and
the other the larger exchanges, but
both standing equal TO the other and
entitled to equal value and power.
There is in the eastern States widely
growing opinion, which may not
DO shared by you, that in or
der to make these two moneys
travel side by side they must DO oil
actual market value, so that one in for
eien markets, as we'll as in domestic
markets, may be measured by the
other--not silver by gold or gold by
silver, but like the equal parts oil a
pair of shears---both necessary for ac-
tive use everywhere, in order to Dc the
greatest good to the greatest number.
I know among you there is a feeling
that the only way is to pursue the
present plan. Your ablest statesmen
and most experienced businessmen
are satisfied with the present condi-
ton Of things. 1t is due to frank
ness and manhood for me to say that
in the country there is feeling now
that if the present system should be
continued unchanged the result would
be that gold would be demonetizcd,
being worth more than silver as coin
by the Government Of the United States.
The opinion prevails that the only
thing to remedy this is to buy the sill
YER and gold, or take them from the
miner and coin them at the same rate,
or dual market value, in coins, one for
the other, SO that they would travel
side by side without depreciation or dis
count.
"Let us adopt the market value Of
the world as the basis Of our new coin
age of silver, and the French will be
ready to appeal to us in the name Of
God and their country to join with them
in new ratio, or in some way by which
they will not lose the enormous dis
count on their 600,000,000 Of silver
coin. England, anxious for the safety
of India and for the immense hoard Of
silver stored in that country in ell
sorts Of ways, will appeal to us to
restore to them some kind of ratio.
These nations will come to us
instead Of our going to them. Some
times it is said that the miner will lose
by this. On the contrary, the miner
will get broader market for his bull
lion. II you add to our silver dollar
new coin only little imperceptible
thickness, margin so small that you
cannot see it or feel it, but make this
silver dollar Of sufficient additional
value that it may be measured by the
market value equal to gold coin, and
what is the effecty The miner has q
market for more silver, at the same
price the Government now pays him.
Besides that he has the markets of
all the world without going to
the Government Of the United
States at all to decker for a
monthly purchase. know, gentle
men, on this topic may be treading
on corns, on sore toes, but l have al
ways been in the habit Of speaking my
mind, honestly and freely, with con-
fidence that if i am wrong you will
correct me and l will be perfectly
willing to follow the corrected version.
But must, in conclusion, express my
confident opinion that if the business
men of the Pacific coast would see
their way clear to put silver and gold
side by side, and each other at their
market value, the result to this coun-
try would be as wonderful as the re-
sumption Of specie-payment was in
1879. When your silver dollar and your
gold dollar, and your money certificate,
founded on both, will circulate not only
here, but elsewhere, we then, indeed,
will have the best currency ever de-
vised by man. The time may come in
our banking system, owing to high in
terest, that it may not be profitable,
but ! think that is danger very re-
mote yet. II that comes, the best pos
sible security for paper money is the
deposit of gold and silver bullion, and
that will be probably the money of the
future and no money can be better
than that"
1t would seem that Mr. SHERMAN,
the leader of the financiers of New
York, is in favor of Mr.. WARMERS
new scheme.