Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1885-02-19
THURSDAY. FEBRUARY 10, 1885.
Tie New SILVER Bill.

The New Silver Bill.
We are more than pleased with the
silver bill which Mr.. DoBsHEIMER has
prepared. II comes up to the standard
for good money. The founder of the
Dispafch was an early, constant, and
Jealous advocate Of bimetallism. He
claimed that double standard. as it is
called, is but two legs for a man to
walk upon instead ofonly one. But he
also always maintained that the two
legs should be Of one length-in other
words, that the silver dollar should have
the same intrinsic value as the gold dol
lar.
Mr.. DoRsHEIMER bill, so it is
said, is favored by Mr.. CLEVELAND.
We would that this report were true.
The bill seems to US to be one upon
which all practical men. whether
bimetallists or monomctallists, ought to
unite. Mr.. SHERMAN, the leading
iinancier amongst Republican statesmen,
recently declared in the Senate that he
was bimetallist, but was opposed to
the coinage of silver dollars worth
less than gold dollars. Mr.. j. Ed
WARDS PIERREPoNT's pamphlet,
noticed by us week or two ago,
advocates very much the same policy.
Ii is not possible to coin a gold dollar
and silver dollar which shall always
be worth exactly the same; but sill
yer dollar weighing an ounce (4S0 grains}
will answer every purpose. Such
coin issued by the United States Gov
eminent would circulate freely in all
the countries which have the single sill
yer standard. In India and Japan and
China il would make commerce for this
country.
Who will object to the DORsHEIMER
bill? The silver lunaticS will object
because it provides for dollars contain
ing more than 4l2l grains. The gold
lunatics will object because they have
always maintained that it was impossi-
BILE to have double standard of
values as clearly impossible as il was
TO have two yard-sticks Of different
lengths. OF course we know that the
silver men do not admit that these yard
sticks will be Of different lengths. We
only repeated the words of the mono
metallists. At present, our silver dol
lars contain 4l2! grains-that is, IL
times as many grains of metal as are
contained in gold dollar, The French
make silver stand 10 gold as l5] to |.
So that the metal in our standard silver
dollar is really already more than would
be in IT If we should adopt the French
standard. But whatever may be the
theory in France or elsewhere. the fact
is that silver is not worth l-lGth nor
2-3lsts as much as gold: and Mr..
DoRsHEIMER's bill is intended to base
our metallic currency-and consequent
ly all of our currency-upOn fact in
stead of as now upon theory.
The fact that the annual production
OF gold is so small that it does not
equal the consumption Of gold in the
arts, &C., has opened the eyes of many
thinking men to the danger of a SIN
gle standard Of values based upon
metal that is becoming scarcer and
more valuable as the worlds popula-
ton and commerce increase. The re-
suit Of single gold standard under
such circumstances would be such a
shrinkage Of values the world over as
would carry ruin and desolation into
The entire commercial fabric.
We say the extremists on both sides
will oppose Mr.. DoRsHElMER's bill.
We quote below two extracts showing
what these gold lunatics and these sill
yer lunaties say. We quote a gold lu-
natic iirst--the New York Tribune. II
says;
q This withdrawal of gold means a
sudden and violent contraction Of the
currency TO the extent OF s600, 900, 900,
faore or less. But great part of this
money is already withdrawn from actual
use. The Treasury holds $3.50, 000, 900;
the banks many millions more; other
large sums are already kept carefully |
in reserve by moneyed Institutions and !
private capitalists; and there is evidence
that large and constantly-increasing
sum has been boarded by the people. |
Nevertheless the withdrawal of that
lait Of the gold which is now in active
use viii cause q violent contraction and
great disorder. the greater because the |
quantity Of currency now in circulation
A. very much in excess of the real needs |
Of The coantry. The best part of it |
will vanish from The channels of circu- |
isbon. and only the worst part will re- |
main in use. To avoid this industrial |
earthquake there is but one way TO |
step the silver coinage, and make il sure |
that gold is not TO be demonetized."
The reader will please remember that
the men who talk tina. sort Of stuff are
the same who profess to be dreadfuIly |
alarmed lest the country should be re-
duced 10 single silver standard. and
thus to condition Of things in which
prices would make great nominal rise.
We now quote silver lunatie--,x-
senator CHArrrg, Of Colorado. lie
says:
:. Whenever ! say anything about
finances there Is howl that am from
colorado, and q silyer-man, Of course.
have one satisfaction in knowing that
( the eastern money idols have their
III A. l