Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1885-09-12
A Business-N Mans Views OF silver

TO the EdHOr OF inc DlSputCH
thank you for standing up so
strongly for silver. In doing that you
are standing up for the best interests,
as believe, Of the great bulk Of the
people. SO far as have been able to
Judge, the opposition to silver money
comes mainly from banks, bankers,
and moneyed men, some Of whom would
have gold only as the basis of what was
money. 1t is shown by stubborn facts
that silver has played an important
part as money, and, in my judgment,
instead Of causing an injury to the
trade of the United States, has greatly
helped to keep matters from not being
worse than they now are.
If it is true that the people Tor very
many Of them) have become indebted
to the banks, bankers, and capitalists
land are still heavily indebted to them.
when a part Of our currency was, in
the language Of some, "a cheat and a
swindle," is it not perfectly plain that
whatever may be legally done to debaSe
silver will be bound to injure to the
same extent those who may now owe
debts to banks, bankers, and capital
lists, while those VINO loaned the money
will be benefited? If money borrowed
when silver was recognized and played
the part of money is now to be re-
turned in gold, or on a gold basis, it
appears to be as plain as plain can be
that the result is bound to be to the
injury of the man in debt, while the
party he owes will be greatly benefited.
Banks, bankers, and capitalists gene
rally have an eye more for what is to
their own interest than what is to the
interest of the great bulk Of mankind,
and this may account in measure why
some Of such institutions and men are
so anxious to see gold as the only basis
of values. One thing is sure, and that
is, the pressure which so far has been
brought to bear in order to debaSe sill
yer is no more to be compared to the
pressure that was brought by the late
Bank Of the United States to compel
Congress to do what it wanted done
than a very gentle breeze is to be com
pared to the terrible cyclone which re-
Gently passed through a portion OF
Ohio. The Bank Of the United
States brought on the country
one Of the greatest panics ever
known, and did it solely to compel
Congress and the Executive to comply
with its wishes. Such meetings as II
had gotten up were hardly ever held
before or since. and the whole object
was to aid the bank in carrying out It's
schemes. The bank itself was the
sole cause Of the panic, and it even
shipped its good money to England in
order to bring on the country such a
state Of things as would compel. as it
thought, Congress and the then Presi-
dent to comply with its wishes and de-
mands. Seeing what was done by
that bank in order to benefit Itself
only has tended to make Inc little
shy when | see banks clamoring for
something that the people feel much
less interest in than they do.
If | mistake not, it is now estimated
that there are about So, 900, 900 of peo-
pie in the United States. Now, how
the yearly coming of less than 50
cents per head Of silver Of the popula-
ton of our country can send things to
the Old Scratch - is what. for the
life of me, cannot understand. Why,
if gold (Which in my section has never
been used as currency among the
people, is to be the sole standard Of
values, how long would it be-no mat
ter how much silver was put in silver
dollaT-before owners OF gold could
combine and demand that such dollars
should be again debased! Would not
the fact that the greatest silyer-pro-
| ducing country in the world had de-
based silver tend to cause other coun-
tries to do the same? And so if there
was to-day in all the silver dollars of
the country as much silver as a gold
man now says should be, how long
after gold was made the sole basis Of
values before it would be that silver
again would depreciate and gold further
appreciate in value?
AS for the debt Of the United States
and the debts Of all the States being re-
deemable and paid in gold is only talk,
for there is not gold enough in the world
to pay even such debts. Every lick
struck to debase silver, is lick land a
hard one) to people in debt and to those
who have to work for living, buteyery
such lick would add to the wealth OF
those who hold notes and debts against
individuals and State and other bends
of public nature.
1t may be all so that there are in
stitutions and men of means who IA
yor the gold standard more for the
benefit of the general public than them
selves, but such an idea, as a general
thing, is not in accordance with human
nature for common sense. The healthy
man does not need physician, and it
is equally true that men Of means and
rich institutions are generally supposed
to be able to take care of themselves
so it would hardly look right for Con-
gress to legislate for the benefit
of the latter and at the cost OF
the less fortunate. Ii is the weak
that laws are supposed to be made
TO protect, and so, unless the