Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1888-05-17

universal and all-powerful instrument for
the enslayement of production 20 capital.
|" We r,yk nothing IN challenging any mo-
nontetalIis, 10 deny thst depression was the
design and Is the direct Legitimate product OF
monomcialIism. The Machiaveih who
isthercd The felony, John sherman. himself
admits r. Even the Financial CbrOaicie,
capitals chief organ In the United States,
asserts Il. Even the London Economist,
the oracle OF capital and Of recommendation
IN Europe, declares Il. A score OF the lead
inc nlonomct1liists Of England testified TO
the fact before the Parliamentary Commits
sion on Money Sisadards.
"But casting all this aside here Il fact
which all men NAV see o. mathematical
fact without any regard 10 human testimony.
II REQUIRES double power 10 move double
mass. The gold reserve II decreasing and
The volume Of commerce and industry Is
rapidly increasing. As the gold reserve has
TO carry II all 1t Is increasing IN power value
aS 10 dimiuishes In quantity. That i,
everything is steadily eheapeniDg, and all
producers who have the commodities OF
commerce 10 sell are steadily approaching
the condition OF the slave end the draugDt.
horse. who serve their master for their
keep"
What IL meant by saying that the gold re-
serve f. increasing in powerynlue as 1t
diminishcs in quantity is that gold being
the single standard Of values all other artI-
clcs, including silver. are measured in
value by gold. II it would take as many
bushels Of wheat to pay of the national
debt now as it would have required to pay
that debt of when it was twice as large as il
Is now, Il IS because silver hos been DO
monetizcd and the price OF gold regulates all
other prices. Let the minis be made a. free
for the coinage Of silver ~ they arc for the
coinage Of gold, snd hundreds OF millions
q dollars OF mortgages upon farms would
soon beliited. The United states alone could
do this great work il our statesmen
were not TOO tmid, nor led astray by Wall
street Ganciers who know nothing except
what Is dinned into their cars by persons
rs ignorant as themselves. But we give The
C0tgier-JpTpdrS own language. II says:
"There Is the inverted pyramid Of trade |
snd production spinning on It's apeX-a vol |
ume OF trade and production which has in |
creased 1000 per cent. ia the last fifty wears.
"ADd here is the apex upon which the i'm !
mense mass is spinning gold reserve which |
is fed by an annual yield in all the world o. /
S9G,OO00OO instead Of Sl5j,9oO,00O in the III |
ues, and which is being depicted by an in
dustrial consumption probably twice as large |
a in the fiftes.
Gas the revolving, whirling mass super
imposed upon the gold pivot expands and
increases IN weight the strength OF is sup
port is steadily diminishing.
A. ee gIlDD0ff ]
the revolving pyramid every addition to the
bulk OF the natter implies, OF course, an in
crease in the carrying power Of each unit Of
the gold, and the carrying power OF the gOid
units is, Of course, their money value.
$50 rs the bulk Of the revolving mass in
crcascs with the support OF the gold-reserye
pivot steadily alternating, It follows also rs
a necessary consequence that value proper
tOns IN the mass must wane as the bdlk pro-
portions increase.
"While the tonnage Of the railroads and
steamships OF the world which carries the
bulk has 10 increase 100 per cent. In about
ten years, the depletion Of the gold reserve,
which both measures and carries the values
Of that bulk, is measured by the fact that
the new annual supply OF gold was more
than 90 per cent. larger thirty-fye years AGO
than il l. at the present day. The annual
=
GO per cent. larger in an era when the me-
talhc reserve supporting commerce was
81 two metal standards, and AZ a
time when the mass or bulk Of merchandise
aud production was but fraction OF what
ii is now.
"These facts demonstrate in n crystalline
light that the single gold standard is uni
yersa instrument Of ensavcment.
"Ilere l. the ease in nutshell. Slave
labor produces like the draueht-horSe, only
'Or It's keep. The master gets all it makes
Ia bulk at a coat only Of the keep OF his
lave and draught-hor,e. Now it obviously
ollOWs that as We approach that condition
10 any class OF productive labor the nearer
sc approach the basis Of production OF the
lave and the drlught-horSe. That is 10 saw
he more bulk we get from production at the
east price the nearer we get production to
he condition Of absolute slavery"
No subject more important than this could
lain the attention Of the country. And yet
Nr. STEWART Of Nevada, is perhaps the only
who has made a speech upon it
Turing the current session. SHERMAN may he
is led the leader OF the mOnomctallists. lie
to want a silver dollar that is worth
Is much a. a gold dollar; but this is only a
liIerent way of forcing down prices and
not only the farmers but all
Who depend upon the farmers for their sus- :
enance.