Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1889-06-30
Silver vs.. Gold.
To 0ge Editor Of the Dispatch:

4 q a0 l<ltftDI ~ etf A'tfif-f'fFr
A few thoughts suggested on reading re-
marks in your paper OF the ZSth yesterday
of one OF your correspondents
Your correspondent says he can buy more
in England with 800 of gold than he can
with 800 OF silyer-thGt is, 100 Of our silver
dollars-and that it u because our Govern
ment has made our silver dollars nat
money. Well, is this not owing 70 Eng
lands making silver no money at ally We
may differ about many things. She has
Queen; we have none. Her labOrers get %
per cent. less than ours do for days work
aud may we not consider the value of gold
and silver by the standard of the value OF
labor 2 The value of all things Is IN great
degree the cost of producing them. with
occasional scarcity and without knowing
exactly what it costs 20 produce or dig out
of the earth dollar Of gold, We suppose 1t
costs no more than u does dollar OF sill
yer. Anyhow, we think we can see this
much Of the argument-that Is, that Orgl-
nally the respective values OF gold and sill
yer were established in this way-that IS,
by their cost of production; and this rule
must still hold good, tor II man can do
better at digging gold he will quit digging
silver; or IL his reward for labor ut either ~
about the same, he viii 20 on digging
either. as opportunity offers the best.
This business of gold or silver for cur
rency for the measure Of yelue OF other
things is not mere fancy. Now and then a
man may fancy raising cranberries Gas a
friend OF mine did once), but he will go
back 10 wheat and corn if he ind they are
more certain 10 pay him best. The fact IL
England has made fiat money OF gold, and
if she received silver as a companion or
gold her labOrers could save their silver,
getting better wages, and come over here
and buy as much land with 1t as they could
buy with British gold. The writer talks
about the balance of trade IN our favor;
but what tends TO keep 1t so? England's
restricted currency operates as an embargo
against trade, and We buy less OF her than
we might. We trade more freely where we
can pay with what we have TO pay with.
She used TO take tobacco Of us as currency,
though gold was her currency. as money,
and she would take it again If we had no
gold, or she might even then take silver,
and silver would then buy briskly, for she
would have more TO sell than we could con-
yeniently buy, and we might as well keep
on buying only what we must really have.
Remember, we are not getting poorer be-
cause we have silver as well as gold. II
we had neither we would have what would
supply pretty well their places. We should
have the products of labor, and these are
better than gold. 1t Is all small matter
10 us. W . 10 0Ob WANT oD VI ~ Sci-
tinuously, British gold as we do the fruits
of industry that insures US healthful living.
When she England puts premium on
her gold she puts discount on her manu-
features and what matter is this of ours
We work with two hands If one Is left
hand. She works with one.
One would suppose that this question of
silver Is such an incubus that the United
States would long since have gone down
and disappeared from the family OF ma
tons.
Currency is utility in the exchange of
values. II we lessen it we increase the
purchasing power of what remains, and 50
if silver is dispensed with gold will imme-
diateiy buy more and more of anything,
as it does in England. IL win take the high
est seat in the synagogue. and the man that
has most of it will be found sitting be-
side his gold, with the John Bulls patting
him and saying. Now, you can get your
bonds paid in gold that will buy the labor
of two men a day instead of one.n
Remember the value of things is the
cost 10 produce them-the honest labor
and tod that has placed them in the lap of
human wants. q.