Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1889-08-06
"The Coming Victory of Silver"
For the Dispatchl
No. ".

The following illustration prODes most
important fact: A on the 1st dav of Janu-
arv, 1889. shipped from Richmond, Va, TO
Liverpool 100 GOO bushels of wheat. B at
the same date shipped the same quantity
from Calcutta TO the same point and 10 the
same consignee. In return A got SJl QUO
and b Sis, 900, both III lawful money. Inc
quality was the same. Is thus gets 81 ,OOO
more than A for the same quantity OF wheat
in the same market. How and whyI Anne
RIGA is a gold-standard country. SO -
England. British India Is sllyer-standard
country. The great city OF London con
trolls the glyer-bulhOn market OF the whole
world. A is paid by draft on New YORK,
pavable practically in gold; Is u paid by a
draft on Calcutta. payable IN silver. Inns
nets i the cOnslgnOr with SILVER at 42d. an
ounce-Si.1S a bushel for has wheat A, on
the contrary, gets exactly ninety-one
cents. Ninety-one cents for Americans
and S1.1S for the inhabitants Of
British India has been the exact raLio OF
prices for the past nine months-a di1er-
ence of twenty-seveu cents against the
American. This is q fact, not theory, and
the more silver falls the greater will be the
difference. Can any human being answer
tins pointed illustration! We apprehend
not. Can there be a more powerful argu-
ment in favor of the reconciliation OF
!
the owner Of the GallegO Mills, buy his
wheat directly from Calcutta, and thus
save a considerable amOuntY The only
reason is that the import duty on wheat
prevents. But for this the British India
wheat would drive our Virginia wheat out
of our home markets. rs II has 10 great
extent driven American wheat out OF Tor
eicn markets. American wheat Is TO some
extent n superior article TO INDIA wheat,
and that alone has enabled 1t 10 MAINTAIN
its ground as long rs it has. What has
been the result of this anomalous state OF
thingsY Answer: The building of thou
sands Of miles Of railroad in British India,
and an enormous increase in the produce
ton of wheat-the ruin OF the American
producer and the building up and enrich
ing the Asiatic producer. What Is the
remedy? Answer. The reconciliation Of
silyer-bime Why and howY Be
cause Europe needs every year 2OO,OOO,OOO
bushels of wheat which she cannot pro-
duce, and If silver was remOnetzed and q
bimetallic standard adopted here, the for
eign purchaser would at once attempt TO
pay for it in the cheapest metal. This
would be natural and inevitable. This
would in a day double the market for silver
in London, and in connection with the
demand created by our own minis II
would cause it to rise with leaps and
bounds from 42d. an ounce 20 6Od., where
il was in 1873" before the characterization
and whereit had remainedabOut stationary
for more than half century. If these
statements are true do they not constitute
a complete answer TO the suggestion often
made by persons who have not gwen the
subject much reflection that more silver
ought 10 be put in the dOllary 1t seems to
me that to DO it would be not only TO de-
grade the metal, but it would be the very
height of folly, because it would disturb
the ratio of 15x to as between silver and
gold. which has been established by the
wisdom and experience Of ages. The Bland
act saved us from ruin, but 1t was ONLY
partial act, and it has not been carried out
in good faith, but the doctrine OF nulilfica77
ton has been applied TO 1t as far as 1t could
be done. Every possible obstacle has
been thrown in its way. Ought not
our Democratic Convention soon TO meet
in Richmond TO adopt plank in its platform
earnestly urging the reconciliation of sill
yer? If not, why not? Would 1t not be
the very essence Of wisdom for our farm
ers. our mechanics, our laborers, our man
ufacturers, and our businessmen generally
to Join hands together to accomplish tins
grand reform? 1t would seem to be worthy
Of the most serious consideration. close
this brief article by making what will APP
pear to many TO be q most astounding
statement, and yet it can safely be proved
10 be true. 1t is this: The act of 1873 de
mOnetizing silver has cost the South more
than the value of all her slaves lost by the
result of the war between the States. It's
reconciliation by our Congress will be the
grandost financial event that has occurred
since the discovery of America by Christo-
pher Columbus. 1t will be proud day in
its history when the Democratic party Of
Virginia takes the lead on this great vital
question. Loving the Democratic party as
I do, believing it to be the true party fire.
form, fain would hope that it will rise
equal to the occasion. CAAM PATTEsoS.
Sspt0n P0Si-06ice Va.