Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1889-11-20
The Silver Question.

In the aubjoined letter Mr.. j. W. PORTER,
of Albemarle. one of the gentlemen appoint
ed by Governor LEE to represent Virginia
in the Silver Convention TO be held in st.
Louis next week, makes a reply to an inter-
rocatory put to the general public last
week by the DisDatch. We donot intend to
make any comment upon Mr.. PORTEE's let
ter further than to say to him that the
president of Brown University, in pam
phlet lust published entitled An Honest
Dollar" Che is an advocate of bi-metalhsm),
finds that though the volume Of our cur
rency has increased largely during the last
fifteen or twenty years the percentage OF
that increase Is much below the percentage
of the increase which the business of the
country has demanded. If so this IS an
other cause Of the decline in the prices Of
agricultural products.
CHAELOrTgsyILLE, VA, November l5' 1882
To TIE Editor of me Dispdtch:
In YOUR very interesting and able notice Of the
convention called 10 meet at St Louis Noyem-
beg 18th you close by asking Il any one can salts
lactorily show that au advance n prices Will DO
public advantage.
Kindly permit me 10 try at least 20 chow that
IL will: promising nrst that an advance In the
general products Of industry, and more particu-
larry agricultural industry, Is referred 10. aud
no; corner lots and speculative shares IN corpo-
rations
the general prosperity and we'll being OF all
the people should DO desired by every citizen OF
our republic
tits generally conceded that the continued de-
cline IN prices has most disastrOusly Affected our
agricultural interests. not only ia America, but
throughout all countries depending upon tho
sole COLO standard.
II is quito generally conceded also, for the
proof Is becoming more and more conclusive,
that this general decline In prices has been the
result OF depriying silver of tho highest func-
ton Of money-its measuring function.
The testimony taken before the Royal COM
mission on silver In England shows this con-
ciuslyeiy.
10 has been repeatedly shown how exporting
countries, using the sole silver standard, As INDIA
does, are enabled 10 break down prices because
Of the great difference In exchange between
gold standard and silver standard countries
amounting 70 bonus Of something like 30 per
cent IN favor OF tho latter.
No country can long thrive II Its agriculture Is
In a languishing condition.
On the other hand, whenever aud wherever
agriculture II nourishihR, permanently 60, II
will DO found that every other interest aud In
dastry shat 90 In that prosperity.
IL a an elementary condition Of national pros
perity An abundance OF food and Of material
70 cloihe all Of the people gives us the elements
upon which all else II built
Every thoughtful merchant will agree that his
business IS better with flour bringing IS per
barrel thaa when IL brings $3.50 per barrel.
Scores OF times haze We heard the admission
made by merchants and by professional men.
II Is equally true for the salared class. and for
the same reason.
And the laborer and mechanic, who for the
time being, by moet thorough aad complex Or
RaDizAtion, have succeeded In maintaining a
vastly higher rate OF compensation than the
toiliug food producers arc accorded, can IL be
possible that they are 80 blind as 10 believe that
such an uniust aud unequal distribution OF the
rewards oil Industry as now prevails eau long
continues That tho rade-union worker can OBJ
tain permanently for days work Of ton hours,
or eYen eighi hours barrel Of dour which costs.