Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1889-02-10
The silver Question.

CHInLoTrEsvIILE Va, Jan. -, 1889.
To the Editor OF the Dispatch:
Your reflections upon the possible conse-
dueeces OF persistence in the monsrous
wrong done to the Industrial interests al The
country 10 destroying the monetary iunc-
uons OF silver are timely.
II danger that is looming up, and many
thoughtful people who have always opposed
what YOU STYLE the "greenback lunacg" are
beginning TO think that 1t might be Just ro-
turn for the exactons OF men who, not salts
fed with making our Government bonds,
originally costing 40 to 80 cents on the dollar
in gold, OF par, and providing for their pay
,Bent in coin, hut they must force the cOun-
try into policy to still further magnify their
holdings BY striking down one OF the COLI
metals. Continued resistance to the mode.
rate and Just demand that silver be restored
10 It's place held for centuries VIII surely be
resented by the taxpayers Of the country
and It's great wealth-producers.
Whist SIRE the facts In the case?
Ia TIE report of the United States None
fary Commission. a work pronounced to be
1.-The Abesf compendium Of facts and theo-
rles in moueiary science ever published"
we see thst the openly.avowed reasou
given for tho acton IN Europe "was the
apprehension Of the creditor classes that un-
less one OF the money metals was deprived
OF its monetary functions money would be-
come too cheap" (Seo page 4 Report
United states Monetary COmmiSsion.)
Gold vas erst demonetiz0d in Europe.
But Englaud aloue held II at par, Tor the
charter Of the Bank OF England, renewed
in 1874. compelled It to buy ell geld offered
AT coin prices. (s0e Title Book OF Eng.
land-C hsmbsrs's Encyclopedia.)
Had either the decentralization OF gold or
silver been predcstsd upOn an oNer-supply
OF one Of them, thea gold 10 1873 would have
been stricken more justly than silver, for We
see in the address nj the National Bmsialhc
Association, 1856. that while in 1850 the pro-
portion Of gold 10 silver then possessed by
the world was 82t pounds Of silver TO l OF
gold, while In 1885 the proportion was esil'
mated by the same authorities to he but Isl
pounds OF silver to l Of gold, owing 10 the
vast relstive increase Of the gold product;
therefore it is safe to SAY that the fall in sill
yer - the result Of statute law, not OF nAtu-
RAJ causes, as stated in that able address.
But ons feature OF the present condition
o. AFFAIRS touched Ivy The coincidence taken
before the roval commission 10 The fact that
Inc Orient continues to draw immense trea-
sures Of gold from the western nations.
Clsremont l. David SAID "lsdia has in
ported aud not Ts-expOrted el27, 600, 900 tter-
ling in little nore than ifty wears 1865, OOO.-
0OO)"-slnce 1885, when gold coinage ceased.
lie saws "tbRt Indis now imports ga, 700, 900
sterling Ia sod (s23, 1000 annually"
This continuous drain OF the most precious
metal ought 10 alarm the aiVocstes OF The
sold standard. for IL is treasure drawn away
from mouetsry uyes a. completely as i the
vast sum which increased wealth aud luxury
ia sbsorhin. ia jewelry and decorative and
sri purposes am0xg the western nations.
with TINS, we know that the producuoQ OF
gold is falling OF. and Tiers is just capefor
The alarni sounded b. the Dake Of Marlboro
In au able paper. "The Vampire Gold. J"
published IN the Fortnightly Review III 1881
But in addition to the vast dram Of gold 10
The East India imported So, 100000 OF silver
in 1885 out Of product 81 all the world
mines for that year Of sii5, 100000. Permit
me TO quote Sous III tue great authorities
cited Ia the mastery repors OF the United
States Monetary Commission. II VIII inter-
est msuy OF your readers.
Ga page 81 Of thai report we see II. No.
lONski said IL 1869 before the French Meme
tsry Convection: "The sum total OF the
precious metals Is reckOned At $50, 900 900
one half gold and Que ball silver. II Dy 8
tltOhO VI ltt itu AhNN HNlfAN'' WV - ~
metals in the monetary service they double
the demand for the other metal 10 the ruin Of
all de btors."
said BAros Roth'child:
The simultaneous employment OF the
two metals Is satisfactory aud gives rise 10
no complaint Whether geld or silver domi-
uRtes for the time being II is always true
that The two metals concur together 10 form
ing the monetary circulation OF tue world,
and 1t is the general mass OF the two metals
cOE bined which serves as the measure OF the
value OF things. The suppression OF silver
would amount 10 3 VeritAble destruction OF
value without any compensation"
(rhs is Just what We have bad TO ex-
perience).
Said Professor Layelaye;
"Debtors, aud among them the State, have
the right to pay 10 gold or silver, add tbis
RIGHT eanaot be taken away without disturb
lag the relation Of debtors and creditors 10
the nrsjudice o. the debtors 20 the extent
perhaps OF one ksli, certainly ose third."
So spoke eminent, wise Frenehmsn, aud
France did not enter into the crusade against
silver, but grsrdly maintained the Interests
OF her people, though she had to close her
mints to the open coinage OF silver sfter
Germany aus the United states struck down
that metal. They have all through the crisis
held their own silver AZ it's full coin value
and IA tbs leading member Of the Latin union
maintained II, aud together they carry $780,
900, coo OF silver at par, and France is tbs
most prosperous Of the nations OF Europe,
and the Preach have shown their skill As
fhanclers.
NJ. Lean Fanchet Ia lsi3 says: "If all the
nations Of Europe adopted the system OF
Great Britain the price OF geld would be
raised beyond measure"
Mr.. Goscheu, tho eminent English fnsn-
cier. SAID before the Interpsnsnsi Monetary
Confercnce al Paris 10 1878 that "the uni
yersal adoption Of the geld slspdard might
be the cause Of toe greatest disasters.
Ii Is not Q question Of the greater use Of