Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-12-20
SATURDAY. DECEMBER 20. 1890.
Competing Financial Schemes.


Mr.. SHERMAN is "a gold-bug" and Mr..
KITCHEN, of North Carolina, Green
hacker.
Mr.. SHERMAN is practically a monome-
tallist. Twelve years ago be demanded
instead Of 1.-THE dollar Of the daddies" that
tho Government should coin dollars con-
tanning a gold-dollar's worth of silver. To
this day he takes his stand side by side
with Wall street He advocates dilatory
measures when IT is proposed TO make the
coinage Of silver as free as the coinage Of
gold. He seems. however hardly, 10 know
where he stands upon this question. He
acts as if he wished 10 be on the side Of
the people for popularity's sake and on
the side Of the monometalists for moneys
sake. He is so old that he will not be apt to
figure again as candidate for the nomina-
ton for the presidency; and hence we may
expect him TO 60 as far as his constituents
in Ohio will permit him to go in opposition
e. the bill providing for the free coinage Of
silver.
Mr.. KITCHEN. as our columns said yester-
day, goes 10 the opposite extreme. He
would have the Federal Government issue
the sum of twelve hundred millions OF dol
lars Of greenbacks, redeemeble in gold or
silver coin, and lend it TO thepublic att per
cent. per annum, the borrowers giving Sc
curity for its repayment. This scheme re-
minds us of the wild propositions of 1878,
when the "Greenback lunatics," as they
were called by their opponents, threatened
to take possession of the Government and
10 food the country with greenbacks
enough TO cause them 10 lie six inches deep
upon the ground.
All of us would like to see more money in
circulation. But it must be good money.
II everybody could borrow greenbacks at
per cent. per annum interest their value
wouldrapidly become less. They will always
be REQUIRED TO be redeemable in silver and
gold but this the Government could not
afford TO do if they were issued in too great
abundance.
There is q good mean between the
pcheme 10 flood the country with green
backs and the scheme TO discredlt silver
notes. II is the proposition 20 make
the coinage of silver free. This plan
does not threaten TO work any harm to the
financial interests of the country, or at
any rate it cannot cause a ruinous diff
ference TO exist between the value of gold
and the value of silver. The worst that
the free coinage of silver could bring about
would be to make silver dollars worth ten
90 fifteen cents less than gold dollars. An
imitation such as this would prove to be,
needed, not be dreaded, by any class. But
even if the law should turn out to be worse
than we suppose it would it could soon be
repealed.
In word. we are for no wild schemes.
This country has ths best currency in the
world. We trust that it will not only con-
tinue to possess a good currency, but that
before many years shall have passed over
our heads the whole commercial world will
enjoy its benefits One step towards this
end is the full reconciliation OF silver by
making its coinage free. India and other
silver countries already have their eyes
turned towards the United States. Let not
Mr.. SHERMAN or Mr.. KITCHEN cause those
countries 10 look elsewhere for friends of q
currency az good as gold in America, as
GOOD as silver in India--in fact, as good as
either gold or silver in any country IN the
world.