Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-08-14

informed mind"
Mr.. CLEVELAND should be photographed
with tho smile be wears when he reads
these articles.
The Wheat Crop and Our Finances.
We have several times expressed the
fear that the recent excessive exporta-
ton of gold from this country TO Europe
might possibly produce deplorabie re-
suits. especially # the slyerltes shonii
declare that these deplorahle results were
natural consequence Of the failure OF
Congress 10 provide for the free coinage
Of silver. whilst the eoiditcs were affirm
ing that all such evils Were due t? the AT
tempt OF the United States Government
TO have two standards or measures ot
value.
We have heretofore quoted the LEADING
monometallist journal IN New York city
the Tr-ijioc-in favor Of dong all we can
whether we are bimc'allists, or mono
metallis,s. to keep down panic. since
then tho statistic,ans have assured the
public that the United States Will nave
this year about 2O0O0O,0OO bushels oi
wheat TO export TO Europe and sell ior
gold TO he returned 70 tins country II
needed here This fact Of itself ought 10
Quiet the fears Of the moneyed men. IheTc
can be DO panic unless one begins IN
city. The farmers are never responsib-"
for panics. These are caused by the very
men whom the capitalists son times posSt
Of as superior in intelligence % the men
who have hav-scel IN their hair.
We have now nonome'alist BAH
more firm Of brokers ard DANGERS thH'
argues with MI the ability wnich 1t can
command IN favor Of keeping step to the
music Of an assured prosperity and against
Welding 10 the fear that the mted STATES
is country which must always necessarily
import gold rather than export IT, Messr''
HAMILTON d Go. say IN their last circuiar
The chicffcature Of the situation this week =
most Important ono, Was the decline III storing
exchange. The decline was brought about Dy
the free Offering OF commercial b ia proolcd''u
upon large grain shipments. Tho eAporh'ioh
Of wheat has hardly commenced, tui even III ~
incipioncy It il sufficiently large to show VIVA u
will be when the great iiood Of grain shaI TAX
the capacity Of N" railroads ana steamship iihes
Baltimore he's scnt out over I,OoO,OpO hnrhei5
~ wheat The week. and VIII from TINS tincOut re-
ccive ana ship grain in uDpre 'eieni"f quantities.
The same may be sni1 Of every Othor seabotrd
city whirh completes for the grain trade. THESE
enormous cX ports must produce agroHt qhhu'l'Y
Of sterling exchange, and VIII give IA q iars'
credit balance ON the other side, which baihnc"
Europe must li11idaic in goods, securities or
gold All Indications point 10 large importations
Of gold. rs our foreign imports arc decreasing
ani the supply Of available American securities
except such as are permanently held, Is well
nigh exhausted
"rho situation appears 10 us most cncour-
aging, anI were It not for the distrust which ia
cngcn1eFed by the agitation Of free silver We
should feel confident that this country - about
starting upon n season Of prosperity such a. ms
not been enjoyed since tho great wcalth-prO-
ducing years ~ 1870 80. As 1t IL, We feel very
hopeful ami cannot believe that the American
peu pie will throw away n golden opportunity hy
adopting financial policy condemned by thu
most enlightened, progressive. ana prosperous
nations Of the world. America In IT, history
never had such promising prospects for COM
mcrcial and financial prosperity NJ nj present.
Values, through a long period Of nluidatlon'
have been reduced tO n minimum. Speculative
and fictitious values have disappeared, and that
viii remains Is established upon sure and
nrm foundation. The depreciation which has
taken place has been withstcOd In so remarkable
n manner and with 80 little disaster as TO excite
the admiration and surprise Of other nations,
and America stands to-day an example Of I'M
precodontc1 financial strength.
ono other country on the face Of tho globe can
show such results. Last year July, 1s90-0
n deficiency IN crops. great commercial dcpres-
sion, a returned hood OF speculative securities,
the withdrawal Of foreign capital, and increase
Of 800. 900 in imports caused largely 10y
change in the tariG laws, foreign bankruptcies
ana great financial depression IN EUROPE AMI
finally the expectation Of over S12.00000O OF
gold. Aud how did America stand the ordeal?
Did our exports fall OF: No; they increased.
Did our railroads show decreased earnings? Not
M ali; they increased. Was there any panic
and great financial and commercial disaster
Has money been excessively scarce or ra.cs (cx-
cept temporarily last winter high? Have the
banks refused TO discount for their customers,
and has there been any difficulty in obtaining
money Ia any legitimate branch OF trade? II
any Of these things have happened We have fail
Ell 10 obserye them. ON the contrary, and not
withsianding these unfavorable circumstances,
our people are fairly prosperous our transporta-
ton lines have had an Increased tranc md aug
mentcd earnings, and. above all We have paid
our debts. Here, then, We stand on bedrock,
with such crops I'm hand "a were never before
produced. and with an unusual demand that
cannot fail to produce commercial activity and
material wealth.
IAN that We want IA confidence. Take orr
word for il. Confidence is worth more than any
amount Of frec-silvcr dollars
That Is both encouraging and amusing.
No other country on the face of the globe
not single monometallist nation-cOuli
have stood the drain of gold which the
United States, bimetallist country,
has stood, yet our Baltimore friends
utterly refuse TO believe that silver saved
us from a panic Read what they say Of
this silver country a. compared with al
the gold countries IN the world and then
set It down "a certain that they have only
few steps to tske before they will fnd
| themselves III the land and the party *
the white metal.