Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-08-09

Outtou ctoyo0 VINO IoIHct SuSs v-i~.
Amcr1csn:, living on Anerican sosI. cwSs
the BrxErALLIc corSrRnn.
Gold and silver constitute the only - q
Bile and cafe basis of general a1anco. III AZ
bimetallic countries are ct this noun yus
only ones that can stand Q heavy expo[[s e,i
ton of gold without disaster. LAST isu
but for the loan OF fifteen millions OF dot,
lars OF gold made BY Paris to London, anJ
An equal amount sent from tho Uni.eo
States to take up American bonds -
means Of advancing gold to London, tnJ ho
would have been q financial collapse IN tu1
overnight island involving the strongest
banking-houses of the Kingdom IN rum;
At any day the loss Of less than hunolGu
millions Of gold by London OF betim
would produce disastrous coltaPsS -
either country. On the other manu-; -
a gold drain from such binetsllic coun-
tries as France. and che United states
which would DO required to produce .
financial wreck.
LOOK AT FRANCE.
A consuicuous illustration Of this stai-
wart capacity was given by France At inc
close of her war with Germany IN lotL,
when the Teuton exacted 9 ,0O0, O00.gH IA
gold from the Gaul, received every doiial
In specie. and asportated it corporeally TO
Berlin. Was France destroyed by the
etupendous drain2 On the contrary, sno
is this day, financially speaking, INC
strongest Power in Europe. Her recovery
from the enormous and isnominious Pn-
lage to which she was subjected was quo
to the bimetallic basis on which her nnsn-
cial system rests.
oERMASY's POSITION.
Nor was Germany commensurately en-
riched by the looi and shame which s ~
seized and carried away. She embraced "a yno
opportunity to make herself monometaincs
less than q hundred millions Of this blood
money from her banks would wreck the
finances of Emperor and subjects alike.
In the last analysis the value OF money,
even of gold and silver money, is purely
ideal. II Germany had exacted tnousanut
millions of ioaves of bread and pounds OF
meat the result might have been cnlami-
tous. But the loss of 30 much gold did not
affect disastrously the physical resources
Of an empire, which had more tnan as
much silver left, and was not victim OF
leaves perdition enthroned.
OUR OWN COUNTRY.
Another conspicuous illustration OF tho
financial strength of o bimetallio country
is furnished at this time by the example OF
our own country. During the last twelve
months We have exported to Europe hard
upon hundred millions of dollars OF gold;;
and our finances ore really as SOUND anu
intact as before. The Government obtains
loans at az per cent. interest, and the
banks are as full OF money as ever, although
il be idle money. The only manner IN
which evil has resulted from the exodus Is
in the distrust with which the pernicious
theories of Wall street have infected pub
lIc opinion. The doctrine that an abun-
dant possession of silver and an extraordi-
nary expectation of gold arc the greatest
evils that can afiiict country, has en-
gendered that distrust in money:lending
and money employing classes, which now
paralvzes business and causes q suspension
of enterprises.
THE MONEY IN THE VAULTS.
It matters not that our Government has
In her vault huge stores OF gold and silver
silver making e66s,OO 900 OF coined
money. 1t matters not that, according to
the reports of the mint. We have now. after
all the late heavy expectations, at least
5000, 900, 900 of gold in the country. either
in the Treasury, in the banks, or in the
possession of tho public at large. THESE
facts avail nothing to allay the distrust in
stilled into the minds of the money-lend-
ing and money-employing. classes by the
empires of Wall street, ard their echoes IN
All the provincial cities and towns. Seven
ty, or eighty, or ninety; or nun.
bred millions. Of dollars OF gold have taken
wings, therefore all financial operations
must remain at standstll until the gold
comes back. Could there be more con-
elusive proof of false finance and the
panicky condition Of all enterprise found
cd upon gold as the sole money OF coun-
try than is now presentedl Everybody
we'll to do, everybody ready to do well ex-
ccpt for an unfortunate condition OF the
financial mind, the creation OF ghost stories
about gold.
of this Union. an exotic system OF finance
has been implantedin our country "a sys-
tenn in which panic IS the chronic condi-
ton, and confidence q rare accident "a
system which, il persisted In for Lalt
century longer by the monometallic coun-
tries of Europe, will all Internationally es-
tablish conditions there fatal to their
monarchies and subversive OF every form
of aristocratic privilege "a system resting
here on basis Of disloyalty to the Ameri-
can Constitution, and hostility to the
financial independence OF the American
Union.
BEIrArN's BLUNDEB.
England, by enforcing her monometallic
policy against the republics OF South
America, which were her fnancial depend
encies, has brought bankruptcy, civil war,
and revolution upon that unfortunate con-
tinent.
Let us take care thai she and her fnan-
cial agents, allies, and proselytes here do
not bring q like fate upon the United
States. Yours respectfully,
Ro. w. HuoHHs.
"unlirnited Coinage" and "Frcs Coin-