The times. [volume] (Richmond, Va.) 1890-1903, 1891-02-21
SILVER MONEY.

PREVAILING among the frec-silyer advocates
that the opposition 10 their programme arises
from either a sor,ld aud selhsh purpose 10
diminish The amount Of money and thereby
increase It's value or to do some injustice to sil-
yer it.elf. There can be but h''ie
doubt tia. those persons who have 'neir
property invested in money desire 10
have that money as valuable hs
possible. but while they represent very m
fuential part OF our population they by no
means represent the most important or con-
trolling pant. The large majority OF people
are. in the frs; instance, in favor Of doing what
Is fair and right, without considering SELL
Interests An equally large part are now III
favor OF bountiiul supply of money Tor
all current nses. OF this latter class many
seriously doubt: some absolutely disbelieve
that the plan OF the Free Silver Coinage party
world accomplish the object .hat all OF that
class desire. II is on this ground that many
who earnestly desire an ample and elastic
currency, and who have no part OF lot with
the desires and cupidity Of the money lender,
have stoutly withstood the free coinage OF
silver at its present ratio Of sixteen for one IN
gold, and for these reasons:
Tisi-There is no divinity that doth
hedge about" silver that can remove 1t from
the ciucible Of sound judgment and criticism
10 test IFS intrinsic value, as measured by
whatever proper standard may be applied.
Silver is no talisman, with magic power TO
remove our distress any more than another
commodity with equal exchangable value. 1t
has from time immemOrial been recognized
as one of the most valuable Of metals III the
world. ard as such has been priced and sought
for. but il has likewise had its value meas
ured. not by wheat. or grain or iron except
incidentally, but by gold. If this Is
not an historical fact we do not know what
historical statements can be relied upon. The
fluctuations in the valIe of silver as compared
with gold have varied within the last fifty
wears from about fifteen 10 twenty Tor one
There is no., therefore an objection TO the sill
yer dollar per sc. but II demand that there mus:
be such parity in value between the silye
dollar and the memorable standard. the gold
dollar, that The ownels Of the silver
dollar may be fully secured N the possession
Of reliable values. With this value assured
the free and unlimited coinage Of silyerw would
bring new energies into exercise and would
realize many Of the fondest hopes Of the sill
yer boomer" without any Of the direful results
predicted by the gold bug
Second. Free coinage Of silver IS opposed,
because in the light Of history and Of reason,
its opponents believe that it would in
cyitably result in driving out the s7O2,-
3ls,s69 Of gold now available in this
country. and supplantng 1t with de
prcciated coin, which would entail upon the
enormous trade Of this country all of the en-
barrassmcnts and losses which are nowfelt by
India and Mexico, arising from their
exclusive silver money. In 1873 the number
If silver dollars in the United States amounted
10 only sG,l453O5 Since that time our silver
dollars have been increased to over SlS2,OOO,-
O0O and are now being turned out at the rate
Of not less than four and half million per
month, or ffty-four millions per year, and yet
re have seen the price of silver decline from
1919 cents per ounce 10 below ninety cents.
How the silver mine owners or any other per-
son can claim in the face Of these facts that
silver has been unjustly and harshly treated
is not comprehensive.
Third. Statistics seem 20 establish as fact
that it costs less labor and capital TO produce
sixteen ounces of silver than il does to pro-
| duce one ounce Of Of gold. e., if the Gov
| eminent were TO advertise for supplies Of
silver and gold in indefinite quantities it
| would find that the price at which gold could
| be produced would be more than the price at
which sixteen times the same weight Of
| silver could be produced. The natural
| disparity in value then being greater than the
| legal ratio, it will inevitably only be a ques-
| ton Of time when that which can be pur-
chased cheapest will take the place Of the
more expensive article. The conteGtion then
| Of the bona fde silver man, who desires at
once an expansion Of currency, Is that
| the silver dollar must be made the
the equal in value in all respects Of the
| gold dollar, and that this can only be done
safely and reliably by the concurrent action
of the great commercial and financial nations
| of theworld for the establishment fixed ratio.
We cannot afford to run unnecessary risks to
! please mine owners or any other kind of
boomers The interests at stake are too enor-
nous to be made the subject of experiments.
Mr.. Clevclands position is the only one which
! could be taken by a wise statesman who APP
preciated the gravity of tie situation and Was
fearless enough TO oppose the clamorous sec
tion of bis own party, but with faith that the
right Judgment of the people would in time
assert itself