Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-11-19
orgGOLDANDSILVER
.,yla,. BANQUET OF Tie NEW
~. ~, r CHAMBER or COMMERCE.
resicr Discusses the siivei
.,, usfore sbe Great Body OF
t' ,,,,asn.s and Bankers.

'-.-1 annual dinner az Delmonico's
g. The affair was especially nota-
ts.@ .. were laid Tor 49, II was just
g. ,..t WHOM Che great body sat down
MOS. Rev. On. Charles A. Briggs
go sa invocation. Letters OF regret
t.' ...,d from vice-President Nor
81. r..slcnt Cleveland, aud Secretary.
r...9c. Thanking President Smith
l. ~ the table were Secretary
rssfor aud hon. Carl ScnurA
...-t.s A. smith, ~ calling the guests
r. Iba-n is no doubt that tue PEG
8 .f.f Stafoa are honest and DO not
INTO worth a silver % pass f0g
..uatnogt 81 doot.
finance ASp CHARACTER
vars couA take Londons place
f..riac depository two things are
....srv. First We must make
...r. mat q gold dollar deposited IN
... l., regail Ina gold. This Il . qlses'
g. ...- as vel ~ Dnalice, and Z con.
&" ., 81 tho American merchant And
.s.t have steamships sailing under
e.g g. an the worlds commercial
G. ...-.. regulates exchange, and We
....-,f's business permanently and
...-s We can dclivcr the products Of
.... var 9El steamers
.-tr-tSD-,LyER FARTY.
..sf.r vas then introduced and 70
r.fasst "To maintain the parity
and silver h tho liked policy Of this
ur said. 10 maintain "panty
ana silver Is the GrTt policy Of the
.r Ir-aase We oil recognize its SUI
..t.r-r Whom VS. come 70 tho ques-
....ey Is tho host % pursue 10 main
ga .lr1ition. serfOus differences %
Ttis 90 undertake an argument
enc M the VieWa that may DO adj
.'.r m.ubers q She Chanbor Of Com
t.r.-.al action 10 may determine 20
..-l ..!g ~ mon in the world ought 20
.- ts..r undertakings 10 Is the Cham
.-.. la Sew YORK. They should be
-...h tho prociicai things that can
XXI ff9u tha impossible Idol, which
....-. Prior % 1850 We had many
re.D.s who believed that our
sre sn1ald oe based upon gold
.loN4KGOw BASIS.
..... -...I ON al Sides That gold alone
.arrIE 70 basis upon which 70 con-
..s affairs of tha world Fifteen
...... W llo Hast who we're supposed
.rrn Question az finances INDUCED
o.. sac ovil shat would follow uD-
..es coinage Of silver dollars. 1
% largely for the reason that
..auc.ers of the countryside
f.......r-. OF EOw YORK and the
...E.Ield That tho parity could
...i. ry1l with smaller coinage
..lr UAs BLEE nONN-
..nt ua dGsill predictions Of
mites, We have coined not only
%. r,er dollars, but roachCd tbs
..r fUJEtu.cHu. We have besides
40 ssG.u00.OOO worth o! silver
.a1ae. and pgiQ Tor 10 by the issue
100000 % now Treasury notes
..t, i3 maintained. il there nOw
Aup would huyo been regarded
........ .Itv 0u the subject but who would
...I shat under sucn conditions the
. ... tuu nrtais would Do preteryed3
.-..s1 whose intelligence aud patriotism
b.. ..... ..upI ana whose purposes are
.t ..l..i are moved 20 Indulge ia
..f.I.su F over the present outlook and
....icI tur Chamber a. COmmSrce and
.-.... ~ repeal the present law, hoping
. .. preserve the party OF gold and silver.
.r .urpUso 90 dispute this position
I....... 30 mako myself the special ad-
... Il.. a. H. Stands. / DO not propose
...n prophecy as TO what is 70 happen.
,ElK DEIIyERED 1T.
r. r.r tt about how. In 1875, be had
.... r.r.4 ou O. silver speech with which
81. 4stOuisl the House OF kepresen-
..# ..a proud he Was Of mo speech,
..- .llIy, a. the time for its delivery
..r. U. Il.gyut perhaps the speocn bet
.... ....... and it w1s never delivered II
f-s TtHss. which was belittling him.
.... .....u ts comment on no might feel
.' ..reHrn his uilicc. lie merely men
..... t..tI-e many Othor gentlemen h1d
.. GRADIENT Hs himself and every sill
r.... ... discovered he was more or less IN
rs orrIOs ABOUT PATTY.
...r... De seid: "1ho question 70 con
s aasf policy Is attliuable. remem-
o.. ... limo that The ideal IL impossible
t.s cast strain upon our resources
o.. . 81. I.re the least resort 20 the exercise
... .Lt... ordinary powers conferred upon
g.. F.. a.tlnrIty 90 do what tho Law com
r........ 200 maintain tbe parity Of gold aud
4. mY opinion, with oil Il our power,
l.... ... .J.isrred by law with an OF our re-
..F-d 90 their fullest extent, Wo could
ln Use parity OF the two metals u
.l Gao free coinage OF silver prevailed
CANBE MAINTnsRD.
l H-'v Of tho opinion the parity Of the
Eau be maintained under tho present
.. produce On this country about
1000 OF rold annually. The present in
bro ina. tne balance Of trade with for
,. TOR tho next two years and for a
..-1I, n tho present tartu laws are
ia win require gold shipments 20 US u
-... ..-s ia Our favor. Under the present
...I4y 4,IOO,UuO ounces Of silver pei
....uF for this purchase Us value IN ne"
'. .. notes. Under such conditions the
.NAlAAAAAN hAAN A'hAtts VAL 49,
O.. .I'...I.gary exercise Of power or 70 be
49,. ..sl uhcros0urces Of tho country
Could STAND TIE STRAIN.
To- cover. the balance Of Trade should turn
f.....t .flauy great extent. which seems u
Improbable, except IN The event OF eX-
r..r contingencies abroad, the strain
...... but oven then my faith in our re-
..... .. such ga % compel me 10 believe thai
v.| U-.ihor ne storm and preserve thS
}--. ..e .pneut u more than s7O,OOO,OOO
I. .. ff E4rDpc without cmbhrfdssment 20
O. .g Illustration " the marvellous imam
t rh ot this country, % which have
I... gt.1n. 50 in my opinion nothing shOr'
OBJ. -.uan8ly large drain u gold 10 likely
q ....H stan upon cur resources In the OF
.. TO Hla.an the parity Of gold and SILVER,
D.. .I'r- free coinage silver would take the
Co. ...i 10 settling lelnnces.
ALL IN THE WORLD.
rr. tuec of silver we're advanced from 81
if... u.l0Uuce OF the silver for sale In the
f-.. H..II Dee attracted 10 this country. We
'.. ..I hago hundreds Of millions OF dollars
..' tus fI8u,UU0,OO0 We now have, and
i..t.. s l-.t as the minis could coin them.
H-rau mo parity under such conditions
'.. b.. iasE requiring moro than our In.
... lr.cs and the exercise OF unusual
ta. ls-T degree could supply, but with
.... I..l..s OF silver only per month par
... .. . .ui value tho task would DO easy.
WHICH POLICIES
Hrl,ol, gentlemen, tho practical ques-
.u consider Is, which OF these tive
F.. Jon prefer. ] know you have eX-
I'D I.s.re for tue repeal Of ths present
Pro- i.rl unjersi and you do not propose a
... 10 ans Kind.
rTH nave your way you propose 20 per-
.-...- .H take care Of Itself. The Secretary
....I attention 20 the fact that this would
..4.e silver % decline and thus make
01or. 90 maintain parity, bus also
Hel- hs dil uOt believe THAI Congress
- . -e their views.
I.-taS ATIONAL AGEEENENrs.
.a ,lry farther said: Believing that the
a H. cha business world must in the
, ...f" n- brought into harmony with us IA
Son tgat gold alone 10 too marrow a
which % b1ild the wOrlds financial
, I have much hope that the best
-f ai ai concerned will agree 20 a better
nled use OF silver, 10 DO followed
.-- nIel agreements by which tho parity
.o.1.a upon an accepted ratio may DO
10 feel quite safe in saying that ono
r"cas Oh an early agreement IN the
.lFs Indicated Is The belief In Europe
.... .fa3te ID 60 be tho policy Of the eoun-
OBSTACLE REMOVED.
..s . in be our policy they know their sill
" 1880 90 us, aud tha, our gold VIII 90 70
- D.. nos part u VISION Tor us 10 refrain
anything that viii impair our ability
.H tlp parityg Convince Europe that
. permit ourselves 20 fail la this no
- ca obstacle 20 the agreement 70
.fci removed. IN what have said
ao opinion % myself only.
htuty G.. Potter responded % the toast
81, a.t, tae Law u Wealth Asl Is the Law
f.9. and Professor Charles A. briggs
@" itl..r LIJ, alton