Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-02-26
The New Secretary and Silver.

calico CHARIIY,n as he used to be call |
ed in.Ohio, the new Secretary OF the Irea-
sury, was no doubt selected as Secretary |
of the Treasury. because among other rea-
sons he was known to hold on the silver |
problem tho views which MIR. HARRISON |
seems to regard il as his duty to carry out |
as the head of the executive department |
of the Federal Government. A Secretary |
OF War, or a Secretary OF the Navy, or |
Secretary of the Interior, might have
been appointed without reference to
his opinions on the silver ques- |
ton, but TO appoint Secretary of the
Treasury without inquiring into his opin- |
ions on that question would have been
one of those Talleyrand- plumbers which
are worse than crime. Wall street would
have denounced the President as traitor
10 the cause Of the monometallists and
unworthy longer to be regarded as An ex-
ponent Of those financial theories which
for some mysterious reason render infal-
lible the men who hold and promulgate
them. State street would have followed
the example of Wall street, and the solid
men of Boston" would have joined the
New York millionaires in making it hot"
for Republican President who had dared
10 refuse TO bow down and worship 1.-THE
golden calyesn of the present day. If,
then, we know what the new Secretary In
tends to do and say in regard to the va
rious measures concerning silver which
are pending in Congress, or in the commit
tees of Congress, we can infer what the
President OF the United States intends TO
do and say in regard to the same measures.
Well, what promises Secretary FOSTER on
this subjects We answer in the words of
the New York TIMES, asfollows:
when asked what his policy would be
on the silver question, Governor Foster
said: MY position on that matter has al
ready been pretty accurately dehned, IL
seems TO me. My victory over Tom Ewing
was practically won on that issue-not the
silver question, exactly, but that OF nat
money. l am in thorough accord with the
President in his views on free coinage. |
do not think that the unlimited coinage OF
silver would be practicable at all, whether
the oliver 10 be coined were the product of
our own mines OF not. l am bimetal-
list. however, and believe in main
tanning the ratio of gold and silver so
that q rarity in the value of the two
metals may be brought about. This can
he accomplished, IL seems to me, best by
the methods at present adopted until the
world is ready to undertake some move
ment by which all civilized countries will
recognize both metals. While do not be
lievs in the unlimited coinage OF silver
have felt that the present rate of coinage
is not too great for the needs OF the coun-
try. This II q growing country, and the
law In force at present providing Tor the
AanA s.. atlxf mi nv
what 81, 900 900 ounces would about amount
20, does not 90 too far, in my opinion
MIR. FosrxR tries TO resurrect the ghost
OF greenbackism in order to secure aid in
putting down the brmetallists. But the
public will not be frightened from its pro-
priety" by such insubstantial things.
Greenbackism was killed, not in Ohio, or
not In Ohio only, but in Virginia. Ii was
n heresy which no sound Democrat could
for a moment make part Of his creed.
We dismiss greenbackism and fat money,
therefore, as having no place in this dis
cussion.
Mr.. FosrKR is opposed TO the free coinage
of silver, but is in favor Of coming sixty
millions Of dollars of silver annually. This
position is illogical and indefensible. II IL
would be dangerous to coin all the silver
that could be carried to the mints it Is dan
eerous to continue the..present silver-ooin-
age law in operation. Why isit not danger
GUS TO open the minis to all the gold that
can be brought TO tbemS Nobody fears an
excessive supply Of gold. We ought to
trust silver in like manner II bimetallism
is not "a snare and delusion." Congress
branded silver as unworthy Of association
With gold when IL passed the present law
limiting the quantity of silver to be coined
annually instead OF making its coinage as
free as the coinage Of gold. The law dis
credits silver by causing it 10 be coined by
the Government instead Of by the miner,
as Mr.. Cxnsuscm would say. Open the
mints, Mr.. PosrER. and the miner will find
his way thither. II not, he has no metal
worthy to be coined.
In fine. the new Secretary has no opin-
ions on the silver question which can CON-
mand the respect Of either the bimetsilists
or the monometallists. He is mere
trimmer. He no doubt speaks for the
President. but what he says IL not worth
being listened Ia. Like master, like man.