Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-09-06

vslue under the Constitution and inws OF
tho United States since their indepond-
ence. except during the few years when u
was surreptitiously domonetizcd by piece
OF fraudulent legislation. IL Ia good
enough dollar for the American people,
and an honest dollar. It's free coinage hs.
been allowed during the greater portion Of
our national history. and would be al
lowed now but for the fraudulent legisia-
ton which has been alluded 70.
Tho question In not Of dsbased money,
and those who object to trecly-coined 81;
yer make an apprehendod p'enstnn on gold
the ground Of objection.
HON. JOHN sHERxiN.
Mr.. Sherman. IN his speech last week at
Toledo, o.. which was moro remarkable
ehid about silver and free coinage. made
the premium on gold the burden OF his
fears. And Sir. Mckinley, n few days be-
fore, forgetting that IL his protective tarih
really protects II viii produce q balance OF
trade IN our favor that will bring Us
all the gold we can find any
use for, also INDUCED in Sberman-like
approximations OF gold premium. 1t is an
awkward fact that in its first year of trial
tho Mckinley bill has sent more gold out
OF tho United States than was over lost in
can commerce.. In view,of this phenome-
pal incident OF that measure, is II possible
for the country TO regard the pretence OF
hes.rs. Mckinley and Sherman that this
fight Of gold was due to fear of an ex-
pectcd free-coinaes law o, anything else
than pltiable subterfuse?
Tho two statesmen dvelt in concert
upon the misfortune OF premium on gold
and do not venture 70 decry tho silver
~ Ia - toh
nsnd. and demand because it will stay
with them and will not disappear whom
ever it is needed. Silver coins. protected
in their monetary function by the Consti-
tuition and laws. are a good enough money
for them whether gold goes to premium
or not, and to refuse them silver money
for any reason connected with tho ups and
downs Of gold 1, to do them grievous
wrong. The two statesmen forget the
right thing and let consequences take care
Of themselves.n
NO TERRORs FOR TIE PEOPLE.
A premiuB on gold has no terrorsfcr the
people OF this country. Sometimes large
issues OF irredocmable paper money pro
duce marvellous prosperity In country
rife With latent enterprise and activity.
The elder Peel. one Of Englands most sue
crsstul manufacturers and merchants,
always stOutly maintained that OIL incon-
vertible paper currency was mainstay
OF national prosperity and hts opinion was
shared 10 his day by the great body OF his
countrymen. The dudslet 6nanciers OF
our times would receive such proposition
with lisping prote.tation. but Mr.. Psel
wac sthlwsrt thinker, spractical nnancler
and millionaire, whose capital Was thu
patient accumulation on honest prohts in
business.
1t is notorious tina. the greatest fortunes
Of the North were made IN the period
during and after the sectional war. whom
gold WAS AZ its highest premiums, and
that to the enterprises planted and prose-
cutod in that period most OF the present
wonderful prosperity Of the North is due.
But we sIs not now debating tho expedi-
ency OF an inflated system Of paper, but
are simply considering whether We shall
have dollar freely coined, which has
been tho American measure Of value since
the beginning OF American independence,
and have II at the risk OF the contingency
of gold being driven 10 premium oVer 1t.
Demanding metallic currency. such as
our fathers ordained and upon which our
republic he's grown to unexamplod power
aud opulcnce, We are called upon 20
dc.ist from tho behest, lest, rs Ar. Sher-
man aud Mr. Mckinley threaten. the bond
dealing class by means of GOLD bonds and
gold cornering shall send gold to pre-
MUM. Such o result will be no new thing.
Gold has been At sn unacknowledged pre-
mum for mora than hftoen years. In al
these years the prices OF properties and
products have remained on level with
silver and have shared with that metal
the depreciation contriyed by creditor
nations aud the bond-dealing classes. To
declare gold TO be at premium IL but to
confess long-conccalod and much-denicd
fact, ard the open declaration will break
no boneA
WARNING.
Lot tho monomets send their gold to q
premium. Let them hold II up as high
and as long as thoy can stand the expert
ment, until the people discover that in
paying debts they pay principal, interest,
and premium. Then. sooner or later,
| cataclysm will come; and the old story
will be realized once more, whom the
gods would destroy they Grst make mac"
| Deep.seatsd wrong powerfully enforced is
rarely righted by conservative processes.
| The stern brow, relentless will, force pur-
pose. rough hand. and agonizlna throe OF
revolution more frequently comes into re-
| QUESTION, uprootirg, rebuking. and curing
| the wrong. II will not be the peoples fu-
neral. Yours respectfully,
10. w. HCaHEs.