Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-01-07
WEDNESDAY. !. JANUARY Z, 1891.
What Il Means.

on Monday that 1t would substitute the
silver bill for the force bill--that is, would
drop the latter ard proceed OF once to con-
slider the former. better known as the bill
20 provide against contraction OF the
currency--,nust commend itself to the IN
biased judgment Of every patriot as just
what sense OF duty demanded OF that
body. Surely il was fddlins whilst Rome
was burning for tho senators TO devote
their time to the consideration--or pre-
tended consideration-of the force bill
whilst such ameasure as the silver bill was
demanding their attention.
The break in the Republican lines oc-
CURED Just where every close observer OF
the signs of the times had expected 1t to
occur. The silver States--that is to say,
the Pacific States and other States not
quite so far west-furnished the few Re
publican votes that ii was necessary for the
Democrats 10 have IN order to be able to
substitute the silver bill for the force bill.
Messrs. JONES of Nevada. SHoUP, STAN
FORD, McCoxHEII. WAsHBURSE. STEWART,
TELLER, and WoIcorT cast aside all party
considerations and voted as their constitu-
ents and their consciences told them they
ought to vote.
But let us not fatter ourselves that the
force bill is regarded by the Republicans
rs beyond the hope of resurrection. What
ever we may think as to the probable fate
of that measure we must not rest on our
oars. The snake is scotched, not killed, we
may well fear when we are told, as we are.
that the malignants have determined to &c
cept their defeat of Monday for what it is
worth and proceed to endeavor TO unite
the Republicans in the Senate upon the
force bill. which they expect to reach at
m early day. Here let us say, by the way.
that we are not disposed to credit the
statement that such monometallists aud
servants of Wall street as JoHs SHERMAN
are ready 10 send over to the House OF
Representatives in time 10 insure its pas
sage by that body at this session any
such measure as the one now before the
Senate. Mr.. SIBERIAN terms this measure
revolutionary one.
This Revolutionary measure is bill
providing for the free coinage of silver.
II is Just the measure which we have
urged Congress to adopt in order to test
the question of the practicability and de-
STABILITY of opening the minis to silver
upon the same terms upon which they are
opened to gold. We have also advocated
il upon the ground that TO provide for
buying monthly definite quantity OF sill
yer and coming only that quantity is to
discredit silver and place it at disadvan-
tage as compared with gold. Possibly 1T
may be unwise TO coin oil the silver which
can be brought TO the mints. but certainly
It is unwise to discredit the very metal we
pretend to be helping to its feet.
Is the United States Government able to
become sponsor for all the silver dollars
which the minis can coin? In other words,
can our minis coin for all the world and
still keep silver at par with gold? We have
never been confident that this country
could do so. though we have been willing
20 try the experiment. From 1898 to June
90, 1886, the gold and silver of our own
production deposited at the mints and
assay offices amounted to 1858, All ,674.S3
(ncluding refined and unrefned bullion),
of which only 1886, 73l .55I.39 was silver.
The average gold and silver production Of
this country. Is about $Si,0O0,0O0 of the
former and S5l 900, 600 of the latter. There
fore, the United States Government need
not fear 10 open the minis to all silver of
our own production solong as the quantity
is no greater than il has averaged in the
past. 1t is the silver of foreign production
and the increased production Of the world
that we have cause to fear. If indeed there
be any ground for reasonable fears. We
own that we are not satisfied that both the
foreign production and the home pro-
duction may not be increased to an amount
inconveniently large--too large possibly
for our minis to handle.
What il the worlds annual production
of gold and silver. In 1886 1t was S97 ,761.-
900 Of gold, and S130, Ss3,00o of silver. So
that the United States produces little
more than half the gold produced in the
world, and about one fourth OF the silver
produced in the world.
II there were no prospect OF an increased
production as o consequence OF the OPEN
ing Of our minis to the free coinage OF sill
vor there would be no occasion TO appre-
bend that an unmanageable current OF sil-
yer would flow into our mints. This Is our
only reason for doubling the expediency
of the free-coinage silver bill. But when
we look over the lis. OF the names Of the
statesmen who have no such doubts. we
feel strengthened in the opinion that the
experiment ought TO be tried. Not much
harm can result. Silver will either vindi-
cate its claim to be regarded as the equal
of gold or else viii hold its position so
little below gold tAet any imitation of the
currency which it may occasion will only
be q F" healthy" imitation. When the worst
n over great lesson In political science
And financial science will have been taught
20 the world. All countries will profit BY
Il, and tins country viii proceed at once
to provide for the best currency the world
has ever seen.