Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-09-20
Tho gold bullion that makes q dollar can

tho silver bullion that makes dollar tho
right to become such without cost, and 1t
is obliged TO come up to the dollar value.
3. Gold bullion IL now ut premium ~
compared to silver bullion: This has not
caused tho silver dollar to be worth less
than q gold dollar. BRING tho bullion
values closer together by equal rights,
make the gan between them shorter, and
your argument IA necessarily that as the
bullion values coma together the dollars
will 60 apart, This is not natural result.
4. n the gold dollar did 60 70 = Uranium
over the silver dollar 1t would bc better
for the country TO paw that premium
trausiently III silver than to continue the
low plano o. prices for produce and la
Dor.
b. The promium would he transient, and
the result, a. YOU c0nceds OF tho combl-
nations, toccrner gold. Corners DO not last
long unless the law sustAins them a. 1t ~
sustaining tho gold corner TOW. Should
the banks and tho creditor classes force
gold 10 n premium, IA you predict. the
country can then deal understanding
with tbe question and with those who
prostitute law 10 tho ends of aggraudIzc-
ment.
G. Bu, dis.rust the prophecy that gold
| will 60 10 premium Ut certainly will not
unless forced to II by the combinations
YOU dcscr.be), when | sec that tho gold
men are opposing frce-coirage OF SILVER.
As you justlysay, they do what to tnrlr
interest to do" il IT their interest TO pre-
vent a premium on their own hoidlhss
II free. coinage Of silver would drive gold
to a premium the gold mon would FAVOR
II, and take che premium VITA reii'h. -,
7. The debtor. .oi gold obiEstion'-thc
railroads and others who have been CON-
PEELED 70 make their bonds payshi' fpecih-
cally IN gold 81 present standard ana nue.
ness will he the sufferers from tao pre-
Iniums thcy will have TO pay. as you pre-
diet. VIII Ell iree-coinags of silver comes.
Should such result arise then these pew
| rnfercrs W III Join tho people IN hreahlu9
| tn. cold rings that Cypress tlcm. Inc
| na.ss, d. not in then daily transactions
contract 10 paw gold. They never even
Sc. gold. SO lii'ls IL gold for them hst
| the mint has ceased 20 com gold dollars.
| The farmer. the cr Ger, the mechanic only
| hear 81 gold IS th.v hear Of CrGsu', and
when the gold shoe pncheS ono class Oh
! corpOrat,ons that are compelled TO give
premium for gold in ordor TO pay others
| who arc squeezing them. then the people
will nave an ally 10 help thcm TO compete
| the parity of the two medals by breaking
| the gold ring that parts them.
WILL FkrE-sILyHH COINAGE DRIVE GOLD
iB8OADl
! Some say it viii. Tho recent New York
! CONVENTION at Saratoga expressed the no.
ton that tho increased ISSUE OF silver
! under the silver purcnase act oil ls.W drove
! abroad "Onc tenth Of our gold" Not
. that mucn went abroad by the statistical
| report. and the amount that ala 60 IN
| $3.50 'gl was moved by two causes-l.l 10
| uay for the increased imports hurried Tor
ward t. ret ahead of tho Mckinley tarif.
| a. TO psy for stocks Of foreign holders
| which were thrown upon the market
| hy the Argentine troubles andi the
| CONSIGNMENT embarrassment. of the English
bankinc-hou.e.. his gold would have
| gone away whether We had increased Sill
yer or not. The auscs were apart from
| and independent q silver coinage. We
are still Issuing more 81 yer, and gold IS
| now coming hack. This fact refutos the
| New York theory. II lie important TO con
s.der what We would have done with
| out our silver when our gold was g.
| ING away and pane threatening. Silver
saved rs from impending bankruptcy, and
| although gold went away 4 dd nat 90 ~ a
| pr,pi,unl By preserving our credit silver
is now bringing gold back 10 rs.
| WILL IREt-.LyyR COINAGE CONTRACT THE
| CURnkNCr?
You think il will. cannot see the pos
| siblhtv much less tho probability OF such
| a result lie staple Of QUERY against tree
4
| that il would produce al Oyer-aDundance
| Of cheap money. Some Of the papers
! have compared u to Confederate money.
| and bewa.led the pOssibllt, Of 80 much
| silver money that, rs Ia Confederate DAYS,
| thew would take the money 10 market III
| basket and bring the proceeds back IN tie
| ,tst-pOckct. The cry OF ireshet l. now
! beng substituted blythe CRY OF drought.
| The satyr TINT blew hot and cold gave The
4 of
! silver.
! 4 cheap currency and contracted cur
rency are paradox cal 1t is scarcity that
makes money dear II is plenty that makes
| il cheap. AZ the gold men. after ton
years prediction Of silver de.uge, are
now driven to the reverse argument that
| fee SILVER will make money scarce and 90
dear tina 1t Will crush debtors 70 pay 1t
Was there ever = palmer recuc'lo al G0sT-
ddm'
THn DOUBLE STANDARD.
You admit that the world'sprospcrity"
! il involved IN the double standard Of
money. This being SO. those who arc
! seeking 10 restore u must risk some
| thing 10 win II. Nothing venture. nothing
| have. We cannot take bond OF fate. Ihe
| illt We have from too little money-wlth
| natIOual-hauk notes retiring, and wl,h
gold only admitted t. flee cOinage-are
more money. even itsome Of IL IsnOt at all
| times a. par with tie rest. The double
| standard lie not ideal. Two eyes are better
| than one even II not N precise focus: and
| two arms better than ono even If one =
| long and ono - short. Nature provides
| abundance al the sacrifice Ofpdeals. Why
! III this abundant land put OUt the liver
| eye even # II squIEts little? Why am
| putate the silver arm even If litlo
shorter: Apply tho remedies and cure
| the inequalities when VS. come 10 them.
SHALL W. ALONE pnciAGr Ios rREA CON-
hGEr
Your view il that We cannot alone restore
| silver 20 parity with gold. II you mean
the silver dollar to parity with the gold
dollar answer ve have done IT, 4 silver
| dollar viii to-day buy "a much gold bu.-
hon a,a gold dollar will buy. So savs tue
Director Il tao Mint IN letter 10 me. If
| vou mean that we cannot alone restore s,l-
yer bullion t. parity with gold bullion,
my answer IS ~ tLst We dad do this
| very thing until 1873: I'D 10 II after
Germany had demonetlzsd silver; did 90 II
hv free coinage 81 silver. and nothing
else can don't ~ Who y hart ( We do not
do It "a long a. We pEcssrve the silver dol
| lar at par with tie gold dollar? CD Cor
tainly We sre not restoring bullion parity
bv present policy. a. Putting more silver
| IN the dollar will not DO II, and did not DO
II. We lad twonty-six millions of trade
dollars with so grains Of silver IN them.
The, wer, worth only 50 cents. but the
le,al-teuler silver dollar Of ii1;3 grains
| ~. grains les.) was worth ~ tho same
time ~ much asa goll dollar and is now.
II wa. tho power ot legal tender that did
/ II, and n attempting To exercise tins pow
er III company with Tree coinage the silver
men are not decelving the country but
marching IN the clear hight of acknow-
lodged facts and recent experience.
SHALL VIZ WAIT PoE OTTER NATIONS TO CO.
oPEniTz ron FRYE loINAGfI
! If YOU mean b. saving that We cannot
"alone" restore silver t. parity with gold,
| that we must Wait for other nations to co.
| operate with Ne. / answer that this IS
VANITY Of vanties." International dlplo-
macy has piled is arts al rnusedm. We
had a. well wait for falling skies and lark
catching. In 1915 there was al interna-
! tioaal convention at Paris. Our commits
sioner. Nr. Rug.les, WAS there urging that
the sngle-gold standard WAS our idea,
yielded to reluctantly by France In
! 1851 another. No result. IN 1899 another
with the South American republics, and
the same old story. international conven-
ton is mere rtlse 10 01t3r. of the gold
men 10 procure delay and engineer impedi-
ment