Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-04-09
Mr.. wiIliams's Bin.


Il u unaccountable thst intelligent men
should advocate seriously such PROPOSE
tions rs the one contained in the bill which
Mr.. WILLIAMS, OF North Carolina, offered
in the national House Of Representatives
on Thursday last. II Is in effect bill
providing that the United Statesshall give
20 the several States hundreds OF millions
of collars. Nothing is to be done to en-
title the said States to draw these hun
dreds of millions of dollars. The gift is
70 be free one. though of course the bill
proyides that the money is to be returned
70 the United States upon the demand oil
Congress. Bot inasmuch a. the members
of Congress would represent these same
indebted States, we all know that no de-
mand tor the return OF the money would
ever be able to pass through Congress-
especially as the States would have to pay
no interest upon the money thus borrowed
from Uncle sam.
But what would the several States do
with the hundreds Of millions of dollars
which Mr. WILLIAMS proposes to lend TO
them? The inference is that these States
would lend the money to their people. But
what small sum each State would get
coptfssted with the hopes that would be
excited by the announcement that each
State had millions of dollars to lend 70 IT'S
own citizens Fiat greenbackism would
not be too harsh term to apply to MIR.
WuIAMs's scheme. which seems TO nave
not one good feature. An idle. worthless
population might be expected to take the
place. under the operation of such law,
of the self-dependent people whose thrift.
honesty, and industry are credit to each
and every one of the States in the Union.
II is to kill of such wildcat projects as
that Of Mr.. WILLIAMS that some at least OF
the friends of the free coinage OF silver
have supported this latter measure. Silver
money is always and everywhere good
money, even when not equal in value to
gold DC to y. Fiat greenbacks are not
money at all; and as advocated by most of
its favorers would be nothing better than
70 much wildcat currency. Its advocates
propose and desire TO make it, to use their
own words, full legal tender that is to
saw. they propose to issue greenbacks
which shall be declared by law and upon
their face irredeemable. but shall be made
receivable for all taxes. customs-duties,
&c. &c. These "greenback lunatics," as
they were styled in 1878, really believe that
IN irredeemable greenback can be made
the equal OF gold and silver by simple
act Of Congress.
What is to DO done when the fiat-Green-
packers on the one side demand large
supply of this so-called full legal-tender
money" and the monometallists upon the
other side demand that gold shall be the
sole measure of values in this country ?
How is the Chicago convention so to act
In making Its nominations and standing"
its nominees upon a platform as to satisfy
the fat Greenbackers as well as "old
gold" advocates? The Democrats have q
difficult and dangerous path to pursue,
one beset by men who contemn sound
financial theories, and will find it diff
cult to thread their way among the intri-
cacies of the path. but they must not cease
90 work for the good cause until all diff
culties of all sorts shall have been re-
moved. "