Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-06-09
Judge Hughes on Silver.

Judges HCGHRs 10 stateomqp. his
thoughts run upon public matters. He
always occupies . high plane. HE
opinions are grounded on what he holds
to be . safe foundation. He fears not
the albeit controversialist that can be
pitted against him. We are not sur
prised, therefore. to find him discussing
the silver problem without Any reference
to what other persons are discussing. ~
be did In the DrsPArcH Of yesterday.
He has not . doubt that he
IL on the right tack. And let
it be observed that he regards
tho international bimetallio conference
as . tub thrvwn TO the whale. He does
not believe that the proposed conference
will result in any good to the world. De
does not credit the several parties to the
projected worlds debate on silver with
being any better than monometallist
stool-pigeonA il We may be allowed to
speak 90 unexpectedly Of the gold mag
mates who win represent England. Ger.
many, France, &C., &C., in what Mr..
HARRISON claims we believe, will be .
convocation OF his own origination.
For our part we always have to con-
fess that we regard the proposition to
provide for the free coinage Of silver az
q proposition to try On experiment which
may result in the greatest possible bene-
fits to the whole commercial world, or in
manner which may disappoint our cal
culations. To US free coinage Is not by
any means plain sailing, but one thing is
certain, and that is that if the United
States Government has paid of more
than thousand millions of dollars OF
its debt sirce 1865 (1873 10 the date OF
the "great fraud,' as Judge HUGHES
calls it), yet still owes more now than it
did then if expressed in terms of wheat.
cotton, or tobacco, then fragrant wrong
has been perpetrated upon the people OF
this country. In other words, If it
would take more pounds OF cotton to
pay the public debt now than it would
have taken in 1865 or 1873, our legisla-
ton has really resulted in paying not
one dollar of the national debt. And If
4l21 grains Of silver bullion will now
buy as much wheat or cotton as it would
have bought in Is 8 or 1873 and % $40
grains of gold bnllion will buy much
more, then it is evident that silver has
not lost its purchasing power, but gold
has increased in purchasing power. Let
US quote Judge HUGHES on this point
"Crops and general property retain In rela-
ton TO each other the same comparative values
as before the great fraud; but measured In
money, under the gold stendaId they command
less than 20 cents Of their former rightful
prices. The result is that the values OF pro-
perty and crops being the riRhtful par of prices,
money has been forced UP In value, the bankers
and bondhoders' dollar having been made
worth s1.5O And now when the farmer sells q
dollars worth OF wheat or the planter dollars
worth OF cotton and seeks with the proceeds to
pay his debts he finds that every dollar which
be paws has been made to cost him *1.50, mea-
sured by the pricee which his crop comm hands In
the market
"Deprecisted prices are the calamity Of tho
day, ana the depreciation Is universal with but
a single exception. All interests save ono are in
distresA Farm lands, wheat, cotton, meats,
grain and all products Of labor In the country at
large are down In price 10 less than &c cents OF
the dollars true worth. One crop only remains
unsettled. It is the crop Of sterling coupons,
tho crop OF interest collected quarterly, semi
annually, or annually by the banking and
money-dealing classes, the class which has
s,rivcn 30 successfully 10 make every money
dollar worth dollar and half Of the property
dollar. and 90 taboo al who protest against that
questionable achievement"
We need add nothing to that indict-
ment. Will the Democratic National
Convention declare for the Fighting OF
these wrongs and for the restoration OF
silver money to its proper place In the
financial system OF the country !?
Hardly. Silver has been sidetracked by
men OF our own party, and now awaits
the action OF bimetallic international
conference, which will har' y meet this
year, and may moi report for two years,
and then in favor + monom .tallism.