The times. [volume] (Richmond, Va.) 1890-1903, 1893-09-16
MAJOR DANIELS SPEECH.

1t is OF course gratifying TO Virginians
that her popular senator. Hon. John w.
Daniel, should have received the atten-
ton and applause awarded him when he
delivered his speech in the Senate on
Thursday opposing the repeal Of the
Sherrnan act. but his judcious friends ana
admirers amongst the people of Virginia
wish he had spoken on the opposite side,
or, IL he could not do that. that he
had then remained silent. In Speaking as
he did he is giving all the aid in his power
20 theories and legislation that assall
every valuable interest in Virginia and
when. in closing. he made his appeal for
continuing the operation of the Sherman
law 'in behalf of our banks, in behalf of
their depositors. in behalf OF the railroads,
In behalf OF investors" we want all the
world to know that he is appealing in
behalf OF banks, 6epositCrs, railroads and
investors somewhere else, and not in be-
half OF those in Virginia. These want no
APP calls in their behalf for any such
object. When he said that his appeal was
chinery rusts in mines OF wealth." II he
Tad added "silver miners we could have
understood the force of the appeal But
nin6rs OF all other metals refuse to
receipt him as a spokesman in their behalf,
and protest against his sentiments as
do our bankers. our depositors. our rail-
rads and our investors
What seems to have been a principal
point In Major Daniels speech is the
proposition that thing is only valuabia
~ there is a use for It. He says that
IL you are building n house and have
bricks left over. these are of but little
value. with other Illustrations TO the
same effect, the argument being that when
there Is a great amount OF silver bullion
for which there is no use IL must for that
keep up in value If there was a use for
H. Major Daniel would therefore provide
n use for silver by compelling the govern
ment to buy 1t all and turn 1t into coin.
Does Major Daniel really believe that
a use in the sense of a valuable use, can
be made for anything by a piece of leg
islation? IL there is no demand for the
thing, there Is no use for II, and II can
have no value. When he has completed
his house. finding a considerable supply
OF extra bricks on his hands. II a neigh
Dor were in the act OF building another
house on the adjoining lot. he would be
able TO sell his extra bricks for. perhaps,
as much as he gave for them. But IL no
house were going up near him, ne might
be unable to sell them at all. Now, does
he believe that any legislation in the
land could provide valuable use for
his extra bricks In the absence OF the
building OF other houses. except by pro-
viding for the building OF unnecessary
public buildings? And. II II could not pro-
vide a valuable use for his extra bricks,
how can II provide q valuable use for
the extra silverf The value of the bricks
depends upon the demand for them by
people who have actual use for them,
and the value OF the silver depends upon
the demand for II by those who have
actual use for H. and no legislation can
make any proper and reasonable demand
and use for either. but only an artificial
and temporary use. which must have a
violent reaction and downfall as soon as
the arbitrary and unnatural support Is
withdrawn-as withdrawn it must be by
the Inevitable influences OF trade
Our government should do no more than
take action for our people upon the act
un and obvious facts OF trade and
finance. The government must deal with
fsetA not fancies. 1t is q fact that the
people Of the United stateA and the peo-
pc OF Europa believe that one ounce OF
S"a y worth mere than sixteen ounces.