The times. [volume] (Richmond, Va.) 1890-1903, 1893-09-07

your coinage bill for the United States.
10 be sent 20 me. and you express a wish
20 receive A criticism on It's provisions.
"Sec. u. I now come to the most impor-
tant part Of the bill; that Of the Valuation
which. according 10 section IL, omits the
coinage Of ,he silver dollar. and confirms
the debased silver coinage OF half dol
lars and below. under the tender limit
OF s. am aware. or course, unst
through the amendment of 1853, the same
debascd coinage was already established,
but although the actual coinage or the Sill
YER dollar had practically ceased, stu
the piece was not abolished by law. AS
this new bill presumably repeals all pre-
vious enactments. / suppose that the total
abolition Of the silver dollar Is contem-
plated
I'm my book (Suggestlons) I enter fully
into the discussion OF this matter ana
show the gigantic consequences TO inter
national as we'll as national trade through
the characterization Of silver, 70 whlch
the United Stats would thus lend a help
ing hand and for a number OF years this
subject OF the abolition OF silver as ten
der coin has occupied the attention OF
European ecor omists. IL Is the question
OF the age. and takes precedence Of every
other matter involved In monetary
science.
''The great portion Of English economists
defend the gold valuation. but several Of
them have lately COM over 20 ny Views;
and one NJ them. the most important
and n staunch defender OF English insti-
tutions, 10 whom l shall presently anude,
has agreed with me as 70 the ACCESSIBILITY
Of modifying the English gold valuation,
10 cf than that 960nfp6
by your bill for America These pages
do not afford room for the whole discus
sion of the subject. therefore / beg you
will read Tarts Of the books quoted, so
as 10 form an opinion Of H.
Apart from the theory. why should
America have given up her silver dol
lar? The cause Of its disappearance from
circulation is due TO the original error Of
there being too much silver in the piece
fsee page 30 Of Suggestions) that cause
would have been removed II the dollar
weighed 400 grains, that being the true
proportion OF ! 70 u IL gold 10 silver
instead Of H2 ~ grains. as by the old law.
"Why should II not be introduced at
It's true full weight Of 400 grains and be-
come again one Of the active agents OF
commerce. The charge Of weight as
against the Individual piece does not hold
good when two half-dOlars are OF nearly
and steam transport large maoses with
great facility when compared with pre-
vious times.
"Do you fear IT'S undue expectation? II
so, exported America will get its equiya-
lent for IT, and the rich silver mines OF
the country can give any fresh supply
OF IT,; therefore the more IT is exported
the better II is for America.
Il think that the United States, with both
fe In. Ir. f.rrtf-
nently favorable position Of uphoding the
full use Of both gold and silver. and that
the double valuation Gas Il existed before
would be Of great benefit 20 the country;
but you may nevertheless. giving way
10 the one-sided arguments Of English
economists, incline to the gold valuation
and express the fear that II America
adopts the silver dollar and lays Itself
open TO the coming OF these pieces for the
public 10 whatever quantity Of silver may
be sent in from coinage from abroad and
II full legal tender value is given 70 such
pieces, It may be placed in danger of
losing gold and obtaining too much silver
currency
81 venture therefore TO recommend TO
you the introduction Of these clauses
in favor OF the silver dollar. At all events,
! hope you will fully investigate this sub
ject before you commit America to this
course Of the one-sided gold valuation"
The letter is very long, but it is
most persuasive and powerful argument
from beginning 10 end. for bi-metallism
at the ratio of Is IL to ]. Every Populist
can read it himself in the Congressional
Record for August 23rd, 1893, which his
Congressman will send him. Nevertheless,
we shall see them going right along with
the statement that Ernest Seyd bribed the
United States Congress TO demoneuze
silver.