Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-04-01

Blind Leader Of the Blind.

BIND Leader OF the Blnu.
Whenever the SILVER question comes up
In any shape before Mr. SHERMAN he takes
occasion TO advocate the adoption of the
silver proposition which be made years
ago in the United States Senate. He is
truly Bourbon on that question, seeing
that he learns nothing and forgets moth
ing" His proposition was restated by
himself IN letter which he wrote to the
great tariff banquet held in Ohio this
week, aud is as follows:
"Tho real remedy Of the silver problem is 70
put into cur silver dollar enough silver at
market value 20 be equal to a gold dollar, ana
70 maintain all forms Of money. whether coin or
notes, of equal or interchangeable values.'
In other. words, the real remedy OF tho
silver problem" is 10 convert all the silver
coins IN the United States into bullion, or,
TO state the proposition in other words. is
TO dscredit our real money-made OF one
the precious metals-and substitute TOR IT
"A silver currency having neither more nor
less value than 50 much silver bullion.
Let the reader imagine what would result
If the United States minis were required
to coin each day silver dollars having the
exact value Of 4l2i grains of silver bullion
on that day. On Monday these dollars
would each contain 40 grams of silver.
on Tuesday 430 grains, on Wednesday 40
grains, on Thursday 500 grains, on Friday
4OO grains, and on Saturday 4S0gralns. The
coins OF no two DAYS would have the same
quantity of silver in them. and each would
therefore have value peculiarly its own.
or perhaps we ought to say a want of value
particularly its own.
Who would DO benefited by such law?
Who would not rather have paper cur
rency? Why, silver certificate would he
far preferable. Nobody would know the
value Of the bullion IN silver dollar OF
any days minting. and nobody would ac-
cent such CONS as money, whereas each
SILVER certificate would at least have the
value Of aereenback for the same amount.
To what possible use could such silver
dollars be put?
Mr.. SHERNAS's proposition assumes that
the people need more silver money; but
it cuts its own throat in providing that In
stead of giving them more silver money
Congress shall give them more silver bui-
lion. and silver bullion at that in the shape
of silver dollars and not 10 the more con-
venlent form Of silver bullion. We do not
know that this country needs any moro
silver money than it has. but we do know
that there ought TO be a currency or mo-
ney other than gold for use by the people,
nine tenths Of whom never see gold coin.
Gold dollars are too small for common use.
Gold halvesand quarters would be nui-
sance. There ia nothing except silver out
OF which money intended for general CIR
cuIation can be made. If we make it out
of silver we must provide that its coinage
shall be as free as the coinage OF gold;
otherwise the government will work tor
nothing for the rich and charge the poor
for the same kind of work. Suppose the
government were to make silver the only
legal tender for debts due itself and debts
due from man to man, who would adyo-
cate such a law?
We do not know, we repeat, that the
people of the United States need any
more silver money but we do know that
gold promises TO be too dear before an
other government loan for fifty years be-
comes payable TO be serviceable as money.
Like the prisoner who saw day after day
that his narrow cell was contracting IN
size and that he would soon perish for
want Of air. the people who look ahead can
see the near approach of the day when
gold will be 30 valuable that it cannot pos
sibly he continued in use as money. The
values of this country. for example. in
crease much more rapidly than the guam
tity of gold mined. What is the remedy