The times. [volume] (Richmond, Va.) 1890-1903, 1893-06-30
my DynAsEp DOLLAR THE CAUSE.

The New York journal OF toHhefc"'
reviewing the causes Of the financial
state of the country, after pointing cut
tba, the debased silver dollar with It's
threat TO pay dollar with little more
than aftv cents was what caused the
abridcment Of confidence. adds:
Tho fears Of the New York banks
eoread with quick contagiOn through the
entire banking interest Of the country.
showing that the apprehension connected
with silver was really universal In no
other way is IL possible to account for
the extraordinary rapidity with which
this decentralization has reached every
nook and corner OF the country. The evil
aence Is plain that everywhere the bank
ing interest has been affected 10 the
verge OF paralysis by the fear that Con-
eress NAV fail 10 retrace It's periious
course on the silver question. 1hat we
conceive TO be the central fact, almost
the exclusive explanations OF the prevail
ing financial distrust. No one really IA
mlliar with the real condition OF business
Will attribute II 20 any unusual unsouhn-
,sss ~ credit or any unhealthy features
I'm trade. on the contrary, It Is every
where conceded that business has been
healthy and prosperous and that there has
been a minimum Of speculation. The trou-
HE centres in the fact that our currency
system has been trihed with TO the verge
Of debasement and utter confusion. Let
Congrsg take due note Of the moral.
The two cardinal points Of this quota
ton are unassailabe The apprehension
first took root in the banks Of New York
city. because they are at the centre OF
financial intelligence, and what is going
IN have an influence on money IS known
Of there before II is known anywhere else
This apprehension, having once made
Judgment there. spread like contasioh
10 all the other banks OF the country
these being the first to learn OF 1t IN
their neighborhoods. and from these II
went gradually 10 all the people OF IN
telieence near TO them. The dull people
were. OF course. quite long in finding out
the real danger that was threatened, but
even the dulest are now beginning 70
learn IT. II Is also equally true that
there was nothing whatever In the ac-
tual condition of affairs In this country
0he debased silver dollar being left out
Of the ACCOUNT to warrant the scare
that has been raised. There had been no
overtrading nor excessive speculation.
Business was upon a perfectly sound
basis with prosperity ahead Of all. But
the wiseacres who think statute law can
DO all things, who believe an act Of
Congress can make thirty inches a yard
or three quarts a gallon, or clothe a man
with power TO hold himself out Of a third
story window by his own coat tail-these
smart Alexis must insist on making all
debtors richer by authorizing them 10
pay their debts at the rate Of fifty cents
in the dollar. They see what they have ac-
complished by it. The creditors and those
having money refuse 70 be robbed. They
force payment Of their debts before the
dobased coin can hurt them. and they
lock up their money, refusing the use Of
it TO debtors The smart Alexis Of legis-
lation ruin the debtor while aiming at
the creditor, and bring ruin and bank
ruptcy on the country at large. They be-
gin TO learn something, however, e IS
TO be hoped. is the Dispatch ready to
give up its heresies and fan into the
procession?