Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-03-15

STAUNTON. VA, March H.-tSpecial.)
The Stanton Post publishes this evening
the following pertinent letter from sena-
tor Daniel touching national financial
legislation, the silver question, and the
tariff:
UNITED STATES SENATE.
WASHINGTON, ID. c., March IL. 1881.
Arthur II. Taylor. ESQ.,:
My Dear Sir,-Permit me TO express
my acknowledgements and thanks TO you
and your associates for the Kind words
spoken Of me in the Post. and for the
just sense which you cordially manifest
as to my course In the Senate.
Mistaken / may have been mo one can
afford to be dogmatic about finance), but
so far as motives are concerned / know
not what motive other than a conviction
Of public duty could actuate Democratic
senator In opposing measures brought FOR
ward by an administration OF his own
party with which his interests are identi-
fed. And whatever any man may think.
have certainly had no motive but 10 act
straightforwardly on the lines OF the
Democratic platform and on the best In
terests of my constituents.
One year ago, In February. 1898. the I'M
conditional repeal Of the Sherman bill
vstr Nfitdttu ny tnS NtH-Ui6H ~
rnocracy OF the Senate. Its unconditional
repeal was n Republican proposition,
headed by Senator Sherman. and 1t was
confronted by the Democratic party and
by them defeated. When 1t was again
proposed last summer, in extra session.
j felt that in repeating IL we should carry
out the Democratic platform ito coin
both metals gold and silver without dis
elimination" This was our party promise;
TO this we were pledged. and this for my
part desired TO fulfil. II we did not then
do 1t i felt assured that difficulties would
Increase; that the demand for silver ere,
ated by coinage would be diminished by
its cessation. the bullion be farther de-
preciated. and the ability of legislation 10
restore bmctallism greatly curtailed.
PROPHECIES FULFILLED.
The prophecies / then made have been
already fulfilled. Silver has fallen in
value; and every difficulty to restoration
has been multiplied. The spectacle Is
presented OF the greatest slver-producing
nation of the world destroying the foun-
tain OF it's own inestimable riches. and
pandering TO Great Britain which Is build
ing up its gold mines. having none of
silver
The prosperity predicted to ensue upon
the repeating measure has failed to APP
pear. Senator Sherman predicted good
times In ten days. But the months roll
on and the wolf is. still at the door. The
diminished supply Of metal money has
caused continuous shrirkage in govern
ment revenues leading TO an increase OF
the national debt. Local revenues are
also diminished. leading to Increase In
many places of local taxation The prices
of farm products and OF manufactured
goods have felt the frost-bite in ike
manner The cities are crowded with the
breadless. and In the country wheat Is
fed to hogs.
Investors have found securities shrink
ing in value. and debtors have been
thrown into hopeless insolvency The
movement from bimetallism to monome-
talism has been like an arctic wave on
all the Industries of farm and workshop;
and the world is to-day pinched and hali
starved for money in the midst OF boun-
tiful crops. and with myraids Of brawny
arms and fevered brains begging work
and finding none.
TARIFF NOT THE CAUSE.
We will be told that the tariff Is at the
root of these troubles. So 1t Is here IN
the United States to a large degree ana
for that very reason should have been
Htitu OH al year dbp' bNipiN w
the sherman proposition. and at least
when we were doing So and in precedence.
But the tariff Is not the cause OF the
world wide financial disturbances in Ger
many. Italy, the Argentine Confederatlon'
Australia, Guatemala. and other countries.
They and the rest of the world are SUI
ferIng financial chills, largely caused by
the cold. monometallic wave that mas
swept over Europe and the United States.
1t Is slowly dawning on the compre-
bension Of mankind that In dismissing
from its service as money OF redemption
the metal which was the hepmeet OF
gold from a period antedating the Chris-
tian era to the nineteenth century. 1t has
shrivelled the values Of land and It's pro-
ducts. paralyzed Industrial enterprises
congested money in a few centres. re-
duced labor to pittance, and thrown
away the schemes OF progress.
DAWNING CONSCIOUSNESS.
That leading Republicans like Francis
A. Walker and Senators Hoar and Lodge,
of Massachusetts,, in this country, ana
leading statesmen and publicists In Great
Britain and Germany. are now turning
their faces favorably 10 bimetaillsm If
n sign of dawning consciousness. lnves-
tors. as Mr.. Lodge pointed out lew
DAYS ago In the Senate. are realizing that
instead OF profitng by the contraction
movement they will in many cases so
shrink values as to get nothing; and the
Democratic party should beware lest II
II acduiesce In the contraction system
it's enemy, the Republicans. come forward
and lead in the restoration of bimetal-
Hsm-the obvious necessity OF the world.
Time will surely vindicate those VINO
stand unfiInchingly by the money of the
Constitution; the money most needed and
most used by the masses: the money that
fourished from the beginning OF civiliza-
ton down to the time when after Water
loo England stretched forth her hand
for commercial supremacy; and after Ap-
pomattox monopolistic powers were or
eanized under the shadow of the sword
have written more than i intended
when 1 began. The speedy passage OF the
tariff bill much 10 be desired will set the
wheels Of business I'm motion. give en-
ployment to many now idle. and quicken
the pulses II trade. But We will never
have the prosperity to which we are en-
titled. nor revive the independence and
vell-being of the masses who till our
fields, until our financial system Is re-
moulded, and our volume OF currency
made 10 respond to our vast and increas'
ing business and population.
Again thanking you for the justice you
have done me, and kind spirit you have
manifested. l remain,
Faithfully yours.
JOHN W. DANIEL.