Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-07-22
FRANCE AND AMERICA.

L
I'D certum est quod potest reddi GER
tum." The world will in an instant
recognize the fact that silver bullion OF
established purity will be worth as much
as the coined dollar less the carrying
charges TO the mint. 1t Will restore con-
ndence as TO the basis and ultimate re-
dcmption of money, and If this is true,
what becomes of the idea suggested by
the men who take key-hole view OF
the situation, and who state that the
only benefit we will receive from the
reconciliation of silver will be an annual
addition to the money of the country
OF about 10 cents for each inhabtant! us
absurdity is apparent Ii is difficult to
tell or even to approximate the exact
amount that sl0O.0o0.OO0 year would be
added TO the money of the country is GER
tainly not at an extravagant estimate.
While il is true that checks, drafts. ana
bills of exchange perform over 10 per
cent of the daily business OF the coun-
try. 1t is only because the people have
confidence in their ultimate redemption
in specie or its equivalent. Let the idea
once get abroad that the foundation Is
insecure, and the whole structure fails
to the ground and panic ensues. When
one half of the foundation and basis OF
these notes and drafts WIS cut away by
the decentralization of silver confidence
I'm their ultimate redemption was rudeiy
shocked and hence from that time IN
country has undergone series OF pahics,
and property OF all kinds has fallen ana
decreased immensely in value Where
could there have been a greater oDJect
lesson than the panic of last year, winch
still exists, when a majority OF the lead
ing national banks of the country were
compelled to issue and to use
clearinghouse certificates to an enor
nous extent to save their very
existence? 1t Is undoubtedly true
that these clearinghouse certificates
were nothing in the world but so many
promisory notes added TO the currency
showing the indisputable need OF greater
volume of money. The banks arrogattu
TO themselves this function, when Is de-
MED to the people. am not cehsufihs
them for IL, for under the circumstances
II was Indispensable. but who can justify
a system which required such a feariu
remedy to keep II in existence? Has
France. with its bimetalic standard
ever been forced to take su"r
aesperate action? 1t has not Greai
revolutions move slowly, and this j.
the true reason why the reconciliation
of silver has been so long delayed Many
people are slow To believe that all OF this
| loss in the value of silver bullion has
| is an established fact that Legislator
has caused the loss and legislation alone
| can restore it. As great, as awfui, a.
| terrific as has been the loss occasione1
| ny the decentralization OF silver IT is per
| hans even less than might have Deer
| expected Why its characterization ma
| not led to revolution by the masses o.
| the people IL Is somewhat diihcult u
| conceive, except from the fact tlat W.
| are the most aw-abding and conserVat'N'
| people in the world. 1t Is high tes'i
| monial To the conservatism and the LOT
| bearance of our people that we nave ,iu
| far submitted peaceably TO that atrociou
| and cruel wrong without resort -
| force TO remedy 1t. Logicians say vi
| "argumentum ad hominem ~ the iast !.
| sort Every good man and every pa''io'
| cit,zen will unite with me In the mop
| that the time will never come wheh IN
| advocates of the free coinage OF siiVe
will have TO prosecute their rights D.
| force. When that day comes, ana com
| II will If the present cruel Legislation
kent in force. then farewell TO Repupli
| can institutions In America, Tor we WI
| add but another to the list OF repuoicS
| the inscription upon whose TOMBSTONE
| is ..,They were, but they are not.
The southern portion OF this unio
| IN practically an uht III raw
of the free coinage of silver; SO ar
the States west OF the Mississippi river
and so to-day is the great state OF rem
sylyania. The advocates OF the IRE
coinage of silver constitute the vast ma
iorlty of the people. Therefore. W
should be OF good cheer. for the day
not far distant when 1t will be accom-
plished. and in the glorious tide OF pros
perity II will bring VIII forget the sol
rows OF the past. and long before IN
dawn OF the twentieth century the Unite
states of America will again be the fore
most country in the whole world. To a,
complish the free coinage OF silver
a noble and laudable object. and on
motto ana principle from this time fol
| ward should be prompt and aggressiv
action. BY union and action We ca
achieve success. CAMM PATERSON.
snnndyside Place. Buckingham count!
| Va July IL, 1894