The times. [volume] (Richmond, Va.) 1890-1903, 1894-02-18
MIR BIAND'S VIEW.

Several days back Mr.. Walker. OF
MassachUs etts. discussing Mr. BANDS
bill for adding 100000 deprecated
silver dollars to our currency, quoted
from a speech once made by Bland,
wherein he admitted that silver dollars
might decline to the value of the silver
bullion i'm them This was an admission
very fatal to Mr.. BANDS present con-
tention, and he endeavored to interrupt
| Mr.. Walker TO make an explanation of
it. Walker declined TO be interrupted,
and Bland had TO "bide his time" 1t
came on Thursday, and We quote from
what he BLAND said, from the record
| lie said:
| My position is that the coined dollar
| being money. which is in demand by all
the people Of this country, for which all
| the property of this country and all
the services Of all the people OF this
country are put up in compettion-that
mat dollar which every one wants in
exchange for which every one is willing
| to dispose Of his property and his per-
| sonal services, thus making a unveral
| and active demand for IL. can not suffer
such depreciation. but that this univer-
| sal demand for the standard silver dol
| lar must necessarily keep up its parity
and monetary value"
Now we want to reason little at
this point in all seriousness with the
advocates Of the free coinage OF silver
dollars. the metal in which IS worth
only fifty cents. This is the defence Of
the theory made by the apostle of free
coinage. and 1t is really and in fact the
argument on which free coinage rests.
Mr.. Bland practically admits that IL
free coinage caused the silver dollar
to fall in purchasing power TO the value
OF the metal in it. free coinage would be
mistake and a failure But he thinks
the demand for the silver dollar would |
keep 1t up in value 10 that Of the gold !
doiiar. Let us see about this.
Suppose the government should refuse |
to give gold dollar in exchange |
for silver dollar when the gold was |
asked for, and should also refuse TO re-
ceNe the silver dollar in payment of
dollar assessed for its revenue. Does
any one believe that any one else vould
O.
ceive 1t in payment OF dollar due 10
him If he could do any better?
Every man OF common sense will readl-
ly admit that no one would. and that
the silver dollar would consequently at |
once fall in value below the gold dollar.
that is. gold dollars would disappear
Now the government 1t is true is not
going. voluntarily. 70 assume any such
position. But may she not be forced into
1t?
II coinage were made free. every man
who owes "A thousand dollars could buy
as much silver as thousand silver dol
lars contains for $500 and he could have
this silver coined. without charge. into
one thousand silver dollars. and with
these he could pay his debt OF 81 900
silver dollars or set nothing. Would not
this be done by any man who owes debt?
1t is absurd 10 say 1t would not.
Very well. We have now about SIoO.-
100000 OF these silver dollars, and the
world, IS SO overstocked with a supply
VI SiiNtl utIloli tHdl IL Is tTyluS To us |
pose Of that silver keeps on going down |
in price. day by day. until no one can
see the point at which II will cease fall
ing. The silver mines OF the world. too
continue TO pour out millions upon mill
lions OF ounces and announce themselves
ready 10 pour out as much more as the
world VIII take. Would not those who
now owe money in the United States
continue TO buy silver and have it coined.
until they had paid of all that they owe?
L is absurd TO suppose that they would ,
not. Suppose then that we added to the
silver dollars we now have. one thousand ,
TX hundred millions OF dollars. which is I
! nero bagatelle to what the people OF 1
he United States owe. Does any one be- r
ievs that the government would stun