Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-11-21

Tho speech Of Mr.. Carlisle In New
York. on the 18th instant. before tnc
chamber of Commerce. was not equal.
either I'm length or ability. 10 several OF
those which ne recently made In Ken
lucky. These latter were carefully pre-
cared. with a view To putting down the
frec-silver faction. The New York speech
seems not 70 have been intended as iull
discussion on any question touched upon.
Mr. Carlisle devoted a good deal of
MS speech TO a subject which is always
interesting TO the hnanciers Of New
York-the question Of retiring the legal
.cnder notes. etc We quote him:
The fundamental vice in our currency
system is the legal-tender note redeem
able in coin by the government ana re
issuatle under the law. This threatens
The stability of the whole volume of our
currency. and has caused immense losses
by fluctuations. OF which il is Impossible
10 keen the public aware. II was never
contemplated that the government should
convert itself into bank of issue. The
Treasury Department is simply pubic
agency for the management OF the hscal
affairs of the government. The circula-
ton Of legal-tender United Stdtes notes
and Treasury notes has tend
oncy TO drive out Of use ana
out Of the country the very coin III when
the government is compelled to redeem
ahem: and il has expelled millions OF DOL
lars from our borders
Mr. Carlisle named number OF tnan-
claI heresies-as follows.
The theories that the government can
create money by placing its stamp upon
paper; that a Legislative enactment can
make 30 cents equal 40 100 cents, that
artificially-nfated prices. paid in depre-
ciated currency, are better for the people
than natural prices paid in . sound cur
rcncy and various other Vagaries. are all
directly attributable TO the long-cOn'inu-
ed usc OF lcgal-tender paper The propo-
position hat promise of the government
10 pay money Is money y just as absurd
as the proposition that promise 10 de-
liver a horse IS a horse.
We don't think that the Virginia Demo-
Gratis entertain any such thcores-that is,
rs they are stated by Mr.. Carlisle.
Mr.. Carlisle touches on free coinage
a. he passes along. He thinks that the
abandonment or suspension of the az
rressive movement against this financial
heresy" would be more than unwise at
this time. This ~ equlNaichi 10 "a Nt-
claration that President Cleveland ana
all his Cabinet and appointces OF every
grade will stand by what they call sound
money ana oppose the free coinage OF sill
yer. We quote Mr.. Carlisle again:
The free coinage OF legal-tcnder silver
at the ratio OF 10 TO ]. or at any other
ratio not corresponding with the com
mcrCial value of the Two metals. would
be "A forced loan from the people to the
owners OF silVer-mines and silNer-bul-
lion. without promise of payment by
anybody. one loan Was forced FOR the
benefit OF the government In time of war
but the proposition of the advocates OF
free coinage IL 10 force another loan Tor
the benefit of private individuals and cor
pOrations in time OF profound peace.
in principle, tie two measures are pre-
cisely alike The free coinage of legal
tender silver would be far more unjust
than the issue OF legai-tender United
States notes.
We fully concur with MI Carbide IN
declaring in favor OF unequiVocal de-
claratlons on the silver question in a."
national platforms OF both parties next
year The farce of "straddling' ogstt =
come 10 All end.