The times. [volume] (Richmond, Va.) 1890-1903, 1895-09-08
CAN THIS BE TRUE?

The awhile Register says Of the cur
rency resolution adopted by the fi,'syi-
yania Democratic Convention:
"The resolution properly says IN e.
| feet that the money question belongs 70
tho FEDERAL Ie,tslature, but we believe
a majority of the people OF fittsyiYahia
favor FREQ coinage at mtio OF 10 10 l.
THAT Is a simple statement OF 'ac,
We have no doubt every man III flttsyi-
varia- Danyille. and Neapois favors free
colreRc Of oliver at ratio of is TO l.
"sone favor 10 with or without regard
TO international agreement. others Ia
ycr II tnly when II Is assured that the
parity between the gold dollar and the
silver dollar can be maintained
"Our own opinion is that this parity
can be maintained only by an intsrna-
tjonal agreement, and we believe that a
majority of the convention and OF the
people of Pittsylvania are OF the same
oIinin."
Is It possible that every man IN Pitt
sylvania. Danvile. and Noapolis favors
the free coinage of silver ut the ratio
OF l6 to 1? Is there not one man In all
that large body of citizens who really
understands the true law of finance ana
has learned that the value ~ a money
metal (the desire COR II being conceden)
depends upon the labor necessary TO dig
IL out OF the earth. refine it, and shape
It into coins: and that " It takes just one
half the labor 10 produce 4l2 IL grains
OF silver as is required 20 produce % $40
grains Of gold, not all the international
agreements in the world can make the
niece of silver worth more than half the
piece of gold? AS the Register puts the
case, Il conveys the impression that there
is not a single man in Pittsylvania, Dan
willie. and Neapolis. who really under
stands the laws that govern finance ana
the value erd functions Of money, FOR
we assume from its statement of il that
all the men there flavor free coinage OF
silver at a ratio of l6 10 T." because
they believe that tho laws OF finance
make this the thing 20 do.
The Times has no sort of objection TO
the free coinage of silver at the ratio OF
I6 to If all the leading commercial ma
tions would agree 10 1T, but The Times
knows perfectly well that n would be a
most absurd thing for these nations to
agree to il. and that they would very
soon have to wlthHaw their consent to
it, and cease the coinage OF silver. The
Times agrees 10 1t because II knows
that these nations would pay the price
of their folly, and redeem all the debas-
ed silver coins they put out with good
gold coin. The Times would agree to 1t.
therefore, knowing fun well the folly OF
the proceeding. but having the guaran-
tee of the leading commercial nations
that no harm should come of It. But
The Times would not agree to 1t he
cause It was in the slightest degree blind
ed, and had come TO believe that an
agreement OF nations could work an i'm
possibility any more than an act of the
Congress of the United States. The Reg
lister may mean that some of Danville's
citizens agree TO free coinage at il to
under an international agreement for the
same reasons that control The Times.
Whether the Register means this or not,
We ttii'N' tiiiA ~ b' 'i4' 4h'N- 49, 'N''D"
pcrs onally some citizens of Danville, who
arr as clear-headed as any in the state.
and we know very well that these men
ore not in the slightest degree misled by
the talk of an international agreement.
They know the real principles which lie
at the bottom of the functions and value
of a money metal and, while perfectly
willing TO humor the people who TANK
an agreement between nations can 90
what only the Almighty can do, they are
laughing In their sleeves at the folly OF
such people just as much as other wise
men are.
BE the case, however, as it may, the
fact stands out that the people of that
part OF Virginia have abandoned the mad
attempt of the free coiners to commit
tits country TO the Incredible folly OF at
tempting free coinage AT l6 to l by IT.
self. Never mind what reason controls
them so long as this is the fact. They
will have the true reasons that govern
the case after awhile. and with further
reflection. meantime, we can content our
selves with the thought that these votes
will be right when they are cast.