Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-01-08

the character. quality, ana quantity Vi
the money they use. Money Is the great
instrument OF association among men,
and so essential to civilization Is 1t that 1t
may be said TO rest upon money.
IL the present
MONEY SUPPLY
OF the world were TO be destroyed chaos
would come. We now witness throughout
the world the deplorable results which
have followed the attempt to strike down
silver and make gold the sole standard
Of payment. Already the purchasing
power Of money has doubled, and the end
is not yet. for the rise OF gold Is the
decline Of prices. and gold Is still rising,
and the prices OF all property
STILL TEND DOWNWARD
perfectly natural result Of the in
creased demand for gold. We say all pro-
perty. but mean the general average, for
some forms OF property are adventitiously
held up by a greater demand or short
supply.
Few men are now so bold as to MAIN
tain the Old argument that gold possesses
n fixed value in the face OF facts so over
whelmlngly proving that gold is subject
t. the law OF supply and demand as
truly as merchandise.
This one fact, that the standard OF
payment is
AN APPROACHING ONE.
and, therefore. unjust. should touch the
cOnsciences OF men to move for relief
before II IL too late.
The pretence that gold alone ia honest
money has too long been used TO deceive
people. and It's falsity should be exposed
That is
HONEST MONEY.
which best preserves the equities between
debtor and creditor during the life or
the time contracts, upon which in modern
DAYS so much depends. When We consider
the enormous volume Of wealth repre-
scented i'm such contracts, national, NUM-
cipal, corporate. and personal bonds, we
best realizes the burden imposed unjustly
upon debtors and taxpayers by legislating
a change In the standard 50 that 1t shall
appreciate.
The apparent benehciaries are those
with fixed incomes. but In the end II VIII
be found to be grave mistake, for no
class can permanently prosper while the
great mass OF the people are being I'M
poverished
IL Is surprising that in the conflict OF
opinion now rampant. as to the proper
remedy for the ills existing. which are
everywhere admitted 10 demand atten-
ton, that
so MANY FALSE IDEAS
as to the cause and the remedy should
pass current when a little reflection would
expose their fallacy.
The cause OF the continuous decline
of prices is still by many attributed to
oyer-production.
PRODUCTION
is wealth creation. wealth being the ac-
cumuated product OF labor. 1t amounts
TO this: People are being reduced to pow
erty because there is too much wealth
produced. Chin3man can see the alb
surdity. proclaimed bv American states
men. Too much cotton? Why nakedness?
Too much wheat: why. empty stomachs
and even starvation?
Some Of the learned pundits declare
there IL
TOO MUCH MONEY.
and offer in proof the fact that vast hords
lie unemployed, while property Is being
sacrificed all over the Union in the vain
attempt to get II. Others always defend
ing gold as honest money and opposing
the restoration of silver because II will
initiate the currency deprive gold OF
part Of its abnormal value now crowd
piNh' ANA
a FAULTLESS CONTRACTION
Of legal-tender money by funding our
greenbacks. and an unlimited imitation Of
PRIVATE BANK PAPER.
Now, IL wealth-creation is a cause OF
poverty, and If natures limitation of the
supply OF the precious metals, upon
which the universal adoption and ac-
ceptance Of gold and silver by mankind
IN all ages. has been based, cannot now
be relied upon. then all past wisdom goes
for naught, and the teachings OF the past
are but vanity. The whole theory upon
which metallic money rests must fall.
Accepting the theories Of these new
lights, where does the power rest to
SUBSTITUTE A NEW SYSTEM?
II cannot be denied that il Congress In
1873 possessed the power to demonetize sill
yer, that another Congress may demone-
tie gold.
Then Where are We at?'
Are the people willing to have the
power of regulating the volume OF their
money vested in
PRIVATE CORPORATIONS,
under public charter?
Upon the volume depends all value OF
money. BY contraction and expansion
they could control the wealth OF the
world and control its producers-the peo-
pie. When the people consent to that their
liberties are gone.
People are being misled by the high
sounding phrases used regarding "a
flexible currency"-an
ELASTIC CURRENCY"
As we'll might they consent to elastic
yard-sticks and surveyors chains, as OF
an elastic measure OF values. Or, OF
elastic "chips that pass in the night"
among those who use such tokens OF
value.
Money-the debt-payer-should, as
nearly as law may provide. prove stable
In value, to maintain the rights OF all
who use II.
That
STABILITY, so ESSENTIAL, TO JUS
TICE,
cannot be maintained by any monkeying
OF spectators In contracting and ex-
panding its volume. Theories are ad-
vanced that It would be well to have a
local currency not good enough to be
drawn away from home.
Such are not we'll founded.
Good money that will pass where the
flag floats. can be kept In the pockets OF
the people or In local repositories when
ever this blighting. paralyzing worship OF
gold is checked, and the spoliatlon of the
paopIa sfonned and normal pricea he re-