Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-08-25
SUNDAY. .......~AUGUST %. 1925.
Gov. O'Fcrrnu on the silver Question

GCH. OF Crruit on the SiiNfr Nu'>'iou
We publish this morning an open letter
from Governor O'FcrIan giving in con
else, weil-reasored. ana able argument.
his views on the silver question. 1t Will
be popular document. We have seen
nothing better calculated 10 attract the
attention Of the masses. and convince
them that there can he 10 free-si!yer
coinage in this country at the ratio Of
Is TO that Is, withou. the cooperation
OF other nations. il anybody says that
Governor OFerrau's views have under
gone a change, he replies that whatever
may have been his views heretofore.
bis present views are the result Of much
study ana reading. and are his ma
ture convictions. lie makes no apology
for announcing that l. IS wiser than he
Used 10 be.
We say we hardly know what 70 say
Of Governor OFerralrs letter He has
packed Il ton Of interesting reading
matter lie has discussed Conyiucinsly
the great points Involved in the s-Ver
question. We again aGyl-e everybody 10
read It. II the matter is not new, It Is
presented IN q new. and often in bet
ter manner Here IS what We VIII style
tie Governors text lie says;
Il am opposed 10 the free coinage Il ST.
yer IN the United states, except through
an international aeie ment with the great
commercial countries Of the world.
Il do not believe This country alone can
maintain a plUty between god and ST.
Yer al any fixed ratio.
W are strong Ter0vrrpg and "a, a
the elements that g Il make nation
powerful, but We ere not strong enough
10 live within ourselves. trade only with
ourselves. raise ana manufacture all We
need, consume and use an we produce
and make. import nothing. export no
thing, and lsve no commercial rela-
tions with other countries"
We might say that this is the sub
Stance OF the whole letter. expressed in
language which nobody can pronounce 10
be Of doubtful or ambiguous meaning.
The facts and figures which he arrays
b support of these propositions are such
Is cannot but command the attention Of
The people OF Virginia, If not OF tie
United States.
Governor C'Forrall recalls the ex7e-
rence Of the southern people during the
war between tie States as a warning.
We copy the following paragraphs as
specimens CT the Governors letter:
There is no country that has a double
monetary standard. Wherever there is
free-slyer coinage. silver m0nOmetal!sln
prevails. AZ countries with gold stand
ard utilize silver as far as II can be kept
at Il parity with gold. That Is. gold oouI.-
tries use both metals as money; silver
countries only silver The independent
free coinage Of silver In the United States
would pace her On silver standard and
Ia direct antagoniem to the standard of
tie countries with which she does nearly
Ill her business
The entire continent Of Europe, Canada,
Brazil, Chile, and Australia are on tho
toid basis. These countries. with the
United states. furnish, as | have said,
virtually all the international commerce
of the world-G IL per cent. or seven
s!ghths. Mexico, Central America, most
o. the South American States, India. Cey-
Ion, japan. and the Straits settlements
are on d silver basis. and sspply IL
Der cent. or one eighth Of the interna-
t!Onal commerce.
VIII the United States lower her crest,
withdraw from the strong sisterhOod Of
nations. which whit.n the seas with the
Rails ef commerce. and unite her none
tarJ fortunes VITA the weak combination
whose craft are scarcely ever seen
bne whose products and fruits constitute
80 small a percentage in the grand total?
WEI she continue TO stand with Ger
many. Austria, France, and England. or
Ink her destiny with China, Japan, and
Mexico?
Our first quotation from the Govern
or's letter shows that he believes that
with international free coinage Of silver
It may lie coined at ratio Of Ii 10 l.
teee above.
The word free in the phrase free
coinage" Governor OFerrall treats as
follows:
Now. there has been so much sophistry
In the discussion Of the silver question, |
think It would be well 10 state In a few
PLAIN words just what the term implies
Free coinage means that a silver-mlne-
owner may take al his uncolned silver.
which is called silver bullion. TO a mint
OF the United States and have Il made
or coined into silver dollars. each. at the
ratio Ot &c 10 /, containing 81 Ii grains
Of pure silver. troy weight.
Whose money is IL when Il Is coined?
Does II belong TO the people or govern
mentf No, IL is the money OF the silver
mine-owner. How does IL get into cir
culation? BY the silver-mine-owncr pay
ms 1, out. To whom does he pay Il?
TO those only who have something to give
HIN In exchange for IT, He does not
put II IN circulation for nothing. nor
Hiye IL free 10 those who are needy. in
oebt, or out OF employment.
But as we have said. you must read
Governor O'Ferrall's letter for yourselves.