Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-08-25

courss. exceptions. but as RUE 'ep'o'
q, crcd,,or and vie, versa. l suppose
what Is meant by tho DEBTOR ciHsS -
that class y ho owe more than they nave
coming 10 them. ..o.
Tho moment Il becomes apparent 'He'
this country intends 10 embark upon
monetary scheme in orvosition 10 w,
prevailing system in the great eoNi,''ei .'.,'
countries Of the world. 70 act incep'hu-
or,Iv ~ ,rer,. establish O standard WIN
ont international agreement win 'hc
movers with which our immense CONNER.
cial interests lie. mortgages VIII not wsl.
until the free COINAGE act IL passeI' pu'
with the utmost celebrity. IN every IN
stance where II Is possible. they WIZ ue-
maud their money. and IL not paul. ioi'
close their mortgages They WOMB eNt.n
no favor. show no leniency. but gather
in their money IA sound dollars ny saiS'
or acquire the mOrtgaged properly ''.e'n-
selves and hold it or sell IL Whrn INT,
could find purchasers al tho alVanc'u
pri>, Il would bring IN deprecated sinei
currency. In my opinion no ,ho'r
trassing calamity could befall the debior
ciass than independent freo-silver coinage
MANY q debtor IS now struggling 70 pay
interest and reduce the principal or MS
debt and many n creditor - indHlsHs
bis debtor. but the moment the Vision oi
inIepcndent free-coinage looms up an ~
dulgsnce will cease and fierce VIII pe 'le
demand for ravmont IN sound money. cou-
MED with The threat 81 foreclosure IN case
OF default This would tie human nature
Every man wants good money "hen col
lectlny n scuud-mo9ey ob.i8auoh' a'i ~
nrotects himself naturally IS far as ne
can against being compelled - take cheap
money or deprecated currency.
WHAT DOES IT MEANT
what does free coinage mean? WIN
tho unrefeciing the term has an at'rac-
tive sound: ii is enticing. They have a
vague impr ssion that il implies an easier
way Of getting m3ncy-that Tho more
money there IS the frcor IL VIII he 70
all peorle. heard Of n Populis; In my
canvass in 1873 who was 50 impressed
with this idea anI the so pr capita
plank IN the Populist platform that he
actually rode 20 the county seat on hiS
county one day - inquire why It was
that he had not received his 80 81 the
money which was 70 be distributed Tree
20 the people When assured thlt ne
was lab0rlng under n mistake be return
ed home disappointed AMI utterly
Disguised with all parties. and declared
n would never cast another vote Nh-th-
er he kept his word DO not know.
Now. there has teen 20 much sophistry
In the discussion og the silver question. l
think ~ would be we'll 20 state In few
plain words Just what tie term implies.
Free coinage means that silver-Uine-
owner may take oil his uncoinef silver
which f. cal, ! silver bullion. 10 a mint
OF III. United Sta-os and have II MADE
or coined into silver dollars. each. az the
ratio Of IS 20 /. containing 81 Ia grains
Of pure silver. troy we'glt.
Whose money Is II whom II Is coined :
Does II belong 10 the people or govern
ment? No' it is the money of the silver
mine-owncr How does j. get into cir
culation? By the silver-mine-owre ray.
ing f. out. To whom does h. pay ~
TO those only who have something % give
him IN exchange FOR =. He doeg mt
rut Il IN circulation for nothing. not
give II free 70 those who are needy. In
debt. or out q employment Does II
lot follow, then. thgt the siivlT-inine
owners ana stockholders would be th'
yreat bena1ciaries IN the event Of FREE
coinage. AID that. free coinage wlthou
international arr ~ ~ would ny hay
TIE IL CT Of enrichilg ,ast class by driy. 2
out u circulation all the gold ana issuln,
70 them a. many s!ivor dollars IS theii
bullion would make. though each siive
dollar piece would only BE- worth ~ cents
IN GOLD? Would not The government hav
as much richt 20 stamp m eiEht-0unce
weight q pound 20 . stamp q J-cen
s.lver-r!ece q Coliar2 Where g tie dif
ference IN principle?
Free c0inage. Cf course. means M
limit ! coinage. 50 that under Il IL,
number Of silver dollars would coEtirg.
70 increase from time % TN. and only
b. limited by the capacity Of the mines
not only u this but Of every other cJun
try, 70 furnish silver bullion, ard. q,
the volume az silver money would Grow
the value Of silver would fan. and ~
purchasing power Of a silver dollar de-
crease. until. finally. there would b
such n REDUNDANT currency, Ike C0nfede
rate money. that silver would be almos
worthless here. and, of course absolutely
so abroad.
II may be VOL 20 state that IN IS
only 81 90 Of silver was produced ii
the United States; IN $50 the pr0duc
| ton had increased r. 100000: n lSS
/ 10 S38 co. and In is92 70 ss2.loi no Bu
| there has en- no corresponding increas
/ Of gold. but a decrease. the figures bein.
| $1,000 go in 1850: $-0co0 - IN 1870: se8.
/ 10000 IN 1851. anl s39V000o in 1892.
Much has been fail in denunciation o
| the banks. II is \ fayorite cry Of tn
! dcmagog5e that the banks are dens 0
| Shvlocl.s.
There is not Gre of these temngogue
who would not, 81 he could, hold stock fl
bank and there IS no locality w'thou
bank that would not Ike 10 have one
Banking institutions are the handma'd
! Of a country's progress. WrhOut them thi
country would relapse into its pr.miiiv
state They build NJ community. fos
ter enterprise help the weak. and sustain
the deserving. During the late francia
! panic the banks os Virginia saved IN
| Industries OF the State from ruin. an
tens Of thousands OF businessmen fror
! failure: they Kept the fires Of the fur
naces burning. "a, mouths of the mine
| open. and the wheels Of the factories pun
ming. thereby giving employ,nen, TO
! multitude Of labOring-men, whereby the
were enabled TO earn a support for the
| families. With every opportunity % OF
| press and pile Up richea the banks r.
sisted the temptation 70 make money n
| the expznse q the peoples woes. an
not IN a single instance, SO far as / hay
heard. al they use their power wrong
fully or oprreesively. ! have never own
share OF hank-stock I'm my life. an
have no interest directly or indrec,l
in any bank. and I can. therefore. rxpres
| mYff II rom "a dlsintefcSfei standpOiu
And what I say is in yn1ication OF III
| banks. against the cOmmunistic en-
pOrulis'ic charges that are runz In ever
political campaign. and to lead up I
what VIII now follow.
BANKS AND SILVER.
A popular argument IN favor OF FRI
coinage Of silver. nolers volens. Is III
statement that the banks are opposed I
1.-THE banks ara against the people
therefore they oppose H.; free cOinag
must be what this people ought 10 hay
because the banks do not favor n. Il