Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-05-07
Er. 5. WellfoFd Cofbin on the
Chicago Letter.
GLOOMY FORECAST.
what the Crusade Against the
White Metal IL Doing-A Menace
10 the Perpctuity of Free Insti-
tutions-rIgures.


an urgent appeal from such high
source? supplemented. as this letter has
been. by more recent publication OF the
financial dctum OF the Secretary OF
Agriculture God save the mark. which
is of course. but the echo of the policy
determined upon by the Executive OF
this administration-what but pure and
unadulterated monometallism!-a man
date that gold, ana only gold, shall be
recognized and legalized as the redeemer
Of all and every circulating medium.
Without going into the figures. a pre-
sentation of which would exhibit at
once the palpable absurdity OF the pro-
position, we Will only state the fact,
conceded by all fnancers. that there Is
not gold enough In the world upon which
tas basis of security or redemption) TO
carry on the business of the world.
The needs and necessities incident 10
The conduct Of business have, from the
time OF Abraham until now. demanded,
ana Will continue to demand, as long as
civilization exists, the use of silver as
wen as gold to redeem the token and
nat currency used to facilitate the ex-
change OF values.
The enormous increase In the purchas-
lnB-power of gold, the shrinkage in value
Of all other commodities, the pa
raiysis OF business. the distress in
the land, and the poverty and disease
incident thereto. the creation OF the
classes Of tramps. and mllionalres. are all
evils, legitimate sequences resulting from
the demOnetization of silver.
MENACING FREE INSTITUTIONS.
This state of affairs. rapidly growing
worse every day, is becoming n menace
10 the perpetuity of free institutions.
and will not and cannot be remedied
until the crime of 1873 is expunged from
the statute book and silver reinstated
as money of redemption.
Cut away half of your foundation, and
the structure. whatever IL may be, Will
be likely 10 collapse.
Carefully study and analyze the two
great financial policies Let US look first
AT that of the Republican party They
purchased silver. boarding It as COM
modify. Instead Of coming 1t and placing
II In circulation as redeemer they is
sued in payment therefor notes payable
in gold!
Now note the policy of the so-called
Democratic administration. 1t has bar
tered the credit of this great nation TO
the money changers of the world-seiling
out the rights of the new-weath pro-
mortgaging all products of labor for the
temporary permission to increase a gold
reserve which fuctuates between fifty
and ninety millions Of dolars-held to
redeem paper Obligations of the COVER
ment exceeding six hundred millions Of
dollarsi.
Such utter imbeclity. inefficiency, and
lack of administrative ability can fruc-
tify only in bankruptcy and ruin. If II has
not already accomplished this dire result
SUBSERNIENT TO MONEY KINGS
The credit Of this great nation is held
subservient to the will, control, and greed
Of the money kings of the world who,
within twenty-fOur hours of their deter
mination so to do, can wipe out the last
dollar of gold reserve held by this govern
ment. and. although Mr.. Cleveland may
again sell per cent. United States bonds
al 104, to be resold the next day al 49,
that the little game of sound-money-
humhug may be kept up-whom does
it benefit? Aye whom? The national
credit?
The bonded indebtedness OF the United
States has been increased as a result Of
the game $le5,0100O0. and is their credit,
or their resources any greater now than
when the game commenced?
The little game of buying a bond to-
udy loI lVf anu StlililS tO-NOl1bW lOT
100, with a bargain that at the option of
the purchaser the gold paid for the
bond is to be returned TO him by the
seller of his promissory note, does not
appear to have left much redemption
money in the hands of the seller Of the
bond. But, it is sound. Aye! Sound
money business.
An unprejudiced and intelligent in
vestigation Of this crusade against sill
yer. as redeemer money, can arrive at
but one conclusion. The thing is done to
benefit the few at the expense of the
many.
Distress and disaster prevail now-con-
tinue the present policy and in the near
future anarchy and military despotism
will confront us.
The resources of the Federal Govern
ment were taxed last year to suppress
disorder United States troops were en-
ployed in eight Of the States TO protect
property and enforce the law. the civil
and military power of these States be-
ing unable to accomplish the end.
Was there ever a more striking ano-
maly than that presented in the
United States, when we see every
energy Of the administration exerted.
together with the personal appeal of
the Executive. echoed by the yelping
cry of the beneiciaries of his patronage
(his creatures. who must, therefore, DO
their masters bidding), supported by an
interested and expectant press. and sup
plemented and backed by an Intelligent,
but selfish, class-the most powerful OF
resource OF any in the landau crying,
day and night. in season and out OF sea-
son. for the degradation of silver as a
redeemer Cruelty! cruelty! 5O-cent dol
lar,. Who has ever seen 5O-cent sill
yer dollar?
CANNOT SHAKE THEIR FAITH.
One would imagine that with all this
outcry the people, the workers, would
long since have refused to recognize sill
yer as money. They submit to the ills
incident to. and resulting from. the
wicked conspiracy. but you cannot shake
their belief i'm the necessity for sill, r
as well as gold as redeemer money.
The day approaches when they will
demand that the dollar unit shall again
be 81 Ia grains of silver and they will
no longer submit 10 the Ubiquitous op-
preston that demands $3.50 for a debt
Of 500.
Where is the Justice or equity OF pay
ing 10000 bushels of wheat Uhe present
cost Of the salary OF the President or
the United States to liquidate bargain
for $1,000 bushels.
How different the condition Of affairs
would now be In this country IL silver
had never been demonetized.
Under existing laws. how much the
conditions that now obtain could have
been ameliorated II Mr. Cleveland had
said, PAY my salary In silver; pay
every employee Of the government in
SILVER; pay all pensions in silver: and
had at the same time recommended that
all import duties should be paid in
gold.
But this game would have been In
the interest of the people. The one
pursued was for a class. The reward
OF the first would have been the con-
sciousness of duty well performed and
the happiness and prosperity Of So pei
cent. of the people.
The reward of the other-"sound
money'-gold money-in whose pocket?
quote for your consideration the follow
ing facts, taken from Coins Financia
School," little book sold by all news
dealers. one which l hope every farmer
mechanic, manufacturer, and laborei
will read and study before the next Fede
raj election:
THE FIGURES.
I'm 1915 there were 81 tons Of silver tc
ton OF gold In the world. In 1872 /.