The times. [volume] (Richmond, Va.) 1890-1903, 1895-08-04

The uevspapcrs have had several REFER
ences Of late TO silver convention that
Hon. Peter J. Otey has declared his pur-
pose to call. Nobody has thought any
thing in particular about such thing
and most people have supposed 1t to be
Joke. or no more than a free silver freak
OF some sort or another that would amuse
Mr.. Otey. and hurt no one else. The
Washington correspondent of the Balu-
more Sun writes his paper. however, that
those behind the move are in dead earn
est, and that the particular object In
view is to draw off from active effort al
PROSECUTING for free silver and convert
their campaign into war upon what they
conceive TO be the weakest points IN
sound money armor This correspondent
saws it is understood at Washington
that though Mr.. Oteys call is for con-
Sss,ion in the Sixth district only. all the
Eve silver men OF Virginia are behind
= and all of them look for great results
Acm this new objective point for their
oar. he says:
The attack upon the soundmoney ad-
vOcates is 10 be based upon the asser-
tions of the sound-mOncy men them
selves. and an effort will be made TO show
that the success Of the sound-money par
" OF the country, whether Democratic or
Republican, viii have the effect OF con-
tracing the currency to such degree
that all forms OF commercial disaster will
inevitably follow. In the first pace, the
silver men will argue that the defini-
ton OF sound money made by the follow
ers OF the administration means gold
coin and national bank notes and I'm sup
port of this the message OF President
Cleveland urging the retirement of the
cial bill prepared by Secretary carlisle,
and the bill which was substituted for
that measure by the Banking and Curren-
cy Committee of the last House are cit
"a as conclusive proof that the President
and the Secretary OF the Treasury are
anxious II st these forms Of money should
be done away with.
Then. following the arguments Of the
opponents OF silver TO what the silver
men term their logical conclusion. the
franers Of this new silver platform de-
clare that II silver dollars are worth but
nifty cents each and yet are circulated
upon a par with gold, they are nothing
more than fiat money. aa1 as the sound
money men are bitterly opposed to all
forms OF fiat money. they must necessari-
ly want the retirement of the silver dol
lars now in circulation. Having settled
this much satisfactorily. II is THEN TO be
shown that the real object OF the sound
money men IL TO contract the currency
by the retirement Of both the greenbacks
and the silver dollars, aggreeating some
thing over eight hundred million dollars.
now In circulation. and throw the whole
power OF expanding or contracting the
currency into the hands Of the holders of
gold and the national banks
Against these alleged objects OF the
sound-money men the virginia silver
leaders Will declare unalterable opposition
and they will he very much mistaken. In
deed. they think. II they do not convince
the people OF the State that sound money
means a complete transfer OF all the lii.
critics OF the people into the keeping OF
the national banks.
Well. the silver cranks may think they
are going to make a variation In the fight
by changes in names. but the issue will
remain just the same, Notwithstanding
all the jugglery in the world. ono side
OF this fight is composed Of people who
found themselves upon the proposition
that there can te but one standard OF
value. They are willing that that stand
ard shall be represented by coins OF two
metals but they intend there shall be
only one standard. and II that is fixed In
tho terms OF one OF the metals. when
coin OF the other is struck. the metal
in II shall be OF exactly the same mar
ket value as the metal in the other coin.
Tho opinion is growing amongst them
that II is not possible in practical life 10
have one standard preserved In metals
freely coined. The opinion is growing that
the varying supply OF the two metals
makes them separate In value 80 rapidly
that. az a practical matter. it is not posi-
BILE 70 have the standard represented by
two different metals. They are willing TO
make the experiment however. by an In
ternational agreement. but they are not
willing to invite the certain disaster that
would attend this government alone un-
aertaking II. The point OF difference is
right there. and Mr.. Otey and his con-
yentIon are not going to change that
point OF difference by any sort OF WORD
jusxlery and new phraseolosy. we IN
tend 70 hsvo one standard Of value only.
ana We intend TO keep that hxed and In
variable az nearly as we can. we 'h'eha
70 allow men to mako a. many contracts
20 nay money ~ they please. but II must