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

REASONABLY iilSe bHH'hN-''
compelled to store away tnis ."o'H'ou'
pile.
with no gold. little paper money ana us
vaults filled with silver, suppose cHecN
IL presented Mt n bank BY farmer. cat
tie dealer. or trader for 500, he must take
payment IN silver weighing about thlity
pounds. Well would he understand tne
term "suvered" used IN commercial CIR
cles when required TO pack his silver DOL
lars away In a pair OF saddle pockets
to his home, or on pufchasihs
or trading trip, and bother ms
brain how 70 take care or
and save II from thieves ana robperH
I imagine he would wish TO return
speedily 10 the old system, when he could
draw paper money or two pounds or goid
instead Of thirty pounds OF silver on MS
800 check. How long would man enjoy
carrying $40 in silver. Weighing SIX
pounds. In his pocket?
One thing more. The Indebtedness OF
the United States is large. the annual
interest upon her bonds heavy. she Is
pledged 10 pay in sound money. she can
only raise money by customs duties and
internal revenue taxes, principally by
the former. With elyer-monometalllsn,
all her revenues would be PAD IN SILVER,
the cheaper money. How couii she set
sound money with which 90 keep faith
with her creditors? By going % gold
standard countries and purchasing gold.
with silver II she could. ct premium
OF lO0 per cant q for ~ or more. she
would be placed in tho humlllating posi-
ton Of begging for the money or other
countries ~ pay her Obligations ~ nome
even. as well IS abroad.
Asain our exporters would have TO pay
their duties IN sold and pay the premium
10 get it, while foreign exporters wouid
nav their duties to Us in deprecated Sill
yer money. We would pay gold-sound
money-to foreign governments; foreign
ers would pay sllyer-cheap mohey-'o
cur government
ONE THING WE CANNOT DO.
These are my views. stated briefly anc
cOnclsely as possible.
For the reasons given I am opposed
70 the doctrine OF free and unlimited Sill
ver coinage without international agree
ment with the principal commercial corn-
tries Of the world. We cannot
adopt q monetary system different from
these great natiOnelities and force them
10 recognize H. We cannot Heat %
cent silver dollar az a sound dollar IN
this country, much less in tho markets
o. q rmany France. Austria, or Eng
land, with whom our Interests are closely
Identified. There are many things we
can 90 regardless OF the opinions or
wishes Of other lands. We can amend
or change our system Of government,
manag. our internal affairs. and enact
laws to govern our own people, without
let or h!nirancs from any foreign
source: but there IS one thing We cannot
| do. We cannot rOerce other peoples ana
! lands 70 recognize any money We may
see proper 10 eleraye or coin as me-l-
UNI Of exchange between tAem ana
Us. a. well mient we attempt % change
/ the laws u gr4yi.atlcE or make water
run Up hill.
arn fer sound dollar. and what l
mean By c0und dollar IS one that VIII
pass for l0o cents ard be 90 good az any
| other collar anywhere WITHIN the NM -
of the civilized world. Cold j. TIA. col
nov. silver may also be. II Kept on d
/ parity with gold But this can only o.
done by international agreement what
| I mean " sound dollar IS one taai
tho farmer, the mechanic, and the laDJI-
| lng-man can use with q purchasing
power Of 10 cents. and buy a much
with Il as any other dollar. What
| mean by q sound dollar IS one that Us
holder may lay away 20 buy q home. save
for rainy day or provide for himself NJ
I oi. axe with absolute cer'Iin'y tnat IL
/ will be Is g0C4 MS any ctne1 dollar when
he wants % use 70. Coli i that dollar
| silver cannot Dr.. unless ly international
| agreement it "a made equivalent ~ q
/ gold dollar
I am for L sound dollar f1r the poor
man as well as for the rich r -. shall
never consent T. q monetary system
which Will place It ia the power 90 the
rich mn . a.arl his gold and Pay h.i
/ poor CT lifor IN O. -rFr@l.a tea tll4r
Now, IN conclusion. Il may - said that
my views have UNDERGONE cnarss. TO
the superficial observer and reader III.
may appear 20 - the case. BIZ, in i4lt
my position while 81 CJlEr1s Wa, ca.
Of doubt as to the policy OF indepenf ~
free coinage and IL WAS 50 regarded.
never ATTENDED, ard was never invited
10 attend f. free-Co.nage or antl-f.ee-
coinage conference.
During my congressional service I was
on important committees. whore NY du-
ties were onerous and ergr1ss!ns, an
not connected win the currency CUES
ton. ana / had vecy Ht'le time 70 ma
turely consider the silver problem. Lately
| have given tho subject az careful study
as possible. reading tho arguments and
literature on both sides with an earnest
desire 10 reach a correct conclusion. aud
the opinions l now express ara the result
OF deliberate examination.
II. however. had been a warm arL
ayowed independent free c0.ncse aivo'
cate. / should not hesitate TO give utter
ancs 10 ny present Views. / trust thai
the day will never come when | will be
found adhe.ins % any position which
believe e he erroneous, FOR the sake
or consistency, or continuing I'm a course
which ] am convinced IL wrong because
too cOwardly 70 face the charge Of in
consistency. IAN obstinate consistency
Is the hobgoblin OF little minds adore
by lite Statesmen and philosophers ans
civines"
Consistency would have kept Paul In
the role OF a d!sbclever. Consistency
would have kept Washington loyal - The
King. Consistency would have kept the
hundreds Of thousands IN X puD.icans
ranks who have come over q Democracy
and brought victory for tar!f-ref0rm
local seif-goyernment, and Democratic
princIp!es.
No. II | had been ever 20 strong = sup
porter OF independent free coinage.
would now. after being satisfied, BY care
ful and dillgent study. that | was On
tie wrong track. admit my error dor II
Is human 20 err. AMI retrace my steps
and seek TO undo any injury l may have
done In misleading the people.
VIII the Independent free-siiyer move
ment succeed? / am not prophet, bst
predict that It viii meet the fate o
Greenoackism, which e rev years since
was for a time apparently 50 Formidable
1t has reached its ho0d-tlde. ana Is fae
receding. Th- masses are think.ng-th!nk
ing for themselves. The returning tid'
OF prCsreritv the a1vnnceulent OF price.