Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-09-27

forms very much the duties Of the United
States Treasury. The Bank of England
has 10 keep in its vaults the Indebtedness
of the government or bullion one fourth
only of which can be in silver 10 an
amount equal TO its issue Of notes. since
the resumption of specie payments In
1923, so scarce has been gold that the
Bank Of England up TO 1866 has had 10
suspend specie payments three uInes-lo
wit, October %, lS47: November L., 1857,
and May H. 1866. On this last occasion
the American Cyclopaedia says: In ITS
efforts 10 save itself ii spread ruin and
desolatiOn around il, and years have been
necessary TO recover from the enects OF
the panic thus created While the
United States have not had to suspend
specie payments, and have escaped the
dire consequences that have befalien Eng
land. by the partial reconciliation ana
coinage OF silver under the Bland-AllsOh
act i'm 1873, the Sherman act and tne Is
suance recently of 1862 00O.G)0 OF bonds,
Is there anything so attractive in the ex-
perienCe Of England in IT'S eHorts 10
maintain the gold standard as 10 induce
MS contrary TO the traditions OF our
country. to the result of our own reason,
and the instincts of the great mass OF our
people to follow blindly In her loot
steps? Let me ask If 1t ever occur
red TO working and salaried people tnat II
the gold standard is permanently nA asa
upon this country that their salaries are
sure to be reduced. and not oniy re-
duced once but continuously ana sue
cessivey. until there Is no telling nov
little YOU NAV be forced to live upon
per month. and besides, did IT ever oc-
cur to them that they are liable 10 lose
their positions? The fact is that IL you
take the country over, Tor every man
that has a job there are AT a iea 4. .bn
men equally as competent TO fill II VINO
are out of a job and would De reauy
and anxious TO take yours ana even
to take it at lower hgure than you
are getting, if necessary. thele are pa
/ utical reasons why the factories anu
other trusts DO not just now lorce uoWi,
salaries, or dismiss their employees am
take others who Will work Tor less. - II
human nature for any man or corporation
10 pay more for services that they can
get other men, equally as competent
/ to perform the same servicesE Let lhe
gold standard once be permanently 1as-
tened on this country, when ine sol9
! men and the corporations feel sate, ana
as sure as fate every man VINO Is now
| i'm their employ will have to accept d
| big cut i'm his wages, or be dismissed 10
! give place to some other man eluaIiy
as competent. who will do the work Tor
/ less. Does not the history OF England,
| and IN fact the whole world. snow, anu
| proye that this has been the case In every
/ country when and where the amount OF
| legal-tender money In circulation was
contracted? 1t is one OF the ineXoraple
! laws of supply and demand which Apply
/ with equal force TO money as 10 every
! thing else. kelnOntllIdNivh VI 81 -
the manifest and proper thing TO do.
/ The Democratic party has always been
| pledged TO bimetallism. God himself gave
| il 10 us for money, and at le to l. II
the Bible. the only book that he ever
sent into this world, and the only one
that He viii send, is 10 be believed;
| Abraham, the Father of the Faithful
1000 years ago bought the cave OF Mach
pelah for 400 sheekels OF silver SZVo).
which at that period were current money
with the merchant" The servant OF
! Abraham made Rebakah a present OF a
| ring of half a sheckefs weight or goid;
! md bracelets for the hands of 10 sheckels
weight of gold" The value OF SILVER Nv 7
! sheckel was 50 cents. and the value OF a
gold sheckei was s. and cents; thus
| You have indisputable evidence that the
relative value OF gold and silver at that
| time was almost exactly as sixteen OF
silver 20 one of gold. II would seem EN-,
| from the circumstance Of the preservation
| OF nearly the same average ratio OF Ia
| or l6 10 l, with only slight variations;
! down TO the present day, that gold ana
| silver were designed by the Creator 70
| constitute the basis of the currency OF the
''e~ JOSEPH II. SHEPHERD.