Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-08-30
Advantages of BimetaIIism.
TO the Editor Of the Dispatch:

TO the Editor OF the Dispatch:
Every fnancier. and almost every. bust
ness-man, knows that no financial sys-
TEN was ever devised that was not
fraught with It's eras Of expansion ana
its eras of liquidation, and often collapse.
The reason is simply because IT IS natu-
ral--as natural as the waves OF the sea,
+, which rise and fall: because there prooa-
by never was time when the values IN
the wcrld did not exceed the money IN
the world; and just so much as the values
exceed the money, just SO much e&pan-
sion and business activity and SO much
good times; and just as little as the
values exceed the money, Just so much
LIQUIDATION, depreciation, and distress has
resulted. OF course. these movements arise
from the natural operations OF the lead
Ing minds OF the financial world. When
they are conndent that conditions are
riLe for expansion. they can generally oo-
tain Il by the power Of their optimistic
expressions and money investments; ana,
per contra, when they think such expan-
eion has run its course. they sell out their
Investments and trim their sails. and
stand from under the storm which they
have themselves started by their own
sales. and probably also by the aid OF
tight-money manipulation. Such financial
storms bring less to all save those who
have prepared themselves. and sometimes
they run into panics or wide effect or
greater or less duration.
There probably Is no absolute preventive
or panlcs. but on gold basis every re-
current period CT LIQUIDATION becomes a
tfess each time. and with deeper and
more potent rumblings OF discomfort from
the people ~ the dire extremity Of the
unemployed laborine classes AS basic
money Chat IL, primary money OF ulti-
mate redempuonD Is necessary TO sus-
tain the structure of values. which is a
fabric Of credits Of many times greater
.voiums than the money itself; lust So
double the basic money, under national
or International ,bimetallism. and You
double tho foundation and strength or
q xrri.t ,t. ..n
.fest. This prevents the increasing strain
upon the one basic money, and puts II
upon two (of alternating and automatic
usefulness), and double in quantity, ana
thus vastly lessons the strain and posi-
,sility OF a panic. and prevents such ex-
IRENE depresslons and depreciations as
We are now experiencing.
The election OF Mckinley would settle
nothing; II would only postpone the ulti-
Inats and logical outcome OF this move
ment OF the people in favor OF the free
moro serious popular political movement
ia this country. It's only logical conclu-
sion IL its ultimate success. SO. why
postpone 10 four years more and add
four more years strain 20 the bitter con-
test, with It's commercial uncertainties
and poyp.exities and losses. While we
are Ia the depths Of liquidation. and nigh
financial despair now, It win prove good
tone "a embrace the change without any
further or serious disarrangement. The
worst evils are anticipatiye. The actual
srefurn TO the FREQ coinage OF silver at the
sf&Iio Of IL TO would establish an approx
mate OF actual parity beSTeen the two
'1nsts~s at that ratio. The government
HOrld no doubt suspend KOid payments
wbica would put ZONE premium upon soiu,
but az the sold would be out Of circula-
s}ion then, as a. Is now, you would not
hear much about H. and We would proDa-
bly, have silver monometalligm instead OF
god fnonometalism. Silver fnonometal-
hsm ~ great boon 10 Mexico and surely,
~ the weak republic on our southern
border can make use OF II 10 their ad-
vantage. the greatest republic in the
world may GO certainly as well and very
much better. Under silver monometai-
tsi.n, before attaining a foreign following
fqAz1 10 International bimetailism, and
With a probable premium on gold, being
great export country. we would receive
tie gold premium on our exports thus