The times. [volume] (Richmond, Va.) 1890-1903, 1896-01-29
A SUBSCRIBER OPPOSES OUR PLAT
FORM.

4 subscriber TO The Times. in the Val
ley Of Virginia. I'm declining to renew his
subscription. writes us thus: I'VE have
very little sympathy with. or use for,
gold papers here. The industrial classes
of this country are being made paupers
by the selfshness of this policy. You
could hardly expect us TO subscribe to-
wards our own funeral"
We can say. in all candor that We have
a sincere sympathy for this gentleman
and that very large contingent that en-
tertains opinions similar to his. one
phase OF his notions, which VIC find in
the utterances of all OF them is included
in his use of the word "selhshness. "
These people discuss finances as though
business transactions were merely chart
table acts. arising from kindness Of
heart. But that would put business,
which is the very sternest of realities.
on a false basis A hard-headed old
business man once said to as. when We
may have been suggesting something Of
this sort I'm a transaction: "Sir, do you
not know that there are no gifts in bust
ncss?" And this is the case. In bust
ness every man is trading to make tho
best bargain for himself that ne can.
Business is largely seishness, and the
merchant or trader that conducts his bust
ness as a philanthropist-as that word is
ordinarily undorstood-will soon go to
the wall. This is in no wise incompati-
BILE with the most charitable and the
most merciful heart. When charity or
mercy are the matters that are i'm hand.
the closest trader may be the most chart
table Of all But when business is TO
be attended to, he recognizes that the
transaction is a contest for self-preserva-
ton, and that he must exercise every
energy and power that he can control 10
make the best possible bargain for him
self
Let us for a moment compare the sta
tus that The Times would like to see pre-
yailing in our finances with that which
our correspondent Graves. The advo-
Gates Of the gold standard are no more
selfish than the advocates of free silver.
Both do so because they think it to their
interest 70 do So The "gold-bug' thinks
he understands the subject somewhat bet
ter than the Gree coiner." and also he
lieves that his plan would not only not
iniure the industrial classes. but very
greatly benefit them. IN fact, he knows,
as far as we can know anything. that the
free coiner' has been d deadly Zoe (un-
consciously, no doubt TO the industrial
classes--has stopped his work. and cut
on his wages entirely
Tho great dolusion which our CORE
spondent. and many like him, labor UNI
der is that the quantity and not the
quality OF money is essential TO our pros
perity.
The Times insists that business does
not consist in purchases and sales of
in which money or cur
rency is delivered for the goods, bat that
all business IS at bottom an exchange of |
the surplus commodities that one COM
munity has for the surplus commodities |
that another community has. which ex-
changes are effected by transfers Of |
credits ON the books OF banks and mer- |
chants, and these credits are stated in
the word dollars" Now. in order 10
make these credits perform their func-
iion in these transfers. the word dollar
must have a fixed and unvarying mean
ng. The man who assigns the credit
must know exactly what ne IL parting
with, and the man receiving IL must
know exactly what he is receiving. For
hat reason, The Times says there can
% but one dollar Ii may be either a
liver dollar or a gold dollar. but IL must
,e one or the other. For a long time
hese two metals came out OF the ground
q quantities that made sixteen ounces