Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-04-28
DANIEL ON SILVER.
An Open Letter TO Mr.. Hardnway,
of HoanOke.

~" "Pth Ltitcr 10 VIZ. H0ruuWay,
of Roanoke.
The Following open letter from Senator
John W. Daniel 10 SIR. w. o. Hardaway,
u Roanoke, in answer TO an invitation
10 the Senator to address the Roanoke
tA'er Democrats explains itself:
Washington, ID. c., April %. 1896.
W. %. Hardaway. Esq. Roanoke. Va:
ply Dear Sir,-Permit me to express my
acknowledgements and thanks for your
esteemed favor inviting me on behalf Of
lNe silver Democrats OF Roanoke to ad-
1Less them on the "a Of May next.
10 these closing days OF Congress, with
appropriation bills pressing for considera-
Ulh' 4 doubt II II will be possible for
"e 10 be with you upon that occasion:
'-' u has long been my conviction that
return 10 the bimetallic system which
20 long prevailed in this country is ne
,essary 10 the~rrosperity OF our people,
.Ad ] would, therefore, be pleased TO
Ailfess the meeting If it were practicable
% 20 so.
il tho negatived prophesles, the &C
.1nllated public debts, the paralyzed in
'1stIles, the revenue deficits, the COM
Aeicial failures, the increased taxes, and
.le railing prices OF land, produce, and
aoor which have followed upon the gold
i'andard plans which the Democracy was
3egdied 10 adopt In company with the
"rpuhAcans. II these experiences OF the
AL three years have not opened the eyes
f." The people to the folly OF closing their
Dihts and destroying their constitutional
money IL would seem vain to Argue the
natter. Some seem 10 imagine that the
question whether or not We shall have
we Tree coinage OF silver as IL existed
'flor 10 1873 comprehends the financial
sues we have 10 deal with. and do not
aink 10 Is generally appreciated that the
silver question is the pivotal point on
"hlch turns the whole scheme Of financial
revision.
Associated with the silver question. and
more or less dependent upon IL. are the
questions Of charging 10 a vast degree our
,Nohc debt, and OF retiring our green
,ace currency and silver certificates. In
leed. our whole currency system IS I'm
.olias!on. and this confusion can only be
corrected by restoring bimetallism OF by
'ssuoying existing circulation.
u Is agreed on all hands that we should
Keep our minis open 20 the free coinage
u GOLD. and that there must be radical
tiofm as TO other elements OF our cur
,eAcy. The necessity for reform arises
-.iA tht iact that we have outstanding
neV"ooO Of geenback paper money. pay
zoe IN coin mot gold only: some Sl33.000.-
.' OF coin certificates issued under the
'oefman act Of 1890 and some $50, 900, 900
p AlYer certificates issued under the
2'and-Allison act OF 1878 In all. a body
y @ez,VDW0 OF paper money-or half OF
~ our existing circulation.
Unless we restore silver az a money
y redemption we must retire this paper
money; and II We retire Il we must issue
oonds 70 buy gold 70 pay II on In. should
we retire H. there will be such a vast
contraction of our present currency that
mere VIII be farther and greater fall
"a prices OF lands and commodities a
paralysis Of trade, and probably another
panic. greater than any we have yet
ften. Agriculturis;s mechanics, mer-
chants, and banks would be involved In
widespread ruin by such further contrac.
Noh Of the currency, and prosperous CON
oillons Indefinitely postponed
IL Is easy TO criticise and object. There
are great impedements and difficulties
be encountered insany and all dlrec-
u'ns; but II must be realized that we