The times. [volume] (Richmond, Va.) 1890-1903, 1896-08-20
THE NEW YORK JOURNAL AS A FL
NANCIAL GUIDE.

There IS a very foolish free-silver paper
published in New York city called the
Journal It's owner is Mr. Hearst. son
Of the former United States senator OF
that name. who made an immense for
tune mining silver. and whose estate to-
day is estimated at s15,OO0,O 900. including in
its possessions vast silver mining proper
~. This paper IS sold all over Richmond,
and everywhere else for one cent a copy,
which necessarily entails a large loss
upon its publishers. and it is given away
in great quantities in many places. The
Times knows something of what it costs
10 publish a daily newspaper, and look
ing at the Journal, with scarcely any adj
vertising, and remembering the vast
numbers Of it that are practically given
away, The Times stands simply astound-
cd at the amount Of money that is be-
ing thrown away upon it. The free-silyer
people must not charge, therefore, mat
the Republicans have all the money.
Somebody is spending a great deal Of
money 10 scatter the follies and the nom
sense of the Journal over the country.
one of its recent articles read as fol-
lows:
The impertinence OF those employers
If labor who are striving TO discredlt
the movement i'm favor Of the free COIN
age Of silver by paying off their men
in Mexican dollars is only equaled by the
shallowncss Of their argument. with sill
yer demonetized in the United States.
with the silver dollar as now coined
standing not as a dollar at all, but as a
promise 10 pay a dollar-a mere certIh-
cate Of Indebtedness in which there is
no more need to put dollars worth or
silver than il is necessary TO put dol
lars worth of paper in a greenback-in
such a situation il Is inevitable that the
silver coins of foreign countries should
nave here no more than their bullion
value.
The Mexican dollar IS coined for use In
Mexico and has shown itself n thorough
ly serviceahle instrument for the pur-
poses for which Ii is designed In Mexico
It buys just as much wheat. Just as
much produce. just as much labor as il
did thirty years ago. And what Is more
important, the Mexican farmer can buy
his dollar with just the same quantity
OF wheat or produce. the laborer gives
only the same number Of hours work for
~ as thirty years ago. Mexico has kept
the purchasing value of her currency
stable by free coinage. Her people en-
JOY a truly honest dollar" because It's
measuring capacity when applied 10 lab =
or It's products. does not vary.
What ranting nonsense DO we find here
The silver dollar forsooth not dollar.
but men promise TO pay a dollar. and 70
be looked on. not as we look upon dol
lar. but as we look upon the paper in a
grcenhack promise TO pay a dollar,
Very well. what IS going TO happen when
we have free coinage OF silver and all the
gold dollars disappear in the boards OF
the people or are exported 20 foreign
countriese Silver dollars will then be
the only dollars in the country VIII the
silver dollar stnl be only a promise TO
pay dollar. and. II Il is. what dollar
will il be promise 70 pay? Gold will
be ~ great premium. and will silver
dollar bo a promise 10 pay one Of these
high-priced dollars?
We don't want 70 say anything DIS
courteous. but the writer OF this para
graph must have been at work when he
wrote II. trying 20 lift himself up by his
boot-straps and ne intended to say that
a. the precise moment when he succeed
cd IN that undertaking the silver dollar
would cease 10 be silver dollar and
would turn into a promise TO pay some
other dollar.
The fact is. that n we have free coin
age Of silver gold will disappear, and tbs
silver dollar will become the only dol
lars we will have. bat no longer main
tanned by the government at party with
rold dollars they Will soon fall 10 their
bullion value OF ffty-three cents each
or less and tkore will be the only dollar
the country will have. Our standard Of
value viii become an ever shifting one.