Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-04-26
An.rer 10 Colonel BurEwyn.


A letter In Sundays issue on the cur
rency question, written by gentleman
distinguished in many ways, Is SO strdhse
In Its assumption that do not think any
friend OF silver ought to let the STATE
ments Of the case go uncontroverted. Coi-
onel Burgwyn, for IL Is TO him reier'
says that party Investing N0VV. sup
pose he refers to our currency, IN Mex
co. would get back 1000 silver collars,
worth only 90 cents each, ana wou.o
lose 1900 when he called In his invest
ment. This cannot be so, according 10 the
way business Is done with foreign ceun-
tries. IL an investor sends $4,000 gold OF
United States notes, or gold dralt, 10
Mexico to his correspondent there, ne 10
credited with Mexican money at the rate
of premium at market price OF gold OF
United States money. IL gold Is at
premium Of sc 20 per cent, he would re-
ceiye a credit of sl6.666.66 leach would be
the per cent. allowing 60 cents to W.
When the investment has been realized
on, II gold Is still at premium OF 20 20
per cent. the investor can get his siO,Vo
in gold, II he has lost nothing by his in
vestment. The premise OF Colonel Bur
gwyn being incorrect, all deductions
drawn therefrom must be unsound. But,
as there is evidently war. land to the
knife" I think, between the gold ana
silver factions in this country, and VIII
be In the whole world ere long, nope
you will permit me 10 say word In
favor of silver. 1t is, 1 think, undeniaoie
that 1t is for the good OF mankind to nave
plenteous crops; that manufactures ana
mining should be encouraged; That an
forms of wealth should receive such aid
and assistance as is consistent with the
powers Of the government, and all other
~ hau fblQ fostering care
and assistance except silver, which forms
a great part Of the wealth OF every nation
of the world. II has been accumulated
by labor and great cost In past times. IL
has been looked upon as money metal
and from II coins have been made since
man began TO trade and traffic; metal
from which our most useful household
articles are made, and from which works
of the highest art are manufactured, mas
been decried and warred upon by leSisla-
tors ia this country and in England, un-
til IL has lost half nearly OF Its market
value. without being exact, IL the silver
bullion OF the world is $500. 10000 in
value at present, It would have been So
Oo0 10000 IL It's value had not been halr
destroyed by inimcal legislation.
Can any reasonable excuse be given for
such destruction Of one of the chief ele-
ments Of wealth which the world DOS
sesses? 1t is we'll for mankind that
wealth should increase; and silver, an al
most indestructible metal, which cannot be
lost to man unless sunk in the depths
It's a pure metal.
In ali the world to-day, except among
the gold-standard people, silver is sought
after. The savage, as well as tho civilized
man. knows its value. Untold sums OF sill
YER are in the cottages and humble homes
of America, Europe, Asia, and Africa. 1t
is the only currency OF the latter two
continents-and to destroy its value, and
take away one OF its chief functions-its
right TO be coined-is a wrong TO millions
nay, possibly. a billion OF people. And for
what purpose was this waste OF Intrinsic
value? Simply and solely because GER
tain class OF men who claim they have
made a study Of the matter say that
silver is too cumbersome, too heavy-thaI
there is too much silver being mined for
It longer TO be valuable as money, and as
a standard.
And who are these men? They are de-
scendants OF those spectators in finance
who folsted on the world the South
Sea" bubble--and many other bubbles
I'll England was well night bankrupt
from paying 1900 a share for stock
based on nothing. These men Of the
present day, going to the other extreme,
wish now 20 have currency SO scarce
as that the creditor will get, in times
Of trouble. his debt, IL he wants 1t, or
the property on the collateral which was
placed 10 secure the loan, at half price.
And they call what they demand The
gold standard a measure OF value,
when by the operation of the said stand
ard there is no value 10 many things
which had stable, certain value until
gold crushed out all demand for anything
save itself
And these gold-standard people claim
they are working in the interest OF the
Iaborlng man, when the effect of their
labors TO obtain the gold basis has been
to stop enterprise, curtail employment,
and take away the chance 10 earn
wages-for unless the workingman can
get employment cheap goods do him no
good. He has nothing to buy with, how
ever cheap everything that man needs is
But the receiver OF interest from bonds,
the officers Of the government, national
and State, the city officers, and the
clerks and officers OF banks. Insurance
companies, these are benefited. They are
not employed by the day nor the week.
Their pay goes on yeaiIy; and cheap
living IS the same to them as a heavy
increase OF pay. 5000 buying what 1900
formerly bought. But 1t is an insult to
the workingman to say that the gold
standard benefits him, for 1t has taken
away from him the means OF buying, be-
cause he has no employment. Not every
laborer is unemployed, but large numbers
are, and my contention is that the gold
standard has been a blight and curse n
trade, manufactures, and farming; and
It is in these two latter that the work.
ingman makes his living. The men who
have led us into this great trouble will
not, cannot lead US out and until there
are men In our Legislature-national, i
meanwhile have different views on
finance from those now i'm power in the
United States. there will be no relief,
and distress and want viii increase, and
all the evils which follow in the wake OF
poverty will affect our unhappy people.
Z. c. GODDIN.
There Is a great demand for black and
rg.Ig faH