The times. [volume] (Richmond, Va.) 1890-1903, 1896-06-07
THE SECOND QUESTION ANSWERED..

As promised yesterday We this morn
ing answer the second question OF our
Granville county On. CD correspondent.
Ills question is What would have been
the effect 81 interest on bonds had been
paid Mr.. Carlisle in silver and not in
gold?"
The effect would have been that tho
country would at once have gone to Sill
yer basis. all gold would have disappear
cd. and the gold dollar would have sold at
premium equal to the difference between
the bullion value Of It and the bullion
value of a silver dollar. The country
would have had tho most awful financial
panic that ever was dreamed OF which
would have ovorthrown all business and
covered the land with wrecks, and after
years Of unparalleled suffering and dis
tross We should have worked out OF 1t 10
begin business again upon the basis OF
a coin worth nifty cents, instead or upon
the basis of a coin worth one hundred
cents. We could accommodate ourselves
TO that condit on in time. undoubtedly,
but when We did it We would only De
where We are now. We would be upon
the basis Of silver monometallism with
the dollar worth Iity cents, instead OF
upon the basis. as now. OF SOLD
monometalism. with the dollar worth
one hundred cents. People can un-
doubtodly transact their business with
fifty ents as the standard OF Naine
as well as with one hundred cents as
the standard OF value when they set
used TO that condition and have ADJUST
cd all the relations of life 20 II. Inc
French do business with the franc Which
Is only worth twenty cents. as their
standard of value. The English do busi-
ness with the pound. which Is worth
nearly five dollars, as their standard OF
value. SO that country may nave
coin Of any value whatever as It's stan
dord and when that is fixed and under
stood II is of no particular consequence
what the coin may be actually WORTH
The importfnt thing IS that 1t snail De
fixed and unchlngeable. so that all men
may, l,nov with certainty what Is meant
when the standard Is spoken of. But II
we should attempt 10 dislocate all OF our
affairs as free coincrs want us TO 40
nv suddenly stepping down from 'he
o,o-bundred cent standard TO the nity-
cont STANDARD We would introduce bed
io,o into all the affairs OF life and create
such n condition Of confusion as would
amount TO anarchy and chaos.
The Secretary of the Treasury had run
authority of law for paying out gold wheh
e. was asked for instead Of silver Inc
sherman silver law passed in lSsv when
proylded for the purchase Of 4'pV'vv
o,,cos Of silver each month, declared
~ a. was the established policy OF the
,,.,.or,,r,ent to keen the silver dollar and
tho gold dollar at a par with each o'i'''
Now when gold was demanded ai'er
,,.t she Secretary could have paid SILVER
., Ia had pleased. but would not that
have been equivalent TO the Goveinmeh.
sovinr that it preferred to keep us so'u
.,1 - nav out its silver and would not
49,. how, been a discrimination against
,u,.,r That would have been lor
49,. co,ornment to destroy the party
,,ot,yccn the two dollars and put 'he '''-
,.or dollars at discount. II inc GOV
-,.,o,+ did this. of course, eVeryoOuS
.,so would have done the same an" "o
'''' 49, once have stepped down 10 the
snvp basis.