Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-07-29
MIR. EDWARD ATKINSON.
His Many Theories and HIS Cri"-
cism of Senator Daniel.


To the Editor of the Dispatch:
Mr.. Edward Atkinson, of Boston, Is JUST
now being lauded as among the foremost
living writer's on political economy. Ills
nresent sponsors are the gold monoIne-
taIsts. Eighteen years ago he ATTAINED
a similar distinction at the hands OF the
New England cotton spinners. lie was
tben uttering dismal prophecies as 10
what would befall the Southern States
~ they should permit themselves 10 DC
beguiled into manufacturing enterprises
In an elaborate article In the North
American Review he unfolded ana iii'luo
clear the scheme of Providence, unoer
,,,ntcb the south was to provide raw ma
terial the West to furnish food, and the
Eaet 20 manufacture for all. you OF
the South" said Mr. Edward Atkinson
"are now producing seven tenths OF the
worlds cotton: bend every energy 10 the
production Of the other three tenths. ana
you will have an absolute monopoly OF
~ whole Industry" So much for Mr.
Edward Atkinson's political economy.
Monopoly by excessive supply!
Mr. Atkinson is now regaling the south
with a free lecture on morals, patriotism.
and finance. He tells US that British
interests would be enormously promoted
nv Americas free coinage Of silver; but
he fails 10 tell us why 1t is that Britain
so strenuously objects to being thus en-
rIched. He sees no wrong done TO the
debtor class by the abolition OF silver.
vet insists that the restoration of that
metal would be a bold robbery OF the
creditor. He reviles Senator Daniel In
terms which recoil, each one OF them, on
his own head, and unconsclously brands
himself as a barren pretender, afiiuent
only in the jargon of his science. and
quite incapable of rising to either the
moral or intellectual level of the man
whom he denounces.
Mr.. Atkinson was one Of the Ameri-
can mouth-organs Of the British syndi-
cate which warned us three-and-twenty
years ago OF the mystic perils OF silver
money. and who graciously undertook
10 relieve us OF the curse by working II
off among the Asiatic nations. At that
time we were reducing our foreign in
debtedness at the rate OF more than
million dollars per day. With export
cotton at l6 cents. and surplus wheat at
81 80, we were swiftly wlping out the great
war-debt, and steadily approaching specie
resumption by increase of population and
expanse OF industries. We were on the
foodtide OF prosperity. Every element
OF wealth and strength and individual I'm
dependence and national greatness was
as much our own as is the free air and
sunlight which surrounds US. And yet,
after following the guidance OF Mr.. At
kinson and his friends for three-and-
twenty years, we are to-day reduced "a
the necessity OF imploring a knot OF
money-changers 10 deliver us from the
terrors OF national bankruptcy and uni
yersai ruin.
The Roman empire was 100 years dying
We, with ten times her vitality, have
been Slapped out In a quarter OF GEN.
fury. And we have done II by the simple
process OF letting our exports az hail
value and mortgaging posterity TO make
GOOD the full measure of our gift.
WHEN ENGLAND TOOK 1T UP.
England took up the coinage OF silver
,ust When we laid II down. Our abandon
| ing tho use OF It made the bullion cheap,
and England bought il Of US by the ship
| load al an average OF about half-a-crown
| an ounce Some of this she traded In
| bars for the raw produce of China, japan.