Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-08-23
DIR. PENDLETON.
why He VIII support Bryan and
Sevnll.
Gordonsville. August IS 1886

To the Editor of the Dispatch:
do not believe that the free coinage OF
silver will bring the Immediate relief TO
tho business interests of tho country
which is anticipated by the more ardent
supporters OF this measure. on tho con-
trary. l think that this relief Will not
come until there has been a general con-
currence in bimetallism by the great COM
mercial nations OF continental Europe,
and until the business OF the world has
had sufficient time TO readjust Itself TO
this radical change in It's finances. do
not look for any concurrence on tho part
OF England In a scheme which is so OBJ
viously opposed to her interests.
Mr.. Whitney tells Us that Germany
France, aud the Latin Union are now
ready and anxious to enter upon the
restoration of silver TO its former posi-
tion but that the immediate resumption
BIZ the United States Government OF the
free coinage Of silver would have the Ell
feet of delaying action on the part or
these foreign nations. | do not see the
force OF his objection. Germany followed
the United States IN the decentralization
OF silver within five months. France fol-
lowed within Il short time. and all the
nations composing the Latin Union adopt
ell like measures in less than twelve
months.
II they we're so prompt in following this
| government in demonetizing silver, why
| II az Mr. Whitney asserts they are now
ready and anxious 10 retrace their steps,
should they be deferred by this govern
ment taking the initiative? | infer that
| IL would rather be an inducement for more
| speedy action on their part.
Now, suppose that within n year after
| the restoration OF silver to free coinage by
/ this government these several nations
/ should take similar action. who. then,
| would have just Cause Of complaint? Ger
| tainly not the Republican party. since the
| platform OF the St. Louis convention COM
mits them TO bimetallism II the great COM
! merclal nations Of the world concur In II.
Assuredly not the sound-money Demo
Gratis. for the Democratic platform OF 1893.
upon which they all stood, committed
! them 10 the same thing. And most as
suredly not the Populist party, for they
| have ever advocated the free coinage OF
/ silver with or without international con-
/ currence Some one country must take
| the initiative In this matter. Why not the
| United StatosY
/ But is the Republican party sincere IN
| their support of this plank in their plat
/ form?
/ Are they in fact bimetallists. except IN
/ n very restricted sense2 And do they
/ purpose 10 advocate bimetalnsm even
when international concurrence shall be
| obtained?
The great expounder OF the financial
theories OF the Republican party. Mr.
/ John Sherman in an able and ingenious
/ speech, delivered I'm Columbus. O., Il tc"
| days ago. addressed his whole argument
/ TO the proof OF the proposition that gold,
/ and gold alone. IS the only suitable metal
for a standard and for the coinage Of
money for ultimate redemption II he be
/ honest IN this assertion. could he honestly
! advocate bimetalLsm. even with Internal
tlonal cCTcurrence2 Believing that Mr.
i Sherman represents truly the opinions OF
| his party. and that they are unalterabiy
opposed TO anything but a simple gold
standard, l am forced 10 the conclusion
that the money plank I'm the 81. LOUIS
Republican platform IS mere 'tuo
thrown TO the whale
The advocates of sound money and
gold standard are greatly exercised by the
| fear that the action OF those who sup
] port Bryan and Sewall will force this
/ country into monometallism on n silver
/ basis Why fear a future disaster which
! IS already an accomplished fact? Every
dollar OF gold and Treasury notes re-
deemabls I'm gold have been long since
| corralled by the great money powers OF
4 the country. The United States Govern
] ment Is bankrupt so far as this medium
OF exchange IS concerned. IL holds In It's
! Treasury only such gold as It has been
able TO borrow from the money-lenders'
1 and holds this temporarily by the consent
! and tolerance Of these same money-lend-
I ers. who hold in their hands the Treasury
| notes OF the government redeemable ii-
gold which in a day would draw from the
| Treasury every dollar OF gold In IL.
What medium OF exchange IS available
10 the great mass OF the people? silver
certificates, national-bank notes, and some
n hfty-two millions of silver dollars. Yet
we are told We should be happy and con-
tented with the present condition or al
u falrs-that the gold dollar. which has
i been placed beyond our reach, Is the only
| honest dollar. and we should uphold II.
As we'll tell the people that the ambrosial
/ nectar OF the gods Is the only suitable
II drink for them; il would be just as avail
| able as the gold coin. When. under the
! present condition OF affairs. We see
| throughout our land the prostreton or
| business OF all kinds. the wreck OF CON-
/ merclal enterprises the Improbable
ness Of labor. and all the other
| evidences OF general Impeachment
] what REFER 4Dc5 lut ANNbNSt4~tAA
party hold out TO the distressed
| people? a high protective tariff,
that will tax ninety people that ten may
/ thrive since the United States census
shows that not more than 10 per cent Oh
our people are engaged I'm manufactures.
, 4 frowning down Of all legislation looking
10 the imposition Of an income-tax, which
I would force the wealthy classes 10 pay
! something like a fair proportion OF the
taxes FOR the support OF the government
A continued increase Of the bonded in
debtedness OF the country to supply gold
10 meet its obligations. and lastly, re-
serve measure. which IL is deemed poll
tic to hold in allegiance. the enactment or
a force bill. which Will perpetuate the rule
OF the Republican party.
! For one. / beg to be excused from
| participation in this unsavOry dish.
| The Democratic platform as formulateo
at Chicago seems 10 offer some tangible
hone OF relief from the present distressing
condition OF affairs and since l can see
no promise OF relief. present or prospec-
tive. I'm any other direction, l shall cheer
fully vote for Bryan and Sewall. and do
oil