The times. [volume] (Richmond, Va.) 1890-1903, 1896-04-22
A Free-Silver failacy.

To the Editor of Tho Times:
Sir.-It Is much easier to jump 10 n con-
oi,,sion than TO reach one BY inc ferrous
process o: reasoning. But as cohciuslons
so quickly arrived at are nearly al"a!S
as t.lse as the promises from winch my
aret deduced, correct reasohei
70 sxamine all things which may affect an
are,,ment before he ventures 10 anrm the
truth or falsity of a proposition. rake
the plea for Instance set up by the ahNo-
Gates OF the free coinage OF SILVER al 10
to l. They claim that the only reason
for the existence of a nfty-cehl uo"tli %
the act OF 1873 whereby silver tHey
allege, was demonetized 49,
Now there is no disputing the fact that
this proposition IS quite POSSIBLE ana
while we do not wonder that many NON
est men believe it to be true, yet II does
seem surprising that any ordinarily cleVer
man should. But as assertion is not rea-
son. we Will endeavor TO show tnat lhis
darling of the silverite Imagination i ohlE
n cheat and a fraud OF the most superb
c,oI description. All that Is necessary 10
do this is TO refer IN the first place to the
basic principles Of right reason as d
starting point. No one ever denied the
relation between cause and erect ms
then. we take for granted all our silver
tie friends VIII concede. Secondly there
cannot be anything in the enect "Iilch
was not already in the cause, however dis-
proportionate they may seemingly De
Now. then we lay It down as PROPOSE
tIon that the act of 1873, the alleged cause
of the fifty-cent dollar, was not suIlcleht
to have produced the effect stated
This, we think, can be very clearly
shown by pointing out the difference that
exists between the price OF things and
Ind
illustration OF this difference. Circum-
stances govern prices, but hardly in any
case control value. a person very Often
by compulsion, is forced to pay Tor a
thing more than its value. while on the
other hand, he is often compeiied 10 us
pose of a thing below 1t. So, then uere
are two kinds OF values, fictitious ana
real value. Let us apply TINS 10 shVer.
The real value of the commodity Is what
Il is worth when placed upon the market.
It's fictitious value is what 1t is supposeh
to be worth. aided by legislation. now APP
plying this to the question under con-
sideration, and here Is what we hnu
silver upheld by something more valuable
than itself is rated at par. Remove this
and II at once falls 10 It's real value,
which is fifty cents. Again, not govern
ment fat, but the opinion of mankind IS
what gives value to a so-called money
metal. Now. Is IL not a notorious iac'
| that previous 10 1873 the majority OF the
| civilized nations had decided that silver
| as standard money was not az valuable
as gold? To argue. then, that the act oil
| 1873 accounts for the presence or the 90
| cent dollar, is 10 Put into an effect wha'
| was not in the alleged cause ana hehce
| we are forced to believe II was from some
| other cause, and that was the decree OF
| the financial and business world. But. 1T
| order 10 maintain this erroneous opinion
| the advocates of free silver pointed 70
| the fact that a dollar in silver VIII buS
/ as much as "a dollar in gold. suppose we
| grant what they wish to prove by THIS u
be true. and our silver friends prove Toe
| much. for IL is tantamount TO saying ina
| the alleged crime of 1873 amounts Il
| nothing after all by being imperative. Bu
| seriously do our free-silver friends no
| know that but for the promise or oui
| Government to redeem all its currency II
| circulation with money worth one hun
dred cents in the dollar, that our NIFTY
| cent dollar would only buy nifty cents
worth of anything? The more the mali
| contention of the advocates Of silver /
examined in the light Of dispassionat'
reason. the weaker IT becomes.
OED-FASHIONED DEMOCRAT.