The times. [volume] (Richmond, Va.) 1890-1903, 1896-09-05
WHY PROSPERITY DID O FOLLOW
TUE REPEAL OF Al SHERMAN

WHY pRO~PEEIiN DID
II REPEAL OF THE SHERMAN
LAW.
Editor Of The Times:
Sir.-Wm The Times please answer the
following questions
We we've told If Congress would re-
peal the Sherman law relative 10 the
purchase Of silver bullion. we would have
rhe most prosperous times this country
had ever seen. Why have We not had
the promised prOsperityy' If the silver
dollar is a dishonest dollar, and is only
worth ffty-three cents. why are labOrers,
wage-earners. policy holders and other
Door people paid i'm 10 now? is 10 redeem
able in gold. and could our government
redeem 81 now without borrowing gold?
N mean all Of our silver currency II in
1915. as We are told. silver was at a
premium Of 3 per ceiH. over gold. why
was 10 demOusatlzed.
Your kindness viii be appreciated.
Yours truly.
j.. j.. SvOW.
Wicomico G. j.. Va. Sept. ], 1876.
We don't know who told our CORES
poudeut that We would have the most
prosperous times ever seen if we repealed
the sherman law. Whoever it was. was
% very rash and reckless man. a jul
dicious man would have tod hinr before
hat law was repealed that If fl remained
ia operation much longer it would cer-
tainly bring us 20 the basis of a fifty
cent silver dollar. that that would pre-
ciprate upon the country the mosl tre-
mcndous panic the world ever saw; that
this panic would be followed hy a. gem
oral liquidation. and The wlping out OF
very many industries: that hundreds Of
thousands of laborcrs would thereby be
thrown out of work for an indefinite
time. and chat after the country had
passed through a period more destructive
than war and famine. we should find that
We had accomplished absolutely nothing
but TO r~oorganize our financial system
upon the basis Of a silver dollar worth
only nifty cents. or thcfeaboute. and hat
from tnat time forward we would do
our business with that cheap silver dol
lar exclusively. That is what a judicious
man would have told him. and that is all
be would have told him. lie would never
have promised him prosperity from the re-
peal alone. He would have said we must
have the repeal and absolute cessation
Of further agitation of the subject. II
agitation should cease with tie repeal.
he could promise prosperity with GER
tainty. Brr no sensible man would have
promised prosperity II the agitation for
free coinage of silver was TO be kept up.
for that agitation would threaten every
evil which the sherman law hac-thrcat-
cned.
It is easy TO see what would have hap
penod If agitation for free coinage had
ceased with the repeal of the Sherman
Law. Business began 10 revive as soon
as It was repealed. confidence appeared
In the land. and il looked as though we
were beginning to get out Of our trou-
bies. But within a very few months the
accused thing showed itself again IN
the form OF a biz 10 ''coin the s%eignior-
age" as il was called. This was free sill
yer IN IT'S purest and most unadulterate
shape. The President put an end 10 this
wild project by vetoing the bill. but It
had passed goth Houses OF Congress 10y
great majorities and this showed the
world that nothing stood between this
country AID free silver but the single
lie and ehe good intentions or Mr..
Cleveland. The world thought thst an in
sufficient security against such a calam.
ity. and it began to send us oJr securi-
ties and to withdraw capital frcm che
United States as fast rs it could. Things
went along IN the bad state that this
bill 10 coin the seisnioraGe" brought upor
ms. until the fan Of 1894. when the Fifty
fourth Congress was elected. and that
proved TO be opposed to free silver. Tn:
gave some reinsurance 10 the worid. an
our ansirs began to pick up again. and
we were In tho beginning Of a real move
melt towards active business. when Mr..