Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-05-20
THE PENDING QUESTION.
A Letter from Mr.. j. :. Moore on
Coinage and Cognate Matters.

TO the Editor OF the Dispatch:
/ am glad TO see that some of our pub
lie men have at last taken sufficient in
terest Ia the welfare OF our people and
the country as to discuss. for the en-
llghtenment OF all, the Issues before us,
Tor IL Is truly a condition, and not
theory" that will soon confront us~-sound
money or deprecated currency. The
only statesman that seems u have arisen
20 the exigencies OF the occasion, and
who seems to apprehend and appreciate
our environments, Is our honored Gov
ernor, who IN August, 1895, wrote
an open letter. strong and convincing,
on THIS subject, and, In fact all regard
It as the abiest production on this issue
from any Nirstnian, so far. one OF our
aisle senators has Iun after the ignus fatuis
q zee silver, lored by its bright glimmer
and sheen; the other is as silent as the
fab.ad gehlnx Nothing but good can
come from a free and fun discussion
OF the issues involved; nothing but en-
lghtenment can keep the people from
plunging into the vortex of financial ruin
and the maclstrom of a far-reaching
panic that threatens us. Led. as they are,
by interested parties, blind leaders of
the blind, they are nearing the precipice
OF financial wreck.
As plain. practical businessman.
who looks at matters from plain and
practical standpoints and their legitimate
conclusions and results, l cannot but
regard the prospect of the adoption OF
free coinage of silver as one OF the
greatest national disasters that could pos
sibiy befall u.s. The little business now
being done would cease: the little con-
fidence now existing would perish the
little hope now enjoyed would die away.
a panic OF great magnitude would ensue
II this ill-starred scheme should be ac-
complshed. All OF our woes have
been charged TO the decentralization.
so-called, of silver I'm 1873. This
act. II is claimed. has caused the price
OF agricultural products TO fall TO exist
ing prices. etc, etc.
/ have never been able TO understand
how II Is claimed that silver has been
demoneuzed. when a silver dollar Is
Just as good as gold dollar; and when
ats purchasing power Is greater that II
was ever before In the worlds history.
IL this be the result of demonstration,
then it Is a blessed thing for the poor
man, AZ demone tzation. instead OF de-
preciating and destroying the value of
the silver dollar has enhanced and In
creased It's value. Then the act calls for
communication, instead Of denunciation.
To statistioians It Is a well-known fact
that from about lSSS 20 ISIS no silver
dollars were In circulation: the quantity
OF gold and silver produced IN this coun-
try from 1919 TO 1851 was about equal.
From 1853 20 about 1880 gold was IN ex-
cess. After this the tidal-waye OF silver
began. until II has doubled. IL no more
or no greater proportion OF silver be
coined. the government can possibly con-
tinue TO maintain the parity OF the two
metals: but u the baser metal is coined
In unlimited quantities the more precious
will at once seek cover and disappear
from circulation.
A FAKE EXPOSED.
have met with some advocates OF free
silver who honestly believe that Il is
the object and purpose OF the gold-stand-
ard advocates TO call in all the silver
now coined and TO coin no more and 10
CEASE 10 use silver as money at all. As
absurd as IL this proposition, numbers Of
people really believe Il. No such caiect
on purpose IL aimed at or contemplated.
The silver now In use will remain.
and It's future coinage will be regulated
In due and proper proportion with gold.
according 90 the natural laws OF supply
and demand. and II this country In not
flooded with free and unlimited coinage
Of silver the gold now In the country,
backed by the government stamp. will
float II al It's coinage value But n silver
be coined In unlimited and unrestricted
quantities. It's circulating value, It's pur-
its commercial or bullion value. the
n sxtr1nsic value BY It's mere nat be-