The times. [volume] (Richmond, Va.) 1890-1903, 1896-03-29
BOOM TOWNS AND FREE SILVER THE
SAME.

over what were designated at the time
"boom towns" The delusion took pos
session OF them that 1t was possible. by
laying off broomsedge fields at country
CROSSROADS into squares, with ave-
ucs and streets marked out be-
tween the squares, 10 convert these
old fields into growing towns, and that
the lots laid of In the squares would
actually become as valuable as town lots.
II the people OF Virginia put such vaiua-
tons upon them. and passed them from
one 20 another few times at those
valuations. This delusion did not rest
In the minds OF Virginians as deiusion
only. The Virginians are very earnest
people, and when they believe in thing
they are ready 10 act on their behef.
They acted on this belief. Sales OF town
lots in a bleak country. where there was
no vestige of town, were advertised.
the sales were attended by great con-
courses of people from FAR and near;
lots were eagerly competed for by bid
ders, and run up TO the most astounding
that would not have sold the year before
for IS per acre, went of readily at ten,
twenty, and as much as ffty dollars
foot. Nor was this madness confined to
the shiftless and the visionary OF the
population. Business men, merchants.
lawyers, doctors, and even preachers, lost
their reason. The passion sliced on all,
and many Of the most judicious and least
excitable OF our people lost thousands OF
dollars by engaging in speculations that
simply astound them when they reflect
upon them now. The thing, OF course,
soon came to an end. The first rent
In the balloon let tina air commence TO
escape. and in a short time the corner
lots had gone back TO their value. as bits
Of old broomsedge fields. Hurrsh, and
puff, and advertisement were found i'm
potent TO keep a value in them which
they did not possess In fact.
We have often run over in our mind
the leading facts Of this Virginia craze,
and commented upon its exact similarity
tofhe free-silver deIusion. The free coin
ers tell US that If we will open our mints
to the coinage OF all the silver that Is
brought 70 them into coins, 10 be calied
dollars that contain each 81 IA grains OF
pure silver, those COINS will at once be-
come as valuable as gold dollars. and
although 81 IA grains OF silver are ac-
tually worth only one-halr as much as
gold dollar. Fashioning 81 IA grains OF
silver into the form OF a dollar piece can
not, OF course. add any real value 10 II,
but the free cofners say that when the
Government puts its stamp on II and pro-
claims IL TO be money, that will make
everybody think II IS money, and every
one will then take II as money, according
10 the valuation OF II that the Govern
ment puts on IT. This is exactly the ar
gument that our corner-Iot fellow-citizens
fooled themselves and other people
with. II is the common error or think
ing that windbag can become solid
1t is the foolish notion that puff, ana
hurrah, and advertisement, and brag can
be made TO pass with mankind as real
yet been DONE and 1t never can be done.
Everything in this world is nnany brought
10 the crucial test. and everything IS
forced sooner or later, to stand upon It's
the experiment Of free coinage. our silver
dollars would very soon act just as the
| corner lots did, and fall TO their true value
| as silver dollars. Just as our corner lots
| fell to their true value as integral parts
| OF five-dollar-per-acre broomsedge fields.
! The free coiners. however, do adu an ar
| gument TO that OF pun and hurrah and
| brag. They say that they will make
] our silver dollars legal tender for debt
and that will make them always go as
dollars. A little reflection ought to teach
| them that the thing is impossible. They
can force them on people for debts now
| due, but they cannot force people TO treat
them as dollars In future transactions
They may cause a man who has thou
sand dollars due him 10 lose five hundred
dollars. but they cannot force a shoe
| maker 10 take three OF their silver dollars
| for a pair Of shoes that he has been sell
ing for three gold dollars. The shoe
maker will only take their silver dollars
| in exchange for his shoes as half-dollars
and IL is beyond the power of any law
maker to change that state OF the case.
Common reflection ought to teach every
one that this is so: but II 1t did not. the
condition OF things now existing IN Mexico
should. Mexico has gone right along with
the free coinage OF silver and her silver
| dollars. containing about the sam,
amount OF silver Out a lit
tie more) as ours, are fun lega
tender for all debts. What has happen
ed? The Mexican gold dollars have al
ceased to circulate long ago. and Their
| is no money there but silver. II al
American carries a pair Of shoes to Mex
leo that he buys here for s.. he can sci
them for six silver dollars. The sam
Is true Of any other merchandise. i
that not enough 10 show any man OF In
telligence that II we had free coinage o
silver our money would at once becom
silver money only. and the dollar woul
fail, for purchasing purposes. TO the yalu
OF nifty cents.
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RUGGED PATHS.
There is a history in all mems lives.
a...r 49, .