Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-10-04
The Advantage Of Free Silver.

To the Editor of the Dispatch:
In the Times of the 18th Is an editorial
headed "Mr. Bryan's Hopeless Ignorance
of Finance" Now the Times surely can
not plead Ignorance of finance" 1t is
evidently an expert" authority, and
should IT mislead the people. 1t would
not be through Ignorance" Let US ex-
anime tho premises. Simply stated. they
are that business transactions are based
on exchange of the products Of labor. ia
cilitated by money as a measure Of value
and medium of exchange. This Is alb
solutely true. What is his conclusion?
That the expression of the labor value as
found in the money value is entirely i'm
material. This is absolutely false. and
is no new process since the plan OF
making the shekel great and the ephal
small is a mode OF swindling the laborer
as old az the days OF Jewry. Why? Be-
cause the exchanges are made through
money-changers, the value of whose SER
vices are found IN money values" to-
gether with rents storage, transportation.
&c. Again, because simple exchange
would contemplate necessarily a simple
cash basis. without intermediate specula-
ton, whereas we all know that the bust
ness of civilization, 10 its sorrow, Is done
on a credit basis. Take the Times's IL
quantities Of dry goods and other mer-
chandlse from England, and her mer-
chants buy great quantities OF cotton,
wheat, corn, and oil from us. &c, &c. ="
Nov, ore would think that with child
like innocence the Times thought that
the measure of values would simply serve
as medium OF exchange here, without
affecting the result of the transaction
at all, but the absolutely pertinent fact
is suppressed that the medium of exchange
so called is a weight Of gold of Is $40
grains, or Of silver of E21-2 grains, and
that an annual interest bill OF some &c.,
100000 of these dollars has to be met
and measured in products Of labor"
Now let us see how this affects us. as al
Illustration
England orders of the United States
100000 bushels of wheat. 100000
bushels corn, 5000, coo bales OF cotton, and
10 10000 barrels oil We will assume
that the Times is correct in the assertion
that the value of the above-named gold
dollar is 100 per cent. greater than the
silver dollar. and will make two ac-
counts-one on gold and the other on a
silver basis.
FIRST AccOUNT-GoLD BASIS.
United States to England. Or.
To amount interest, 1896. 500 10000
BY 100000 bushels
wheat at SOC. per bushel
BY ioo.0CooOo bushels
corn at 25c. per bushel
By 100000 bales cot
ton at $40 per bale
BY 100000 barrels oil
at S. per barrel
gold)..., ...... 5O,VU'Vo0
- 1S. 1900
Balance due England ....... sll5 600. 900
This balance must be met at once in
the product of labor, In gold or in bonds
bearing interest. meaning In any case
balance OF trade in our favor appa-
rently. but really draining our country of
its resources, and pauperizfng our labor
to the extent of sll5. 100000 per annum
in excess of the labor of producing the
corn. wheat, cotton, and oil actually
not obviate but just see how far 1t
alleviates this difficulty.
SECOND ACCOMPLISHMENT BASIS.
United States to England. DR..
TO interest, l&6.... ............ $500. 10000
BY 1901 600 bushels
wheat at 81 (silver). 500, 000, 900
BY 100000 bushels
corn at soc. (silver).. 100000
BY 100000 bales cot
ton at $40 per bale. 10Q,000.O00
BY 100000 barrels oil
at $40 per barrel.... 100,0oO,600
- $40, 900
Balance due United States. 8 70. 900. 900
Which decreases the bonds by 900
on this transaction. or gives us coin or
the products of English labor to enrich
our country. The gold road Is. therefore,
the road to bankruptcy, and penury,
causing our laboringmen 10 work without
remuneration TO feed English mouths.
The silver is the road TO opulence-to
that fair exchange which robs no man.
Is there not a difference? Surely. child
can see II.
Away with the sophistry OF truth half
told. Away with a proposition TO the
people TO double their debts by legal en-
actment under the specious pretence OF
UNFOLDING the measure of value" and
cry for the best dollar" which Is intend
ed to be best for the bondholder, and
not at ell for the laborer. Away with
the false appeal to the salaried laborer
to insist on leaving his ,unsalaried brother
without the means OF a livelihood. thereby
forcing him from his plow to come In
competition at the desk or anvil.
Another point. Mr.. Editor Since money
Is the measure" of value. what Is value
itself? Why. doubtless labor as expressed
In it's products. Now every avocation OF
OF farm labor. The pillow. the spade. the
hoe. the carpenter with his tools the
weaver and his loom, and all professions
and employments, are In direct answer TO
the need OF the farmer EN- he "a FURNISHES hn s,,rs
nishes them the food In exchange There
fore, he produces all values. What does
the capitalist producer Nothing! Wnar
does ne furnish? A medium OF exchange
And yet the Times would have US give
him everything we produce. and more In
bonds. What magic 10 there In the metal
gold that we should throw down the
products Of our silver-mines, which We
have. and try 10 meet our obligations by
borrowing gold. which we have not? II
this Is Just and right. then Let justice
be done tho the Ravens fall" But on
what pretext can sych q claim be SUD
not be thus robbed OF their rights and
their manhood These gold people want
something for nothing SOUTHSIDE
orders for printing sent to the Dispatch
Company Will be given prompt attention.