The times. [volume] (Richmond, Va.) 1890-1903, 1896-07-19

Like the TaIismanic Wand. "Proteetion,
IL Ha- Led the People Astray.

banner, upon whose folds are emblazOned
the magic legend OF Free Coinage OK Sill
yer at IL to l." excites tho wonder OF
the student OF political economy. the pa
triotism OF the statesman, and the alarm
OF the conservative element OF our So
social and political Organization.
What are the potent factors In this
great movement? Why are the people 30
carried away by this idea? What are the
benefits the masses are to derive from
the enactment OF law authorizing free
and unlimited coinage Of silver at 10 10
/? What is tho animus Of its advocates?
What Is 10 DO the outcome. the ultimate
result. should they succeed These are
au-important questions, and Wei worthy
OF calm and thoughtful consideration.
Arc It's advocates actuated by selfish and
sordid considerations, or are they self-de-
iudel. carried away by a sentiment, or
ara they influenced by what they con-
ceiyo to be tho good of the country? is
tho spirit that influences this movement
touched with agrarianism and S0ciallstic
conceptions, or are they influenced by
utiitariau views and patriotic motives
That our people, the laboring class, that
constitute the masses Of our people. VINO
WELD the power by their ballots, are
being deceived by mere ca-cl-wOrl, de-
luded by d linking cimbll An empty
SOUND, talismanic idea, is the cOn,lu-
sion I am compelled % arrive aI Hiss
tory often repeats itself. popular crazcs
have occurred at various periods in the
history OF different nations. notably the
famous or Infamous Land Bank scheme
IN England, inauguratcd by one Hugh
Chamberlain. I'm 'he reign OF William and
Mary, in 1893: the South Sea Bubble
scheme; the Mississippi scheme, Origi-
mated by John Law in France IN the
reign oil LOUIS. the Fifth. This country
has also had her eras Of popular crazts.
There was the Granger movement which
was followed by the GreeuDaCk move
menr in 1873. next came the Labor craze.
which eliminated in the great strikes Of
lss.S. Following close upon the Labor
movement came the Farmers Alliance,
with the absurd sub-treasury money
plan as its main issue, and now we have
inc Freo-Sllver dcluslOu, which seems 10
bo tho most serious craze the American
people have been infatuated with, but
as soon as the people are convinced of
tho truth Of that great elementary prn-
ciple In economic science that government
cannot create money, then this last ana
most dangerous craze will pass away az
e.
As soon as our people understand that
cheap money" means dear goods, the
SAME wages, and salaries Wilu a large
decrease IN the purchase power OF tho
money they receive, this jelusion will
pass as others have; the kind Of money
the working man wants. and IN fact. that
eftfy no ICst man wants is that which
will buy the most of those articles he
needs. Cheap money means high prices
and dear money means low prices, this
trulsm cannot be gainsad. The minds of
tho people have tttn prejuilced, thelr
passions appealed 90, their second sober
thought oyerslaughed by wrong inn
preston. The groundwork, the basis Of
aIl tho arguments used hy ,le adY0rl-aa
of free silver, is that this metal has been
dem0nctized. The absurdlty vi this ass1r-
tiOn ought 10 De apparent when -he.e ls
more silver now IN circulation in this
country than ever before, every dollar Of
which has tho same purchasing pow err
as the gold dollar has and is taken on
an equality with gold. This fact, it would
seem, ought TO dlsabuse any reasoning.
mind that there has been 40 dcmOuetiza.
ton. Silver has always been the money
OF the poor man. The dollar of his dad
dy,' has always had safe place in tho
heart Of the people. and any attempt u
do away with it naturally cXcitcs their
alarm, but the advocates OF sound money
have no desire 20 dispense with this yaiu-
abio ana indispensable auxiliary, or 10
cUrfail its reasonable use as stani-
ard of value and q medium, of exchange,
and the effort t0 restrict its free and unit
limited coinage is simply 10 perpetuate its
use ami 20 prevent its debasomcnt, which
would Boo the result II coined in uniimit-
GA quantities. without international
agreement. II lead or iron or any other
metal We're mined I'm quantities beyond
the demand. and thrown upon the W0rIis
markets. the result would be a decline
I'm price. The vast output of silver mines
iu recent years has caused a decline Dad
tho commercial value Of this metal. and
tho stamping " pieces Of metal boy gov
eminent for more than IT'S intrinsic worth
would Boz false economy. and would real
is result in permitting the employer 20
pay the cmplOye I'm d deprecated cur-
rency, with certainly less pur-
chasing power than the money
he now receives for his labor.
II the working and saiarel man can be
convinced that the sounl-money men do
not wish 90 discontinue the Use of silver
as money. and that by the free coinage
OF silver NE would be paid I'm O. currency
not worth half the present purchasing
power OF tho wages no nOw receives. he
would at once De averse 10 free coinage,
and yet methinks no one can question
this proposition. Tho result OF free coinage
would Do an enhancement ia the price OF
tho necesearios Of life without q cores
bonding advance in wages or salaries.
Does tho man who now gets 500 per
month. or the man who getI s. per day,
believe that n free coinage exists. ha
would get I'm one case 500 per month or
in tho other 81 per day? Does ho doubt
that II FREQ coinage prevailed. bee would
have 10 pay 81 20 IS per barrel for flour,
40 cts per pound for sugar. and double
what he now pays for meal, &c? If this
Wers not the case. Why do thr Iopu.ists
advocate free coinage? II they did not
expect TO get more for farm products,
would they be in favor OF this measure?
Who is % pay them this enhancement in
their products. but the consumer-the La
boring man?
Tho people are easily led astray. for
thirty years the Republican party Kept
in power under tie talismansic word
Protection" The people were
deiuded by II. IL charmed them
whilst they were being taxed
and robbed all these many years,
until a campaign OF education and en-
lightenment vas inaugurated under the
auspices OF the Democratic party, and
they swept from power that party that
had plunecrei them. and non-Protection.
80 far al least as its most onerous and
Objectionable features are concerned, has
been dispensed with never TO return. and
- tho raorf, faanrna crIfvhfeufF an