The times. [volume] (Richmond, Va.) 1890-1903, 1896-04-25
soME QUESTIONS ANSWERED..

The Times has received from Mr.. James
y. Harrison, of Danyille. Va. the follow
ing letter.
Danyille, Va, April q, 1896.
Editor Richmond Times:
STA free-siiVer friend of mine Justi-
fies his advocacy Of this dangerous policy
and condemns my adherence TO sound
money by asserting that gold is constantly
approaching in value, and every econo-
mist OF standing admits that no currency
can be safe which Is based upon an ever
approaching metal. is this true-trst.
that gold is approaching; second, that II
is not safe 10 have such "a metal as the
standard of value? Per contra, 1 argue
that silver is ever depreciaung, ana there
fore is more unfit 10 be the standard Of
value.
He insists. further, that in Mexico all
the stable articles of commerce
are worth in Mexican dollars
approximately no less and no more
to-day than in 1873. ana when 1 con-
fronted him with the suggestion that al
though the price in Mexican money may
be the same that money is deprecated
about one-half, he answers that this Is
due TO the appreciation of United states
money, and not 10 the depreciation oil
the money Of Mexico. Now, answer me
this--ilrst, is ii true that wheat, &c, are
worth about the same in Mexico to-day
as i'm 1873, and. second. is the deprec'a-
ton Of Mexican money due 10 the appie-
citation OF our own money?
lie further contends that the mainten-
ance Of the gold standard drives gold
from circulation as money into use IN
the arts or 10 be boarded as bullion;
and thus increases its value. because the
requisite supply is less than the demand
of monetary commerce; whereas by free
coinage silver will be restored 10 It's parity
with gold. the two metals Will be brought
very nearly to the ratio of lG TO l, and an
adequate supply be furnished TO meet the
present demand for money. lie asserts
these things as true with an assurance OF
conviction that cOnyinccs many whom he
seeks TO ir 9uencc. ar.i my own ignorance
prevents my answering him even 10 my
own satisfaction, although 1 instinctlVely
feel that his arguments are fallacious and
his statements misleading.
Finally i turn 10 you, because ! have
faith in your knowledge Of the subject
and In your ability TO enlghten myself
and others.
My own mistaken belief is That we
must preserve our standard or value, the
money OF redemption. and strike the
shackles from the wrists Of commerce by
establishing State banks. whereby remote
localities can be released from their bane-
full enthraldOm TO the centres Of capital.
This Is possible only through the Democ-
racy. All our troubles IN trade came from
the vicious Republican policy Of protec-
zion. and in finance. from the vicious sys-
tenn OF national usurpaton OF banking.
j hope what 1 say viii merit your at
tention and answer. Very truly,
JAMES i. HARRISON.
In answer 10 Mr.. Harrison's hrst ques-
ton. we must say that we know of no
reason for thinking that gold is appreciat-
ing in value. The production Of It Is
steadily increasing each year in the most
astonishing way. and the use for it as
money is steadily diminishing as i'm
provemonts in lOcomOuon and the commu-
uication Of intelligence and methods OF
banking are put in wider use. We know
of no economist who has treated the SUBJ
iect from the standpoint OF an apprecia-
ton in gold. We know OF a number OF
blatant free cOncrs who have, but we
cannot call them economists. But fur
Their light may be shed upon both points
as we advance.
Mexico Is a country that has free coin
age OF both gold and silver az about oar
ratio-l651 10 ]. TO be accurate. That has
been hos law for very many years. silver
began to decline In value all over the
world about 1876 ana Mexico was not
exempted from that decline. undertake
ing to keep both gold and silver dollars
ahoat, in spite OF the decline, the gold
dollars all retired from circulation. and
soon left the entire field to the s.lveTy
dollars. The money Of the country Is now
exclusively silver and paper based upon
silver. Gold is never seen unless the
gold dollars are bought. like any other
commodity, and Il takes about two MeXi-
can silver dollars 10 buy one Mexican
gold dollar.
our information IS that all things pro-
duced IN Mexico that enier into the daily
life OF the people bear something like The
same price now that they ala before sill
yer began 10 decline IN value. and that
II a oushei OF POTATOES sold for a gold
dollar in 1879. 1t sells Tor a silver dollar
now. But whatever is imported into the
country from abroad bears foreign prices.
That is. II a suit OF clothes Is brought from
London NhlfA costs ia isVhVVh -, III
will bring IN Mexico. twenty-five Mexican
gold dollars. or nfty Mexican silver dol
lars.
The fact that Mexican products FOR
home consumption continue TO sell at the
same price in the deprecated money as
they brought before is a singular niustra-
ton OF the well-kncwn fact that when
the money OF country depreciates, wages
for labor are the last thing 10 rise. MeNi-
can labor Is practically very close 10 slave
labor, and the Landlords have succeeded
in forcing the laborers 20 content them
selves with the old pay In name, though
II has lost half Of its value. In this
way they have been able TO keep the
prices Of what u used IN the country