Richmond planet. [volume] (Richmond, Va.) 1883-1938, 1896-08-08

Then, when confidence comes, prosperity
follows. How / think that can be reached
win tell you soon.
Meantime let us see what Is proposed by
those gentlemen who within the last two
months have discovered a new cure for all
the Ills flesh Is heir TO and who proclaim,
as they did four years ago. that they alone
hold prosperity In their grasp.
Their remedy is the coinage of silver at
1o to l. What docs that meant
Heretofore whenever gold and silver have
stood together &c has been at the market
valus Whcn wo tried to make gold and
silver circulate together, We have always
married them according TO their market
value Today we find than not 10 to /,
but 81 to I, and we are going, they say, to
lift silver 20 twice its value, not by tho
universal sense OF mankind, which alone
makes values, but by the statute Of the
United States, single handed against tho
civilized world
Why should the United States try TO do
this alonsf
If the characterization of silver is dis
ease at all, 1t is a world disease. defy
anybody TO find single argument which
proves that the remonetization of silver
would be good for the United States that
does not prove that it would be good for
the whole world If 1t Is world disease,
how can IL be reached except by a world
remedy International bimetallism / can
understand, but this driving out OF gold
aud substitution of silver is only silver
recommendation for the United States
It Is not bimetallism for the world and
q stable currency, but the shifting from
gold currency and civilized Europe and
going over to silver and Mexico, Japan,
India and China Oh, but China and
Japan, India aud Mexico are prosperous
Just nowi Yes, but what kind of prosper
styt The prosperity Of cheap labor, grow
ing cheaper every dav. Manufactures,
there may be prosperous, and traders may
be prosperous, but the people are not pros
porous at all Up here In Maine and New
, Hampshire paper pulp Is made cheap
Howl Because the manufactures IL clos
to cheap labor. In silver countries labo
u cheap and kept cheap by the silver dol
lar. For my part do not want that kline
OF prosperity. want a prosperity which
by good wages to all is shared by all w
want q broader life, broadening every da,
for all our people.
1won't discuss the question whether Oh
free coinage of silver win raise 1t TO par o
not Very few people claim that 1t will
and II they did could not believe them
I was told in 1890 by two OF the mos
sincere as we'll as the ablest men that tn
purchase Of $500, Oo0 ounces a mont
would raise silver to par, and when we di
buy It silver went down like lead 6ilve
men have not been good prophets IN tn
past.
If, then, we are going to have q jolia
inferior to what we have today, what wi
be the effect OF 1T Higher prices, the
say. Not for everything. II you hav
800 In. the savings bank today, you ca
get 100 gold dollars from the bank. II tn
Wild project succeeds and you are paid 1
silver, you win get 800, but they viii I
90 or go or 40 cent dollars If you have
pension, that must be scaled down. If 20
have a bond, that goes down too.
Win the wage Garner be any better of
What you buy win go up. Win your wsg'
go up toof There you have experience
guide you. Wages during greenback time
measured In gold, did not go up as 9TH
things did. They went part way, but M
all the way mp, and were very slow aboV
that But wouldn't business be better Il
II more money! 10 might be after q terrib
crash with bad currency, and then v
would have to get book again. Brandy mi
seem 20 strengthen, but plain bread ar
meat arc the surest
What we want Is not moro money, bl
} more capital Money always comes vii
capital We have money now, more tha
: we can uss, lying idle. We have Just O
ported a lot Of it Money Is the transferr
Of capital, as a hayrack and horse Is
! transferrer of hay. More hayracks w
; never make more hay, but moro hay W
require more hayracks and is sure to &
them
A LOOK at the Past.
II sell you my house In Portland
mortgage it for $4,000 and send the resi-
TO q Washington state coal mine and 1t
spent and comes back TO Casco bank, n
%, 600 worth OF capital Is In Washingt.
Just the same. What this whole count
needs Is capital from abroad, from {
7 whole world expect some OF you W
be surprised and ask whether the world
the United States is not immense a.
sufficient Immense, yes; sufficient no
q Our capital Is great, but the Omit
: States Is very much greater. There a
millions Of square miles and 76, 000, o
: Of people and undeveloped riches witho
Otint But there IL not capital enough
keep "a. 1000, 900 Of people at work VIII
are We the most prosperous9 It Is VIII
r the 7B, 000, 900 are all at work, and VIII
that happens we borrow Of the rest Of I
; world thousands Of millions Of dolla,
q Let Lac give you one plain nrc-,t II the Il