Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-08-18

the present silver dollar: which Is an as
sumption not sustained by any ar6u
r,ert ard t. contradicted by the facts OF
history and of experience.
one OF the safest rules In finance -
that like causes produce Ike results
What has been H. the thing mat VIII oe'
10 cannot be disputed that for more than
DO years silver and gold. having equal
privileges at the minis and equal lesdt-
tender power. were maintain n at
parity. even though al times inc reia-
tive production Of the two metals varied
very greatly. Thus In the period from
1850 to 1890 the production or SILVER 10
gold was as 40 to i; and yet thetc was
no disturbance Of the commercial rato'
nobody saw or heard OF a 55-cent dollar
The rate OF production Of the two metals
FOR the whole Of the twenty-three years
since 1873 Is Is IL ounces OF SILVER 10 one
Of gold, which Is a complete contradlc-
ton OF the oft-repeated statement tndt
the production OF silver has vastly IN o
creased since 1873. In fact, there mas
been no such increase; the treasury
figures are s.. 267. lS7 fine ounces In 1913,
and ia, 1896 SO fine ounces in 1879. inc
truth rs. that nothing has occurred TO
cheaper the price Of silver except the
hostile action Of the governments Ana
Of silver which has caused the decline III
prices, why is IL that although the pro-
ductlon OF gold increased from Sjo,2p'W
IN 1879 TO $203.0O0O00 in 1890 the price
its exchange value has not declined,
but has steadily increased each year,
Now. II silver is restored 10 its place
az money. is there any reason to suppose
that It cannot be kept at a parity with
gold? Your correspondent must remem-
Der that the difference in the CONNER
clal value Of the two metals now Is
under conditions IN which one is COM
modify and the other has added 10 II
coinage value; indeed, the value Whlch
belongs to the only money of redemption.
what would gold be worth If you look
away from it tomorrow the right or
free-coinage and legal-tender power?
When Mr. jefferson said in 1872 that
we must enquire into the market prices
OF gold and silver in the several coun-
tries with which we are principally con-
nected in commerce. and take an average
from them in ascertaining the ratio, the
two metals were enjoying equal privileges
AT the mints Of those countries, and the
ratio was fixed to- 10 TO /. The gold REQ
pie forget this fact when they say that
the present. ratio is something Ike 81 10 4
and ridicule the idea of 10 To l.
Nor must your correspondent be
frightened at the alleged flood Of silver
which, IL is said. will pour into our
mints. II he viii read Mr.. Bryan's
speech ne will see why that cannot
happen; but even if il could happen, let
him remember that the foreigner who
brings his silver here to be coined would
either have - take II away with him,
or leave II here in exchange for some
thing which We had to sell to him, ana
We should be CAD 10 deal with him III
that way.
Your correspondent need not expect o.
see any new standard" when free coin
axe is established. What he viii see
will be cessation OF this ruinous fall
Of prices which has made profitable enter
prise impossible. paralyZed industry, and
thrown labor out Of employment
As 10 the second question, your CORES
pondent may be sure that when we shall
have given free coinage a fair trial there
will be no return 10 the single god stand
ard.