The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-08-18
Matters Relating to the Men and the
Issues Iof the Campaign.
FACTS NOTED AND COMMENTS MADE
The Speech of Hop. w. r. ST. John Mt
the ST. Louis silver Convention,
Nepubifshed af tho Request of a
Reader-Campnign Clippings Re-
ferring 10 Many Political Topics.
tRepublished by request.)

To the Editor of the Virginian
| | have been informed by silver advo-
| Gates that the speech by Mr.. st. John
at Chicago Is ooe of the ablest argu-
| ments yet advanced In favor of free
| coinage of silver. AS many of your read
erS are now seeking light l am sure a
reprint would be appreciated.
SEEKER
At the outset Mr. ST. John captured
the delegates by interpolating a state
| ment that he would speak from u bank
ers standpoint, and that If he were ad-
dressing gathering of bankers he
would use no different terms He said:
Sehtlemen of the Convention-The
skill ana efficiency of your Ia bors in the
past nave been rewarded by the adop-
tion oil your demand for legislation by
Two great organizations of the people,
namely: The Democracy and the PEG
PIES party. If now you are able to in
duce a coalition of these two organiza-
toms Tor the one purpose, the desired
achievement on behalf of the people
VIII ensue.
Assuming then that you will prevail
upon those patriots calling themselves
the Peoples party to endorse the nomi-
nation OF Bryan and Sewall, it is ad-
NlSapie 10 warrant the desira bllfty of
the end in view
1t is among the first nr,ncin,a- ar
finance that the value of each dollar.
expressed In prices, depends upon the
Iotal number of dollars in circulation
me plane of prices is high when the
nun. Der OF dollars in circulation Is great
III proportion to the number OF things
TO be exchanged by means OF dollars
ana low when the dollars are proportion-
ately rev. The plan of prices Az present
ana Tor some time past is and has been
ruinously low. The increase of our non
ulation at about two millions a year
scattered over our immense territory
calls Tor increasing exchanges and tbara
pg demands an Increasing number of
uoiiari in circulation. The increase in
the NUM- Der of dollars when dollars are
eohIneu TO gold Is not sufficiently rapid
10 meet the growth of our EXCHANGES
ne consequence Is n growing value of
uoiiars and diminishing value of every
thlng else expressed in dollars. which /.
10 say tendency toward constantly
declining prices ~
me fountain head of our prosperity
nus run d!y. Our farmers all over the
country have endured the depression In
piiee& until they get about IS or 50 per
acre, for an expenditure of $40 ner .rra
and the like Their credit is exhausted
d. thelr country stores. The country
store ceases 10 order from tba 49,,
merchant the city merchan MT reduces ~,
demand upon the manufactures. Man
uiactures are curtailed The consa
quence IS that employees and all oIe-
nienls OF labor are being discharged.
anu wages are lowered to those who con,
tinue IN employment. The sufferings
or the farmers, who constItnte nann1.
ohe-hair or our population Is thus an.
lorceu upon the city merchant the man
ulacturer and all forms of la Dor Tha"o
eutnp lned elements constitute the over
t~ a,i,is majority OF voters. Their in
leHlSent conclusion will be w,ha,,
expressed nj the polls "ieh
80 ne banker IS also without prosperitv
prosperity Is general throuphomt
sir ohlteu states. He must learn IN
t,,ona,. uish between cheap money and
ao eN commanding low rate of inter-
est. The dollar worth two bushels nf
wneat is dear dollar, and yet il com.
lnahus interest in Wall street ot nras-
EN- OF but 2 per cent. per annum on
snoi.it the dollar can be cheapened bv
increasing the number of dollars so Thai
each dollar will buy less wheat the IN.
SreaslhG price of wheat will Increase the
demand for dollars to invest in its nrn-
uuGIioh. Then the borrowers of dollars
~ invest IN the production of wheat. be-
aS icasonaDIy certain of a profit from
ahat employment Of the money can n fford
| 10 paw interest for its use as a part Of his
proht. In other words, interest is n
siare OF the profit on the employment Of
raon;,,, 90 that ABUNDANT money. money
rsaaliV obtainable. which is to say, really
cheap money, is the money which com.
Inands high rate Of interest. as a share
Oh the profit of the borrower in using il
| we appeal TO the country In the
'ustlce OF our cause one or two points
OF common inquiry must be satisfied, as
The experience of Mexico IS held I'm for
our alarm. We answer, first, that Next
go IS consciously prosperous at home.
| t1er increase In manufactures, RAILWAY
earnings and the like in recent years is
phenomenal; second. Mexico is no critic
ron 1or the United States, for the reason
| maj she mas foreign trade indebted
ness OF about S20.000000 annually in ex-
cess OF the value of her exports OF cot
| toh' sugar. coffee, hides and the like.
when must be paid for in the surplus
Drouuct OF her mines. Her silver, there
lore. goes abroad as merchandise and al
d VaIuation liked by the outside world
me Chted states, on the other hand is
nation OF 100000 of people. scattered
oyer territory eighteen times the area
oL france single one of our railway
sSStems-the Erie-enceeds the aggregate
IaiiWay mileage Of Mexico. We offer an
empioNment Tor money to an aggregate
greater than the worlds spare silver viii
iu!hlsh us Hence, our silver money, a,
nome and abroad. will be valued as the
money OF the United States.
Inc opposition threatens us with n
hood of Europe's silver upon our re-
lopened minis We answer. Europe has
no silver but silver money. Her silver
money values at from to cents on the
dollar h gher than ours Hence, the Eu-
ropean banker or merchant must sacri-
nee from TO Z cents of his full legal
lenuef money in order to recon II at our
mlnts Europe's silverware, like Ameri-
Cd ) SlIVtrKaTp. carries IN Z fha aJdi