The times. [volume] (Richmond, Va.) 1890-1903, 1897-06-30
shIns 10 .tv.r. .oa hss, Z hIs glaa.

THE Idea which r~'advocated In my let
ter 10 Colonel Fox vas 70 Issue Treasury
notes IN exchange FOR both gold and sii-
vce bullion at the Treasury Of the Unitef
States, at its commercial value, such value
to be determined by the market prices
At the leading centres Of trade on the
day OF receipt, the notes TO be redecmable
IN either gold or silver at the option OF
the II the commercial value
OF Tire metals on the day Of redemption.
Wa can SO frame the details OF such a
plan as to attract to the Treasury OF the
nation every grain OF the silver mined In
the United States that can be spared for
monetary purposes, until n last dollar
of paper currency now In use in this
country has been supplemented to Its full
face value by silver and gold
You may all this what you hke-per-
haps b~imetallism; the main Idea Is to
have q currency based on h precious
metaig which are held by the govern
ment, not necessarily coined. ] cannot
see wherein this can fall Of increasing
a demand for silver and diminishing the
demand for gold. Silver will go up. gold
will go down. Neither will the adoption
of this plan result In gold or silver mono
metaDism."
The trouble with Mr.. Bo,es Is this: He
has not yet recognized the impossibility
OF having d double standard. He Is still
caught by the delusive word "bimetal-
lism." He recognizes that gold Is the
standard Of value Of the commercial
world. n that any use Of silver must
be according TO the gold standard, Just
as copper, nickel and silver In the subsi-
diary coins to-day are used for minute
sub divisions Of the gold dollar, but az
Ways with gold as the standard Of value.
He has. however. not yet gotten Unto his
mind the fundamental truth that the
function of government In money mas-
tiers Is merely to stamp a certain number
OF grains OF metal with such marks as
will catlsfy the recipient OF the coin that 1t
contains so many grains of metal of a CIV
en- purity, and no more. This seems so plain
tina the political artifcer Is unwilling to
accept this truth in its simplicity, n
complicates what Is a subject SO clear
that the way-faring man, though a fool,
cannot err therein. with historical facts.
and imaginary fancies, and commercial
facilities based upon simple principles
until the mind Of the ordinary nan is
confused and embarrassed by all the
complexities of bimetallism. green backs.
irredeemable fiat money. warehouse re-
ceipts for agricultural products, and all
the follies which have been spun out Of
the Populist's brain.
Mr.. Boies can no more establish a ratio
between gold a I'd silver. than he can De-
tween gold and sugar beets. or rice, or
wheat. or any other product, and the
government will go into an as inextrica-
bic quagmire OF business difficulty, In I'M
dertaking to be the depositary OF silver,
as II would If 1t were the depositary of
copper. lead, tin or wheat. The plain
truth must be met, and recognized, n
submitted to, that gold is the standard
Of value which the financial and CONNER
ciaI nations of the world have adopted.
and that another can only be had by
common consent, and they can never
have but one. II, as appeared to be very
probable soon after the discovery of gold
in California, silver had been chosen. 1t
would no doubt have been just as enec-
tive. though more inconvenient on ac-
count of its greater bulk. Silver would
in some respects have been the wisest
choice of the two, because at that time
there were but two countries firmly upon
a gold acknowledgement and the United
..lno 4Ko ract ~ cha urnrl6
either had a silver standard. or was Vi
brating hesitatingly between silver and
gold: while Austria seriously c~ontemplat-
ed Accommodating gold. If silver had then
been chosen, it would probably have met
the requirements of a vastly greater
number OF people than gold. But 1t was
not, and since that time, and especially
since 1871, when Germany adopted a gold
standard there have been twenty-three
that have either adopted the
gold standard positively, or have sus-
pended the coinage of silver. 1t is too
late now for the world to go back to the
condi ions as they were forty years ago.
To die has been cast, and the United
States of all nations has least cause TO
complain. because for over sixty years
they have been. Of their own free will,
upon the gold standard. and the gold
standard alone, and all the violent de-
clarations and a~sserverations Of all the
Populists and Chicago Democrats cannot
obliterate the truth that this country de-
liberately adopted the gold standard, and
did 1t wisely.
To carry out Mr.. Boies' plan would in
volve the United States in a perpetual
brokerage business between gold and sill
yer, when the function of the government
is only to truly stamp the coins. and let
them go. and to recognize the fact that
the dealings of the people are upon a gold
basis and nothing else.
A COLORED MANS SENSIBLE TALK,