The times. [volume] (Richmond, Va.) 1890-1903, 1897-03-10
WEDNESDAY, MARCH 10. 1891


Editor OF The Times: ,-,,o..-
sir.-Min you kindly answer the ioiio"
ing question. ,.o,d and silver
rsoilated by the supply ana ueH''"u Va
these metals! ..o,, Of eilvor
Did not the demonstration ol siNe'
~ lessen the demand for siNeI anu -,
crease that for gold that lhe la,'0.
,.arseouence. is much more valuable IMAM
- and has not this added proportion
.il, IN our debts and taxes. and ulilii
"a a. nrices Of labor products, ana cum
seaucntly OF labor wages - .,,,.or
. Wonld not the domonetizauo h u SiIe ~
.n,roximate or equalize the Value vi 80
"a oliver as was the case ioI 49,
snu ,',,ndrea years before silver's deihanu
So destroyod by its demoheu""'0i 40
1873? lila, more honest
than a 80 cents silver no'idi' ~ ia and
e,.',ros tho respective demands OF so'" 60
Is',, nos fixed the prices Of those he'"'S'
t,'N ..,,',lv boing nearly the same! .c-o
~ W. not the dollar previous 10 Io's'
= ia and silver were freely colneu,
- when there was an equai uolho"" w.
III moro nearly honest, thdn
air. since that period. when IeElsl'. ' ~
So.,rovod near half the value OF si'N'i ~
- losscncd demand for II! ,. &, .bo
g If there is not gold ehouEn -. -
world 10 redeem bank or lreasuln .o ,,J
estate or nationnO, that inou'" -. 90
o,,on,,ties sufficient for the business %
~ lid will not those notes. 20 great
,ort hocome irredeemahlc nat money
,,,a dcnrociote i'm value. accordingly even
more IMAM r
Cbarlottesvnle. Va. March c. 1897.
To, nc saw M once 10 our correspondent
,,ot no must rid his mind absolutely
., all this humbuegery about an "hoh'7t
dollar" A dollar Is neither honest nor
dishonest. It IS dollar and that IS
,u Al this time. 2S22 grains OF cod
Fashioned into n certain shape and stamp
ea nv the government as containing i'at
nmount OF gold is our dollar. Anything
,is. chat required for its production as
much labor as 1922 grains OF go'd re-
oulres and IS in as much demand as 90
,.rains Of gold would answer just as wei
for n dollar. But. in order 10 40 - u
must. imperatively. require as much 'apor
Tor its production and it must be IN
.,st ne much demand. There is another
principle also to be considered along WIN
This ANYTHING at all will answer oil
The purposes OF a dollar, though WORTH
less in itself. If It Is at all times con-
,ortible with a dollar. In this way our
silver dollars and our paper dollars per-
FORM all the functions OF real dollars al
though the silver dollar is worth only
0fty cents and the paper dollar IS worth
possibly less than one-tenth Of cent.
put both are convertible AZ Will into
dollars and therefore each performs per-
fectlv well every function of dollar.
But II is obvious that whenever gov
eminent puts out those nominal dollars
that are not real dollars. IL it would keep
them always up to the value Of dollar
81 must keep itself always prepared TO
give real dollars for them upon demand.
and. that being SO II must put limit
upon the number Of them that II puts
out. II It puts out so many of them that
Il is unable to give real dollars for all OF
them that are brought 10 il, the over
valued dollars will have to travel upon
their own merits only and they viii fall
TO their actual value. But II it puts out
no more Of them than II can take care OF
when real dollars. are demanded. the
overvalued dollars viii proform all the
functions OF the real dollars Just as
well as real dollars. We see this in our
subsidiary silver coinage halves. quarters.
etc Two half dollars contain three or
four cents worth OF silver less than a
silver dollar, yet two halves DO all ;hat a
sijver dollar Will do. why? Because
the government recognizes and treats
ihose two halves in all of It's transactions
ms being Just as valuable as gold dol
lar. and while the number OF the halves
O. small enough 20 enable the government
,o do this the two halves Will answer the
nurposes Of dollar just as well as the
cold dollar will The same principle Is
what Keeps the silver dollar performing
the functions Of dollar. 1t is really
worth but nifty cents. But the ro'crn-
men, treats Il as real dollar In ali OF It's
transactions. which is the same thu & as
Giving a real dollar for Il and this keeps q
,,ons which is the same thing rs CIV
ing real dollar for II and this Keeps l:
nm 10 the value OF real dollar
II IL all humbuggery. Therefore. 10 talk