Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-08-13
STEWART TALKS on SILVER.
He Believes That wheat May hise
to n Dollar.
(NcM York Tlmes.)

campaign In wall street, anu S"'"
! terday that he had heard so much ABOUT
better times that he has determined 10
"gather IN part OF the prosperity
which is not only RAMPANT in the s~ee'
| but throughout the land"
When asked by a reporter wnat iau
brought about change in MS 'ie"s'
he said: -,,,,,, ~
this country. No one can be Dear
! I'm tho face Of the wheat famine III
Argentina, Russia, Hungary, ana mona,
In view Of this condition ABROAD
should not be surprised to sec silver sen
as low as % cents and wheat as nlsh
as 81. There is nothing In talking sn'er
az the present time. and my advice 10
my friends in the West Is 10 ran INTO
line with the forces OF prosperity ana
progress, and receive their due snare Oh
the reward.
THE time has passed for the old Is
sues. We must turn TO face new Is
sues and new conditions.
Il frequently hear IL said that TINS
security market is a duplicate or the
market In 1879. 1t is not. 1t Is more
Of a bull market. All a man has to do
Is to get into it-go TO sleep and get
rich. The wheat situation in the west
will make every railway, not only Ill
vidend Garner, but DIVIDEND payer
Railroads that have been moribund Tor
years are now taxed to Their fuliest
CAPACITY. and are still unable to accom-
modate the traffic. l am told that there
is imminent danger of a car famine on
many of the most important lines ira
Yersing this country"
Are the people in the West alive 10
this new situationg'
THE people in the West" he REPLIED
"are wide-awake They know good
thing when they see it. Most OF them are
hanging on to their cereals with conf
dence born of hope and an actual know
ledge of what is going On around them.
with their immense crops they VIII be
able not only to liQuidate their indebted
ness 10 the money sharks OF the East,
but will inaugurate a buying movement
that will surprise the people in this part
of the country. l think that by the late
fall the truth OF what l said and re-
iterated during the campaign will be
generally recognized, and that is that
there can be no general prosperity In
this country that is not born and sus-
tanned in the West"
JONES. OF NEVADA.
Senator John p. Jones Of Nevada, who
is spending a short vacation in this CITY,
said yesterday that the continued fall in
the price Of silver ought not to surprise
any one.
silver is falling in commercial price
he said, because Of the falling of or the
demand for 1t as money. Japan has gone
on a gold basis. and so lessened tho de-
mand for silver. Besides this, there mas
been because of universal hard times. a
great falling off in purchases in the EAST
ell
and our purchases are paid for in that
metal This demand has been cut OH Dy
reason of the hard times"
Would not the increase In gold pro-
duction in Canada and Alaska naturally
tend to raise the price of silver?'
II think not. Even If IT did the ad-
vance would be inappreciable. while the
decrease due TO the two causes l have
mentioned would more than counter
balance any slight possible advance ana
continue to force silver lower and lower
However there will be no general adj
vance in prices. In 1919, when the mines
of California and Australia trebled the
worlds supply of gold, the advance in
general prices was only Is per cent. IN
fifteen years. That advance, small ana
gradual as it was, was universal bene-
faction. The only thing that can advance
the price of a money metal is the demand
for the metal for its use as money. III
gold were not used as money the present
stock would be sufficient for all the uses
in the arts and in commerce for nifty
years.
you will infer" said Mr. Jones, that
I am not opposed TO prosperity through
an increase in gold. The Republicans
are very lucky, and ] congratulate them
on the fact that this great discovery falls
within their administration. l believe
great deal of gold will be found In
Alaska, and II Is certain to restore pros
perity. for which the Republicans will
claim and receive the credit. 1 shall well
come its return, whether through gold
or silver An abundance OF money means
prosperity, and l want TO see good times
in this country come as result OF good
times elsewhere. Much glorihcation and
congra tulation is heard over the fact that
our western wheat is going up TO 81
bushcl because of the famines in Argen-
tina Russia. India. and In other coun-
tries. I do not like to think that our
prosperity is founded upon restitution
and starvation in foreign nations. l want
to see a food OF money turn the Idle
mill wheels and irrigate the waste places
OF our land.
Another result that will flow from an
abundance of money, be It silver or gold,
will be the allegiance Of this hatred OF
| the trusts. cherish no emnity toward
| the combinations Of capital. If two or
| three men want 10 combine for the pur-
pose Of lettering their business by less
ening production, they have a right TO do
So But the people hate trusts, and only
| prosperity will drive monopolies out OF
| their minds. Plenty Of money VIII also
crush cut the trusts. They flourish only
| In hard times.
81 have been tainted with being OBJ
posed to an honest dollar believe in
an honest dollar as strongly as any man;
but l consider that only one dollar can
be honest, and that Is a dollar which de-
mands no more and no less sacrifice TO
secure 1t at the maturity OF debt than
| II demanded when the debt was con-
J tracted. Some people pretend to think l
want 'assignats' and 'mandats, or nat
money. l want as good money as any
body"
Senator Jones said that the miners In
| Nevada are abandoning their silver
mines and are prospecting for gold.
Many OF them. he said. are meeting win
success. and It is probable that good
quantity OF gold Will soon be produced
IN that State.