The times. [volume] (Richmond, Va.) 1890-1903, 1897-09-10
SENATOR DANIEL on PRESENT CON-
DITIONS.


countries. due to crop failures there The
low price Of silver bullion is manifestiy
due TO the decreased demand, due to the
,aoeresslve closing Of the minis to It's
coinage"
very few persons We imagine will DIFF
FER from Senator Daniel In his estimate
n the cause for the high price Of wheat
and II. I'm referring 10 silver. DE had stop
ned al the statement that It's low price
was que TO the decreased demand for H.
we don't believe a sensible man in the
world would have differed with him about
that either.
II is when he adds that the decreased
demand for silver is due 10 the progress
sive closing Of the minis 10 It's coinage
that we ind out that the Senator is mis-
taken. A man who thinks that tho
government can. by stamping the word
dollar" upon 81 IA grains Of silver
make them as valuable as 742 l-2 grains
Of silver or as valuable as 1872 grains OF
gold. may also think that the closing
OF the minis 10 the coinage OF silver Is
what has caused silver TO lose its place
in the estimation Of men. But the man
who understands that the value OF
everything depends upon the supply Of IT
and the needs men have for il. viii not
listen 10 any talk about silver having
lost its value because the civilized coun-
tries Of the world have made their minis
stop putting out 81 IA grains Of silver
upon mankind with a stamp on it certi-
tying that it is as valuable as 742 ID
grains Of 81 are.
We have heard a great deal about this
mint demand for silver from the free
coiners. including Mr.. William j. Bryan,
but we have never known but one OF
them TO attempt an explanation Of what
is meant by II. The one who attempted
it is that gallant author OF COINS FL
nancial School" This gentleman's cour-
age is equal 10 any enterprise that may
be proposed. lie had as soon attack the
proposition that twice two make four
as any other. and nothing would give him
greater pleasure than to demonstrate
that water prefers TO run uphill. "Coin"
boldly asserted and satisfied himself
that open mints made that demand for
silver so imperatively required by the
law of supply and demand, because as
long as they were open they made an
unsatisned nav sun calling. like the
daughter Of the horse leoch. for more.
lie never did tell us what would become
Of the silver dollars after the mint had
coined them and how he was going 10
set up a demand for them that would
take them away from the mint after they
were coined.
If Senator Daniel approves OF COINS"
definition Of the mint demand for silver.
then we can understand what he means
by the low price of silver bullion being
due to the decreased demand caused by
the progressive closing OF the mints.
otherwise we are utterly unable TO under
stand what he means
Senator Daniel says III the prohibition
Of silver coinage were followed by the
prohibition Of the use Of silver in the
arts. the bullion would become worth
less.
Human laws can be made very vexa-
tous. but whenever IL is attempted 10
oppose a human law 20 one Of the laws
OF nature. the human Jaw always comes
out second best in the contest II was
very humorous I'm the member OF Con-
gress to move as am amendment TO one
Of the foolish measures usually consider
ed there, that while il remained in force
the laws Of gravitation should be sus-
pended. But the amendment was out OF
place. The law Of gravitation attends TO
its own case and It would have gone on
in IT'S usual course whether Congress pass
cd rs foolish act or whether Il did not.
During the war between Virginia and
her creditors over the tax receivable
coupons, the Legislature OF Virginia
passed act after act that was IN oppo-
siton 20 common sense and the most
elementary rights Of men. with heavy
penalties attached 10 each. but people
paid no more regard % them than II they
had never been enacted. and went on
with their usual course Of business. VIC
laung them every hour, and without the
slightest influence flowing from them.
This would be the case II Congress
should prohibit men from using silver in
the arts The act would have no more
effect than water has on a ducks back.
Silver would continue 10 be used by
those who want silver ornamentauon
just as much as II is now, and while the
act would make a slight furry for a time.
in a very short time men would settle
down TO their usual course in life. and
the demand for silver would be exactly
what it would have been II no such act
had been passed. The laws OF man are
strong. but the laws OF God are stronger.
The value OF silver. like the value OF
everything else depends upon the supply
of 10 and the demand for 1t. and human
laws may temporarily embarass the ac-
ton Of that great economic law, but they
can have no permanent influence upon
10.
We must say that we are surprised 10
see Major Daniel holding on 10 these
wretched and exploded theories. He
Is man Of talent, and there
is no excuse fer his not un-
Outstanding them now when he sees that
business is reviving and that there Is an
abundance OF money for whatever de-
mand business may make for IT,
The Meckenburg News has issued a