The times. [volume] (Richmond, Va.) 1890-1903, 1898-06-18
SATURDAY. JUNE 49, 1885,


We were little too pI'Fi'"'' WI
,n announcing the other day th"l inc
Norfolk Virgiuian and Pilot was saV'u'
We did not then know what am lncorI's'-
,la sinner it was. Since then it has h''
aciiverance upon its foundation iaiih
and that dcHvcunce shows we l''''
,bat ~ is past redemption 10 Is Hiin
believer I'm the simon Pure Iopuls' uo'-
.r,,e that the value of money roco,o'
from law and We fear all of our he''-
,ines are thrown away upon that sort OF
"a patient. Between one Who believes
thai money has its own value ana ono
who bcnovcs that tine value of money
comes out of an act OF Congress. ileie
is mo- common ground for arsumentadno
disrussion between them is nothing but
,dls chatter. 1t is like q Frcnchman who
can sneak no Chinese talking TO emma
man who can speak no frehc"' '''
more they talk to each other inc i'''
4hev Understand each other
We are going 90 make one more 'No'''
however. and if that fails. we are gong
IN leave tho Norfolk NirginIan and fllo'
10 bur it's faith ass long as it. likes ll'
In ms issue of June lith the N"gin!'h
and Pilot. reviewing one of The Iiines
articles says:
Tho Times will not. or cannot see mat
gold itself receives its value chlt.4 ~ 'li
is moncy-quanty, and tndt lAeie.'
,,o,e, itself must Doe the real standard
az value. Here are gold ana SILVER com
and "a Treasury loeal-ttnuef hol'' 81"
money. A.. B. and &. sell tneF Clop7'
,d receive therefor checks payable h
dollars-so many dollars. A. mas nus
check cashed in gold. 49, ms DID ahN'I
and a. takes the legal-tenders. Now, ac-
cordine 10 the argument, or houoh'
rather of The Times. =. is the only one
1,,ho has received real and fun value laJ
narket-rates) for his crop; i. mas ac-
cepted a lot of silver metal worm on,y
onc-half the gold received uy A. ".l'!c
4. poor victim OF ignorance ana Io"y y
has only some worthless pieces OF oiu
paper -,,..o.
But what is the fact? The gold silver
and parer are am money. issued 10y the
same government and In their purchases
in tho city before going home together
A. finds that Dee can buy no more nor al
a less rate. with his gold dollar IMAM d.
can with his silver dollar While e. uH-
hardened with the wcight of either metal
bae mo- dificultv at am in exchanging
his paper dollars FOR the same quantity OF
any supplies which A. end B. receive Tor
their respective metal dollars.
That IS all perfectly true, but the roa-
SON tho man with the silver and the
rrecnback dollars can buy as much as
the man with the gold dollar is that the
government redcems both with sold doll
lars so that they are practically gold doll
lars. When the government did rot re-
Deem eroenbacks with gold We saw q time
when one gold dollar would buy Us much
as three greenback dollars. and If the
government did not now receive the Sill
Yer dollars in payment of gold dollars
due in taxes the gold dollar would now
buv more than two silver dollars would
The Times faith, and the faith that
Is steadily marching along 20 Che conquest
OF the world. is. that money las IT'S own
value with which law has nothing what
ever 20 do.
The Times idea IS that the value Of
everything. except those things like tho
air. water. the heritage &C., TO which ma
lure has given o. value, depends upon The
ldNOE U'NhFFaie az it'NA'N' Atf 4i'-'
chosoa 10 say that 1922 grains OF gold
shall constitute dollar. Now if 30 takes
the same labor 10 produce 1922 grains OF
gold a. 81 takes TO produce a bushel OF
wheat. there being a demand FOR both,
then We say that q bushel Of wheat is
worth a dollar. II So takes only half that
labor to produce bushel of corn then
we say two bushels of corn are worth a
dollar Tho same is true az silver we
etarted out O hundred years ago saying
s7l Ia grains of silver should bo "A dollar
A. that time there was great demand for
both gold ana silver. and Il was found
that Il took about the same labor Co. pro-
due %Zg grains % gold as st took 10
produce 81 IA grains of silver in conse-
oucnce OF which it was determined ia
make the silver dollar consist of 81 IA
grains and The gold dollar OF 1922. But
silver has been found in such abundance
and tho methods OF producing it have 50
improved that 81 takes only half the labor
20 produce 81 IL grains now as 10 took
one hundred yoam ago. We are not
rpeaking with exactnoss. OF course but
relatively since other thirgs have con.
tributod TO the face OF silver's value. no
tably the numerous increase Va the Us,
OF credits for tranSacti9g business, aris