Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-06-18
THE BIG BOND ISSUE.
Something About Free silver ana
Volunteer Soldiers.
Richmond, Va. June II, 1898.

Richmond, va, June ii, $780,
To the Editor of the Dispatch:
The Senate yesterday voted a big issue
OF bonds-s3OO,OO OOO-and threw a sop
to Wolcott. Teller, and few other Re
publicans. who are posing as free-sil-
yer men, by incorporating a provision TO
coin 100000 of silver bullion per month.
1t also declares that this action does
not commit the country to the gold
standard. II will be observed that there
is no provision To issue the bonds when
needed. They are to be sold at once,
| but the silver money is TO be issued in
small quantities each month until the
/ bond syndicate is ready to call a halt.
/ There is no certainty that this coinage
| will last three months. The only GER
/ tain thing is that the bond syndicate
! which bought the election is to be relm-
| bursed in the shape of an immense issue
| OF non-taxable bonds, and by the same
| takers the national banking system Is
| TO be perpetuated.
In the revenue bill you will notice that
| everything was taxed that the Supreme
| Court decision left, showing that the
| Chicago platform grows daily in favor
with the people. The politicians who
| assailed it in 1896 are now coming to APP
prove first one plank and then another.
| The legislation of the future, when the
| trusts quit debating it, will be along
the lines Of that platform.
Senator Foraker and Ex-Secretary
Eoudinot are the latest public men to
| affirm their belief in the righteousness
of the demands for an income-tax and
the constitutionality thereof 'even
though the general condition of the coun-
try should be a condition of peace" In
regard to silver, let us remember that
when we do business with foreigners
we must have respect for their opinions
as well as for their rights, as we must
leave the goods Of the merchant In
his possession, unless we are willing to
nav his price. We have often been
told that the Mexican dollar mas more
silver than ours, but will purchase less.
In this all agree, though the cause
threatens TO divide US into different
schools of thought forever.
Let the argument go-it Is the pur-
nose of this article TO deal only with
curious fact and the obvious deductions
from it. At the Philippines silver is
stlu a money metal a substance valua-
BILE for itself. and not because it may be
converted into or exchanged for some-
thing else. Therefore, the business
men and natives of our new possessions
prefer a Mexican TO an American dol
lar. for the simple reason that II Is
bigger and heavier Can we make
profit out Of this conception? If we
can. we may easily draw a lesson for
our own guidance, for the moral Is
ohyicIs. even if this be a fact and not
a fable General Merritt will take with
him to our Deweyland 10000 Mexican
silver dollars, for which we paid 1l1,VO
OF ours-in gold. greenbacks, or silver.
The Mexican banks cared nothing LOT
they are all one. At Manila these VIII
buy $3.50 900 worth OF supplies for our
feet and army, and we shaI save the
tidv little fortune OF Sl35,000 on trans
action based on nothing but the differ
once I'm the financial views of our peo-
nle and those which prevail on the other
aide az the globe Could there be a
clearer obiect-lesson? The soldier or
sailor who expects to spend his wages
out there will draw his pay in Mexican
dollars because they will buy more IN
that place than ours, but If he wants
IN send money back 10 mis- family ne
viii prefer greenbacks TO save his Wife
or mother from serious loss. The Mexl-
can dollars swims by its own strength
ours floats on our credit. Credit Is al
ways tickle. uncertain. and coy ana IN
order 10 preserve credit the properly
of the masses has been trampled upon
and DESTROYED by this car OF Jugger-
naut These fnanciers call themselves
statesmen. but, upon examination, would
in nv judgment. be found disquallhed Tor
ANYTHING except for the signal-serVice
in the Windward Passage.
And there is quiet war going on
too. against our raw volunteers IN the
interest of the regular army that Is very
apparent to me. There is a great de-
Sire upon the part of some people 10
have a large standing army, 10 which
I am unalterably opposed. why SIR
II has been pleaded with truth that every
modern war has brought new engines ana
principles into play! AT cressy ana
aeincourf to pit the arrow against the
lance OF the mailed knight was as ne"