The times. [volume] (Richmond, Va.) 1890-1903, 1899-01-15
SUNDAY. JANUARY 10, 1899.
eAss III. BUT 1T VIII NOT COUNT.


/. a day or so back Hon. Lyman J. Gage,
Secretary OF the Treasury. was before
frhe House Committee on Coinage,
weights and Measures in obedience 10
rsts request Tor his views upon certain
.snatters. and I'm answer TO questions as
so the proprioty Of passing a bin TO de-
ftine and fix tho standard Of value. and
.tarucularly what its effect would be as
related 10 the flow OF foreign capital 20
this country. he said:
II think this flow is now restricted by
the fear, more or less marked. of a
change in our standard. IL would re-
snove mat fear and would take away
that obstruction. which is considerable
10 the flow OF capital from other coun-
hries here. IL would go further than
Hhat IL would satisfy the minds OF
capitalists at home that we had reached
definitely and finally an absolute condi-
ton of our monetary affairs as relating
no the government, and those who are
waiting and doubtinr-and there are
thousands and thousands Of them-would
have that obstruction removed from their
enterprise"
The Times is the last party in the
world TO raise objection TO Congress en-
netting any legislation whatever that will
tend to give the world complete assur-
snce that our standard Of value is the
gold dollar containing o $40 grains OF
gold. nine-tenths fine, and that # viii
Nemain exactly that. world without end
neither more nor less by one GOT or ono
1ittle. Upon that foundation has all our
mealth and prosperity been built and
upon that foundation will the further
tnconceivable growth OF wealth that we
are TO fall heir TO be built No mechanic
could build any house. great or small.
without the inch measure as his starting
point. and 81 be should commence the
Smallest howell with the inch measure
what IL IS. while some one without his
knowledge reduced 30 an eighth. his
howell would fall down after he got fl
erected. Per contra. IL his inch measure
e. kept exactly the same az an times
ho can erect the dome OF ST. Peters
with absolute confidence that it will rear
its head plumb ard true-to defy the
storms and nod in complacency at earth
uuakes themselves.
The dollar-tho standard Of value-oc-
cupies the same relation TO trade and
finance that the inch measure does TO
iho mechanics work. Preserve your
standard OF value absolutely and always
the same and commerce with its ex-
changes. will furnish AN the money that
any number OF people can by any pos
ali.
fraction from IT'S edge and exchange
halts In dismav The check for dollars
becomes uncertain about what b. viii re-
ceive, exchange refuses 90 perform its
work. confusion enters where certainty
had been and more money will disappear
On the tWinkling OF an eye than an the
snints Of the world could coin out of
mountains OF silver in a hundred years.
uhe fabric erected instod OF being the
home OF ST. Peters. becomes the leaning
tower OF Pisa, and instead OF standing
Through ages a thing Of joy and beauty
Forever, II tumblcs down in The dirt-a !
monument 20 ignorance and fanatcism.
The interest we take In this subject !
the standard Of value-has led Us of |
from what we started out TO say. and I
vet what We have said is far more i'm, !
portant than anything else We could say. |
scor the influence OF a standard OF value |
sspon a countrys business is not al all |
understood. and yet 1t is the essential /
thing TO be understood. 1t lies at the |
foundation Of everything Ia the way OF /
Business and prosperity. Preserve the /
standard OF value inviolate and there is 4
no limitation whatever upon wealth and 4
prosperity. Tamper with the standard Of /
value as a falsely valued silver dollar /
would. and wealth ike that OF the Ara
blan Nights will vanish into thin air.
We have only left ourselves space |
enough 10 say that we hope Congress 1
will pass the bill that Mr.. Gage wants |
passed. and any other bill that tends
no satisfy tho world that we will never
set our standard Of yalue--the gold dol
xar-be interfered with. But such meas
ures are unnecessary. The fact was cs-
'sabiished IN 1873 when Congress pro
~1ded that tho dollar should be the gold
dollar. and further legislation is only
Milling Pelion on Ossa. The thing was
Than sono. the business OF the country
~ adapted Itself 10 H. and q would b