SENATOR DAVIS' VIEW.
o f "liver; and I want to »ay one thine
> >on that not one of these lir..fe»».,rl!
foreign UlllVeraitiea, not oue ot these
perhaps of capitalists, hoard and gather f WO or three years, and will probably will be struck down at a blow if the shal
tor the oppression o f mankind. Now let survive to take the new medicine in low projects of the Democratic aud Popu
me » all your attention to one fact. The abundance. But I say that they admit list platforms be realized.
But you have heard from our free
«o rli'w
i.n , " „ini
T * not
‘
fmii" ereat
«re free-coiners assert, when they are told themselves—any intelligent sjieaker upon
«o
in i »n|e,
one “ of "<• those
that the increased output of gold is going that subject admit* that the inevitable coinage friends her«* that «>tli**r nations
to tend very much and by natural pro- aud irresistible tendency and result of have done this. And there are many good
Democratic Platform Strikes “ ' V ' * 1" '•* " ¡ » Kl.hje.-t, no, one.53
cesses to solve this question, that from the free coinage of silver iu this coun- people who believe that Fratu*e is doing
I > ! •V *'.1''1" ! I,V ‘' "'lor» of the .....lei'll oiie-half to one-third o f the gold annually try will be to drive out the gold. Now it. un«l that the Latin uiii«>u—so-called—is
the Government's
I
.... *‘"l"ili»ni. ha» ventured produced in the world goes into tin* arts, let us see how they propose to obviate it. doing it. Now. 1 would like t«» know why
This statement is probably uu exaggera- It has always struck me that one of they can’ t tell the entire truth about this
Foundation.
t"i| "a h e Ilia I lash alone, i Applause. I tion. It is probable that oue-quarter of their most enlightened champions was matter. Let us n«»t de«^*ive ea«di * tn«»r
SI , ' 1 V' ;V"'SV"U ' V 11'"- »■'•* »»"tliinii ...ore; th»* gold of tin* world produced annually Mr. St. John of New York. Ho has been and let n«»bo«lv deceive us. Th«* L itiu
r.L ,. ";
" I"'” ', under- goes into the arts, and it has been doing largely and copiously quoted by them — union is com]Hiae«l of France. B*4gium.
'■' 1.0 file tree and ....limited ooinnao of »i|- it for centuries.
Consider for a mo- ne was president of n national bank and Italy. Switzerland and (»r«*e«*e. It was
BIM ET ALLISM .
!!
"> 'o IV I,\ few eri.-H meet, my fellow citizens, what an enor- | was president of the recent silver con- f«irni(‘d in 18*>5 by treaty between Uiose
..
and repeated cries of mous sum. enormous aggregate— three j volition at St. Louis and by the bill IKiwers. whereby each agree«! until , the
. l '*; * Now, see you gentlemen over billions, perhaps four billions, of dollars which he procured to be introduced in year 1880 to take th«* coins *>f the «*ther
he " «h o ,a|led "y e«." and you gen.... are lying in the shape o f golden orna- Congress and which bad the endorsement powers at the rati«» <»f 1 5 t«> 1.
Condition of Affairs Worse than War
But Germany demonetized silver: she
"
"
« > , - idled "no." »how» the nients. thousands of dollars of them i n ! 0' « e silver and Populist sentiment
1 "'"o o Ol oaiulon upon thi» »uhieot this room (»might. Now 1 want to ask , there, they promised to bridge over this had ceased to coin it. and so. in 1875.
Would Result from Dem
those great nations, headed h.v France
inuiihteri. mid to j ........
there who you this question, if there Is a g o ld fain-
>'»wnlng chasm which they themselves
(the t.*et
most scieutifi«»ally-gov«*rned country
enine (O listen to me. you will listen dis ¡lie. if the power of gold is so absolute
ocratic Success.
admitted would o|*eti beneath their
passionately you will diitoat my argil- and tyrannical as it is claimed, if its by l^um g mterest-bearing treasury notes in th«* world, and th«* one whieh has the
most
accurate financial ideas), I aay those
uents. and I hope tinallj tl.al by the possession iu the shais* of coin gives its .
* le .
•?
s<,,jnr‘‘d b.v deposits
inn- von have done so thoroughly that
»„. I, mv !i v
,l„. ,I,.»tiny ail,I <»f
.«ilvet- or «.,1,1 Im lion, nr kv countri«**. after <J«*nnany had «lenioue-
tizetl
silver in 187.*», limiteli their silver
" ill be inclined to shout “ no” with fnrt,„„.
In a 8pe«»ch delivered at St. Paul An- J
li. hmv ¡» ¡t L.V.1. i . °
1,1» f.-llmv ma
man.
Kuutlemen who responded when you that this enormous amount of gold, per sued or course for that purpos»*. Now let eoinage. a ml by 187*» they susnende«! it
gust 4. Senator C. K. Davis pointed out
They, those gtvat European
us look at this coolly and calmly and tig entirely.
haps one-third o f that which is in exist-
very clearly the fact that free silver is esponded. lUlieerilig and applause.)
•Now. let us I,,, entirely good-natured ence. has not shown th»* least symptom ure upon it a little, like men o f sense who nations—Frane«*, th«* strongest monetary
uot himctallism and showed what evil
nation in the world, with her allies—un
are
infinitely
interested
iu
this
matter
1 «in going to try to give .vet of g»»ing into the melting pot to be
results would follow Democratic suc II ,out
as one of business concern ami let us dertook with all their power to do pre
cess.
He
said i hat for the first .'oil tile facts, and I repeat it, tile issue turned into coin?
see how this project would work; wheth cisely what the fr«*«» «- o ì i u t s o f the Unit-
time since tin* election next preced is whether the United States shall ut-
But we hear a great deal about th»* de er it would not merely
e«I States are asking this gov«*rnment
ing the great Civil war. we are tonipt to do that thing alone, in the monetization of silver, and on»* would
to undertake in the light o f such con
required to guard the very founda hoc of the controlling fact that everv think to hear our free-eoiner friends <le- Skin anti film the ulcerous sore.
rank corruption mining all beneath spicuous failures of other nations.
tions and bulwarks o f national stability, « ivdjz. d coiiiincicial nation upon the fa«*«* elnim that silv**r had be»*n entirely «1«*- Whilst
Invariable Stamlaatls Needed.
Infects unseen.
of commercial honesty, of financial <«»n- "I the earth, except the Central Anier- nionetized, that by sum»* malign influ
W e have $(»20.000.000 of gold in the
Now. «»verybody admits—1 think the
duct.
The Democratic party which met ,' ,,n «ml Soirli Amenean states, years ence tin* mon«*y function o f silver
rampant
f ree-eoiner <l«»«*hiimer
at Chicago in convention in July suffered »go and belore we did abandoned it ut- throughout the world had been entirely United States. I think more. It would most
a wonderful chunge in that convention. »«•ily. And it I shall succeed in con- abrogated, aud it is a very catching disappear at once iu th»* face of free wm’lil admit—that th** m«tn«*y unit should
It has b**»*n a very catching silver coinage, or even the certainty of remain a* nearly invariabl«* as possible.
The old oracles and guides of the party 'lncjng any «»t our frifinls that we are phrase.
Let this election go Democratic- Now. I say gobi lias so remained. Sil
were rudely turned aside.
it was occu 1,01 in position to do it without inflicting assumption, for I will not call it an argu it.
Populist. let tin* American people record ver has fallen commercially lik«* other
pied and demoniacally possessed by a new iiptin the country and upon us all injuries ment.
Th«*y say sil-
Now. I say. my fellow citizens, that, their will that the coinage o f silver shall articles. This is delibai.
spirit—something which has not* raised which it will take a generation to re-
its head in the political conventions of pmr. I shall he more than rewarded pm M'l-ly 'Considering facts, that state- j bo free and unlimited, long before Mr. ver has not fallen, that gold has risen:
either party for thirty years.
If there lor the pains that 1 have taken, the ob ment is inaccurate, not to say untrue. 1 Bryan and his cohorts could place th»* Now, that is tin* way you look at it.
was any one thing which the 2,000.000 servations tint I have made, the studies assert that silv»*r has n»*ver br»*n demon- edict into tin* form o f law. the just finan- You can look at it through the «h»lu«liiig
of men win* wont out to defend this coun I have gone through and the reflections ••tized in th»* seÿse iu which that charge I ciai f»*ars of mankind, of people' here glass o f id<*alisni. an«! it may app«*ar that
try thirty years ago thought that tlicv which have hrotighl me to my present has b«*»*u mailt*. (Applause.) Demone- 1 in this audience and of p»*ople every- way. but it is an optical illusion. Now
tizsitton means to div<*st o f t standard ¡where, at home and abroad, would dfuw l«‘t me put an illustration from nature.
had entirely obliterated when they re convictions, i Applause.)
ialite as money, and I say this has not that gold from <*v»*rv vault wh»*r»*in it 'Fhe waters of I ake Superior, that great
turned. it was ibe malign doctrine of
Sluill We Co Itacr.ward or Forward?
been done with any dollar of silver coin lies protect»»d anil it would sink into the inland sea which floats so much o f our
state rights, which lay at the bottom
Shall
jvc.
for
our
own
interests
stand
that
was ever mmt«*d at any mint. (Ap- earth as the waters which earn»* down eoinmer«’«» ami is such an elenunit in our
and was the impetus o f the greatest
It is true that many nations f rom heaven last night. 1 sav if would pr«is|)crity. have for many y«*nrs been
rebellion which ever reared its head along with those nations with which we Pianse..
mive
classed
ourselves
an.I
who
arc
lead
who ha v.* approached the danger line of j disappear at one»*. This bill of Mr. St. falling, until now they are lower than
against a civilized government.
Co and
t!u\v have been at any time for fifty
behold, in that convention, from tin* ing the march of hainanily. or shall we which I spoke a few moments ago, when John so admits. and thaï di*app«»a rance y«*nrs. and everything on tln»ir surface
state o f South Carolina, as of yore, you go with Mexico, South America, China on»* nudai driv»*s out another, that many is tlio v»»ry ailmeut whieh lu* proposes has fallen.
The waters of Lak«* Supe-
find the declaration of the same state :nnl I a pa it. the rearward half of the nations have told the o w i u t h of silver to r»*medy. But in this universal ab- rior. lik«* th«* universal, spread-out plan«*
rights, in the same spirit as in the an great army ol human progress, and join which lay concealed in the earth we will seondiug of gold tln*r«» wouhl b«» no goUI of humanity, hearing everything upon its
not
longer
buy
it
at
a
certain
ratio
and
those
imp*rlcct
and
rudimentary
civiliza
cient time, and done in a connection, my
a certain price. Even that has not bullion to deposit. peuple would not take surface—tlios«* waters b«»ar tin* fleets,
fellow citizens, which must appeal to the tions, which arc an occular demonstra at
.... ....... .
,1,.,,,.. ,,„.1 I r,'|n'iit m y l " out o f h,,1
, i-xchKiyte it for any v«»ssels anil craft of all kinds, and ves
resentment and repugnance o f every lib tion that no nation ever undertook alone »tin..... in that tin- "»»irtio n that »ilv.'i
,V°,'py « ' oih - v it ,,t the Boreiu- sels and « raft and fl«*«*ts o f all kinds have
erty loving and country-loving man. Ev the coinage of free silver that did not de Im» I... .........
What would you
is
one
,a
l.
uluted
|
“
*
"
t
Pf<>P;'-etl
to make »11 these fallen with the wat«*r.
eryone who knows anything about me prive itself of gold entirely. (Applause.) to mislead, and is not true ill fact.
sttyiding «¿n the <l«*ck of
' obligation» payable m »dver (Applause.) think of a
knows that I am not a political admirer And you have hut to glance upon the
4
.
%
M
j
I
Ins
remedy
is
counteracted
se
far
by
«7
7
7
«•
of
tlios«*
v »* s T j «»T s s?n*ing. “ This ves
of (Jrover Cleveland: but if there was map ot your school boy or school girl,
••in** ( rime o f 73.”
i the assumption and admission that gold sel has not fallen: this vessel stands just
liny one act of bis administration which, your little son or daughter, to see the
All our woes are «late«l from 187” , the I will disappear?
where it «li« 1. but the numu-sal short* of
after the contentions of history have hu t recorded there for the education of period wluuf the free-coiners persmid«* | Now as to deposits of silver bullion, Lake Superior has risen?”
(Laughter
ceased to rage about bis acts and his youth, to know that every one of those then- .ltsi i|.les that, to use their sto.-k ex- | Xh(. wor|,l « product of silver in 1.SIM nini applause.]
memory, that will remain star-bright nations stands upon a lower scale of pression. silver was «lemonetized, or that (commercial value) was $21(1.81)2.200.
Now.
I
say.
ray
friends,
that
«¡nee the
forever, it was his action, when the progress than the nations which have one-half of tin* aggregate wealth of the I f we could g«*t the world’»» entire pro fiatili union, from 1875 to 187*». aban
pulse of business beat low. when com declared the policy upon which the Unit worhl was struck »town at a blow. Now duct (as we could not), it would take doned free eoinage, th«*r«» lias oxisteil in
mercial intercourse was cut off by rioters ed States now stands.
l«*t us bring this statement to th«* crucial,
European nations ami tin* Unit«*«! Slat«*«
My I el low citizens, the warnings of his absolute test o f figures, of what records three years to fill tin* voi»l of $(>20.000.- the only practical bimetallism.
in Chicago, by which, upon principles and
Let me
precedents laid down by Ceorgc Wash tory are all against it. 'Pile present ex aud statistics say upon this subject, and 000 o f vanished gold. The nations «>f r«*p«*at this.
I feel that I cannot hear it
ington 100 years before, lie evoked the amples of nations who singly are endeav not trust to th»* vague declamation of the worhl will not melt down their iut«» your minds too often or too urgently
strong arm of the Cuited States to re oring to sustain themselves under a single uii.v ihtmoii The vain,' (and I « i l i itivi- ip«in e«l « « » « r <■> depnsit it in the United that these nations, including ours, arc
fur this statement in
i s ‘ a,e* ,n ':P' " ry aud rn v ive merely a th«* only nations on the fa« e of tin* earth
store law and order in this .country. standard lorbid tis to enter upon a voy veil my mi... ..
age upon. I was going to say. untried moment), the valu»* of till silver coin in j silver certificate.
[Applause and cheers.]
that have any bimetallism whatever.
waters,
but
no.
upon
a
voyage
which
we
.S om e o f t h e K v il* .
tln* w.irhl in 187d w as $1.877,000.000.
This net is covertly (and covertly is
Ami why?
Because they went to the
Th«*
too mild a word) denounced in the t ’ lii- • •an plainly see other nations are making In IH!)."» ¡t was $4.100.<N)0.000.
danger
line, as we went, ami then
But the third alternative is one of
pttgo platform. More than that. I f there at the present time, where we can plain vaiti»* of all tln* gol»! »•«»in in thè worhl in most malign portent. It is proposed t<> stopp«*«l.
r Applause.]
The universal
is anything in this country or in any na ly view rocks of distress, the shoals and 187.“ was $:f.()4.’ .000.000; tln* vaine o f all use th«* interest-bearing bonded debt of teaching of history «iemonstrat«>d that
tion upon which the stability of the gov quicksands of their course from the se tln* gold »-oin iu thè worhl in 181)5 was the Unit«*d Stat»*s in order that the miner there was a <lea«l line, beyond whieh
ernment depends, the very keystone of cure mainland upon which the American $4.200.000.000. o f this «imiutity of sil- or owner »if silver may take his bullion silver «‘«»uld no* >»♦* pressed without the
the great an li upon which the ranged people now stand, and from which our ver eiirreiit iu thè world in 181)5, $.” .451).- to tin* mint meanwhile and get evi«l«»m*es immediate annihilation o f its companion,
empire stands, the ultimate principle of opponents are attempting to lure them 500.000 was full legai tender. N’ow at- of publi«* »lebt two for on«*—a privilege gold, as » useful, working money medi
And wh«• n any man g«»ts up and
nhsoluteism that must exist somewhere by false lights and false alarms. (A p tend to me l’or a iinmieiit while thè niath- not granted to or claimed by any farm um.
emati»'al «haluetiun is made.
By this er, artisan, manufacturer or pr»xlueer dreams and soliloquizes and philosophizes
in all governments, it is the courts of our plause.)
Now we have got to take facts exactly statennmt it uppears that tln* quantity upon God’ s herituge. I say it is pro fie fore im* and tolls me he knows it won’ t
land, where men sequestered from politi
cal concerns and political ambitions, as they arc. We are not dealing with o f gold in thè world increased. betw«*en posed to use tin* interest-bearing bonded be so if w«* try where others failed, I
holding the scales of justice even be glittering and glowing generalities. We 1875 ami 1805. ouly $1.2<NMNH),000. debt of the United ^tat»»s. Now. what t«*ll him that an ounce o f fact is worth
tween contending passions and convnd- are administering society and human con while thè iiienatse of sii ver «•«»in l'or th«* does this mean? It means an increase a ton o f theory, and that something bodi
ing rights, decide for their fellow citizens cerns: society, a being perfectly concrete, sani»* perio»! was $2.285.000.000— more of th«* bond«*»! debt. People who have ly is worth a million o f disembodied
ghosts. [Applause.]
what the law is. And for more than lot» infinitely practicable, somewhat selfish, eoined in thè twcnty-three y«*ars since
« • lit».-»ti.,ent« to « et
years the Supreme court of the Cuited and I am going to appeal to the selfish 1ST.! than r..„.»lm -l up to that time of f » 1.
W h a t is R a t io ?
trom *" ,1" ' 'vay. of the,r a":
States lias sat in that exalted position, ness of this audience to know whether all the ....... «e of the world »¡m e Noah
And yet these gentlemen favor, in the
or anyone e »e. are not
midway in tin* capitol o f the nation be they will assist in bringing about that lefl the ark. (A p p i»„».■., Ami i,early " » « ■
face
o
f
tlios«*
historical examples ami
olnK to P“ ‘ thelr
on
ln th('
tween the Senate and the House o f Rep which I think I ran prove will result Itimi,le more »¡h er lia» ........ oineil than * treasury
to get a treasury certificate.
warnings, that the United States shall
resentatives. a typical object lesson of from the arts of the gentlemen who are gold since 1875. What b«*com«*s. then, of
And so the chasm could not be filled make the unit o f coinage th«* silver dol
the assertion of the equal and equable
their position and of their sublime ca attempting to mislead them.
in »hat way. neither by gold, by silver
at the ratio o f 1*» to 1.
Now. my friends, the world is divided, production «if silv«*r and gohl from year or by the illimitable issue of bonds. lar Now,
lm city to restrain either, and has done
what is ratio? It js not $1*5 to
to
year
sine«*
tini**
liegnn.
ami
of
tin*
«lt*-
more to conduct the government to the just as sharply as it is by oceans and
So
tli
is
*
chasm
could
not
be
filled.
They
$1.
as som«* people claim. (Laughter.)
high plane which it occupies. I was going mountain chains, between the gold coun monetizatiou «»f ,•diver since 1875. in the ndmit it will last three years.
What Ratio means this: ’Flint there shall he
face
of
this
showing
that,
between
1875
to say. than all tin* statesmen which this tries. who employ concurrently with gold
will tnk«* place meantime, in the very sixteen times inori» silver in weight in a
country has ever produced. I Applause.) more silver money than all the silver and 181)5 the coinage of silver was near face of the dang«*r o f it? W e ar«* in silver dollar than then* is weight o f gob!
The Chicago platform strikes at that countries contain or circulate. (A p ly twice gr«*at«*r than that «»f gold? They til«* midst of commercial «listr«*ss almost in a gobi dollar. Or. to put tin* definition
talk
of
tin*
«b*m«iiietization
of
silver
sim-e
court, strikes at all courts, and enun plause.) I say that tin* gold countries
ttnexampl«*«! ir. our history; a panic such iu a notimi* form, that sixt«*«»n ot:m «*s o f
ciates its malign prophesy o f the reor of this world, ineluding the United States 1875 in the fa«*«* «»f a silver coinage as th«* worhl has sehlom seen. It would silv«*r, when coined, shall I m * the e«i»iiva-
the world since that year of
ganization o f that court and of any oilier (and I call them gold countries for the throughout
over $ 2 .(HHMM)f).(MM). of which $558.- throw 5.000.000 of men out of employ lent of om* ounce of gold when coin«*«!.
court if necessary, to register tin* firful purpose not of definition, but o f dear 444,407 was mint«*«! by tin* Unit«*«! ment. It would depress and starve tin* Wlmn gobi nmasured by silver is worth
»nd passionate and repudiating edicts of ness of expression), employ and circulate Stat«*s! (Applausi*.) A ml of gobi tin* wage-earner, ami it would deprive him $1*» per ounce, no disparity in vain«* can
mistaken and misguided men, of mistaken more silver than all the silver countries Uniteti States miut«*d during the same of being the Rest consumer and purchas exist :.but wlmn men sti red by silver tin*
of the world employ, eonfem or circulate.
and misguided parties.
ounce of gobi is worth $51 an ounce eoni-
I make another proposition. I appeal period $1 >57.-1 (MU»55. Ami hen*, also, is er that tin* American farmer has. and nmrcinlly, disparity results. Studi is tlm
A C risi« * is I m p p i n l i n g .
to history and to contemporary facts ausw«*r»*«I a statement confi«l«*ntly made by that reflex action inflict unexampled present condithin. and yet the fr«*«* silver
ami
plausibly
maiutaiiied,
aud
yet
erron
misery upon our agricultural population.
limn assert that it will I»«* in» such thing
And worse than that, my fellow citi which no man can dispute, that every eous in fact, that there has in all this (Applause.)
zens worse than that! I f there was free coinage country is on a silver basis. time been an «mormons contraction of
In that state of things the abyss must in case legislative fiat endeavors to make
Isn’
t
that
so?
(Fries
of
“
Yes.”
)
I
make
two
ami two Hv«» instead of the obl-
another tiling which the veterans if the
tin*
ourr«*in\v
all
over
the
worhl.
yet
be filled. No nation <*oubl stand such
Iasi war thought they had achieved and another statement for von to think of. the««* figures «•«inclusively demonstrate a contraction. The most radical remedy fttsliioned r«*sult. two and tw«» f«»ur.
’Flu* trouble is that our friends have
which the loyal sentiment of the North for I am not going to elaborate it—I am that that statement is not true. Now, would b<* absolutely necessary t«i r«*-
thought it had achieved, it was the ob going to get into the figure»» pretty soon my friemls. I have not taken this from store it. and there wouhl only be tw o - confused the ratio of weight with tlm
literation o f all sectionalism in this coun -„livery gold country uses silver and gold the statisti«s o f any other speaker or one is to get back to the honest. s«di«l rati«» o f value, ami are trying P» confuse
the p«‘oph* with it. The ratio o f w«»ig!it
try; we were to have no South, no North, »n amounts nearly equal by money nn- from any other b«iok. 1 know when* th«*
no East, ito West, any more. The whole t*i»ns. Isn’ t that so’' ( ( ’ ••i**s of “ Yes.” ) statistns are gathered with tin* care standard on which all th»* commercial a ml tin* rati«» «>f value. \v«»r<* once tlm
Tlmy
country was t<> be a unity. Hut in these Dn't that s,* in the United States? which ««»mmainls tin* resp«*ct and eonfi- nations, including th«» United Stat«**. same, but they have ebaug«*«!.
later days, we see the solid South com (Fries of “ Yes.” ) In France? (Voices ,|eiu-e of the <-iviiize«l worhl. and on the stand now. or to us«* an irredeemable «•hanged more than thirty y«*ars ago.
ing up to the banks o f the Ohio and the “ Yf-\” ) ! make another statement for 21»th of July (only a few «lays ago) 1 pa pet* money. p«*rfe«tly limitless or il Other untbuis saw it and obey«*«! tin* im-
Missouri as before the war. and with j veiir calm ami cool reflection, that no sil- telegra ih«*«l to the <lire«-tor of the mint | limitable in its amount. Ami when that pcrial b«*lmst of that change befor«* w«*
sectional demands upon an economic is- J v,.r standard eon*»trv l"»s nm* g »Id tuon- lmgnrdiug iiiformation upon tiles«* sub- comes to pass silver will vanish in the «Ibi. ami tin* rati«» is now throughout
fa«*e o f pap«T as gohl vanish«*«! in tin- tin* worhl 52. **r abolii 52. t « » 1.
i sue, precisely such as was made before j ev whatever. (A ’ »nlans".) Theft t** W* jeets. and In* ai>*wer«*«l me:
(Applause.» Ami then
Now 1 say that no legislative fiat wlint-
tuo Keltcll'oii. And now. with the p;ich-j in v word tor it. Ho an' investigate ties
• H o n . ( ’. K. Davis. St. Paul. Minn.: fa*«* «»f silver.
fork of Tillman stirring up the doctrine subject. I say that no silver country has Th«* total valin* of all silver coinè«! iu tin* you would have another chasm. an«»(h«»r ev«»r—it <l«»«*s not lie in the i»«»w«*r o f man
issue
of
money.
The
wreck
is
complct«*.
any
gold
mon
*v
whatever,
and
you
ran
1 1 was about t«» say something unir«» ex
of state rights, with the bomb of Xlfgeld
worhl iu 1875 1 estimai«* t«> have b«*en
in tin* denunciation o f our courts •»:i«l of se.arrh from Mexico to Fape Horn and $l.S 17 .(MH).iH)() ami 181)5 JH.IOOJIUO.OOO. and the United States stands entirely treme than that, which it wouhl not b«*
Tin* worUl’s sto« k «if gohl in 1875 is os- «in an irriMb'emable paper money basis, proper t«» say)—it dees not lie in the
President Cleveland thrown under the find that this statement is correct.
Another statement—and I make it up timat«‘«l to have be«*n $.5,045,000,000 and precisely the place "«• occupie«l lieftir«* power o f man to enact that a given «1 i-
very fabric o f our government, they have
chosen to pm forward as an issue some on a sens»» of niv responsibility after an 1 si)5 about $4.2(Mi.O(H).ono. K. E. Pres th«* war. and from which "«* struggl«*«! mciisioti. volume or capacity shall I»«* a
exhaustive
examination of statistics, in ti.u. director of the mint.” Ami these with s«» much passion of honesty ami hair’s hmnlth gr«*at«*r than the laws of
thing which touches more iminediCely
the conviction, the passions, the cupidity vestigations and records—that in every figur«»s 1 have just given you ar«* the fig love of national honor to emancipate the Almighty have fix«*«! it from the be
Do yon want that again? ginning. (Appiatta«*.)
Hud the honesty o f men. and which in it silver standard muntrv wages are pressed ures which I have just rend in tin* t«*l«*- oursolv«**.
It is accessary that the ratio or propor
self contains more disintegrating influ down to the very minimum of a wretched gram of tin* director. The gr«*atest busi (Cries «»f ‘‘ No. no.” )
But. my frknids. to look a little deeper tion o f \iilue should be invariable. It is
ences to our prosperity than all the subsistence. It is so in Mexico, it is so ness transactions iu th«* way «if finance
in
Janan.
it
is
so
in
South
America.
I
«»u the face of tin* earth are made upon into this subj«»« f. The misery goes fur in*«'«*ssary fo r ‘the |»roduetion o f tin* tiling
causes combined that I have mentioned.
The Democratic convention, or the say that in every silver countrv wages statements lik«* that, ami when what I ther that wouhl be inflict«*«!. I have be«*n itself call«»«! money, speaking »>f it in its
Democratic party, as now organized, has are pressed down to the very minimum have sa'nl is discussed the only answer talking heretofore about lawful money, great volumi*, as the volitili«» of tn«»n«*y in
W e s«*<* aiialogi<*s
that " i l l be made to it is probably that ami I mean by that, money issued by the tin* Unite«! States.
joined the Populist party in bonds of un of a wretched subsistence.
Mr. Preston ami the United States gov governments «if the worhl. tin* 1 nit«*«l everywhere: we sc«* an analogy in nature.
holy wedlock upon the deiiKind that the
The Reasons.
Tnk«*
tin*
air
we
breathe.
It is a com
ernment is one general universal gold States included. But di«l you ever think
United States shall take a position upon
Now if it is true (T will not go into
how little of the business «if this worhl pound suhstaime. mail«* up from oxygen
the currency o f this country which I. the reasons for it), but if »t is true ns a bug. (Laughter.)
Now let me give yon another state «»r o f any community lik«* St. Paul ami ami nitrogen at the ratio of aliont 77
speaking to you under the responsibility eoncrete. absolute fact, that no silver
of a man who is sneaking to Ids neigh country, no country which bn« adopted m ent. The coinage of the nations o f the Minneapolis is done on what is cull«1«! to 2.5. and " Itile this ratio lasts it is from
world in 181)2. 1805 ami 1804 was as lawful money? Statistics would seetu ?«> it we all «lraw our lives ami have our
bors. say that I believe is fraught with
( »old.
$172.475.124;
silver. show that I>5 jier cent, of the triosa«- being. But change t«» any material «I«*-
more disaster to this country than the th*' silver standard lua« any gold circula follows:
greatest foreign war could possibly b’ ing tion whatever. I say that it follows that $155.517.547 : 1805. gold. $252.420.517: tions between man ami man in civilize«! gr«*«* and. instead o f being the vital, lif«*-
the only practicable bimetallism on the Mlv. r. $157.052.000; in 1H1M. gohl. $227.- nations, especially in the Unite«! States, giviug air. it tmcoinea a «leadly and de-
shout. (Applause.)
is by way of checks. In «*iti«*8 they are struetiv«* miasma.
And that is the subject that I have planet is by the nations with which the 021.052: silver. $11.5.005.785. A total in balanced
against each other in the clear
But the fre■«• « «»itmrs assert that iiiilim-
•<een asked to talk to you tonight about. United Spates has classed its«*lf. and it three years of $1 JJgfr!>.5.80.408. W ith all ing house, and a few thousand dollars itc«l eoinage «»f silver will n*store it t«» a
I am going to do so. ns I said in the be „ this bimetallism in the United State* «letluctioiis for r«*<(jÉhmg«* this output o f balanced tmtney dos«*s the day’ s transac parity with g«»bf. It has been trb*«l by
which
the
new
Democracy
nnd
Fopn-
coined
money
is
o^TOimenae
volume.
ginning, not with any attempt at deco
Now I have thrown out these sugges tions. W here «•learing houses do not ex many nations o f th.. worhl. Has it done
rative speech, not denouncing any men lisin are endeavoring to destroy by sub
tions and will pass from that branch of ist— I mean in towns ami villages -the it in a single instniiee? N’«»t one. Th«*y
"h o may choose to differ from me. for stituting a silver monometallism. (Af*- the discussion and «all your attention to depositing o f the checks in the banks, ami said the same thing when Fongr«»ss
The bimetallism which this
1 tell you. my fellow citizens, that many pluMse i
countrv and the nation* of which I have another assertion o f the fr«*«* coiners: I the collections o f the banks adjust bal passe«! tin* Sherman a«-t • »f 1800 . They
and many a thousand men who differ
sai«l buy of us freely 4.500.0*10 ounces a
spoken enjoy i* the bimetallism o f fact alluded to it cursorily a few moments ances iu the same way.
from us today on this matter one year
Now. this is tin* greatest currency of month. *»r 5 4 .0 * h m n io ounces a year, ami
ami actual enjoyment extending to that agi», but I propos«» to now treat it in
from now will be wondering why and full extent which human judgment, hu the same manner in which I have treat civilization. Numbers are inadequate t«i von will see that sliver will go t;p t«»
how they came to do it. (Applause.)
ed the last pree«*«liug question. The free express its infinite superiority in numeri $1.20 an outme immediately. In the f*i«-*»
And so I shall go on. I may be tedious. mp n experience, human apprehension— coiinT.s assert that ««infraction lias in- cal relation to the lawful money of <»f clamor, in doubt as to what iniglit be
»■all it what you will—teach 1« the pro-
I a in going to give you facts and fig portion in'which the m eni» cnn t-o on,. flicted all the financial and economic which we have lieen talking. This is the the result, in willingness, (it went too
currency that no statutory fiat can ex far) to give such claims every oppor
ures. I am not going to draw on my
•
* in a degree that one will not de- miseries that mankind has endured since pand. although it can contract it. But it tunity to be «b’iiioiistrafe«l whether (bey
u"n imagination for my facts at all. ployed
strev or drive out the other and that 1,875. Now I say that they themaelv«** is a currency which will contract Instan were correct or incorreit, that legislation
The facts that I shall give you will bo both can co-exist together. (Applause.) coolly propose to bring about a contrac
impregnable.
It is for you to judge For there is. my fe'low citizen«, an un tion of currency in the United States un taneously to its very minimum bv the was enact«*«!. Ami silver «li«l g«» in the
course o f about ten days t « » $ 1.1!) an
whether the deductions I shall draw questionable dividing lioe-T shall prove exampled in the world’s history. I say o|ieration o f the Democratic and Popu on
dee (Applause by one mail) aud the
that they propose to bring al»oiit a con listic theories as announced in their jilat
from them can be refuted.
It further along, though It .* not neces tra« tion in the Uniteti States unexampled forms. Now what «Im*« that mean/ It free-coiners were exalted, and said, *‘ I
Now what is the question? For a cor- sari for men who have read
told
you s o .” But. my friemis who np-
means
simply
that
the
merchants,
the
vp -t understanding o f the question is al oven cursorily, for me to prove it-tfcere in tin* world’s history and fraught with manufacturers, the employer, the man of l»l.'imi at that «lelttsive statement, it htst-
ways the first step towards the solution ¡, a rliriilinc line hevonH «h u h ro „ can I more evils than are roeorde«! in the mi every kin«! %ho pays out money ’ o hi* «•«1 but a slmrt time. Silver pr«»«feilcd to
the controversy. The question is not not pa»» in the emnloyment o f the metal nai* of human woe. In that ease, if that fellow-men for lalsir. or for material will t til !«»"« r than it ever fell before. (Great
is the higieal result ami inevitable «Ics-
whether there should be the free and
le»» value without " •
" " ’ V 'i tinr of what they propose. I want to cease so far as he is concerned t«» *vm»t applause, i
unlimited coinage o f silver In tin* mints Of
It «lid not take it long to do it. The an
other anil entirely atipplnntln* it. An,I T know wherein th* g«»ldbug is worse than that currency which rules all business
<>f,all tin* nations, by the consent of th*' aa v that he who in-i-t- ,1 -a r i hurt,a I
The la< k «»f confulence will product* that nual average pr«Hltietion in the Unite«!
principal commercial nations o f the globe Ivi that the l'nite.1 State« »hall or can. the silver eel?
contraction in that currency. The clear States f«»r ten years before that act was
H e r « I* (h e P r o o f.
upon a ratio to be agreed upon. That is netine "lone, eoin Shrer w.lhont limit.
ings in the Unite<l States last week were passed was 44.1 «m.fino otiii«*es. in 1 Hi>1 it
Now you ask me f«»r m y,proof and I $811,000.00*).
uot the issue. W e nil might agree that " . ..oil. .1 hv the IVmoenttie anil Pop-
In the clearing imuse- ran »«• 51.0*ii.oot) ounces, ami iu I8irj
when this is brought about, as it will (**. oii.f p a form«' " no» « himetallt.t: he .« will proceed to give if. Tin* unlimited sfone. mind you. and not through the In to (»2.0***i.iHI*) ounces, nearly 20.00q.000
if the United States conducts itself with * »’ilver monom,'t»lli«t. who. after -pend- and free eoinage of silver in this country fluence of interposition o f the banks ounce« in«»r»* than we pro«fnce«l in the
judgment upon this question. I sav we
¡n ittaekiog what he deems will drive out the gohl. This i* as indis where there are no clearing houses. The average of ten year« up to the time when
uwfht all agree that that would be an Ihe Mol of the .lark i.lolatrr of mono- putable as any law o f physios, such as clearances o f the city o f St. Paul last that hill was passe«!, and it was then
vice!lent thing.
The Republican party foetalli»ni. end. by immolahn* htm «'lf th«* law «if gravitation. It has driven out week were something over $4.000.000. seen by all wise men. by all men who
had the stability of the currency md the
gold in
has uniimit
III every country
* which
* * « « » » • « *■«»•-
u ; W
NU
IlllllfV
II.I I
1*11'
II '»mount
IIII'I1 !.-| I
Does a any
man
think
that
sti« h
has pledged itself in successive’ platforms
money as that was used in St. Paul prosperity of their country at heart, with
to labor to bring about International " 'v o iv V"t‘ me riiht^her»— not e x .e tlr in cd!y «oine*! silver. Do you want the his- j
intelligent vision, that that immense vol
torteli
and
clear
proof
of
it?
In
fact.
]fl«t
week—
$4,000.000—or
in
the
ration.
•froement. The most advanced think
loei.a] eonneet ion—throw out » th«*n* is not an enlightened gentleman $ 811 . 000 . 000 . to transact their busin •*«? ume would break down—indeed *t did
ers upon financial questions in both
who will talk to you in adTocs«-y o f free 1 it was done by this currency o f civilizt- br«*ak dawn—the very theory upon which
hemispheres are advocating, especially in
.•oinitff** of silver who doe* not admit that ? tion which no nation «»an produce, which the bill was passe«!. (Applause.) It pro
foreign lands, the resumption of the coin
I this will be the inevitable result, bur they no nation can jegulafe or control, and I duce«) the pani«- of 1805. put distrust into
age of silver, by united action of nations
The silver tie-n «.*»«1
say it will «inly last two or three years. *ay that | P ' * irren cy. more imfiortanf the rnimls of nun
who. before we did. long ago. independ-
j that the patieat will probably survive than si*
fold or national paper. before we passed that bill in 19B0y that
ently of us, and uncontrollable by us. J i t combination", perh.p. of ...ton «.
•»Mended or limited the further coinage
The
at
FREE SILVER NOT
x i
i
silver would *«. i t a parity with f o i l
you will only give us a limited pufetf
of 54.000.000 oiintvs u year. It «lid )
go to a |Mirity. How can they say
ami look the American p«»«»ple in the t
with steady eye. that where it failed I
it is going t«» w»»rk entirely different 1
satisfactorily now?
BRYAN
Ho
ON T H E
R A T IO l
S a n g a % D iffe re n t S o n g o n
S u b j e c t W h e n H e w a s In
Co ng re ss.
j
On the 16th o f August. 1888« on |
floor of the House of Rcpresentatlj
Mr. By ran sai«l:
“ In fixing th«* ratio we should select t
on«* which will secure the greatest |
vantage to the public and cause the It)
injustice. The present ratio, in my jfl
incut, should b«> ad«»pte«l. A change
tin* ratio could be made (as in 1854)
reducing the si/«* of the g«»l«i dollar,
by increasing th«* size of the silver 4
lar. or by making a change in the weij
o f both dollars. A larger silver do
wouhl help tin* em it tor. A smaller a
dollar would h«*lp the debtor. It is
just to do either, but if a change ni
b«* ma«li*. the b«*m*tit should 1»«* given
tin* di*ht«»r rather than th«* cr«*ditor.
no <»m* accuse in«* o f d«*femling the ji
n«»ss of any change: hut I repeat it,
we ar«» given a elude«1 between a chai
which will ni«l tin* debtor by reduc]
tin* size of bis «lebt and a change wh|
will aid the cr«»dit«»r by increasing
amount which he is to receive, either
increasing the number «>f his dollars
their siz<*. tin* ml ventage must be gi
to th«* debtor.”
Legislation in favor of debtors or
«•r«*< li tors, a s a class, would be class lj
¡•'latum ami wholly unjustifiable.
QuJ
lions betwi'en d«*btors and creditors i
prop«*rly s«»ttled iu the conrts; and ev«
«•ourr $vill hold that what is right for
«uu;is right for tin* otlwr also.
Mr. Bi
an. tlu*r«*f«»re, «lid well to disclaim
vo« a« y of any change o f the- exist!]
rati«».
Should <. change be made at a|
tinu* h em ifter it cannot ami ought
to aff«*ct contracts antedating i
change.
But in advocating the unlimited col
age <»f silver bullion, at the present rat]
for th«* owner and without coat to hi|
Mr. Bryan do«*s propose a change of t
entire basis upon which business is tra
acteil.
Wo ar«» informed by hint t[
there are three ways by whieh the m
hetwe«»n gold and silver coin can he
tered:
1. The shrinkage in size of t!
gob! dollar.
2. The enlargement o f t|
silver dollar. 5. Making a change in t
size and weight o f both dollars.
Eith]
of tin's«» Hire«» methods contemplates
ni'iirt*r approximation of the coinage i]
tio to the commercial ratio and is so f
forth honest.
I f this approximation
tin* two ratios were carrie«l to the poi
o f ideality, tin* change suggesteil by hi]
would be absolutely honest—nrovid
that it is not retroactive in its applicnti
to outstanding debts.
'Fliis is not. how«»v«»r. the change whi
would follow the adoption o f free col
age at 16 t«» 1.
Th«-r«* is still anoth
possible cluing«* to whi«*h Mr. Rry
mad«* no r«*f«*reiiee in his speech, nam'el]
the shrinkage of the silver dollar,
silver dollar containing 571 % grains
pure silv«»r. worth 55 cents in gold, whi
nev«*rthel«»ss passes «•nrr«*nt for 100 cent
in gold, is an anomaly in finance, uni
explained.
The explanation is simp
Fifty-thr«*e <*eiits o f th«» «•urreni value
this dollar is visible: 47 cents of its val
is invisible, and consists in credit.
Fr
ami unlimited coiling«» would destroy thi
n*«*dit.
In advocating free coinage
16 to 1. therefor«». Mr. Bryan proposes
nni ke tin* silver dollar sum Her—not to ti
eye. but in fa«*t.
This would be a change o f ratio in t
purchasing power of th«* silver dollar,
comi»aml with u g«»l«l dollar, from 16
to 51:1.
To avoid this result Mr. Bryan grave
proposes that w<* should do one o f t
things: double the w«*ight o f the silve
dollar, or else «»oin gohl dollars half the
pivscut weight. Anybotly can s«*c th
on«* of these wouhl have to be «lom*
or«l«*r that i«lentit.v sh»»u)<l I»*» **stjiblish
between the coinage ratio and the
mereinl ratio.
Which «»f tlios«» two «*XT»edients
Mr. Bryan favor? II«* t«-lls ns that ei
larging tin* silv«*r «lollar would help
«•mlitor.
It could «mly help him
maintaining the pr<*sent standard
value. II«* also t.'lls us that halving
g«»hl «lollar wouhl help the «b'btor. If
it would I»«» by a change in the presenj
stambml o f vain«*. Finally, lie tells i
that he pref«*rs the latter expedient, F
cause tin* debtor lias rights superior
the rights o f the creditor.
T h e LcNNott o l’ !M02.
W hat hapiiened in 1802? Every bod
lunl money, plenty of motx*y; ami thf^
they cam«* to you ami wh)sp«>rcd in you
«*ar that although you had plenty
money and plenty of work that you w«*
not buying what yoit bought ch
enough: that tlmy w«*iv taxing the nmR
for th«* b»*ii«*fit of tin* few. ami too nun]
of lln* American peoph* listen«»«! to li
It was tin* arousing of tin* «-lass of
ployers against tin* employed: and
«■mployed against tin* «*mtdoyer: and
lunl tin* « Imng«* 'Fln*y gave us the rhea
stuff, but in what eomlition di«l they]
lcav»» the Americnn people?
It rcmimls im* o f a ««»loreil gentiema
who "jin teil to cross tin* Arkansas river
and Ii.-i«l no m«»nus. II;* sat «town awliili
upon :i log a ml waited until someone,
should «•«nm* up. Shortly a white gen
tleuian approncheil.
H e says: ” B'
I want t*» « toss this river: will yo
pleiiK«* giv. an* tw«i «■«•nts? I haven't n\
«■«•nt iu tin* worhl,” ‘‘ W ell, sir.” he siiiil,
“ if you haven’ t a cent in the worhl itp
d«m’t iir*k«» .a damn t»lt o f dlffereM
whi« li si«le o f this riv«*r yon are on.*
Ami
if i- with ill «In*:»|* g«»«»«ls thaff
11 1 • * k «* gcutlciiien furnish " k . They fillj
the stor«*s with tlmir «lothiug. madi
sho«l«ly. brought iu under an ml valorem]
law l>> whhdi the ini|K»rt«*r is mn«l<* t
sw«-ar that it is worth »»«»thing, ami it]
is worth mulling.
It is nunle out o
ol«l hats piek«»«l up «nit of the str«»eti
ami nll«*vs of <»ur foreign <iti«*s. of rag
fr*>in Switzerland ami rotton sernks fro:
Italy. It is «««.nt over to I»«* placed upoa
Ani«*ri«*au backs. That is not the civile
izntion we want.
\V«• want Aim*ti*an
";ig«*s. American clothing and Atneri-
<aii civilization.
Now. in 1.8D0 they
«•nine to ns. W e hn«l pit-oty o f money
beffire. now we have n«» money. They
conn* to us and say they are going to
giv«- it t«> us: ami they propooe »hi»
«lotibling o f the fa«'«* value of silver.—
From a sja*ech by ( ’«»ngr«*nsiiian Fow ler
of New York at Milwaukee.
('a i-lis le 'a F iv e P o in ts .
I
“ There js not a fr«»e coinage country
in tin- world today that is not on a silver
basis.
ii.
“ There is not a g«»l«l stamlard Cona
kry in the worbl today that does not usa
silver as mouey along with gohl.
III.
“ There is not a Oliver standard country
in tlx* worhl today that uses any gold
as money along with silver.
IV .
“ There is not a silver stamlard country
in the w«»rl«l t«slny that h»is more than
one-thinl ns much tmmcv in eir«*alatlo*i
per capita as rhe United HfairS.
V.
“ There is not a silver «tsmlard country
in the w«>rld to«lay where the laboring
msn receives fair pay for his day'o
work.” ______
TWO