Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-03-15
BAYARD'S WARNING.
He Sees Democratic Disaster In the Party's
Silver PoIicy-Free Coinage tho Worst
Step That Could Be Taken-Earnest and
Patriotic Advice.

He Sees Democratic Disaster In the Party'l
Silver PoIicy-Free Coinage tho Worst
Step That Could Be Taken-Earnest and
Patriotic Advice.
WILMINGTON, DEL, March 14-Hon.
Thomas f. Bayari has addressed an open
letter to the Democrats of the country upon
the question of free silver coinage, in the
course of which he says:
In proportion to the gravity of public
questions, plain and candid utterances be-
come the duty of an American citizen. !
have watched with increasing apprehension
the legislation of Congress in relation to
the coinage of silver, and from the very
first have deplored and opposed the false
position assumed by the Government in
ls7s for the first time in its history, of enter
ing the market as a purchaser of silver
bullion, and forcing its coinage as money
and as an unlimited legal tender at a nomi-
nal value behind its intrinsic and real value.
Natural laws, the laws Of demand and
supply and the right of private contract,
absence of gold and silver. and statutes
arbitrarily replacing these laws will be
always maleflcient and creative of con-
fusion and disaster in. the business
written on the face of history
and all human experience. Their denial
or rejection will be met by speedy proof Of
their necessary and ine1orable acceptance.
them and being possessed of the
temporary representative power shall
assert by the passage of statute their
power to create a value in the metal of sill
yer, or any other commodity, and enforce
its free and unlimited coinage at a ratio of
value as compared to gold far above the in
nrnao. trinsc value altered by tie prices
ilized world, they will soon find them
selves and their followers face to face with
the opinions of mankind" that tribunal to
when they struck the shield of the arbitrary
power of British king and his ministry and
declared for liberty and independence.
With such a flood set in motion what
must become of tho carefully conceived
power of onr present gold reserve of
800. 600 600, expressly set apart for the single
and special end of maintaining free
competition and the interconvertibility of
the two precious metals a fund, be it re-
membered, bought and paid for by the sale
of Government bonds upon which interest
has ever dnSs since been regularly paid
been the great faction in maintain
ing the unquestionaole confidence in
every dollar in the hands of the men,
women and children of the land, withstand
the current of demand for gold when it has
reached premium, and the panic that is
sure to follow.
Iwould be unfaithful to my party affilfa-
tlons and unremlndful OF my duty to my
country If did not warn the Democratic
advocates of free silver coinage to beware
lest by their action they impair and
weaken public confidence in the wisdom
and conservatism of the organization of
which they are members, and thereby de-
crease the dangers and evils of the continued
and control of political party,
proven by its record in the last Congress to
be sectional in its objects and purposes,
mercenary throughout its organization, and
regardless af the considerat tion of our Gov
ernment whenever power is to be obtained
or perpetuated by its violation.