The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-08-20

benefit of the coast and to the whole coun-
try to have the members of the next Re-
publican convention come to San Francisco
and see what you have here"
ASKED what would be done by Congress
at the coming session in the way of tinan-
cial legislation Mr.. Cannon said: "Under
our constitution the House, the Senate
and the President must agree, to legislate.
The House is strongly Republican, the
Populists hold the balance of power in the
Senate, Cleveland is President. How can
there be any economic or financial legisla-
ton under such conditionsP The appro-
priations for the public service must be
made and when they are made the best in
terests of the country would cause Con-
gress to adjourn"
"What is the political outlook for the
next campaign?" was asked.
"The country utterly repudiated the
Democratic party and Democratic policy
last fall. Those elections are prophecy
| and promise of complete reversal of
| the policy in 1885,"
| els the silver question going to be the
main issue in the next campaignP'
"In my Judgment it will not. January
| /, 1879, all obligations of the Government
became payable in gold or its equivalent.
| Nine-tenths of all credits in the United
States have been curtailed since 1879 on
| great bulk of the National debt has been
| paid in that currency. In my Judgment,
| the free coinage of silver at the ratio of 16
| to L by the United States alone would give
us silver monometallism, the money value
and intrinsic value of silver being the
same. In other words, 81 of our present
currency would purchase sufficient silver
bullion to coin two silver dollars, and with
! free coinage of silver gold would disap-
pear and we would have a currency which
would have value one-half of the present
| currency.
1.-THE bondholders having been paid in
good money / do not believe that the
| 1 ,0OO, 600 pensioners on the rolls, who are
receiving $3.50, 900 900 from the treasury an
nually, will consent to have that which is
| due them decline one-half.
"Nor do believe that the SOC, 900 depos-
! itors in savings banks, with an aggregate
| deposit of $500, 000,0 900, will consent to re-
ceive one-haf the value of the sums they
have deposited.
'Nor do l believe that the great body of
| wage-earners will consent to receive their
pay in currency of less value than we now
have, especially as it would take many
years to increase rates of wages to COM
pensate.
1.-THE average citizen more readily gets
| to the merit of a question in which his in
| terests are at stake.
"ln the MISSISSIPPI valley the advocates
of free coinage by the United States alone,
| it seems to me, are not more numerous
than the fiat money men were prior to
1879, and are becoming less numerous
| every day."
"Then you are gold monometallist? p
| was asked.
ION the contrary, am genuine bimet-
allist. / believe that bimetallism can only
| come by our continuing to use the largest
amount of silver that we can circuIa to
and by the operation of all forces main
tain at parity with gold. This policy
has already created public sentiment in
Germany and maintained a public senti-
ment in the countries of the Latin Union
that makes them willing to meet us in in
ternational conference to agree upon a
ratio upon which gold and silver shall be
admitted to free coinage in the respective
countries. And if we may trust all re-
ports public sentiment in Great Britain is
rapidly coming to the same point. Such
an agreement would give us that which
all true bimetallists desire, while sep
arate action by the United States in the
name of bimetallism would give us silve,
| recommendation"