The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-08-16

|
lutely withdrawing silver from free coinage
In the single gold standard there is no dan
ger OF goid overlapping silver. When silver is
produced IN excess of gold it is impossible to
MAINTAIN parity of the two metals as money.
we must have fixed policy. In the light of
the contract law of this State all talk of free
| absurd.
What means would I take to check the out
TOW OF gold from the treasury which has been
| SO marked during the present administration?
| wen, the outflow began long before the pres
| ent administration came into power. | would
| favor issuing 1916, 100000 of Understanding
bonds and sell them for gold. and call in, re-
| deem and DESTROY the 1916 900 900 of green
bscks. The shrinkage in the currency would
| be supplied under the law of 1875 by the banks
| furnishing National banknotes. If this should
silver certificates in silver-that * in all prob
ability very little silver would be called for,
\ and the silver and silver certificates would
stay in circulation practically on the unit
value of gold.
| United States Surveyor General Green
! said:
| Lam not free-coinage silver man, but am
inclined to. the opinion that the majority of
| the: Democrats of the State are free-coinage
men at the ratio of 16 to l., | eannot'tell what
i ton comes up for consideration, but do know
that no greater, disaster could overtake the
steadily reviving business interests of the
country and the laboring classes generally
4
| al the proposed ratio of is toll.
why dol oppose such measure 2. Because
1 l am persuaded that the laboring classes, as
] far as the money question is concerned, are
i fore. = = :: =: - -. =.
/ :: A.dollar will buy more goods to-day than it;
responding benefit.
|: Again. if silver should*.be recognized by the
governments as money on the basis proposed IL.
would at once double the cost of goods or all
commodities, while labor would be slow in re-
|. ceiving any appreciable increase in pay :.
/ To what; cause:do. / attribute the export of
| gold from. this country during the present
National: Administrations? 1 will be: very:
/ frank to>say that it would require considerable
thought and investigation to answer. that
question:. | am not prepared on the moment
to answer it. -: -: :.
Has the alteration in the tariff had nothing
TO do with the output OF gold from the treas
| ury? No, i think not; but let me say that
there are so many causes so complex in their
nature that have combined to bring about the
present condition OF affairs In the National
treasury thatit is very hard to designate any
definite cause: as being a. prominent factor in
producing the present condition in monetary
affairs: r: -.
Money Is: a medium of exchange, and we.
want. the best possible medium of exchange
for our money. There, can, be but one best,
and that best when applied to. the currency
question means gold, and this:is true because
nature" has furnished: it So :sparingly. and
diversified it: through the earth so completely
as to make of itjust the proper substance. upon
which to base the finances OF the world" ::
. Is not the possibility. of a. monopoly. in the
monetary world based upon the fact that it is
possible for q few persons to: own and control:
the gold of the world r.: No. do not think SO;
place; JUS in no better condition., for silver
could be controlled equally as. well. The facts
in the case are that this::whole silver craze is
but the result OF perhaps some thirty men who
own the silver mines of this country and Mex
leo, and they seeking to pass a free-coinage
measure solelyfor their own profit ~ -
a(,v Afr xo1I
our National treasury, and good times will
only come with the restoration of confidence,
and that cannot be until the silver craze has
had its day. =. - -: -: ~:
T.: Samuel Braunhart, Port Warden and
author of the financial plank in the last
Democratic platform, when asked as to the
probable action of the Democracy of this
State on the silver question, said: !: -:
lam firm in my belief that fully 90 per cent of
the Democrats OF California are in favor of the
free and unlimited coinage of silver. am
equally sure that. they will insist on a fair
and open expression of their views on this
matter when 1t comes up for party action. =.
:: don't believe in the sincerity of the profess
sions of those who advocate international BIZ
metallism. Some grounds for sincerity may
lie in the claim of some men who think it
doubtful that parity of the two metals can be
maintained by this country alone.
Judging by the past the advocacy of interna-
tional agreement on this question is merely
pretext to prevent legislation on the part of
Congress-. The Eastern press ridicules inter-
national bimetallism. declaring it to be i'm
practical; thatinternational legislation can no
more effect the value of silver bullion than the
legislation of this country alone could do.
They (the monometallists) claim that the laws
of trade alone can establish the values of the
two metals.
All true bimetallists, on the other hand,
hold that by the retirement of all currency
below the denomination of $40, and the OPEN
ing of the minis of the country to the coinage
of both metals without discrimination, an I'M
limited demand would be created, and that
would maintain the parity of gold and silver
at the ratio of 16 to L..
This l believe to be the well-nigh unani-
nous sentiment OF the people. of California,
and the Democratic party will be sure to take
action in accordance with such views when
the time for action comes.
This contest for the rehabilitation of silver
is one between the masses and classes-the
classes for gold and the masses for silver.
The general reduction of all property values
and of all the products of labor and the threat
ened establishment of industrial slavery must
necessarily be charged to the attempt by the
classes to enforce and maintain the gold stand
ard.
:: 1t is singularly strange that we have thus far
permitted England to dictate financial policy
for US. England asa creditor nation will never
consent to the RECOMMENDATION of silver.
1t would be well to remem Der that when
England, in 1916, demoneized silver, the
Latin Union, Germany, the United States and
other countries continued to maintain the
double standard without. depreciating the
standing of the white metal.
Since the last State Democratic convention.
several of the leading Democrats of this State,
who then opposed the free and unlimited coin.
age of silver at the ratio of Is to i, have since
become strong advocates of the. white metal at.
that ratio: -. -:
The repeated declarations of the Democratic.
party of this State, as evidenced by its plat.
forms, can leave no doubt in any ones mind as
to:what tie fair and untrammeled sentiment:
of the party really is and whatit will be if not
coerced by the power OF the National Democ-
rscy through the Federal :ofice-holders AT
Washington. :: =: - " " -
f. There Wilt doubtless be an attempt to pack
THE next convention in the Interests of the
goldbugs, @as: recently witne ssed in Kentucky
and Iowa: Should the attempt succeed, there:
Will be "a revolt; and such a one too; as Will,
lead to desertions from the party all along the
line.
nanswer to the question, What Will. be
the probable action of the State Democracy
in regard to the silver question? Gavin
McNab said: "
1t is difficult to forecast the action of a con-
vention to be held: nearly year hence; Con-
ditions prevailing at the time of meeting will
most likely prevail over any opinions held at
present. ::
Nothing is more clearly exemplifed in the
political system of the United States than revo-
luton of political sentiment. Opinions in
variably yield to conditions. If next year the
prosperity which seems to be rapidly return
ing shall be completely re-established, conser-