The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-08-15

Bryan did not deny that such was
the intention of his party. The subject
was evaded by him He stated that as
the court had reversed previous income
tax decisions il might reverse this one.
But ne did not venture TO meet the ac-
cusation that the court is TO be packed
70 get a new opinion
Then, coming to the money ques-
ton. Bryan declared that a dollar which
| increases in purchasing power IS dis
/ honest dollar, and asserted that that
was what the gold dollar had done and
| was doing The more general the use
OF the gold standard the greater, ac-
cording TO him, the depression of prices
If all the silver standard nations were
to adopt the gold standard the misery
of the human race would be even greater
| than IL is now.
The only way to restore peace and
happiness to mankind, according 10 Mr..
| Bryan, was 10 adopt what he calls oil
metallism, but what is really silver
nlonometallisTn. This, ne alleged would
| give the country a stable dollar. What
/ its value would be he did not state.
| After arguing that free coinage would
! benefit the farmer and the wage-earner.
( he attempted TO answer some OF the
statements which have been made to the
effect that certain classes will suffer
/ severely by the drop TO the silver stand
| ard.
Bryan asserts that the benefciaries
OF life insurance policies will not be
harmed because-listen 70 this reason
in-the premiums received by the COM
panies exceed the losses paid, and hence
rising standard must be more Of a
benefit to the companies than the as
Prrr hn all ha
dollar IS apprecia ting in value steadily,
then the policies are paid in dollars
which are more valuable than those
the premiums were paid in
"Depositors IN savings banks are in
formed by Bryan that if the gold stand
ard Is adhered to they will lose ali their
deposits because the banks will be IN
able to realize on their assets, for every
body will be ruined by adherence 70 the
gold standard. Bryan does not deny
that the silver standard will deprive
depoSitors OF half their savings, but
asserts impudentiy that the gold stand
ard will deprive them Of everything.
Bryan asserts further that railroads
were hurt by the gold standard, for it
destroyed their liabilities. Strangely
enough. all the railroad men are of a
contrary opinion The silver standard,
banks which did square business, and
would be better for the community gen
orally. All the failures which are
happening now owing to the fear OF a
slump to silver monometalIism were
laid by him at the door OF the gold
standard.
THE ealaried classes were told by
Bryan consolingly that their pay-which
will be cut in half by free coinage-'wiu
be adjusted by conditions That is a
little too vague. The 40 millions re-
oeived by the pensioners Will be cut
down to 20 millions. How long would
il be before congress in which Till
NANTES dominated doubled the face
value of their pensions?
According to Bryan, capitalists out
OF debt and the Recipients of fixed
salaries were the only beneficiaries of
the gold standard Therefore he al
legged the people have the right to use
the ballot to protect themselves from
rising standard which was ruinous TO
them and helped only the members OF
those two classes. Then he appealed
TO the capitalists TO consider the inter
ests Of prosperity and accept 50-cent
dollars
Then Bryan proceeded to deal with
the question OF the value OF the currency
with which he proposed to bless the COM
munity. The bullion value OF silver,
he stated. would rise to 12s cents an
ounce, but not 1e9 cents in gold at its
present value. For geld Is to depre-
ciate as a consequence Of the free coin
age OF silver, which viii take away as
much of its present purchasing power
as was added TO it by the demonetiza-
ton OF silver
How much was added thus Bryan
has not stated yet. Aitgeld says the
purchasing power OF gold mas been dou>
bled. Bryan avoids figures He as
serts that the present dollar is TO be
scaled down. He should have said how |
much.
TT Is claimed by Bryan that the gov
eminent can raise the price OF silver |
by creating demand for il, and that an |
effective dema nd will be created by |
opening the minis TO that metal. The !
mint price. he said, viii regulate the |
bullion price. Nor, according TO Bry-
an, will the American minis be over |
loaded with silver, for the value abroad |
Will be raised
That free coinage OF silver in Mexico |
has not raised the value of silver is ad- |
mitted by Bryan. but he contends that |
the United States IS greater than Mexi- !
at present the bullion in a silver dol |
lar is worth only so cents Bryan declare. |
that free coinage will make the bullion |
worth a dollar, and hence there can |
be no Repatriation and no 50-cent dollars. |
Nor, according to him, can there be any |
fear of an overproduction OF silver. The |
people Will attend TO that in some mys- |
ferrous way.
Bryan insists on the ratio OF is 20 1 |
because change in the ratio would Be /
an injustice. would be unnecessary, and |
would be an injury to the people For, |
acoordingto him, a different ratio would /
give the world annually a sufficient sd- |
dition TO its stock of money. 1t is not /
necessary 10 go into his fantastic reas- |
oning.
The clause in the platform calling for |
legislation TO forbid the making OF gold |
contracts IS defended by Bryan on the |
ground that they are against public poll !
cy-thst they increase the demand for |
gold Since the legislature can fix IN |
terest rates. he thinks il can determine |
the kind OK money men must pay their |
debts in !
TO the assertion hat his election |
may lead 70 financial troubles and the |
foreclosure OF mortgages but that con- |
gress will not meet for thirteen months.
ne replies that he viii convene il ia |
special session. !
After a declaration that national |
honor required biu1e alliS-n. Bryan Sd- |
dressed q few words 10 the citizens OF /
New York. assuring them the south AID |
the west wished 10 biuld up and not 70 /
destroy, ant appealing for their aid.
Then the twO-lOur harangus was ended ,
with a few sentences OF gusi-
- - s--