The Somerset reporter. [volume] (Skowhegan, Me.) 1868-1909, 1896-08-20

AT lDltaRO, Nlllldm y. YAH duuItsotu
this communication to the New York
World
The restoration of silver TO its ancient
place by the side of gold, will in my
judgement, restore the parity between
money and property, and thus permit a
return of general prosperity. The
World. which did such effective work in
behalf of an income tax. will find a still
larger field OF usefulness in supporting
the gold and silver coinage of the Con-
stitutiou
WILLIAM J. BRYAN.
In an editorial "open letter" to Mr..
Bryan. the World calls upon Mr.. Bryan
10 reply to some of the questions sug-
gested by this telegram. 1t invites him,
in his speech Of acceptance. 10 define
the plank of the Chicago platform de-
nouueing arbitrary interference by
Federal authorities in local affairs, and
also that plank rejecting on the integ-
ritz OF the supreme Court and indicat-
ing purpose to pack that great tri-
bunal.
Following are some of the World ;
pertinent questions which Slr. Bryan
does not find it convenient 10 answer
l. When. in the history Of this eoun-
trg. has silver occupied its ancient
place by the side of goldsa Has there
ever been a time when the two metals
circulated upon equal terms As full
legal tender money, with the mlnts open
10 tie free and unlimited coinage of
both II so, When was it
, You say that the restoration Of
that condition will in your judgement,
''restorc the purity between money and
property" Will you kindly explain
what you mean By this What Is the
parity between money aud property
DO YOU mean that The "restoration'
viii put up prices. undo the cheapen-
Ing effects of Improved machinery,
transportation. cIe. and increase the
cost Of living Ia all classes of the COM
munity, Ii 81, will You kindly explain
how this increase in the cost of all
commodities Is likely to promote "a
return of general prosperity" VIII the
workingmau, whose wages are station
airy or nearly so, be made more pros
porous by having to pay more for his
flour, meat, groceries, chickens, eggs,
fruits, vegetables, clothing, household
utensils, rent, and all the rest of it
VIII even the farmer be better off with
a double price for his produce, in the
wholly improbable contingency that
Europe will consent to pay it, il he
must pay double for everything he has
to buy?
3. You point US to "a larger field of
usefulness in supporting the gold and
silver coinage of the Constitution But
what Is 1.-THE gold and silver coinage
of the Constitution" In what clause
of the Constitution, or in which of the ;
amendments, does the fundamental law
prescribe a gold and silver coinage or
any other coinage? In which does it
mention any coinage further than to
authorize the General Government to
"coin money and to regulate the
value thereof?n Acting under that au-
thority Congress at first authorized
coinage at - co |. Was that the gold
and silver coinage Of the Constitution -
If so, how has Is to | come to be the
coinage of the Constitution? Under the
first ratio silver was undervalued and
refused to circulate except in the form
of worn and abraded foreign coins. Our
own silver coins, even the subsidiary
pieces, were melted down for bullion
because they were worth about 3 per
cent more than gold dollars. In all
the period up to the time of the great
silver discoveries Congress sought to
make the coinage ratio the same as
the commercial ratio. 1t never author
lied coinage at any other. Was that
the coinage of the Constitution" If
so, will it be a return to it for us now
to establish free coinage at the ratio of
l6 to when the commercial ratio is
about 81 TO | :
4. viii not free coinage at Is to | re-
duce the value of the dollar unit by
about one-haf?
Will it not be in fact a reputation
of about one-half Of all our debts, pub
lie or private:
Is there not danger that it will
cause the return to us of all the Ameri-
can securities held abroad-Governmen
railroad and industrial stocks and bonds
thus precipitating a panic of giant
proportions, with long years of depres-
sion to follow?
Will not your election upon the
Chicago platform cause the calling in,
between November and March, of all
collectible debts. all loans, all mort
cages that have expired And will not
this produce such distress as this
country has never known, particularly
in the West and South, where capital
and credit are most needed aud depend
upon CONFIDENCE as their basis?
s VIII not free and unlimited coinage
drive all the five or six hundred millions
of gold and gold certificates out of use
as money or as bank reserves? Will it
not cause a currency contraction of the
most disastrous proportions. Inas-
much as the utmost capacity of the
minis to coin silver cannot make good
this withdrawal for several years to
come?
.. Will not free coinage place US at
once on financial level with Mexico.
India and China, and can we afford to
go upon that level?
TO- Is there any country in the world
today which gives free and unlimited
coinage to silver? Mexico does not.
India does not. None of the Central or
South American States does. We know
of no country that does, of no example
that can be studied.
Is there any country in the world
now on the silver basis which is as
prosperous as the United States even
in this time of depression? Is there any
in which wages are so high as they are
here, or in which the dollar received in
wages will buy so much? Is there any
silver basis country that has large
commerce, prosperous manufactures,
or well-to-do agricultural class? Is
it not fact that in every silver basis
country in the world abject and hopeless
poverty on the part of the mass Is the