The Providence news. (Providence [R.I.]) 1891-1906, 1896-09-10

We gladly respond 20 the request made
in the following Communications:

have read In the puolic prints OF late
the statement that tho election OF MIR. w.
j. BRYAN 10 the Office OF President
would, if.he so desired, place the United
States on a silver basis at once, without
the passage OF free coinage act by Con-
gross. Will you kindly explain how this
is so aud greatly oblige a mum her OF your
readers2 Yours respectfully,
W. II. s.
We cannot "expiain how this is so,
because it is not so.
We have no doubt that our CORE
spondent has seen statements to that
effect. Now and then a misleading state
ment appears in the mass of matter on
the question that is spread broaccl't.
Considering, however, how much Is
spoken ana printed, il is marvellous tnat
amid oil the intricate factors OF the
problem, orators and writer's have not,
more often than they have, "got in over
their depth" BoURKE COCHRAN" slipped
Madison Square Garden, but, considering
the length OF the address aud the fact
that ii was deliver without manuscript,
and great portion of II made In quick
response to questions put TO him from
the floor, the printed report is remark
ably free from statements that fail to
bear analysis. President HARRIsoN's S
great speech in CirDegie Hall was deIiv-
cred under like circumstances, and the
statement that our correspondent quotes
we have seen credited or charged, to
that speech of President HARRISON,
which shows that even high authority
may be "caught" In this way.
In the first place the turning OF the fl
pances OF the country upside down and
dropping 1t finally on q silver basis would
be a considerable operation. 1t would
take time TO call together and organize
Congress and so drastic a piece OF legis-
lation, backed even by favorable msjori-
ties would hardly be put through without
a long struggle. Indeed II Is not unlikely
that for the greater part of the two years
of life OF the next Congress, even suppos-
ing 1t to have a working silver majority
IN both branches. the country would he
in a state Of uncertainty as to the out
come of the BRYAN financial policy. The
uncertainty, be 1t said, would probably
be worse for the country than a final
adoption OF a silver standard through the
medium Of free coinage law.
would De helpless. He could not, il no
so desired, place the United States on
silver basis without the passage OF a free
coinage act. II BRYAN were President be
could let tho gold reserve "slide" and
pay out silver whvn men asked for gold.
Such a proceed ng would send geld to
small premium, but the mere putting of
silver In circulation in this way could
not "pace the United Stats on silver
basis" To do that would be mpos-
si3ie 50 long as silver coinage
Is unlimiied-and II is limited 20 the
amount OF coin now in circulation end
The bullion on hand thot was purchased
before the repeil OF tie Sherman law.
Being on a sivr tasis does not mean
that silver is the only cola In circulation
but that silver is tho measure of none
tsry value, and to make it such a mems
ure silver oolnag must be not only
free bu, also unli~'ited.
OF cour,e. any such action as that pos
sibIe to the President would nave a seri-
GUS enough effect, and the lesson that 1t
is per APPS Intended TO teach by the mis-
statement that our correspondent has
qu ted may not be so widely different
from the idea that the quotation wrongly
conveys. II Is indeed ne suro es sunrise
that tho nero election of BRYAN, with
ont waiting for his inauguratfon, would
result in disaster. The election of q free
silvsr Congress along with BRYAN would
result inmedistely in a panic without
wal lug foF the actual consummation
Of the object OF ;he free silver
itets, namely, the actual passage Of
free silver law. a comon' tration OF this
certainty Ia probably not necessary for
tho enlightonn ent OF our intelligent cor
respondent, We need only remind him for
a recent instance, that the panic and bard
times from which we have been suffering
under tno present ada Illustration pegan
before the actual change in the tariff
laws. Disaster was rrecipitaied bv the
fear Of the charge even though tie Nc.