The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1896-10-28
IncontrovertibIe Facts Which Are Admitted by the
Boy Orator in rlany of His Speeches
Throughout the Land.
HIS ATTACKS ON THE REPUBLICAN, PLATFORM
Refued Masterly Argument-Syer Monometaism Not BIZ
metalsm Gold he OF Value In All the Prin.
clpa Nations Where BImeaIsm Exists. as II
In the United States.

Mr. Bryan admits this: In the Chi
eago convention he said. when yol
come before Us and tell US that vi
shall disturb your business interests
we reply that you have disturbed ou
business interests" And the St Loul
Globe Democrat reported his saying ''
think Il Cmsaning the victory OF tn
free coinage movemeno will cause
panic. But the country is in a deplor
able condition. and II VIII take extrem
measures to restore Il to a condition o
prosperity"
In the general scramble by home ant
foreign creditors for gold. as there 4
not enough to go around. It would nee
essarily 40 to a premium. with the in
evitable result that the t5iLOOO,OOO o
gold now In circulation In the United
States according TO the U. s. Treasur!
circular OF October 1. 1896 would b,
exported or boarded.
As the total circulation OF gold. silver
greenbacks, treasury notes. bank bills
silver certificates and all other kind
OF money In the United States was, ol
October l. 1896, sl.s2.OOO,OOO. forclni
s5i7, 7,OoO, 900 Of gold out OF circulation
would reduce the money in circulation
about ono-,hird That is 10 say. wher
there are now three dollars OF none.
In circulation. then there would be bu
two dollars
Such a radical and sudden contrac
tlun OF the currency would OF ltsel
alone. and entirely apart from an!
panic on account OF the depreciation o.
the currency. cause a stringency anC
panic such as we have never known
But coming on top Of the other panic
the ruin IL would spread would be dlffi.
cult To describe.
Thus railroad stocks with gold mort
cages ahead OF them las gold must be
bought to pay interest. thus increasing
II not doubling this fixed charge. and TO
that extent diminishing or entirely wip-
ing out the net earnings applicable TO
with earnings diminished
by the business collapse, would in the
general panic become absolutely un-
salable. The bottom would have drop
ped out Of them. Banks, therefore.
would become absolutely unable TO
realize on their collateral, and though
A combination might save the strongest
for a time, ultimately they, too, must
20 to the wall.
The generalization would be COM
plete.
In this general crash all factories,
mills, building operations, etc, would
shut down, and all classes Of workmen,
mechanics and laborers, except farm
hands. be generally thrown out of em-
'loyment,
Under the keen competition OF this
mass of unemployed for the little work
eft, Il Is clear that wages, instead of
Using, must in the near future fall,
wen though paid for in deprecated
lcllars, because of the many who want
and must take It at any
,rice to save themselves and families
rom starving
)orers could buy neither food nor
'lothing, and the diminished demand
would cause the prices of grain, cotton,
md all farm products to fall, as is al
Ways the case even in small panics;
md such want, suffering and misery
would be entailed upon the laboring
'lasses as we never have known be-
ore.
OF course all mortgages past due or
n default would be Immediately called
n. and II not paid. foreclosed, and the
nortgagors largely wiped out.
1t is needless to say that there would
,e absolutely no money whatever to
oan, for who would lend a hundred
ents. or even 95 or 30, in order, later
IN, to get back but So?
THE SILVER DOLLAR.
Mr.. Bryan says he doc5 not believe
he silver dollar would depreciate to
3 cents or at all. but would continue
o be worth 100 cents in gold.
Is this view sound?
II the silver dollar under free coinage
S to remain worth 100 cents in gold,
t is apparent that silver bullion must
'ecome worth $129 an ounce, for IL
worth less, bullion holders would coin
t for the profit, and this process would
ontinue until no profit remained; that
5, until the value of the silver dollar
vas just the same as the value of the
'ullion in 1t. If, on the other hand,
he price of silver bullion Is not raised
o $1.29 an ounce, It must inevitably
raw the value of the silver dollar
own to the value of the bullion in it,
s bullion would be coined until the two
'alues met.
To raise the value of silver bullion It
s necessary to raise the value of the
Whole worlds stock of silver which