The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-08-16
cOwEN ON BRYAN.
The MARYLAND Congressman Ana
Iyzes the New York Speech or the
Chicago Nominee.

Chicago Nominee
From the Baltimore Sun.
"T have not had time to read Mr.. Bryan's
speech as carefully as l desired SAID
Hon. John K. Cowen yesterday, 'but my
impressions are that from this moment the
silver craze will wane. Mr.. Bryan has
had his say and he has not advanced one
single argument. Every statement, how
ever of the speech will be riddled a thous-
and times before the campaign is over by
the presentation of simple historical facts.
take such a statement as this:
we contend that free and unlimited
coinage by the United States alone Will
raise the bullion value of silver to its coin
age value and thus make silver bullion
worth a.29 per ounce in gold throughout
the world
"What proofs does Mr.. Bryan offer for
this remarkable assumption? None.
"1t so happened that during the debate
on the pooling bill sat next to Mr.. Bryan
Il, the House of Representatives. After
his speech against the measure intro
duced myself to him, and thon tod MIN
that if entirely agreeable 20 Nun ~, woS I'l
like for my own information to have his
answer to one or two questions about free
coinage. He courteously said 1t was en-
rirely agreeable.
asked IL ne denied the tAlSltHGc
or oneration of the so-called Gresham law
relating to the currency, namely, that
where there was the free coinage OF Two
metals at a fixed ratio the metal that was
oxerhauled at the mint would drive out
~ circulation the metal that was there
undervalued. He said: No, that law or
currency is well established
81 then asked him If he thought under
frne coinage with one ounce of gold
north thirty-two ounces Of silver in the
market, that gold and silver would c1rcu-
late together upon the ratio of 16 to 1.
He said yes. ,,.
bullion would advance in price from about
az to 68 cents an ounce-its then price
to 81 % per ounce, measured in the terms
Of goId?' and he said, yes, that is my be-
Haf, NV reply was this: Bryan, 1 am
vice president of a silver mining COM
many. and L silver rose to N.29 per ounce
II would be about $4,000 year in my
rocket. It seems funny to me that by the
TTndted States saying be It enacted etc,
Won aan make my product in Mexico jump
i'm from 65 and 6S cents per ounce to $l.29
and give me $4,000 per annum. 1t looks
cdd -, A.. 49,.
didate for the presidency of the United
states he would ever advance such a silly
s+stement Yet his whole case rests upon
mis- unsupported assumption.
ttTTnder the Sherman act, when the treas
ur.v of the United States was buying 81
000O ounces per year, almost the entire
production of the United States, the price
IF silver steadily fell, and even with fall
ing prices the production of silver has
continued to increase.
what business man would invest a
hostage stamp upon the judgment of Bry-
an as to the future price of silver?
sgThink of some of the consequences of
s7tch a sudden rise in the gold value of sill
ver The Mexican silver dollar to-day
brings So cents in gold tomorrow, after
free coinage in the United States is in
ane1lrated. this dollar of Mexico jumps up
ia 100 cents The legislation of the United
states would thus appreciate Ito use n
favorite term of the silverites) the Mexican
dollar and Mexico would then suffer all
the horrors which the silver men say fol-
low in the wake of the appreciated dollar.
OF course, there would be a crash in
Mexican prices, the prices of products i'm
ported into Mexico, measured in Mexican
dollars. would fall at once, and a sudden
dfsarrsngement Of her finances would oc-
eur such as has never been seen in her
history.
"The same thing would be true of China
and Of India. If the price of silver bullion
is doubled the price Of Chinese silver is
doubled-indeed, 1t is very largely used IN
the shape Of bullion and passes by weight