The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1896-06-27
Mr.. WHITNEY'S LETTER.
The New York Politician Addreqses His
Party on this Money Question.


NEW YORK, June 22.-William C.
Whitney yesterday made pu Llic a state
ment in which nc defines the political
! situation, and concludes by saying that
he is not n presidential possibility, that
he would not run if nominated and
would not serve if elected" AS to the
silver idea, he saws:
For the past Is years leaders of public opin-
ion In the south and west have been advocat-
ing as the great remedy for existing ills the
free coinage Cf silrer at sixteen to one with
or without the cooperation of other nations.
large majority OF the delegates to the COM
Ing democratic convention have been elected
by the people for the purpose OF incorporating
that doctrine into the platform of the demo-
cratic party.
This movement for free coinage purports to
TO have for its object the establishment and
/ maintenance of gold and silver the money of
the country upon equf terms with each other,
and at parity Of purchasing power II by the
proposed measure that object could be secured
there would be no substantial disagreement in
the party Every national democratic platform
that has heretofore spoken upon the subject
has declared for both gold and silver money
1t is our traditional policy. But the main
tenance of u double standard at the present
time is not question OF desire lit is ques-
tfon OF ability. The commercial value of ST.
yer has greatly declined in the markets Of the
world.
Whatever the causes are and whoever is to
blame. the fact is that silver has declined and
free coinage now at sixteen to one is the same
as our Offering for all the silver in the world
about twice what 1t Is selling for in the mar
ket. international exchanges have to be paid
in gold And it would seem plain that If we
under these conditions. open our miHts to the
free coinage of silver and gold at a ratio of
comparative value. which IS largely at variance
with the commercial value OF the two metals,
we must take the entire silver surplus our
selves. maintain its parity with gold. or else
wo shall 20 to n silver basis
This movement, purportfng to be in the in
terest OF the joint standard, comes at a most
inopportune time in my opinion There has
mover been time when the prospects OF inter-
national action, favorable to the joint stand
ard, were at all as promising as at the present
moment. but an ill-advisc !. unsuccessful at
tempt here would discredt the cause the world
over.
At the present moment Germany, France,
Italy. Austria, Holland, Belgium and the
United States wish to cooperate for the es-
tablishment ana maintenance of the joint
standard by international agreement and (most
important circumstance) Great Britain has
Gently (withtn three months, in fact) made a
most important confession. She said: I'VE
will do for you as much as you can do for your
selves We will make this great contribution
to q bImetallic system. We will go back upon
deliberately arranged methods OF providing a
currency for India We will open the India
mints. We will engage that they shall be kept
open and we shall therefore provide for a free
coinage OF silver within the limits of the British
empire, for a population greater in number
than the population OF Germany. France and
America put together"
Personally, it is my opinion IL the demo-
cratic party goes on that platform at this
time, they will meet the most disastrous defeat
that any party has ever had in this country
understand it is honestly believed in and
people think 1t will bring relief from their
present troubles: but between now and cleo
tion day 1t will be pretty thoroughly siftcd.
and the people OF the country will not face the
disturbance of values, the loss of confidence /
the general distress and ruin which would /.
come to their business interests in such "a
change in their standard of value as would
arise from such n change. 1t will ovcrwheIm ,
the persons who undertake. IT.