The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-08-31

man like Mr. Reed is unable to answer
the arguments of a simple young mar
from Nebraska what hope is there fol
the rank and file of the Republican
party and the sheep raisers in this
country to satisfy the discomfort and
the growing unrest of the people with
the existing conditions? We have
monometallic standard in the United
States. Who but the money lender
is satisfied with its results? And
yet we are asked by Mckinleyttes
Hannaites and wool raisers to continue
the present conditions.
1t seems that certain life insurance
companies-the New York Life and
Connecticut Mutual-are not to enjoy
the distinction of an exclusive public
antagonism to an independent bimetal-
lism on the part of the United States.
Mr.. George F. Seward, president Of the
Fidelity and Casualty company of New
York, has entered the field with the
view of dividing honors with Messrs.
John a. Mccall and Jacob L. Greene.
The fact that these gentlemen are in
fringing on the precincts heretofore
supposed to be the private property of
money lenders should give rise 10
alarm. Nothing but a spirit of an
archism in high financial quarters
ton of insurance men IN discussing
financial problems when that question
is by Republicans to be an issue that
must be determined solely by our ma
tional paWnbrokerS. However much
advantage the Fidelity and Casualty
company may gain i'm the east by Mr..
Stewards public opposition to Mr..
Bryan, it certainly will not benefit that
company in the west Whether from
inherent good taste, or from diplomatic
considerations, the English companies
doing business in the United States
have avoided entering this discussion.
1t is a, fair presumption that the Eng
fish companies will not hereafter SUI
fer in the west, because they have
manifested a, disposition to leave to
the American voter the determination
of what to him seems best, and it
might be good business policy for do
meSt5c insurance companies to attend
to insurance. History has yet to record
any lasting error made by the Amer
lean people, and the intimation of the
money collectors and disbursers (for
this is all insurance companies are)
that the American people are in dan
ger of going wrong, does not sound well
coming from a source which derives it's
protection and the substantial benefit
C44JOy~o 4Ol5Il laws IlIuLC ny ZIG PSO-
pie whom these same collectors and
disbursers and lenders of money seem
now so profoundly to distrust.
Mr.. George f. Seward, president of
the Fidelity and Casualty company of
New York, which undertakes to write
all forms of liability and accident in
surance, including burglary protection,
has an article in the Weekly Under
writer of the 22nd inst. assaulting the
position of Mr.. Bryan. 1t is evident
from reading the article that whatever
intelligence Mr.. Seward may have ac-
quired in the line of liability, accident,
boiler, plate glass and burglary and
other insurance has not extended to a
point which enables him to discuss in a.
rational manner the financial problem
agitating the public mind today. He
makes much emphasis Of the fact that
the bimetallists are unable to tell when
the free coinage of silver at the ratio
expressed in the Democratic platform
will reach a parity with gold. Of what
moment this Interrogation can be per-
hapS Mr.. Seward can determine The
average man is unequal to the task.
He says that various countries have
tried bimetallism, and in no age of the
world and in no country has it succeed
ed. There are men of economic attain
ments who differ with Mr.. Seward.
Their opinion of Mr.. Seward may be
determined by the probable opinion Of
Mr.. Seward for them, but a man who
reads the history of the world is as
dead to it's significance as the ostrich
to its exposure when burying its head
in the sand, if he has not learned that
the civilization of thousands Of years
has come with the co-eXistence of a
bimetallic monetary condition. Chaos
does not seam to have existed in the
United States because both gold and
silver were primarily money prior to
1873, nor does history record a. single
instance where any civilized or partly
civilized nation has sunk into barbar-
ism through the operation of the BIZ
metallis monetary standard. The con-
ditions of bimetallism are not matters
of belief. They are conditions demon
strated by history, and those who
would demand a monometallic stan
dard are those who must first prove
that history has erred when it recounts
the glory of increasing civilization I'M
der the existence of the use of both
gold and silver by the most advanced
nations of the earth. For a man who
undertakes to criticise Mr.. Bryan's ar
guments, the unsupported statements
of this gentleman of insurance fame
are well-nigh ridiculous 1t is upon
him and his kind first to prove that
wages have increased in spite of the
fall in prices, and when he Establishes
that fact-granting that he has the
ability to do so-it will be necessary for
him to prove that the increase in wages
would not have been greater had the
bimetallic system prevailed. That is
what an economist or logician would
undertake to do, but for one who an
pears to have mastered all the mys-
teries of insurance, it would seem suffi-
Gent to him that all conditions pass
In perfect judgment before him. and
that his simple statement must be ac-
cepted by the grovellers who are un-
able to reach the pinnacle of fame at
tanned by such gentlemen. He saws
that interest has fallen far more than
any possible increase in the value of
gold, and by this fall the farmers who
have mortgages on their places have
secured great benefit" No doubt this
will be of profound comfort to farmers.
but there are gentlemen who have the
temerity to dispute the statement of
Mr. Seward; in fact, they turn to the
recent offer of bonds by the city of New
York, as well as to the sale of bonds
by the government, and show that in
terest is higher than it has been be-
fore AS a matter of fact, it stands to
reason that if there is any basis for
the economic law which is known as
supply and demand, then it will fol-
low THAI when money is scarce, as is
now the case, interest is high, and
when money is abundant, interest is
low. If it is easy to get money at this
date, there are many people who would
like to know of its whereabouts. The
fact is that the safest investments are
unstable today even at a. higher rate