, 1896-09-24

That the people of Laramie are a
tolerant and long-suffering people was
evidenced to its fullest extent last
evening at the Bryan headquarters,
where a democrat named Reedy from
the capital attempted to deceive his
hearers about the money question. III
he is a fair sample Of Cheyenne ora
tors" said a prominent democrat as he
came from the hall, they had better
keep them on the other side OF the
hill"
The alleged orator read from manu-
script. and one would have thought 1t
impossible to have crowded so many
misstatements into the brief address
which he made; he was an artist in that
line, if in none other.
AS usual, he started in with the be-
ginning of the republic and paid a tri-
butte to the memory of Jefferson. but
he failed to quote Jefferson's advice
when the question of parity was before
congress III Ills lliV
yised the nnanciers of congress to go
into the markets of the world and as
certain the exact value of the metals
and base the coinage of the government
upon the actual value, but the speaker
of course said nothing of this. Mr..
Reedy made a very weak attempt TO
prove how silver would at once ad-
vance to $1.29 per ounce in gold if the
minis of the government were opened
to free coinage. 1t would furnish an
unlimited demand for the product OF
the silver mines, and therefore no man
would sell his silver bullion for less
than he could get at the mints. he said.
This theory has been exploded a good
many times in Laramie, and everybody
who knows anything at all about the
subject will admit that an open mint
would not furnish an de-
mand for silver at $1.29 per ounce in
gold. The demand for silver would be
limited by the use of silver money,
which would have to come In competi-
ton with other more convenient forms
of currency. There is absolutely no
proof whatever that the demand for
silver coinage would increase at all.
II the bullion value of silver should
be the same as the coinage value, n
1t is s~elf-evident that it would be,
there would be no inducement what
-- r.. A.. t,,ll;,, u-r 10 change
the product of his mine into coin at the
government mint. 1t would be Just as
profitable and more convenient to keep
1t in the form of bullion. This argu-
ment Is refuted by Mexico. in which
country there is less than S. per capita
in circulation with an open mint.
Mr.. Reedy refutcd his own argument
about the metals remaining at a parity
by showing why it was that Jefferson
stopped the coinage of silver in 1903.
He said it was because the silver in the
dollar was worth more thar the gold in
the dollar at that time and therefore 1t
was bought up by spectators II
shipped abroad. He did not explain
why, II the government was unable to
maintain the parity Of the metals then
it would be able to do 1t now, and he
also Called to explain why there was no
serious and disastrous shrinkaSe in
yalues during the 80 years which fol-
lowed this act of Jefferson in denying
free coinage of silver at the minis,
during all Of which time there was not
a silver dollar put in circulation.
To further bolster up his bad case in
regard to boosting silver 10 >l.29 per
ounce, Mr.. Reedy said that France had
maintained the metals at Il parity for
80 years. He did not say that Franco
changed her laws 113 times during that
period in a vain endeavor to keep the
metals at a parity and then gave the
effort up in disgust. Since 1873 France
has coined on government account. and
not free for the bullion owners.
Mr.. Reedy said it was unfair for re-
publican orators to say that only S.
OOO, 900 silver dollars were coined be-
fore 1873 without stating the fact that
more than 500 900. 900 Of subsidiary
coinage was added to the currency.
Every republican speaker who ad-
dressed a Laramie audience upon the
subject of finance this year has fully
explained this matter, and they have
also explained that there was not a dol
lar in silver circulating in the United
States for many years prior to 1873.
MI. Reedy was dishonest in not telling
the people last night that since 1873
there had been coined more than $400.-
OOO, 900 of silver in the United States.
All in all, his address was about at
a parity with the second cook who ad-
dressed the people at the corner OF
Second and Thornburgh. All he SEEM
ed to have impressed upon his mind
was the popocratic cry that John Sher-
man struck dyown half Of the primary
money of the world, and that this aw-
full crime Of the republican party would
go laundering dyown the centuries as
the most a~trocious act of civilization
The audience was a very cold one,
and was rarely moved to applause by
the rooters. AT 20 minutes to 9 the
]. ". STRIKER,