Middlebury register. (Middlebury, Vt.) 1886-1937, 1896-10-23


1881 the American representatives de-
clared that bimetallism, with the CO.
operation OF France and Germany, was
all that was required. Under all the cir
cumstances ] believe that any active BIZ
metallic policy in the United States with
Mckinley as president is extremely inn
probable. The New York money power,
which supplies his campaign funds, will
demand in return gold policy on the
principle ito the victors the spois.'
Presently your farmers in America
and, after all, they are the backbone of
your nation will have too little left to
recruit this spolls policy any longer, and
then through depth of suffering reform
will come"
$50 that, DR.. Arendt. it is your view
that while free silver is less desirable
than a wide bimetallc union, it is lesser
evil than a permanent gold standard:"
Exactly. | should vote for Mr..
Bryan were in America. because re-
gard the alliance of Wall street and Nc
Kinley ominous of great disaster impend-
ing. The issue is not so much for or
against free silver as for or against
fresh exploitation of the people by the
larger capital class. And" continued
DR.. Arendt, "whlle | expect nothing in
the way of bimetallsm from Mckinley.
| think that a Bryan victory must keep
international bimetallism to the front.
Should silver rise to the parity and stay
there, the problem is solved should silver
continue as believe it will, to 1uctuate
around some point considerably below
the parity, then the economic difficulty
in Europe. the gold premium, that bar
rier to all that Europe exports to Amer
lea, will be so formidable that some action
will be secured in Europe to solve the
question forever"
And what do you think of the
methods of fighting on both sides?"
"There again find strong argument
for supporting Bryan. The republican
press is shouting for sound money,
honest money, is denouncing free silver
as reputation. Why, these are the
very lying arguments imported into
America from the European gold fanat-
les. This is the exact style of vituper-
alton with which we international BIZ
metallists are assailed every day in
Europe. If the gold party win by en-
ploying such arguments and such
methods, then they will afterward surely
endeavor to secure the lasting accept
ance of the gold standard"
"Do you think, then, that the failure
of the present free coinage movement
will result in throwing the United States
forever upon the gold Standard"
mo, because looking at the immense
Indebtedness of the United States, II do not
think the gold standard is possible, but
instead of the issue of legal tender silver
l should dread that under Mckinley the
country may be forced upon paper ba
, sis. Either that will happen, or else
after a series of further loans and years
of depression, much of the present load
of debt-railway capital and other in
investors-will be rubbed off by the in
solvency of American corporations.
, suppose a good deal of debt has already
fallen overheard in this way. Indeed
there can be no question but that this i;
So the comparative failure of credit il
America shows that
$40 you not suppose that credit with
in the United States may, as we are told
have collapsed because of the silver agi
tatlon?"
: mo, do not think so. You see tina
during the past few years the countrie;
with depreciating currencies, such as
Russia, India, and even Argentine, six
| years ago bankrupt, that these countries
have improved their credit in the markets
t of Europe very materially"
t "Do you think that free coinage viii
l bring the dollar to fifty cents.
. That is a statement so fantastic, ant
even wicked, that it must lose Mckinley
2 many votes. As foot rule is twelve
: inches so also is dollar one hundred
| cents: the terms are identical. VIVA
: the phrase means is something quit,
1 different; it means that the purchasing
f power of the silver dollar after fire,
coinage will fall by fifty per cent; ii
4 other words, that prices of commodltie
will double. OF course this is not tru,
= either. If the rise in silver is to lnvolv,
l any such rise in gold prices, then thu
e converse must also be true. namely, tina
e present great fall in gold prices. II
I other words, that because of the fall il
I silver, we are now using a two hundred
, cent dollar-a dollar which buys twc
p As much as twenty wears aOO Rut n