New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-16

dCavOr 10 put an cnd 10 me nlsOTucl rNo'"o ~
monetary and currency affairs. ao
The country cursed with political as well a., fnan-
cIal hcresy, certain phases Of which are ehties
foreign to our soil and altogether un- M
spring from and are directly imported from the III
statement an exaggeratlon .Nam,ne Nv ,hoir a.
programmes. as they are called, OF rurop' t az" ~
vocacy repudat ton OF debt the NATURALIZATION Oh
industries. progressive income taxes me % liz
OF alleged class anlmos.ties the feferendun thrr
regard Of the validity Of contract. Of egS'atNe ar
of legal forms and principles You VIII ma ' M,
counerparts In POpulist utterances ana IN thc NJ
their fitting representative. Mr. Bryan perhaps IN.
nocently but certainty is their most eteI aSiIed
upon to firmly oppose this anti American lnnGr,1e'
for in the Chicago platform Il directly, eNp,,Isi
party TO which we he,ong-prlncples believe es-
senal to the permanent welfare of the people
TwO-FOLD PERIL.
The peril which threatens us Is two-fold II Is III
the Inauguration next March of a wrong-heaueu
President and In the election next November Oh d
wrongheaded Congress. Legislation at Washington
In the last thirty years has impaired discretionary
powers to the Secretary of the Treasury previously
unknown. The President Is not thereby ieleas st
from his consfitutioral duty 10 take that the
laws faithfully executed but the Secfe'ar! oi VIC
Treasury now holds. under existing laws u.'i %
airy power the immediate critical point " , our
monetary affairs which IL the suspension OF sou pay
ments. Under the statute now In force II - primary
an executive question whether our paper doarS
In gold and in which coined dollars the interest," Oh
our bonded debt shall be paid. , -. 49,.
March refuse to pay gold dollars and tender Scent
silver dollars the aggrieved creditor may or may not
have the right to go to the judicial power for relief
he Senretar, Of he Treasury under the contention
of the Chicago platform, to decide whether the Ma
ons creditor sha'! have silver or goiu ne ' 81, a
Hnr T bass n NoGns 'e s than ann Woihr Of
gress the intervention OF the judicial power can
tive discretion Therein can be the iallacy OF
those Democrats who fancy they can WIN Sdices ~
the country and fidelity TO the Democratic parry
l. IL
Chicago platform and commend candidates for ION,
gress who will stand by the coinage law OF ls" ana
resist free coinage on ratio Of 10 to l. ,s
Thc nominees OF the Chicago platform are hound
hand and foot by it's two panks which insist. ilrst.
that the Government has AN option by law" al.
though no such law, exists to redeem our paper
denounces the issue OF bonds 70 obtain goa man IN
order TO avoid Il silver basis Whoever r eIse may
and Mir. Bryan VIII not. What was behind those
%Ro be nd GG% Mr.
Populist nomination for the Vice presidency, IN
him: Would the Senator set aside the law of con
tracts?' Mr. Butler said: This congress mas me
any gold notes or a gold contract made in the
country. I would make them unlawful # they call
the lawful moneys of the United States
BUFFERS INTERPRETATION.
The Senator's Interpretation of the Constitution
was eccentric 1t cannot be described as the States
rights Interpretation of jefferson. Madison and
fancy. lie carries the legal-tender power into
plan of irredecmable paper dollars made again
legal tender. as during the civil War, then the
in silver doIars no one can say the Chicago con-
vention did not explicitly approve Senator Buffers
ecccntriCites. The Indianapolis Convention was
right in its decision that no matter what Demo,
Gratis may say or do by way OF condemning and
ticket presented by the Chicago Convention must
be defeated because its nominees are pledged to
to open our mints to the free and unlimited coin
Is OF
created an increase in the value Of gold CORE
duccd BY the people heavy Increase Of debt. pub n
lie and private. the prostration OF industries and
sT merely uphoIds the gold standard Which IN 1854
was the only standard. II did not even change
under the Democratic coinage law OF 1858 What
was done in 1913 was TO make gold dollar piece
the coinage of full egal-tender syer-a right ill
in 1873 or for years prior to that large coneT , of
silver dollars, ii would be reasonable contention
gold b. diminishing the demand for silver money
Of secession drove US to greenback basis. w" WE
had not Altogether sl5CoOOoO Of fuIl legal-tcnder
that in 1850 we had over s25OOOOOoO in any kind
that we used as much coined sSer in Tss yer
years from 1875 to 1895 as in the eighty years from
The advocates Of the silver plank Of the Chicago
platform endeavor to create the belief that silver is
not much now used az money. but Mint Di-
rector alnrms that to-day nearly as much silver
as gold is used as money In the world lie also
silver dollars Were everywhere in any year coined
yet in 1893 quite Ave times as much was made into
money. We may well ask II silver has been any
whore demonetlzed since 1873.
Under the supervision OF the Senate Labor Com
mittee Carroll ID. Wright has affirmed that taking
20 articles as basis prices rose 36la points durias
to 1873 fell 1872 points between 1873 and 1882 but ONLY
42 points between 1873 and 1891. He says the aver
~. points, but agricultural products advanced the
only TWO that fell were cotton and wheat. Whila
9y h G" the ' " Of M has No See i
cause Of the rise and fall.
WHAT BRYAN THOUGHT ONCE.
Mr.. Bryan seems to have had a better idea OF this
subject when in the House III 1892 Abiding TO
taxes. he said of the fall in prices: You
must attribute 1t to the inventive genius that has
multiplied thousand times. in some instances the
strength of a single and enabled us to do to-
day with what fifty could not do fifty
years ago. That is what brought prices down In
this country and everywhere" Such were his
words before he became a Presidential candidate
The law of 1873 now In force cannot be said 70
have caused the prostration OF industries and i'm
poverishmcnt Of the people. BY nearly universal
sumption of a gold basis down TO the Sherman law
were years ot the most wonderful advancement our
to 1851 The truth is that the Chicago platform
utterly fails to show any connection between what
cause or between the law Of is7s and the fall Of
silver from 81 20 an ounc" to IS cents.
said? Not all the chief employers Of labor and
managers Of our Industries. whether engaged I'm
farming, producing or transport
ing commodities. all the money they require.
They must incur debts at home abroad. The |
Inventions and arrangements of the last half-cen-
fury for disposing collecting and storing by loan
the savings Of all the people are among the won
ders OF the times in which we live such reservoirs
OF savings. savings banks and National banks. are
used instead but those institutions must make the
money something. or no interest be paid
TO each deposition. Those reservoirs constitute an
important part Of the now condemned money
power They hold and invest the savings OF the
NTag e-carncrs and those TO whom paid salaries
and fees. many Of whom have not the knowledge
time opportunity tC wisely and safely invest for
tho msclvcs. 1t IS they who would most suffer by
the success Of the POpulists.
The Mckincy platform shirks the critical and /
porious fac. I'm our monetary disorder which Is tn.
existence Of 80 900 of greenbacks and Sher-
man notes. H. regard 10 which that platform pro-
poses adequate treatment. How are gold paw /
nenis To he upheld and 800 0o of greenhacks pre-
served? Are they TO be kept uncancelled and i'm {