Mexico weekly ledger., 1896-08-20

-Ine professional elasses-in the main
receive their SUPPORT from the pf2auS.ns
| there Is prosperity among those VINO cree
Mr. Rryan said that the assertion of the
| Opposition that q bank belongs to the
debtor class is not true or any solvent
bank. Every statement published by q
coed the liabilities, and, he continued. when
q dollar is rising In value slowly a bank
ing good security, avoid loss; but, when
prices are falling rapidly, the bank Is apt
can gain by the increase In the purchasing
power of its capital and surplus.
Benehciaries of q Gold
Passing briefly over this point, Mr.. Bryan
said: Let me say a word now in regar
Gifted BY a gold standard and who favor il,
not from a desire to trespass upon the
rights of others, but because the cireum-
to the effect OF the gold standard upon
others. l shall ask you to consider the
language of two gentlemen whose long
party to which they belong wifi protect
them from adverse criticism by our OPP
| ponentS. In 1863 Senator Sherman said:
It must be admitted, however, that some
bankers combine the business of a bond
broker with the ordinary banking business.
/ and these may make enough in the negotia-
ton of loans to offset the losses arising in
legitimate banking business. As long as
! human nature remains as IL Is, there Will
always be danger that, unless restrained
| by the public opinion or legal enactment.
those who see a ~pecuniary profit for them
| selves in a certain condition may yield to
the temptation to bring about that condi-
ton. Jefferson has stated that one Of the
main duties of government is to prevent
men from tnjuring one another, and never
was that duty more important than 1T is
to-day. 1t is not strange that those who
I have made a profit by furnishing gold to
| the government in the hour of its extremi-
ty favor a financial policy which win keep
the government dependent upon them: l
ment of the vast majority of the people, OF
the United States when 1 say that a wise
financial policy administered in behalf of
all the people would make our government
Independent of any combination of inan-
cfers, foreign or domestic.
What Sherman Said.
"The contraction of the currency is a far
more distressing operation than senator's
suppose. Our own and other nations nave
Is not possible to take that voyage Without
the sorsst distress.LTo every person, ex.
officer or annuitant. it is a period of loss,
Hanger. Iassitude of trade. fall of wages,
suspension OF enterprise, bankruptcy and
disa ster. 1t means ruin to all dealers whose
debts are twice their business capital,
though one-third less than their actual
property. 1t means the fall of all agricul-
tural production without any great reduc-
ton Of taxes What prudent man would
care to build a house a railroad, a factory
RRiimf9" A'" WY" e"'' certain 1'''
Mr.. Bryan continued. AS / have said
before, the salaried officer referred to must
be the man whose salary is fixed for life,
upon business conditions. When MI. Sher-
man describes contraction of the currency
az disastrous to all the people except the
capitalist ont of debt and those who stand
in a position similar to his. he is stating a
truth which must be apparent to every per-
son who will give the matter careful con-
sideration. Mr.. Sherman was at that time
speaking of the contraction OF the vol
/ flma Of nAnaf cIIrFAnpN- hut the Dr1nC1DlG
which he set forth applies, If there is a
contraction of the volume of standard
money of the world. .
BIaine's Wow.
Mr.. Blaine discussed the same principle
in connection with the demonstration OF
silver. Speaking in the house of represent
81 believe the struggle now going on in this
country and other countries for a single
gold standa would, it successful. produce
widespread disaster In and throughout the
commercial world: The destruction of sill,
as the sole unit of value must have a ruin
Gus effect on all forms OF property, except
in money. These would be enormously en-
HANGED in value and would gain a dispro-
portionate and unfair advantage over
Is 1t strange that the holders of invest
ments which yield a fixed return in money!
can regard the destruction of silver with
complacencyf May we not expect the hold
ers of other forms of property to protest
species of property" II the relatively few
whose wealth consists largely IN fxed In
vestments have a right to use-the ballot to
enhance the value Of their Investments
have not the rest of the people the right to
the disastrous consequences of a rising
standard?
Dollars That Grow Not Wanted.
What shall it profit US to have a dollar
such q dollar lowers the standard of oiv-
tlizatton and brings distress to the people?
our credit by Increasing the purchasing
power of one dollar, we destroy our ability
TO pay the debts already contracted by low
ucts with which these debts must be paid?
Will No Longer Be Borrowers.
If # is asserted. as It constantly is as
serted, that the gold standsrd WI enaPie 2
E wfi rs shss The he Sesii9ya bstSSs e 9 mone1 ana
betty which VIII nab shsAmsTiSan 60;
OF perpetual borrowers.
h Free Coinage Means.
Is against the maintenance or a gold
standard, either permanently or until other
.hatieGpssi oe can an be H1 united for It's oTsrsnrow
emphatic demand FOR the immediate
restoration of the free and unlimited coin;
sssslo % o. si sizts sao t e0t one g. WIZ Wft6Ro osts waiting iisEas
for the aid or consent Of any other nation;
be triedi we. are insisting upon a return
to q financial policy approved by the ex.
the epre min statesmen snI 81 our nation
from h days Of the first president down
When we ask that our mints be opened to
the free and coinage of silver
f tata I'll 9b asg ahs se same m mGne pyri Ta are f se ess
so fdso When " ei' we ask that this Coinage Be
ask that our gold coins n the standard
silver doiiar-which, be It remembered.
as the frst silver dollar coined at our
bm~ints-retaiu their present weight ana
The theoretical advantage. Of the BIZ
metallic system is best stated by a EURO
peaa ez Wri fSs ,o Sh pGathiIia ustretion: 4 river
fed from two sources is more uniform IN
volume than a river fed from one source
feeders Hi is swollen the other may b low;
whereas, a river which has but ONE feeder
the case Of bimetallism. the volume of
metallic money receives contributions from
both the gold mines and the silver MINES n
resting Upon two metals is less Change
able ID its purchasing power han the dol
Actual Necessity for Bimetaliism.
There is an actual necessity for bimetal-
lism, said Mr.. Bryan. as wei as 2 51eoreI.
iesi aefsmsf hs as i D ereassin nse an ias additfeaai
Demand for goif; - and nd this ,hc-a lsT s,na fhe p 1r-
restoration of bimetaIlism in the United
states will take away from gold Just SO
much of its purchasing power as was ADDED
! to II by the demonstration of silver by
! the United States. The silver dollar IS now
: held up to the gold dollar by legal-tender
! laws and not by redemption in gold, be-
! cause the standard silver dollars are not
! now redeemable in gold either in law OF by
! administrative policy. We contend that
: free and unlimited coinage by the United
: States alone will raise the bullion value of
I silver to Its coinage value, and thus make
9 silver bullion worth So per ounce in gold
3 throughout the world.
: international Bimetaliism.
Mr.. Bryan devoted much attention to ths
subject of international bimetallism. In
ternational bimetallists, he said, believe
that several nations by entering into an
4 agreement to coin at q fixed ratio all the
: gold and silver presented, can maintain
: the bullion value of the metals at the mini
= ratio. When a mint price Is thus estab-
9 lished it regulates the bullion price, be-
cause any person desiring coin may have
0 the bullion converted into coin at that
9 price, and any person desiring bullion can
secure 1t by melting the coin. The only
I question upon which international bimet-
: allists and Independent bimetaIlists differ
I Is: Can the United States by the free and
q unlimited coinage of silver at the present
8 legal ratio create a demand for silver
Q which, taken IN connection with the de-
mand already In existence, will be suffi-
Gent to utilize all the silver that will be
presented at the mfnts? They agree in
: their defense OF the metallic principle and
4 they agree in unalterable opposition to
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