The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-08-13
BRYAN, THE ELOQUENT
tconcluaed from rhlrd Page.


Il do not agree with the Secretary
that 1t was wise TO follow a bad prece-
dent. but from his answer it will he
seen that the fault does not lie with the
greenbacks and Treasury notes, but
rather with the executive officers who
nave seen lit to surrender right which
should have been exercised for the pro-
lection of the interests of the people
This executive action has already been
made the excuse for issuing more than
$3.50 0o.0OO in bonds. and it Is impossi-
bic to estimate the amount of bonds
which may hereafter be issued II this
policy is continued.
"We contend that free and unlimited
coinage by the United States alone will
'aisc the bullion value OF silver Ia its
coinage value, and thus make silver bull
lion worth $l.99 per ounce in gold
throughout the world This proposition
Is in kecpinE with natural laws not In
defiance of them. The best known law
of commerce is the law of supply and
demand We recognize this law and
build our argument upon 1t. We apply
this law to money when we say that n
reduction in the volume of money VIII
raise the purchasing power of the dol
lar. We also apply the law of supply
and demand to silver when we say that
= new demand for silver created by law
will raise the price of silver bullion.
Gold and silver are different from other
commodities. in that they are limited In
quantity. Corn, wheat, manufactured
without limit. provided they can be sold
at price sufficient to stimulate pro-
duction. but gold and silver are called
precious metals, because they are found, /
not produced"
There is only one way TO stop the in |
creasing fluw of gold from our shores, |
and that Is 10 stop the falling prices. |
The establishment of blmetallism will
not only stop bimetallism ETA OINSH |
not only stop falling prices. but will-to |
SOME extent restore prices by reducing |
the worlds demand for gold. If it is |
argued that rise in prices lessons the |
value of dollars which we pay to our
creditors | reply that in the balancing |
OF equities the American people have |
as much right 10 favor a financial sys-
tenn which will maintain or restore |
prices as foreign creditors have to in
sist upon financial system that will
reduce prices.
Perhaps the most inconsistent misre |
presentation that we have to meet is the
charge that we are advocating the pay
ment of debts in 50-cent dollars. At the
present time and under present laws q
silver dollar when melted loses nearly
half its value. but that will not be true
when we again establish mint price
| for silver and leave no surplus silver on
| the market to drag down the price of
bullion. Under bme tallism silver bull
| lion will be worth as much as silver
| coin, just as gold bullion is now worth
as much gold COIN and I'VE believe
| that silver dollar viii be worth as much
as a gold dollar
The charge of reputation comes with
poor grace from those who are seeking
10 add to the weight of existing debts
by legislation which makes money dear
| er and who conceal their designs under
| the euphonious pretense that they are
UNFOLDING public credit and matrimonial
honor.
In answer to the charge that gold
viii go abroad. it must be
rendered that no gold can leave
| this country unless the owner of
;hc gold receives something in return
| for it which he would rather have.
1t is also argued that since number
| of nations have demonetized silver no
| thing can be done until all of those
nations restore bimetallism. This Is also
| illogical.
In reply TO the argument that i'm
| proved machinery has lessed the cost of
| producing silver, 1t is sufficient to saw
| that the same is true of the production
| of gold, and yet, notwithstanding that
| gold has risen in value.
If 1T Is asserted by our opponents that
| the free coinage of silver is Intended
| only for the benefit of the mine owners
| 1t must be remembered that free coin
| age cannot restore to the mine owners
| any more than decentralization took
| away; and it must also be remembered
| mat the loss which the demone tization
| OF silver has brought TO the mine owners
| Is insignificant compared to tho loss
| which this policy has brought to the resi-
! of the people.