Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1896-09-03
rs TAKEN UP BY THE
NOTED BIMETALLIST
DIR, OTTO ARENDT.
AMERICAN FREE COINAGE
WOULD BE DISASTROUS
TO EUROPEAN Ma
TIONS.


ly published opinion that free coinage
by the United states alone would be
disastrous to bimetallism in Europe,
has written an extensive article for the
New York journal, in which he says:
DIR. ARENDT's LETTER.
"The people of the United States
have never been called upon to decide
question so impo' tant as that of the
coming presidential election.
"Persons and parties do not count in
this campaign at all-the great funda-
mental principles of modern national
life are at stake, Shall these be up
held, or shall they be trampled under
foot? This is the all-absorbing ques-
tion.
Europe, the mighty grandparent of
the young colossus, feels in her old
bones that the ballot boxes which are
soon to be set up in the cities and viii
lagos and hamlets of America, will
speak the destinies of her leading ma
lions.
"Never before was the dividing line
so sharply defined, and we understand
that the sovereign people of the United
States mean once for all to solve the
social question which has in late years
caused so many disturbances and I'M
happy conditions.
Look at the two sides and mark the
striking contrasts. Mckinley and his
votaries representing the party of So
called honest money and dishonest
profits, the party of trusts and monop-
olies, the party that brought the pill
lage of national resources for the ben
eft of capital to fine point and into
method on the one side.
'Their opponents we find under the
proud banner of Bryan. These are the
productive classes-w orlingmen and
farmers who refuse to permit themsel-
yes to be bled in the future for the
cause of the gold standard.
European bimetallists who have
been fighting the gold standard for
\inany years past regard international
bimetallism as the true solution of all
the questions involved.
"My own views on that subject I
have laid down in an essay published
in the June issue of the North Ameri-
can Review, when l gave it as my opin-
ion that the question of free silver
should be settled only after an inter
national agreement regarding the rel
alive values of gold and silver had been
arrived at; for at that time [ took it
for granted that both parties would
favor silver in their platforms, although
not to the extent of free coinage.
with respect to the possible candi-
dates, bimetallists, taking Mckinley to
be a thorough silver man, certainly re-
garded him with much favor. What
disappointment, however, came with
the st. Louis convention! TWAS obvi-
GUS that the spirit of that convention
was inspired by Wall street, while Nc
Kinley himself deserted the peoples
cause and closed an alliance, offensive
and defensive, with all grasping CAPT
tai.
"Heaven-high above him, unfettered
and unmercenary, rose Bryan, who at
once gained the respect and sympathies
of bimetallists the world over.
''If were an American citizen 1
would unhesitatingly vote for the peo-
pies champion.
america offers us the tantalizing
alternative between prohibitive tar
iff and silver standard. But our
money mOnopolists in this case harvest
the storm where they have been SOW.
ing the wind Their long continued
opposition to international bimetallism
is on the eve of receiving its proper
retribution. Bryan's victory will no
doubt prepare the way for an interna-
tional agreement.
"Seould Bryan be elected we, the BIZ
metallists, would gain formidable allies
while American bankers would certain
ly do all in their power to forestall the
depreciation Of American values by
backing our cause of international BIZ
metallism.
''Now, as to the prospects in Europe.
The possessors of all metal values
would influence the course to such an
extent as to cause capital to reconsider
its attitude toward bimetallism, where
upon the European governments may
be obliged to adopt bimetallism in or
der to restore confidence and equality.
i All Europe has formally declared that
bimetalIism shall not be introduced
without Britains cooperation. The
English cabinet, at Balfour's instiga-
, ton, decided March II that nothing
should interfere with the gold stand
ard. Balfour represents the remark
able and questionable view that no
change Of coinage should be imposed