The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1896-10-14
Mr.. Bryan to the Pensioners.
From the Philadelphia Record.

From the Philadelphia Record.
In his speech in Indianapolis Mr.. Bry-
an undertook to console the pensioners
| for the prospective 53-cent dollar with
this happy suggestion: "If the soldier
looks at the money question merely from
the standpoint of his own interest he
| must remember that his pension is only
property, aud that il he legislates the val
! ne of the dollar up while he raises the
purchasing power of his pension be viii
decrease the value of Whatever other
property he has, This is the most naive
! and candid confession that the Popocratic
! champion has yet made of the effect OF
free silver coinage 10 decrease the pur-
chasing power of the soldiers pension.
To have been entirely candid, however,
he should have added that the value of
the silver dollar, or its purchasing power
would be decreased to the value of the
, cents to-day; but neither he nor any one
| else can predict that it might not fall still
| lower after free coinage.
But 10 the veteran who may he fortu
nate enough 10 own small farm, or "A
horse and COW, or ''other properly" Mr..
Bryan gives the pleasing assurance that
this ''other property would be enhanced
in value by free coinage. and that he would
thus be more than compensated for the
| decline in the purchasing power of his
pension. The value of the Government
pension OF sl2 or SIS month would be IA
small matter in comparison with the in
flated prices which the Popocratic candi-
date promises to the farmer pensioners of
Indiana and Illinois for their wheat and
corn. The inflated prices which these
pensioners would be obliged to pay for
farm implements, household furniture
and clothing for their families are, of
course, excluded from the account.
To the pensioners who have no farms or
''other property Mr.. Bryan presents the
higher consideration that ''by raising the
purchasing power of their pension they
must remember that they are condemn
ing their children and their children's
children to the injustice of gold stand
ard.r Such an appeal to the benevolent
| impulses ought not to be lost on the vet
them 10 gently submit TO the chipping of
the purchasing power of the money with
which these pensions are paid in order
that the like blessing of deprecated cur
rency and the like relief from the gold
standard may be transmitted to future
generations This, it must be said, is
taking long look ahead. But in mat
er of this kind coming generations may
be well left to take of themselves. Pos
terity ~ exclaimed another great states
man of the Bryan class on a similar oc-
casion; "what has posterity ever done
for us?" 1t is enough for the veterans to
learn from the heresiarch of Adulterated
Money and liquidation himself that free
coinage would decrease the purchasing
power of their pensions. The veterans
will be apt to think of il before submitting
To this process of depletion for the more
than dubious benefit of posterity.
While Mr. Bryan was thus haranguing
the pensioners and giving the case of free
coinage away voice in the crowd ex-
claimed that the greenbacks with which
the soldiers were paid in the civil war
were ''worth forty cents on the dollar"
Upon this the Popocratic candidate said:
''rhe very men who are now so much
afraid that the soldier will receive his
pension in 80 cent dollars were not afraid
to pay him for his service in Accent dol
lars measured by gold.' The cases are
not parallel, although the results of free
silver coinage would be the same as were
the results of the greenbacks issue.
The issue of greenhacks was mistake
growing out of the sincere belief that the
Government credit would be strong
enough to maintain them at parity with
gold but like experiment Of free coin
age in face of that lesson would be a
crime While few predicted the effects
of the greenbacks issue, they were un-
needed, just as the Silverites persist in
rejecting the same counsels now. But no
one desired that the greenbacks should
depreciate, ani thus rob thu soldiers, the
wage-earners and all having investments
of savings. As the credit of the Govern
ment revived the greeEbacks gradually
appreciated in value until they were
finally redeemed in gold.
Free coinage of silver, on the other
hand. with the full knowledge of its con-
sequences, would be deliberate and wan
ton robbery. The greenbacks were is
sued with the honest intention ofredeem-
ing them in gold; bIt there is no such in
tention in regard 10 the silver dollars. So
far from it. free coinage of silver would
relieve the Government of the obligation
and at the same time deprive il of the
power of redeeming this adulterated mon
ey in gold. That Is the difference between
the greenbacks and free coinage; and
Mr.. Bryan would have perceived that all
the advantage in the score of financial
morality is with the greenbacks had he
not become completely blinded by a
fanatical rage against the gold standard of
value, under which every man receives
| that to which he is entitled in the eN-