Omaha daily bee., 1896-08-15
soNr nRrAN

SOME BRYAN PALACES.
The intelligent reader OF Mr.. Bryan's
Madison Square Garden speech will
have no difficulty in detecting it's many
fallacious assumptions and assertions.
Mr.. Bryan talks Of the superiority Of
the double standard. When and where
has n double standard ever existed
France ~endcavorcd to maintain a
double standard and failed. She had
for a fine n circulation Of silver only
her mints being all the time open to
both metals. Our OWE experience has
been the anne Our coinage ratio of
IL to I. from 1892 to 1894. o~vcrvalued
silver and u~ndcrvalucd gold, with the
result that the circulation consisted Of
silver. The change OF ratio 10 1G to l
%overvalued gold and undcrvalued sill
YER. with the result that silver gradu-
ally retired from circulation as money.
Every nation that has ever tried the
experiment has had a similar expert
encc.
Mr.. Bryan talks of lesscning the
worlds stock of standard money. but
1t is not true that anything of the sort
tic statistics the visible supply of gold
In the world at this time amounts to
S2.2o1. 100000 and the increase in the
past five and n half years has been not
less than ST2G.OO0. 900. an average an
nual increase of about S132, 100000.
which has more thar kept pace with
the growth of population. liz 1895 the
gold coinage of Great Britain. Austria,
Germany. France and the United States
amounted to about S12G,O00 900. while
the Russian figures. not available, are
understood TO BE- large. The coinage of
the present year will he still greater,
because the production will be con-
siderably more than last year. These
figures show the abSurdity of the talk
about lcSsening the stock of standard
money. 1t should be remembered, also,
that silver is everywhere performing
the money function in larger volume
than ever before. the addition to the
silver circulation of the United States
since 1873 amounting to over S53S,OO0,
600.
Mr.. Bryan says that n gold standard
encourages boarding of money and dis
courages enterprise and paralyzes in
dustry. because money is rising. while
bimetallism would have the opposite
effect. According to this theory Mr..
Bryan's policy would discourage thrift
and saving among the people and Ill
u~uestionnbly such would be its effect.
for with Il currency steadily deprecint.
hand. 1t is Il stable dollar that we
want and the existing standard is the
most stable we have ever had. The
assertion that the gold standard dis
courages enterprise and paralyzes in
dustry is Furthermore completely re-
futed by the experience of this country
from 1879, when specie payments We're
resumed. to 1893, when the protection
destroying democracy came into power.
During those years this country realized
it's greatest material development and
prosperity.
The most ridiculous of the fallacies
offered by Mr.. Bryan to delude the un
thinking are his references to holders
Of insurance policies and depositors in
savings banks. OF the former he says
they know that since the total pre-
miums received exceed the total
losses "a rising standard must
be of more benefit to the com
panies than to the policy hold
ers,' the Inference being that they
should therefore be willing to take Il
53-cent dollar in order that the com
panies might similarly suffer. In re.
gard to the savings bank depositors ii
is remarked that they know that under
Il gold standard there is increasing
danger that they will lose their de,
posits, a proposition hardly tenable in
view of the fact that savings bank de,
posts have been steadily increasing
Notwithstanding the hard times. Yet
the admirers of Mr.. Bryan call him Il
statesman.
These are some of the fallacies of
Mr.. Bryan's speech in New York.
Others will receive due attention.