Highland recorder. (Monterey, Highland County, Va.) 1877-1972, 1896-07-03
WHITNEY SPEAKS.
He is Not a Candidate For
the Presidency.
WORKING FORSOUND MONEY
History of the Free-Colnage Move
mont and thu Heresles of the
Doctrine-What Other
Countries Have Done.

William G. Whitney, OF New York, has just
made public statement in which he defines
the political situation. makes his position
clear AS regards his decision to remain in
this country instead Of going to Europe and
concludes by saying that he is not PresI-
dental impossibility; that he "would not
run if nominated, and would AOt serve ii
elected"
The statement in part is as follows
81 nn1 it necessary to make public
statement cmbodying my views on the 81 ua-
ton. to correct misconceptions and save
time now occupied in answering questions.
"Far too much importance has been at
tachcd to my decision to go to tho Chicago
convention.
81 have been practically out of politi 8 for
four years, and there are now many Eastern
Democrats who can do much more than l
can for the party. l shall not rs ume any
position of leadership. My decision to stay
was simply based on the duty Of every per-
SOD who believes in the party r its prin-
ciples. to stay 10y and lend his aid and take
his chances when the great crisis Is upon
the Democratic party. Fundamental dllIer-
ences of principles exist inside the party,
marked almost by sectional lines.
"The great question to my mind is whether
the party meets in convention now as in
1860. with issues and differences that are for
the moment irreconcl able. For the past
fifteen years leaders OF public opinion in the
South and West have been advocating as the
great remedy for existing ills the free coins
age of 81 yer at sixteen 10 one, with or with
out the cooperation Of other nations.
at has come to be believed in there, quite
generally and conscientiously. large
majority of the delegates to the coming
Democratic,convention have been elected by
the people for the purpose of incorporating
that doctrine into TIE platform of the Demo,
cratic party.
our people, on the other hand, entirely
disagree with these views ana believe almost
universally that 1t will bring general ruin to
the business aud prosperity OF the country.
DOUBLE .sTeNAFnD I,IrosAELE,
This movement for free coinage rurforts
to AVE FIR its object the estall shment
and maintenance OF ld AMI silver as the
money of tho country upon equal terms with
each other and at a parity of purchasing
power. If, by the proposed measure, that
object could v5 secured there would not be
substantial disagreement in the party
Every national Democratic p atform oh Il
has heretofore spoken upon the subject has
declared for both gold and silver money. 1t
is our traditional policy.
But tho maintenance of the double stand
ard at the present time is not question OF
desire; it is question OF ability The COM
mercial value Of silver has declined greatly
in the markets of the world.
Whatever the causes are and whoever i5
to blame the fact is that silver has declined
and free coinage now at 16 to is the same
as our Offering for all the silver in the world
about twice what it is selling for in the
market International exchanges have to be
paid in gold. And it would seem plain that
If We under these conditions, open our
at ratio Of comparative valuo which is
largely at variance with the commercial
value of the two metal3 we must take the
entire silver surp us ourselves, maintain its
parity with gold, or else we shall go to Il si-
yer basis
France, in 1913, c'qsed her mints against
! silver and abandoned this experiment,
deeming herself unequal to the tasI alone,
ani at that time it was much loss difficult,
for silver was then at par with gold at tho
ratio in use, and even England j mints in
India were opened to the free coinage Of
silver. II the experiment of maintaining the
| parity of the two metals at coinage stand
ard was difficult then, it wou seem to be
positively hopeless nov without internation-
al agreement.
Germany, France, Belgium, Italy and
Austria believe in double standard and de-
sire to establish it, but no one, two or three
of them deem themselves able to maintain
the double standard, even with the cooper
alton OF the United States.
MEANS DEMOCRACY's DEFEAT.
"Personaly It is my opinion If the Demo.
cratic party goes on that platform at this
time they will meet the most disastrous de.
feat that any party has ever had in this
country. ! understand it is honestly be-
ljeyed in and people think 1t will bring re.
lief from their present troubles; but between
now and election day it will be pretty thor
oughly sifted and the people of this country
will not face the disturbance of values, the
loss Of confidence, the general distress and
ruin which would come to their business In
such a change in their standard OF value as
would arise from such action And it will,
in my opinion, overwhelm tho persons who
undertake 1t.
NOT CANDIDATE
at ought not to be necessary for me to
say anything of personal nature. l find
myself, however, spoken of here and there
rs possible candidate; not very seriously
or prominently, but sufficiently to attract
attention, If 1 should fail to notice it. 1t
sometimes effects ones influence in cases
like the present | have no personal motive
In entering this fight. l have said that
would not be a candidate. l will add, copy
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