Cottonwood report. [volume] (Cottonwood, Idaho) 1893-1901, 1896-06-26

which he defines the political situation
and makes his position clear as regards
his decision to remain In this rountry
instead Of going to Europe ana Concludes
by saying that ne - iaok presidentill
posslbility that he rou|F not run II
nominated and would not serve If ele't-
ed"
The text Of the statement is as follows:
II and II necessary. to make a public
statement embodying my views on the
situation, to oorrec- misconceptions and
I save time now occupied in answering
questions Nar too much Importance has
been attached to my decision to go to
II have been practically out of politics
for f6fr years, and there are now many
easteFn democrats who can do much
naof6 than l can for the party. l shall
n6{ assume any position of leadership.
~ decision to stay was simply based on
&he duty of every person who believes IN
The party and for its principles, to stay
by and lend his aid and take his chances
when the great crisis is upon the party
Fundamental differences of principle ex-
list inside the party, marked almost by
\ feEtlpnalism.
&s:Yhe. great question to my mind Is
@6efheE the party meets in convention
f0w, as in 1860, with issues and differences
that are for the moment irreconcilab.e.
4 lror the past Is years the leaders OF
3 publfc opinion in the south and west
have been advocating as the great rem
edy for existing ills the free coinage of
silver at 16 to 1, with or without the CO.
operation of other nations.
ut has come to be believed In by these
men quite generally and conscientiously.
A large majority of the delegates to the
coming democratic convention have been
elected by the people for the purpose of
Incorporating that doctrine into the plat
form of the democratic party
'Our people, on the other hand, en-
tirely disagree with these views, and be-
lieve almost universally that it will
bring general ruin to the business and
prosperity of the country 1t Is deemed
new doctrine when proposed to be
Incorporated into the platform of the ma
tional democracy. 1t Is true that in no
previous platform of the party can It
specifically be found Consequently no
party obligations heretofore assumed
oblige them to subscribe to It, Under
these circumstances II the results of the
democratic convention should be to es-
ldOitSii an ISSUE Vi tiSll Sdihpuibh' tiS
free coinage of silver at ratio of 16 to
J. Independent of other nations, in the
intensity of feeling likely to arise. it is
to be seriously apprehended that dis
ruption of the party might occur. Ger
tainly no substantial following could be
secured for the doctrine among eastern
democrats. They might not vote the re-
publican ticket for other reasons, believ-
ing that the republican party stands for
other issues that are detrimental 10
the country, but the democrats In the
east would not, In my opinion, vote for
1t.
This movement for free coinage pur-
ports to have for Its object the establish
ment and maintenance of gold and silver
as the money of the country upon equal
terms with each other and at u parity
of purchasing power. II, by the pro-
posed measure. that object could be Sc
cured there would be no substantial dis
agreement in the party. Every national
democratic platform that has heretofore
spoken upon the subject has declared
for both gold and silver money. 1t is
our traditional policy But the mainten-
ance of the double standard at the pres
ent time is not question of desire, 1t
Is q question of ability The commercial
value of silver has declined greatly in the
markets of the world.
Whatever the causes are, and whoever
! is 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 1t Is
selling for in the market. International
exchanges have to be paid in gold, and 1t
would seem plain that If we under these
conditions, open our minis to the free
coinage of silver and gold a. ratio of
comparative value which is largely at va
rance with the commercial value of the
two metals we must take the entire sill
yer surplus ourselves, maintain it's parity
with gold, or else we shall go to silver
basis.
ut Is felt, aside from the absence of
any democratic principle to sustain 1t,
that you can not have such a disturbance
OF value as would come from changing
from gold to a silver basis without such
shock to confidence, the boarding of
gold and contraction of our available cir
culating medium as would bring. in the
opinion of our people, the greatest panic
and distress we have ever seen In this
country. The creditor classes are pre-
pared for 1t. The obligations and mort
BdSeS VI raitrodus anu otnerWlSe are quite
generally payable in gold. Debts would
still have to be paid in gold, but wages in
silver. The sufferers, as usual, would be
the poorer classes.
This movement, purporting to be in
the interest Of the joint standard, comes
at most fnopportune time in my opin-
ION. There has never been a time when
the prospects of international action IA
vorable to a joint standard were at all as
promising as at the present moment. But
an ill-advised, unsuccessful attempt would
discredit the cause the world over.
THE recent article of DIR. Ahrendt in
the North American Review shows very
clearly the view taken by our friends
abroad upon this subject He has done
much. and probably more than any living
man. to advocate and bring to its domi-
nation In Germany this nausa La L. -.