The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1896-09-24

AUK
and further insisted upon this policy as
necessary for the protection Of
the farmers and laboring classes, the
first and most defenseless victims OF un-
stable mone. and fuctuating cur
rency." A
Tried by the test submitted to you
neither Mr.. Bryan nor the distinguished
senators are Democrats. You are un-
fortunate in your choice OF a standard.
The National Democratic platform
iavors such use OF silver as is consistent
with safety, but adheres to the gold
standard. Is this Democratic?
This country vas placed on gold
basis by the Democratic party in 1884,
Andrew jackson being president, and
there it has remained ever since except
ing during greenback times. What is
the record? Our first coinage law fixed
the ratio at 10 to l. Gold was over:
valued and did not circulate as money.
In 1884 the ratio was changed to 16 to
l, gold being overvalued. That this
was done deliberately and with Jack
sons full knowledge there can be
no doubt. Senator Benton was the
recognized representative OF the adj
ministratiou on the floor OF con-
gress. He knew, as they all knew,
that fixing the ratio at 16 to was over,
valuing gold. That was not the market
ratio and the effect would be to drive out
silver and bring in gold. The bill was
known as the GOLD BILL-Mr. Benton
said:
"To enable the friends OF gold to 60 to
work at the right place to effect the re-
covery of the precious metal which their
fathers once possessed, which the sub
jects of European kings now possess,
which the citizens of young republics now
possess, but which the yeomanry OF this
America have been deprived of for more
than twenty years and will be deprived
of forever unless they discover the cause
OF the evil and apply the remedy to it's
root"
The Washington "Globe" is reported
rs commenting on this bill as follows:
Contrary to their will the bank party
even in the senate have been obliged to
vote for the measures OF the administra-
ion deemed essential to carry out it's
policy. By public opinion they have
Deen forced to vote for the GOLD BILL
which is measure OF deadly hostility to
the bank, will supercede it's notes and Is
the harblnger OF a REAL SOUND CUR.
RENCY. The people are now enabled to
understand the policy of the administra-
ton and to see that it would give them
GOLD instead of PAPER"
This law passed the House by vote
Jf 145 to SO; the senate by vote OF IS
TO Z, Daniel Webster voting for it. 1t
was approved by Andrew Jackson, that
great Democrat, June %, 1884. Will
any one suggest that the statesmen who
carried through this measure did not
know what they were doing? "Silver,
whatever may have been the purpose of
the administration, was shelved out of
sight. In the final onslaught the white
metal appears to have had no friend to
wish it we'll as it departed
Again, the act OF 1853 which reduced
the subsidiary coinage Z per cent amp
provided for coming silver on govern
ment account was fully discussed in con-
gress--Mr. Shelton OF New Jersey is re-
ported as saying, "Gold is the only
standard of value by which all property
is now measured. 1t is virtually the
only currency of the country" And
again in reference to another plan sug-
gested-"We would thereby still con-
tinue the double standard of GOLD and
silver, thing the committee desire to
pbviate. They desire to have the stand
ard currency to consist OF gold only, and
that these silver coins shall be entirely
subservient to it, and that they .shall be
used rather as token than as standard
currency"
Mr.. Durham who had charge of the
bill, said: Gentlemen talk about a
double standard as thing that exists
and that we propose to change. We
have had but single standard for the
last three or four years, that has been
and now is gold. We propose to let it
remain so and to adapt silver to it to
regulate silver by It," In answer to
another plan the same speaker said:
ave would thereby still continue the
double standard of gold and silver, o
thing the committee desire to obviate
THEY DESIRE TO HAVE THE
STANDARD CURRENCY TO CON-
SYST OF GOLD ONLY, and that
these silver coins shall be entirely sub
servient to it, and that they shall be
used rather as tokens than as standard
money"
A word regarding private conversa-
tions with yourself which you have
seen fit to print. AS to- the state
ment that "could make better fire.
silver speech than gold one" you are
we'll aware that this expression was used
in a joking way in conversation with
you, and you are also aware OF it's ,meaD-
ing, as explained to you at the time,
that there were many plausible silver
arguments for silver that men easily
presented, but you very well know al
ways claimed they were unsound. Since
hearing Mr.. Towne l have concluded
they are not even plausible.
You renort me aa saving. "This coun-