The morning times., 1896-10-18

but We are not in
ARE WE the deepest alter
yet Ifsilver ins
IN this fall 1t " i'll be
one of the great
STATE on est disasters that
VI ever befell the
HYPNOSIS? TAR farmers. ,ns "a, ! have ave
ooo- years nearly $780,
many Instances payments have been met,
Dut Tor few years | have been COM
peiied To extend the time. and | AIN Will
ing TO do So under our present financial
basis. but if silver Wins this fall I will do
What every other man Nui go who has
money out, demand immediate payment
! anInit may loose Some of the interest,
Dut have at least three years to save
myself, and during that time | W ill close
~ on every mortgage | have"
My triebds, | want To denounce the
money lender 10 attempts to use his
mortgages TO intimiiiate American citizens,
ana say that that man does not deserve
TO live In a land here men are free and
have right tu liberty. When yoii admit
that il is necessary To go To the money
lender and obtain his consent before YOU
can pass law, then you have passed from
democracy To n rlutocracy, and liberty,
rs We have understood 1t. has fled from
the nation. l want you To understand that
these men. knowing that they cannot an
peal TO reason. attempt tn appeal to force;
fese men. EnnWlap shat tlplr arguments;
do not appeal to Judgment attempt to an
neal to the fears OF men.-Mr BRYAN at
Benton Harbor, Mich.
When a highwayman plies his calling
and "hUlds up" people, vigorous efforts
are made to capture and iinprison him
For weeks Mr.. Bryan has been travelling
through the country denouncing money
lenders and money-changers. He has at
tempted TO arouse public opinion and
rob them by returning their loans in a
deprecated money. Is it unusual or strange
that money-lendcrs should oppose his cleo
[ ion?
For once The Times desires to go on
record as "A prophet. Should MIR. Bryan be
elected money holders generally Will rot
only foreclose mort gu gcs, Hut there VIII
be the most distressing ranic the world
has ever known. Students of the financial
situation should be able to forcsec this
calamity. A run Oh our gold reserve will
deprive Uncle sam of all lis specie excer;
Il few millions Of silver There will be
notliing left in the Treasury but grccnbacks
and a quantity Of standard dollars and
bullion that belongs to certificate holders.
What woald he the effect OF such a none
tary condition on the country? How could
the government meet lis redemption Gbli-
cations? suppose tile panic should frightcn
certificate holders into demanding their
silver. The Treasury would be compelled
to destroy the certificates as fast as
redeemed, and the monetary system OF
this great nation would then be reiuccd
tu less than $500 coo. 90, of deprcc lated
paper currency.
Yesterday. October Il the Treasury daily
balance sheet showed $l22.619,s45.56 of
gold. S13.57 5.ssT.s2 Of silver, S57 .664. :
io2 Of United states notes. and sac, ,36s.-
SIC Of disbursing officers balances. checks.
drafts, and other items. The total avail
able cash balance including the gold re-
serve, was S236, 22s ,4sl63. The total re-
ccipts for the day Were $3.50 .4O7 10. and
the total expenditures 81 .2s0, 700, show
ing a deficit If S340 5S2S5. The total
htihiN slHtt oos l'"Ds llC
If the fiscal year. has been Sa3 262. .939. .O3.
is his a good showing with which to he
gin the uncertain experiment Of free silver?
Where are we to get specie should Mr..
Bryan be elect ed: Our mintagc facilities
are only $40. .OOO, ,0COa year Gold would
he driven out of circulation. Congress
would not authorize the purchase Of bullion
with certificates. because there is not
free coinage. Where is our specie To come
from? The Times offers $500 for a salts
factory answer.
The line Is drawn between those who
believe that this country is big enough 10
attend TO its own business and those " no he
lievc that we must accept W hatevcr policies
foreign nations will permit us to have. The
issue cannot be avoi,ied OF evadcd There is
no middle ground. When you have to de-
eide between the gold standard and hi
metallism you have got to take one side
or the other. We have either got to have
the gold standard, which permits dollars
TO rise in value and makes the rich become
richer and the poor poorer. or We have
got to restore the money OF the Constitu-
tion and keep this still a government of
the people by the people and for the
peupie,-Mr. Bryan, at Dowagiac, Mich.
There never has been, and never Will be
practical lasting exhibition OF bimetallism
under free coinage. The United States
tried TO enforce that policy for eighty one
years and failed, and The Times again
offers 5000 for proof to the contrary.
monetary standard by electing Mr. Bryan
| there will be no middle ground to choose
We Will fall through cataclysm of dis
| aster into the depths of bankruptcy and
ruin. The people, who are now supporting
| the silverrc cause will necessarily bc made
| the worst sufferers. Rich men can spare
| cupboard; but the masses depend on daily
| labor for food, and when wages cease
| working people must either beg or starve
| Is it sensible TO talk financial independence
| under such circumstances? Is there any
| wisdom demonstrated in drawing a line
| between business men and wagc-carners.
| VIII il put bread on the table OF wage.
earners TO destroy our industries by bring
| ing on n panic?
| Perhaps the worst rot Mr. Bryan serves
out 10 his auditors is his appeal for a
restoration of the money of the Constittl.
ton. From 1892 to 1884 our money and
| our standard of value was silver From
1884 to l s61 our chief money and standard
| of value was gold. From 1861 to 1875
we circulated paper money but used the
gold standard. From 1878 to the present
time we have used gold and silver none,
| in nearly equal quantities, besides circu