The morning times., 1896-08-14
MIR. Bryan's New York Speech.

Mr. BryanS New YORK speech.
Inasmuch as Mr.. Bryan is the authorized mouth
piece of the sverite party, his New York speech in
reply te notification committee must be accepted
fully defining the principles and arguments with which
his party expects the suffrage of the public
Without wasting time refer the income tax and
trust questions which he ably presented and which The
TIMES fully indorses, let briefly review the declara-
tions and assumptions Mr.. Bryan made the silver
question: for in point of importance the other issues
sink into comparative insgni6cance.
Shorn of its generaties and bereft of false
ing there is little in Mr. Bryans argument for silver
that will recommend it to voters. He insists that the
country needs bimetasm instead of gold standard.
and attributes the universal fall prices to advance
the value of gold without substantiaug his state
with facts No to dispute the assertion
that bimetasm is better than single standard. but
every deeply interested in ascertaining how the
United States could alone maintain bimetaism, and
whether silver standard would be superior to the
now in force, provided not successful in the
unrestricted bmetallic experiment. On this point MIR.
Bryan says 1--WE not asking that experiment
be tried; insisting return to a financial
policy approved by the experience of history and sup
ported by all prominent statesmen from the days of
the first President down to 1872
An examination of history to ascertain the correct.
of Mr. Bryans statement will reveal the fact that
after the great silver discoveries of the seventies
commercial nation of any Importance including the
United States closed its mnts free silver prevent
falling to silver basis 1t will also be found that most
of the then living statesmen, including the venerable
Senator Stewart declared for gold and silver money
backed by gold standard similar to the in
force in this country, therefore Mr. Bryans premises
are false and misleading.
In commenting the ability of the United States
to the worlds silver surplus and keep silver and
gold at parity Mr. Bryan said: MANY fear that the
opening of our mnts will be followed by enormous
increase in the annual production of silver This is
Silver has been used money for thousands
of years, and during all that time the world has
suffered from production. AS matter of fact
this is in direct contradiction with Mr.. Bryans own
argument The world is suffering from an pro
duction of silver why this demand for its further
money, why is the claim made that gold has
appreciated? The worlds surplus silver for 1894,
for which there demand. either for coinage or
for in the industrial arts amounted in coinage value
s76 49, Had there been such surplus silver
would be quoted at ST. % ounce and there would
have been decline in price, Had the demand exceeded
the supply the prior to the abundant silver
discoveries of the seventies its price would have gone
higher than ST. % and silver money would
have been withdrawn from circulation to be sold
commodity, in the earlier history of the country
This fact also fully Mr.. Bryans incorrect as.
sumption to the fall in price of silver. which was
wholly due to over-supp]y.
In continuing his argument to ability to keep
silver at parity Mr. Bryan further said:
In to the charge that gold will abroad it
that gold leave this country until the
gold receives something for which he would
In other words, when gold
formerly owned it will be benefited There by
which compelled to part with gold against will
there by which silver
without Exchanges agreement
silver to this country under free coinage it will
the invitation of this country
thing exchange it. Those deny ability of the
United States maintain the parity gold
the present legal ratio without foreign aid point
assert that the opening of mnts will reduce silver
basis and raise gold 1t reflection upon
sister republic remind people that the United
much greater than Mexico in population
mercial strength 1t absurd that the United
able anything which Mexico failed accomplish
The thing order maintain
demand great enough utilize all which will
That Mexico has failed
that the United States would also fail.