The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1896-08-20
JAY COOKE,
THE PHILADELPHIA FINANCIER,
Is FOR FREE COINAGE.
He Is Too Hard a Republican to Vote
For Bryan, But He Hopes That
Silver will he Restored
BY the Republicans.


Silver will He Restored
BY the Republicans.
A dispatch from Philadelphia says
Jay Cooke, the veteran flnsncier, who
successfully placed millions of govern
ment bonds during the civil war, was in
terviewed last week on the money ques-
tion. 1.-THE opposition to the free ooinag,
Of silver" he said, "is crime, a miser-
able crazy notion, II had the doing of
It there would be no room for gold bug
in this country. The single gold standard
would ruin this country; positively ruin
It. have seen In my time silver superior
in value to gold and Its depreciation has
been caused by It's demonetization. The
silver dollar was the unit of value until
1878, when there was q three per cent.
premium on the metal At that time the
value Of silver was three per cent. more
than that Of gold.
"There was no bullion presented for
coinage excepS that which the government
was compelled TO buy to furnish sub.
sidiary coin. That had been adulterated. /"
Mr.. Cooke then picked up a book and
said: "Let me read you what Mr.. Car
Isle said in 1878 before he was allied to
Cleveland and the gold bugs;
According to my view Of the SUBJ
ject, says Mr.. Carlisle the conspiracy
which seems to have been formed in this
country and Europe to destroy by legisla-
m oney of the world Is the most gigantic
crime Of this or any other age. The con.
summation of such a scheme would ulti-
mately entail more misery on the human
race than any war, petilence and famine
that ever occurred.
Mr.. Cooke said: "What more could
tyou want than that? 1t was true then,
it is true now," he said emphatically.
Continuing, he read from Carlisle
"The absolute and instant destruction
of all of the movable property of tht
world, including horses, ships, railroads
, and all other appliance for commerce
would not produce anything lik,
the prodigious distress and disorgnizatioI
of society that must result from the an
, Inhalation of one half Of the metal none!
of the world"
"These remarks of Carlisle were mad
on February 81, 1875" said Mr.. Cooke
"and they are perfectly correct. Why
this soS Why has it come to pass9 W
already have begun to get its bad results
and unless 1t is righted promptly tn
calamity will be great. In the first plac
the Stiffness o: this great nation, with it
vast industries, Is nothing less than re
markable in refusing to make silver tn
equal in monetary influe nee to gold
There would have been none of the dis
turbances that have lately happened bu
for the break down in silver.
I We are growing and have been growin
rapidly and we need all that we can get a
a basis of value. We need both gold an
silver. The government credit, the busi
ness credit, both are based on thei
metallic ability to pay. The most terribl
!, thing of all was in 1878 when silver wa
demonetized, which was done under
delusion. You will find that host of tn
senators and representatives did nc
dream that they were about to demonetiz
!, silver. They had had no such desire
:, Then, instead of righting the mistak
: they passed the Bland bill. They wer
to buy S4,OOO,OOO of bullion a month
They always bought only S2,000,0 ,00
!. worth month. Everything was done
keep down silver. The whole history {
i. it is vile and outrageous.
"Just think Of the fearful danger tn
:, farmers stand in. If they knew 1t the
would rise in their might and sweep ava
> these devilish politicians and gold bugs.
"But, Mr.. Cooke, in case of free coli
age, what about ne flfty-three Ger
dollarP"
"That' all humbug. Wasn't silvt
dollar worth 81. .03 before they demon
tized silver AS have said, I have see
a time when silver was worth more tina
gold. The worlds onward march
-, rapid. If gold shall be the only basis
: exchange, the progress must stop. v
:, must have more money to oil ii
machinery of exchange. I believe v
must get back to bimetallism before v
reach prosperity"
"Then you will vote for Brayn al
Sewall, " said the reporter.
"No, will vote for Mckinley with Il
hope that he and the Republican par
: will see the error of the gold standal
and Immediately put silver back in 81
place in which it belongs"
i0 Mrs. L. s. Hawkins, Chattanoog