The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1896-08-22
FULL TEXT OF MR.. BRYANS
SPEECH OF ACCEPTANCE

to apportIon the burdens of government
more equltably among those who enjoy the
protection OF the Government. At present the
expenses of the Federal Government. collect
ed through internal revenue taxes and import
duties, are especially burdensome upon the
poorer classes of society. A law which col
lects from some citizens more than their share
of the taxes and collects from other citizens
less than their share is simply an indirect
means of transferring one man property 10
another mans pocket, and while the process
may be quite satisfactory to the men who es-
cape just taxation, it can never be satisfactory
to those who are overburdened. The last in
come tax law, with its exemption provisions,
when considered in connection with other
methods oftaxation i'll force, was not unjust to
the possessors of large incomes, because they
were not compelled to pay total Federal tax
greater than their share The income tax is
not new. nor is it based upon hostility to the
rich. The system is employed in several of
the most important nations in Europe, and
every income tax law now upon the statute
books in any land, so far as | have been able
TO ascertain, contains an exemption clause.
While the collection of an income tax in other
countries does not make it necessary for this
nation to adopt the system, yet it ought to
moderate the language ofthose who denounce
the income tax as an assault upon the well-to-
do.
THE RIGHT TO DISSENT.
Not only shall / refuse to apologize for the
advocacy of an income tax law by the National
Convention, but | shall also refuse to apollo
gize for the exercise by it of the right to
dissent from decision of the Supreme Court
In Government like ours every public Off
cial is public servant, whether he holds Office
by election or by appointment, whether he
serves for a term of years or during good be-
havior, and the people have right to criticise
his official acts.
Confidence is everywhere the parent of
despotism; free government exists in jealousy
and not in confidencei-thesea are the words
of Thomas jefferson, and | submit that they
present truer conception of popular govern
ment then that entertained by those who would
prohibit an unflvorable comment upon a
court decision. Truth will vindicate itself;
only error fears free speech. No public Off
cal who conscientiously discharges his duty
as he sees it will desire to deny TO those whom
he serves the right to discuss his official con-
duct.
THE PRINCIPAL uF BINETALLISM.
Now let me ask you to consider the para
mount question of this campaign-the money
question. 1t is scarcely necessary to defend
the principle of bimetallism. No national
party during the entire history of the United
States has ever declared against it, and no
party in this campaign has had the temerity
to oppose it. Three parties-the Democratic,
Populist and Silver parties-have not only
declared for bimetallsm, but have outlined
this specific legislation necessary TO restore
silver to its ancient position by the side of
gold. The Republican platform expressly
Al. IL.
pledges the Republican party TO aid in secur-
ing it as soon as the assistance of certain for
eign nations can be obtained. Those who
represented the minority sentiment in the
Chicago Convention opposed the free coinage
of silver by the United States by independent
action on the ground that, in their Judgment,
it would retard or entirely prevent the es-
adjustment of internal bimetalism, to which
the efforts of the Government should be
steadily directed" When they asserted that
the efforts of the Government should be stead
lily directed toward the establishment of inter
national bimetallism, they condemned mono
metallism.
GOLD MoNoMETALIIsA VS.. BIMETALLIsM.
The gold standard has been weighed in the
balance and found wanting. Take from it
the powerful support of the money owning and
the money changing classes, and ii cannot
stand for one day in any nation in the world.
1t was fastened upon the United States with
out discussion before the people, and its friends
have never yet been willing TO risk verdict
before the voters upon that issue. There can
be no sympathy or cooperation between the
advocates of universal gold standard and the
advocates of bmetallism. Between bimetal-
lism-whether independent or international
and the gold standard there is an impossible
,rulf Tc this ouad al fip, in favor nf
bimetallism conducted in good
faith, or do our opponents really desire to
maintain the gold standard permanently?
Are they willing TO confess the superiority of
a double standard when joined in by the lead
ing nations of the world, or do they still insist
that gold is the only metal suitable for standard
money among civilized nations? If they are
in fact DESTROYS of securing bimetalism, we
may expect them to point ont the evils of
gold standard and defend bimetallism us a
system. If, on the other hand, they are bend
ing their energies toward the permanent estab-
lishment Of gold standard under cover of
declaration in favor of international bimelal-
lism, am justified in suggesting that honest
money cannot be expected at the hands of
those who deal dishonesty with the American
people.
THE TEST OF HONESTY IN MONEY.
What is the test of honesty in money? 1t
must certainly be found in the purchasing
power Of the dollar. An absolutely honest
dollar would not vary in its general purchasing
power; it would be absolutely stable when
by average prices. A dollar which
increases in purchasing power is just as dis
honest as dollar which decreases in purchas-
ing power. Professor Langhlin, now of the
of Chicago, and one of the highest
gold standard authorities, in his work on bime-
talism, not only admits that gold does not
remain absolutely stable in value, but ex-
pressly asserts that there is no such thing as
a Standard of value for future payments, either
in gold or silver, which remains absolutely
He even suggests that multiple
standard, wherein the unit is biased upon the
selling prices ola number of articles of general
would be more Just standard
than either gold or silver, or both, because
"a long contract would thereby be paid at its
maturity by the same purchasing power as was
given in the beginning"
no ABSOLUTELY lust STANDARD OF VALUE.
1t cannot be successfully claimed that mono
metallism or bimetallism or any other system
gives an absolutely just standard of value.
Under both recommendation and bInetallism
the Government fixes the weight and fineness
of the dollar, invests it with legal-tender
QuailtleS ana tnen opens tne minis 10 It's I'M
restricted coinage, leaving the purchasing
power of the dollar to be determined by the
number of dollars Bimetallism is better than
not because it gives us a per-
feet dollar-thatis, dollar absolutely unvary
ing in its general purchasing power-but be-
cause il makes a nearer approach to stability,
to honest justice, than gold standard possibly
can. Prior 10 1878, when there were enough
open minis to permit all the gold and silver
available for coinage to find entrance into the
worlds volume of standard money, the United
States might have maintained a gold standard
with less injury to the people of this country;
but now, when each step toward universal
gold standard enhances the purchasing power
of gold, depresses prices and transfers to the
pockets of the creditor class an unearned in
crement, the influence of this great nation
must not be thrown upon the side of gold un-
less we are prepared to accept the natural and
legitimate consequences OF such an act. Any
legislation which lessons the worlds stock of
standard money increases the exchangeable
value of the dollar; therefore, the crusade
against silver must inevitably raise the pur-
chasing power of money and lower the money
value of all other forms of property.
THE END NOT REACHED.
Our opponents sometimes admit that it was
a mistake to demonetize silver, but insist that
we should submit to present conditions rather
49,, .a,,,rn 10 tho himatallie system They